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The approximately US$50 Bn pulmonary drug delivery systems market that stood at nearly US$50 Bn in 2021 and is poised to see robust growth in the years to come. The report casts light on the major uptrends and regional analysis of the market to provide a clear picture of the market landscape.
Market Analysis Brief
Pulmonary drug delivery systems market grows strong as the demand sustains with their ability to allow the medication to be inhaled via lungs and enter the bloodstream through the alveolar epithelium. This is a non-invasive alternative method to subcutaneous and intravenous injection. It plays a crucial role in defining the efficacy of pulmonary delivery. Various devices are used for respiratory delivery including nebulizers, metered-dose inhalers, and dry powder inhalers. Significantly, these devices are used along with protein/peptide drugs. Mostly, pulmonary drug delivery enables patients to use an inhaler to inhale their medications. These inhalers are used to treat lung diseases such as asthma, and chronic obstructive pulmonary disease (COPD). The rate and efficacy of these drugs are influenced by the basic breathing patterns, drug particle properties, and respiratory tract geometry. It is highly efficient in lowering systemic side effects and increases bioavailability.
Key Report Findings
Growth Drivers
Rising Prevalence of COPD
The recent past has marked a drastic rise in the prevalence of chronic obstructive pulmonary disease (COPD) which anticipates a significant boost in pulmonary drug delivery systems market growth with the promise of assured influence. This can be attributed to the benefits associated with the pulmonary drug delivery route. For instance, in the case of respiratory diseases, drugs can be delivered directly to the disease site, performing topical relief. Consequently, this ensures the accomplishment of rapid initiation of action with fewer systemic side effects.
In addition to this, the market is further fuelled by ongoing product launches and cutting-edge technological developments. Players are also setting their sights on market dominance through the pursuit of marketing strategies such as open innovation, and partnerships. Moreover, the launch of smart and digital dose inhalers and their surging penetration are likely to bolster market growth.
Growing Activism Around Pulmonary Drug Delivery Devices
With rising incidents of chronic disorders, awareness campaigns ensuring the robust uptake of pulmonary drug delivery devices have been on the rise. This has translated into numerous opportunities for players in the market. Government entities across economies are undertaking initiatives to conduct awareness campaigns to highlight 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 being constantly introduced considering the number of hospital admissions. Patients are increasingly developing cognizance of the imperatives of metered dose inhaler or MDI or a dry powder inhaler (DPI). Such aspects are advancing 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 training and understanding of nasal drug delivery techniques and devices. Coupled with this, the incorrect usage of these systems may further restrain the growth of the pulmonary drug delivery systems market.
Regulatory Concerns, and Higher Prices
Stringent regulatory framework and approval processes might pose some restrictions to the holistic growth of the market. Higher pricing pressures are likely to further hold a negative influence on the 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 as dry powder inhalers, nebulizers, metered dose inhalers (MDIs), and accessories. Among these, novel developments of MDIs are likely to unveil lucrative opportunities. These dry powder inhalers (DPI) are highly cost-effective and require lesser administration and preparation time.
DPIs are used to treat a spectrum of respiratory disorders. While nebulizers find their application in-home care and emergency medicine. Extensive R&D and increasing use owing to its efficient drug delivery to a patient’s lungs have propelled the demand for the accessories segment.
Asthma Turns Out to be the Most Prominent Application Segment
Based on the application, the market is categorised as COPD, asthma, cystic fibrosis, and allergic rhinitis. As more individuals are suffering from asthma, the need for pulmonary drug delivery systems has also grown incessantly. Nonetheless, 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 influencing the segment’s growth.
Hospital Pharmacies Segment Preeminent
Based on the distribution channel, hospital pharmacies dominated 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. The retail pharmacies provide home care products. E-commerce is expected to witness a promising CAGR due to its improved healthcare infrastructure and convenience.
Based on the end-use, hospitals dominated the market due to the launch of technologically advanced medical devices and their usage in hospitals. The hospital offers various treatments for various 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 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, TevaPharmaceutical Industries Ltd., 3M Healthcare, PARI GmbH, F. Hoffmann-La Roche AG, Gilbert Technologies, AstraZeneca PLC, and Omron Healthcare, Inc.
Regional Classification of the Global Pulmonary Drug Delivery Systems Market is Listed Below:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Considering the volatility of business today, traditional approaches to strategizing a game plan can be unfruitful if not detrimental. True ambiguity is no way to determine a forecast. A myriad of predetermined factors must be accounted for such as the degree of risk involved, the magnitude of circumstances, as well as conditions or consequences that are not known or unpredictable. To circumvent binary views that cast uncertainty, the application of market research intelligence to strategically posture, move, and enable actionable outcomes is necessary.
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