by The Pulmonary Drug Delivery Systems Market is estimated to be valued at US$ 34.34 Bn or Mn 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 are medical devices used to administer drugs through the pulmonary route for the treatment of respiratory diseases such as asthma, cystic fibrosis, and chronic obstructive pulmonary disease (COPD). These systems allow for local as well as systemic delivery of drugs to the lungs. The commonly used pulmonary drug delivery systems include metered dose inhalers (MDIs), dry powder inhalers (DPIs), and nebulizers. MDIs are the most widely used type due to their portability and ease of use.
Market Dynamics:
Rising Prevalence of Respiratory Diseases
The increasing prevalence of respiratory diseases such as asthma, chronic bronchitis, lung cancer, and COPD is a key factor contributing to the growth of the market. According to the Global Burden of Disease Study 2017, chronic respiratory diseases accounted for 4.2 million deaths globally.
Technological Advancements
Manufacturers are focusing on developing innovative pulmonary drug delivery systems with improved efficacy, patient comfort, and compliance. The emergence of smart inhalers integrated with sensors and data connectivity enables remote monitoring of medication use and disease management. This is expected to augment the demand for advanced inhalation devices over the forecast period.
Segment Analysis
The pulmonary drug delivery systems market can be segmented based on product types. Dominant product segment includes powder inhalers which holds around 30% share of the total market. Dry powder inhalers are preferred over other product types for their ease of usage, reliability and effectiveness in delivering drugs to lungs for conditions like asthma and COPD. Dry powder inhalers require less coordination and produce fine, dry powder that reaches deep into lungs effectively.
PEST Analysis
Political: Regulations for stringent quality control and safety of devices influence the innovations and demand for products. Economic: Availability of affordable healthcare insurance and concessions for chronic respiratory conditions boost the market growth. Social: Rising lifestyles diseases and growing healthcare awareness increases patient acceptance and demand for superior products. Technological: Developments in smart connectivity and tracking capabilities of devices enhance patient compliance and drive market opportunities.
Key Takeaways
The global Pulmonary Drug Delivery Systems Market is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing prevalence of respiratory diseases. North America dominates the market with highest number of asthma and COPD patients. Increasing access to healthcare insurance and product developments by regional players propels the regional market growth. Europe holds the second largest share on the back of rising healthcare standards and elderly population susceptible to lung conditions.
The global Pulmonary Drug Delivery Systems market size was valued at US$ 34.34 Bn in 2023 and is anticipated to exceed US$ 50 Bn by 2030. Dry powder inhalers segment accounts for over 30% of total demand led by advantages over other product types. Connected devices integrated with mobile applications have gained significant traction in the recent past.
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., and Koninklijke Philips N.V. Product launches and strategic collaborations with drug makers remain key growth strategies adopted by these market leaders.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
