The global Pulmonary Drug Delivery Systems Market is estimated to be valued at US$ 34.34 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Pulmonary drug delivery systems aid in administering various drugs to treat respiratory diseases by inhalation route. Drugs administered via these devices reach directly to lungs ensuring higher bioavailability of drugs in lungs for treatment of respiratory diseases like asthma and COPD.
Market key trends:
Nebulizers are witnessing high demand owing to advantages like effective drug delivery to lungs for treatment of various respiratory diseases like asthma and COPD. These devices ensure higher absorption of drugs in lungs by breaking liquids into fine mist for efficient inhalation. Devices like metered dose inhalers (MDIs) are also becoming popular for self-administration of drugs for respiratory diseases. Technological advancement in pulmonary drug delivery devices to ensure optimal drug delivery for enhanced treatment outcomes is fuelling adoption.
Segment Analysis
The pulmonary drug delivery systems market is segmented by product, application, end user and geography. By product, the market is segmented into metered dose inhalers, dry powder inhalers and nebulizers. Among these, the nebulizers segment holds the largest share as they are considered as a primary mode of drug delivery in acute exacerbations of chronic obstructive pulmonary disease and asthma. They help in effective delivery of drugs to the lungs.
Key Takeaways
The global Pulmonary Drug Delivery Systems Market is expected to witness high growth, exhibiting a CAGR of 4.6% over the forecast period, due to increasing prevalence of respiratory diseases such as asthma and COPD.
The North American region dominates the pulmonary drug delivery systems market with the highest market share owing to high healthcare expenditure and presence of developed healthcare infrastructure and key players in the region.
Key players operating in the pulmonary drug delivery systems market are 3M Health Care, Allied Healthcare Products, Inc., AstraZeneca, Boehringer Ingelheim International GmbH., CareFusion Corporation, GF Health Products, Inc., GlaxoSmithKline plc, Merck & Co., Inc., Novartis AG, Omron Healthcare, Inc., Glenmark Pharmaceuticals, PARI Respiratory Equipment, Inc., Koninklijke Philips N.V.
Increasing preference of pulmonary route of drug delivery, increasing technological developments in the form of smart/digital inhalers and rising incidences of respiratory diseases such as COPD, asthma, and cystic fibrosis.Global respiratory drug delivery market is projected to reach USD 52.37 Billion by 2021 from USD 36.10 Billion in 2016, at a CAGR of 6.5%.
Pulmonary/ Respiratory Drug Delivery Market by Formulation (Type (Solution, Suspension, Dry powder), Device Type (Metered dose, Dry Powder, Nebulizer)), Canister (Plain, Coated), End User (Hospitals, Homecare), Applications (COPD).Emerging markets such as India, China, & Japan and growth in online marketing channels are expected to offer lucrative growth opportunities for market players in the coming years.
On the other hand, factors such as regulatory issues and pricing pressures are the major factors restraining Respiratory Drug Delivery market growth.The pulmonary drug delivery market is segmented based on formulations, canister type, applications, end users, and regions.
On the basis of end user, the market is segmented into hospitals & clinics and homecare settings.
The hospitals & clinics segment dominated the market in 2016, this is attributed to the increasing incidence of diseases such as pneumonia and acute exacerbation of COPD (AECOPD) is driving the number of hospitalizations each year.Based on canister type, the Respiratory Drug Delivery Market is segmented into plain and coated canister.
The coated canister segment is expected to be the fastest growing market in canister type segments in the respiratory Drug Delivery Market during the forecast period.
