By 2023, it is forecast that the global generic market for this therapeutic area will reach 35 billion U.S. dollars.
The sales of generic inhalers and nasal sprays is expected to increase even further after the release of studies that point to an increase in the number of patients suffering from restrictive and even life-threatening respiratory diseases, such as COPD and asthma.
The incredibly high healthcare costs, especially in developed economies, is therefore driving this growing patient pool towards generic drugs.
It is deduced that the global market for inhalation and nasal spray generic drugs market is expected to be valued nearly US$24.5 bn by the end of 2016. In 2023, this market is expected to reach US$35.4 bn in revenue. It is therefore expected to display a CAGR of 5.5% from 2015 to 2023.