inhalation vs medicament

inhalation and medicament both are nouns.

Word	Noun	Adjective	Verb	Adverb
inhalation	Yes	No	No	No
medicament	Yes	No	No	No

As nouns, medicament is a hypernym of inhalation; that is, medicament is a word with a broader meaning than inhalation:

inhalation: a medication to be taken by inhaling it
medicament: (medicine) something that treats or prevents or alleviates the symptoms of disease

Other hypernyms of inhalation include medication, medicinal drug, medicine.

inhalation (noun)	medicament (noun)
the act of inhaling; the drawing in of air (or other gases) as in breathing	(medicine) something that treats or prevents or alleviates the symptoms of disease
a medication to be taken by inhaling it