Inhaled Antibiotics Market Share Is Anticipated to touch US$ 1,784.9 Mn By 2027, Impact of Coronavirus (Covid-19) Pandemic
Global Inhaled Antibiotics Market, by Product Type (Aerosol, Dry Powder Formulation, and Spray), by Application (Pneumonia, Asthma, Bronchitis, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 1,160.69 million in 2020 and is projected to exhibit a CAGR of 6.3% over the forecast period (2020–2027), as highlighted in a new report published by Coherent Market Insights.
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Key players operating in the global market are focused on adoption of inorganic growth strategies such as acquisition and collaboration, in order to expand its product portfolio and presence in the global market.
For instance, in April 2020, Savara Inc., a clinical-stage pharmaceutical company, entered into an exclusive license and collaboration agreement with Grifols S.A., a Spanish multinational pharmaceutical and chemical manufacturer company, to develop and commercialize Apulmiq (inhaled liposomal ciprofloxacin), also known as Linhaliq, in Europe. Apulmiq is a late-stage investigational inhaled antibiotic in phase 3 development for the treatment of non-cystic fibrosis bronchiectasis (NCFB).
Moreover, 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.
Furthermore, increasing research and development activities for the development of novel products is expected to drive the market growth over the forecast period.
For instance, in September 2019, Portugal-based Hovione Technology, a company developing inhalation devices, entered into a collaboration agreement with the Kiel University’s Institute of Pharmacy in Germany. As a result of this agreement, the institution utilized Hovione’s portfolio of large dose dry-powder inhalers (DPIs) to conduct research on advanced formulation approaches for high-dose inhalation applications.
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Global Inhaled Antibiotics Market – Impact of Coronavirus (Covid-19) Pandemic
Players operating in the inhaled antibiotics market are facing major challenges on a number of fronts due to the COVID-19 pandemic. The major challenges include supply of raw materials such as APIs for antibiotics manufacturing due to irregularities in transportation facility, which will affect the global distribution channel. Moreover, patients are experiencing varying levels of demand due to increasing patient population suffering from respiratory diseases such as asthma, COPD, and novel COVID-19. Moreover, patients with pre-existing medical history such as diabetes, severe asthma, and heart diseases are more vulnerable to COVID-19. There is concern that severe asthmatic patients with COVID 19 may have a worse outcome, however, there is no conclusive evidence to support this. Thus, high impact of coronavirus (Covid-19) pandemic globally is expected to limit growth of the global inhaled antibiotics market in the near future.
Increasing government initiatives for the development of novel products is expected to drive the market growth over the forecast period. For instance, in July 2018, the U.S. Food and Drug Administration held a public workshop on development of inhaled antibacterial drugs for cystic fibrosis and non-cystic fibrosis bronchiectasis. The purpose of the public workshop was to discuss the clinical trial design challenges and future considerations for inhaled antibacterial products to treat cystic fibrosis (CF) and non-CF bronchiectasis.
Key Takeaways of the Global Inhaled Antibiotics Market:
- The global inhaled antibiotics market is expected to exhibit a CAGR of 3% over the forecast period, owing to increasing incidence of chronic respiratory diseases and robust clinical trial pipeline for new product development. For instance, according to the Centers for Diseases Control and Prevention (CDC), in 2016, more than 8.9 million Americans were diagnosed with chronic bronchitis and around 3.5 million Americans were diagnosed with emphysema in 2016.
- Among product type, aerosol segment held a dominant position in the market in 2019, owing to rising application of aerosol in targeted drug therapy
- Some of the major 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.
Browse 35 Market Data Tables and 30 Figures spread through 167 Pages and in-depth TOC on “Inhaled Antibiotics Market”- Global Forecast to 2027, by Product Type (Aerosol, Dry Powder Formulation, and Spray), by Application (Pneumonia, Asthma, Bronchitis, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),
To know the latest trends and insights prevalent in the global inhaled antibiotics market press release, click the link below: https://www.coherentmarketinsights.com/press-release/inhaled-antibiotics-market-3248
- 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
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