The global pulmonary drug delivery systems market, valued at approximately US$50 billion in 2021, is poised to witness significant growth in the coming years, according to a comprehensive market analysis report. The report provides valuable insights into the key trends and regional dynamics shaping the market landscape.
Market Analysis Brief
Pulmonary drug delivery systems play a vital role in non-invasive drug administration, allowing medications to be inhaled through the lungs and enter the bloodstream via the alveolar epithelium. This method serves as an alternative to subcutaneous and intravenous injections, offering greater efficacy and precision in drug delivery. Various devices, including nebulizers, metered-dose inhalers, and dry powder inhalers, are utilized for respiratory drug delivery, particularly in conjunction with protein and peptide drugs. Pulmonary drug delivery enables patients to use inhalers to treat lung diseases such as asthma and chronic obstructive pulmonary disease (COPD). It significantly influences the rate and efficacy of these drugs, considering factors such as breathing patterns, drug particle properties, and respiratory tract geometry. This method is highly efficient in reducing systemic side effects and increasing bioavailability.
Key Report Findings
The worldwide pulmonary drug delivery systems market revenue reached approximately US$50 billion in 2021. The market’s growth is driven by the rising prevalence of chronic ailments, especially chronic obstructive pulmonary disease (COPD). The market is expected to witness robust growth owing to greater efficacy and precision in drug delivery. North America is projected to dominate the market during the forecast period. Philips Respironics, GlaxoSmithKline PLC, Boehringer Ingelheim GmbH, Teva Pharmaceutical Industries Ltd., and 3M Healthcare are leading market participants.
Growth Drivers
Rising Prevalence of COPD
The recent past has witnessed a drastic rise in the prevalence of chronic obstructive pulmonary disease (COPD), which is anticipated to significantly boost the growth of the pulmonary drug delivery systems market. This can be attributed to the benefits associated with pulmonary drug delivery, such as the ability to deliver drugs directly to the disease site, resulting in rapid action with fewer systemic side effects.
The market is further fueled by ongoing product launches and cutting-edge technological developments. Market players are also focusing on market dominance through strategies such as open innovation and partnerships. Additionally, the launch of smart and digital dose inhalers, along with their increasing penetration, is expected to bolster market growth.
Growing Activism Around Pulmonary Drug Delivery Devices
With the increasing incidents of chronic disorders, awareness campaigns promoting the robust uptake of pulmonary drug delivery devices have been on the rise. This trend has translated into numerous opportunities for market players. Government entities across economies are undertaking initiatives to conduct awareness campaigns, highlighting the importance and advantages of pulmonary drug delivery devices.
The market is further augmented by the development of smart inhalers for asthma and COPD patients. Patient-friendly and cost-effective devices are constantly being introduced, considering the number of hospital admissions. Patients are increasingly becoming aware of the imperatives of metered dose inhalers (MDIs) and dry powder inhalers (DPIs). These factors are propelling the growth of the global pulmonary drug delivery systems market.
Growth Challenges
Lack of Training and Understanding
Despite awareness of the benefits associated with the use of pulmonary drug delivery systems, individuals lack the necessary training and understanding of nasal drug delivery techniques and devices. Coupled with this, incorrect usage of these systems may further restrain the growth of the pulmonary drug delivery systems market.
Regulatory Concerns and Higher Prices
Stringent regulatory frameworks and approval processes might pose restrictions to the holistic growth of the market. Additionally, higher pricing pressures are likely to have a negative influence on market growth.
Overview of Key Segments
Products Segment Dominant Owing to Metered Dose Inhalers
Based on the product, the pulmonary drug delivery systems market is segmented into dry powder inhalers, nebulizers, metered dose inhalers (MDIs), and accessories. Among these, novel developments of MDIs are likely to unveil lucrative opportunities. Dry powder inhalers (DPIs) are highly cost-effective and require less administration and preparation time.
DPIs are extensively used to treat a spectrum of respiratory disorders, while nebulizers find their application in home care and emergency medicine. Extensive research and development efforts, coupled with the increasing use of accessories, have propelled the demand in this segment.
Asthma Turns Out to be the Most Prominent Application Segment
Based on the application, the market is categorized into COPD, asthma, cystic fibrosis, and allergic rhinitis. As the number of individuals suffering from asthma increases, the need for pulmonary drug delivery systems has also grown incessantly. Nevertheless, there has been a drastic rise in the incidence of COPD and resulting mortality rates. Government and private entities are making extensive efforts through effective reimbursement policies, which is positively influencing the growth of this segment.
Hospital Pharmacies Segment Preeminent
Based on the distribution channel, hospital pharmacies dominate the pulmonary drug delivery systems market due to their benefits, such as extensive treatments, care, quick reimbursements, and insurance policies. Retail pharmacies are anticipated to witness steady growth due to easy accessibility and affordability, providing home care products. E-commerce is expected to witness a promising compound annual growth rate (CAGR) due to improved healthcare infrastructure and convenience.
Based on the end-use, hospitals dominate the market due to the launch of technologically advanced medical devices and their usage in hospitals. Hospitals offer various treatments for respiratory diseases. Home care is projected to witness lucrative growth due to the preference for home healthcare, the shortage of healthcare facilities, and the rising cost of healthcare services. The introduction of technologically advanced devices, which are portable and small-sized, drives the growth of this market segment.
Regional Segment
North America Awaits Expansion with Prevalence of COPD and Asthma
North America is anticipated to witness unmatched growth caused by the incessantly increasing incidence of diseases including asthma and COPD. A growing number of patients suffering from these diseases and the soaring demand for diagnostic devices are poised to generate substantial revenue streams. Along with this, the presence of pharmaceutical and medical device players, novel healthcare infrastructure and facilities, rising disposable income, and changing lifestyles are expected to assure influential growth across the pulmonary drug delivery systems market.
Leading Industry Participants
Some of the highly competent players consolidating a strong foothold in the global pulmonary drug delivery systems market include Philips Respironics, GlaxoSmithKline PLC, Boehringer Ingelheim GmbH, Teva Pharmaceutical Industries Ltd., 3M Healthcare, PARI GmbH, F. Hoffmann-La Roche AG, Gilbert Technologies, AstraZeneca PLC, and Omron Healthcare, Inc.
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