Inhalation and Nasal Spray Generic Drugs Market is Expanding at a CAGR of 5.5% by 2023

The global market for inhalation and nasal spray generic drugs features a largely fragmented, not to mention intensely competitive owing to pricing pressures, vendor landscape, with the top four companies accounting for a nearly 46% of the overall market in 2014, observes Transparency Market Research (TMR) in a recent report. These leading companies, namely Sandoz International GmbH, Mylan N.V., Allergan PLC, and Teva Pharmaceutical Industries Ltd., are focusing on growth strategies such as geographical expansion and mergers and acquisitions across high-growth potential regional markets.

Read Report Overview: https://www.transparencymarketresearch.com/inhalation-nasal-spray-generic-drugs.html

Regional markets such as Asia Pacific and Latin America show immense growth promise for generic drugs owing to the cost-conscious consumer base. However, these regions present immense challenge for new companies owing to the presence of a large number of local and regional players. Nevertheless, strategic collaborations could enable international companies to establish their businesses. TMR estimates that the global inhalation and nasal spray generic drugs market will exhibit a 5.5% CAGR over the period between 2015 and 2023, rising to a valuation of US$35 bn by 2023.

Request Sample of Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1922

Asia Pacific to Lead to Healthy Growth Avenues for Inhalation and Nasal Spray Generic Drugs

On the basis of drug class, the segment of combinations, which accounted for the dominant share in revenue in 2014 and 2015, is expected to remain the leading drug class over the report’s forecast period as well. The segment is expected to reach the valuation of US$6.4 bn in 2016. In terms of geography, the market for inhalation and nasal spray generic drugs in Asia Pacific is projected to emerge as the regional market with the most promising growth opportunities over the forecast period. The two leading regional markets in the present scenario - North America and Europe, will continue to constitute the top share in terms of revenue contribution over the forecast period, but will lead to less promising growth opportunities as compared to Asia Pacific owing chiefly to mature marketplaces and more preferences to branded drugs.

Download Brochure of Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1922

Cost Effectiveness of Generic Drugs Help Boost Sales

Looming patent expirations of some of the leading drug classes prescribed for a number of inhalation-related conditions is one of the key factors boosting the sales of generic inhalation and nasal spray drugs. The substantially low costs of generic drugs are also a key factor behind the higher preference given to them across cost-conscious regions.

The increased awareness regarding the significant reduction in the cost burden of treatment of a number of commonly occurring diseases on the overall healthcare funds of a country are also compelling government and healthcare authorities to educate masses about the variety of generic drugs available in the market. Moreover, the vast rise in prevalence of breathing-related conditions such as chronic obstructive pulmonary disease and asthma across the globe and the rising demand to lower down healthcare costs are also expected to drive the market.

Request For Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=1922

Stringent Regulations in Emerging Economies Could Hinder Growth Prospects

Owing to the large number of companies foraying into the generics sector for inhalation and nasal spray drugs, quality and integrity of generic inhalers is increasingly becoming a cause of concern for the masses as well as authoritative healthcare bodies in emerging economies. Countries such as Brazil and India are increasingly featuring strict regulations concerned with the process of approving new generics. These regulations are expected to hinder the growth opportunities of the global inhalation and nasal spray generic drugs market to a certain extent in the next few years.

Inhalation and Nasal Spray Generic Drugs Market Trends And Opportunities For The Industry By 2023

The global inhalation and nasal generic drugs market features oligopolistic characteristic with a handful of players holding a majority share of the market, observes a new market study by Transparency Market Research (TMR). In 2014, Teva Pharmaceuticals Industries Ltd., Sandoz (Novartis AG), Mylan Laboratories, and Allergan plc held 45.9% of the revenue generated in the global inhalation and nasal spray generics market.

The manufacture of generic drugs is one of the key growth strategies that leading players are adopting to strengthen their positions in the market. This is to cater to untapped regions across the world that display growth potential of the inhalation and nasal spray generic drugs market. For instance, Asia Pacific holds promise for the market expansion of the companies involved.
The global inhalation and nasal spray generic drugs market is expected to be worth US$35 bn by 2023 increasing from US$23 bn in 2016 at a CAGR of 5.5% between 2015 and 2023.

This 100 page report gives readers a comprehensive overview of the inhalation and nasal spray generic drugs market. Browse to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/inhalation-nasal-spray-generic-drugs.html

Introduction of Generic Drugs to Reduce Healthcare Costs in Asia Pacific
In terms of the drug class, combination sprays are expected to display the highest CAGR at 5.9% between 2015 and 2023.This is due to the high preference for combination sprays for COPD and asthma in most countries. The use of combination sprays and inhalers have proven to be highly effective for the treatment of serious respiratory diseases.

In 2014, North America and Europe stood as the largest markets for generic inhalers and nasal sprays and are expected to retain dominance in the coming years. The large-scale production and consumption of generic inhalers and nasal sprays coupled with strict regulations for patient safety are major factors for the dominance of these regional markets. On the other hand, Asia Pacific is expected to display the fastest growth in the inhalation and nasal spray generic drugs market. In this region, the rapidly evolving healthcare industry, increasing patient pool for asthma and COPD, and the highest population density are reasons for the increased focus of market players in this region. While China and Japan are expected to account for a majority consumption of generic inhalers and nasal sprays, Australia and India are expected to open lucrative growth opportunities to the market due to the increasing efforts from their governments to reduce overall healthcare costs.
Quality Considerations of Generic Drugs Necessitate Implementation of Production Standards in Developing Regions

Generic inhalers and nasal sprays require approval by the U.S. FDA prior to their commercial availability. Generic drugs are usually available at very low prices, thus it is adding the consumer base for these products.

Request a sample of this report to know what opportunities will emerge in the rapidly evolving inhalation and nasal spray generic drugs market during 2015 - 2023: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1922

“Patent expiration of standard drugs is the primary reason for the increasing use of generic drugs, says a TMR analyst.” Generic drug manufacturers are reproducing standard drugs at very low prices due to the elimination of the need for marketing and advertising strategies, and most importantly, the elimination of the need for research and development.

The introduction of new generic drugs to the current mix of standard drugs will help reduce healthcare costs globally.
Quality considerations are becoming a concern for the growth of the inhalation and nasal spray generic drugs market in developing economies. The increasing number of drug manufacturers producing their own version of generic inhalers and nasal sprays has led to questions regarding the integrity of generic drugs.

The influx of generic drugs into commercial markets of developing regions has necessitated governments to implement standards for the production and sales of generic drugs. This could have an implication on the revenue generation of this market.
The review presented is based on the findings of a TMR research report, titled “Inhalation and Nasal Spray Generic Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”