Inhalation and Nasal Spray Generic Drugs Market Size

Inhalation & Nasal Spray Generic Drugs Market Analysis

The inhalation and nasal spray generic drugs market is anticipated to register a CAGR of nearly 5.4% during the forecast period.

COVID-19 had a notable impact on the inhalation and nasal spray generic drugs market, as one of the main symptoms associated with COVID-19 is shortness of breath. During the pandemic, the demand for inhalation and nasal spray increased. For instance, as per the article published in 2021 by MedComm journal, nasal sprays showed the ability to be an effective COVID-19 treatment and vaccine option. Spray formulations that may inactivate SARS-CoV-2 or restrict its entry into cells were considered helpful in avoiding viral dissemination to the lungs or surrounding people. In the post-pandemic era, relaxed lockdowns and the resumption of healthcare practices are expected to accelerate market growth. People affected by COVID-19 are still suffering from long-term side effects such as shortness of breath and other breathing difficulties. For instance, as per Mayo Clinic 2022 update, most reported post-covid long-term symptoms are lung (respiratory) symptoms, including difficulty breathing or shortness of breath and cough. The inhalation and nasal spray generic drugs market is anticipated to witness growth in the coming years due to long-term breathing issues.

The increasing prevalence of asthma and COPD and the availability of low-cost generic drugs are also significant factors driving the market growth. The global population is getting old rapidly, owing to reduced birth rates and increasing life expectancy. Rapid urbanization in several countries and a large amount of pollution have contributed to a higher rate of respiratory diseases globally. For instance, as per the article published in 2022 by EGU journal, urbanization influences air pollutants through urban development and emission growth and increases health risks. Rapidly growing economies tend to have more urbanization, thereby high chances of air pollution leading to airway and respiratory issues. In such a scenario, the utilization of inhalation and nasal spray generic drugs is expected to boost market growth.

Additionally, the awareness of these diseases and healthcare facilities has increased, and the government is investing in mitigating respiratory ailments. For instance, CDC celebrates world asthma month in May. Moreover, on World Asthma Day (May 3, 2022) and throughout May, people with asthma and organizations dedicated to asthma control and education join together to increase awareness about asthma. 

Thus, considering the above-mentioned factors, the inhalation and nasal spray generic drugs market is likely to witness growth during the forecast period. However, strict government regulations associated with generic respiratory drugs restrain the market growth.