On the 12th, Intech Biopharm announced that it has signed a co-development agreement with a North American company for its nasal spray product SYN021. The two companies plan to launch 2-3 nasal spray products in the future, targeting the trillion-dollar global inhaler market.
According to IQVIA, this specific drug category has an annual sales volume of USD 56 million (approximately NT$1.83 billion) in the United States, with the potential to challenge the broader nasal spray market valued at USD 730 million (approximately NT$24 billion).
Intech Biopharm is the only company in Taiwan and one of the few globally with the capability to develop and manufacture inhalers. Due to the rapid growth in the nasal spray market, Intech has completed its nasal spray product line, with an annual production capacity reaching tens of millions of doses, sufficient to meet future market demand. With the addition of nasal sprays, Intech’s product line now comprehensively covers metered-dose inhalers (MDIs) for the lower respiratory tract and nasal sprays for the upper respiratory tract, optimizing its operational efficiency.
Visiongain estimates that the global inhaler market will reach NT$1.5 trillion by 2030, with a compound annual growth rate (CAGR) of 5% from 2020 to 2030.
As for nasal sprays, IQVIA sales data shows that global sales are nearing USD 3.6 billion (approximately NT$118 billion) and continue to grow annually. According to a report by the market research firm Future Business Insights, the nasal spray market size was USD 25.3 billion in 2022 and is expected to grow from USD 27.47 billion in 2023 to USD 49.54 billion by 2030, with a CAGR of 8.8% from 2023 to 2030. North America accounted for 44.11% of the global market share in 2022.
Intech's first compound nasal spray, SYN021, is estimated by IQVIA to have a market size of approximately USD 56 million (NT$1.83 billion) in the U.S. With rapid growth, the market size could potentially reach USD 730 million (NT$24 billion).
Last December, Intech successfully entered the Canadian market with its compound lower respiratory inhaler SYN011. Considering Canada's annual demand for nearly 10 million inhaler units, the market size is estimated at around NT$1.2 billion. The company is also expected to file for U.S. approval this year. Furthermore, Synbufo, the first compound MDI inhaler product approved for marketing, successfully obtained a Taiwan drug license in September 2022 and has also received approval in Macau. Intech plans to gradually apply for marketing approval in ASEAN countries and South America, with operations poised for gradual revenue growth.
Resource (mandarin): 搶占全球兆元吸入劑商機 益得與北美公司合作開發
