SEATTLE--(BUSINESS WIRE)--According to Coherent Market Insights, the global inhaled antibiotics market was valued at US$ 1,094.6 million in 2019 and is projected to exhibit a CAGR of 6.3% over the forecast period (2020–2027).
Key Trends and Analysis:
Increasing incidence of chronic respiratory diseases such as asthma, COPD, and others, increasing product launches and new product approvals, and rising research and development activities for the development of innovative products are expected to drive growth of the global inhaled antibiotics market over the forecast period.
According to the World Health Organization Report May 2020, asthma is the most common chronic disease among children worldwide and around 339 million people were living with asthma in 2016. Similarly, according to the same source, over 80% of asthma-related deaths occur in low-and lower-middle income countries.
Key players operating in the market are focused on new product launches and product approvals, which is expected to drive the market growth over the forecast period. For instance, in March 2020, Altan Pharmaceuticals, the Spanish subsidiary of Altan Pharma Ltd., launched tobramycin in Spain, an inhalation antibiotic used for the treatment of pulmonary infections by pseudomonas.
Moreover, in October 2018, Insmed, Inc., a global biopharmaceutical company, received the U.S. Food and Drug Administration approval for its inhaled antibiotic Arikayce. It is an inhaled formulation of amikacin approved for the treatment of Mycobacterium Avium Complex (MAC) lung disease.
Furthermore, key players operating in the market are focused on adopting acquisition and collaboration strategies, in order to expand their product offerings in the market. For instance, in February 2020, Grifols S.A., a Spanish multinational pharmaceutical and chemical manufacturer company, acquired Aradigm Corporation, a specialty pharmaceutical company. As a result of this acquisition, Grifols S.A. purchased Lipoquin, Free Ciprofloxacin, Apulmiq and other antibiotic portfolio of Aradigm Corporation.
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Key Market Takeaways:
The global inhaled antibiotics market is expected to exhibit a CAGR of 6.3% over the forecast period, owing to increasing research and development activities by research institutes for the development of novel products for the treatment of chronic respiratory diseases. For instance, in December 2018, researchers from Purdue University, a public research university in Indiana, U.S., developed a new dual-antibiotic powder inhalation of two antibiotics, colistin and ciprofloxacin, for delivering drugs deep into the lungs of people suffering from cystic fibrosis.
Among product type, aerosol segment held a dominant position in the market in 2019, owing to increasing applications of aerosol in targeted drug therapy
Key players operating in the global inhaled antibiotics market include—
Gilead Sciences, Aradigm, Lupin Ltd., Polyphor, Insmed Incorporated, Pharmaero, Savara Pharmaceuticals, Joincare Pharmaceutical Group, and Pharmaxis Ltd.
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Global Inhaled Antibiotics Market, By Product Type:
- Dry Powder Formulation
Global Inhaled Antibiotics Market, By Application:
Global Inhaled Antibiotics Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Inhaled Antibiotics Market, By Region:
- Rest of Latin America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Middle East
- South Africa
- Central Africa
- North Africa
- North America
Related Market Intelligence Report:
Veterinary Antibiotics Market, by Product Type (Anti-parasitic, Anti-bacterial, Non-steroidal anti-inflammatory drug, and Others), by End Use (Dairy Farm, Poultry Farm, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026
Read more: https://www.coherentmarketinsights.com/market-insight/veterinary-antibiotics-market-2324
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.