Pulmonary Drug Delivery Systems Market Size to Hit US$ 92.4 Bn by 2030

Ottawa, April 06, 2022 (GLOBE NEWSWIRE) -- The global pulmonary drug delivery systems market is primarily driven by the rising prevalence of various pulmonary diseases such as asthma, chronic pulmonary obstructive disease, and allergic rhinitis. The increased awareness among the population regarding the control and management of the pulmonary diseases is fueling the demand for the pulmonary drug delivery systems across the globe. The rising pollution levels due to rapid industrialization, rapid urbanization, increased prevalence of smoking, and changing lifestyles is resulting in the growing number of patients suffering from different pulmonary diseases.

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According to the World Health Organization, around 90% of the people breathe pollutant air and around 7 million people die every year due to indoor and outdoor pollution. Moreover, the presence of various key market players and their innovative product launches is impacting the increasing demand for the pulmonary drug delivery devices. For instance, in April 2019, Glenmark Pharmaceuticals Ltd. introduced to latest inhalers – one metered dosed inhale named Soprobec and another breathe actuated inhaler named Stalpex.

Report Highlights

• Based on the product, the metered dose inhaler segment dominated the market in 2020. The higher product acceptance and increasing prevalence of pulmonary diseases has fueled the growth of this segment. Moreover, the innovative product launches has further boosted the market growth.
• Based on the indication, asthma accounted for the largest market share in 2020. According to the WHO, asthma affects both the adults and children. Changing lifestyle, rapid urbanization, and extended exposure to harmful particles in air are the major reasons behind the increased prevalence of asthma. The higher demand for the pulmonary drug delivery systems for the treatment of asthma has augmented the growth of this segment.
• Based on the distribution channel, the e-commerce is estimated to be the most opportunistic segment during the forecast period. This is attributable to the increasing penetration of the online pharmacies due to the rising adoption of the smartphones and internet across the globe.
  
  

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Regional Snapshot

North America dominated the global pulmonary drug delivery systems market in 2020. This is attributed to the increased demand for the pulmonary drug delivery devices owing to the increasing prevalence of various pulmonary diseases. As per the Asthma and Allergy Foundation of America, around 25 million people were suffering from asthma in 2018 in US. Moreover, as per the American Lung Association, around 16.4 million people in US were diagnosed with some type of COPD such as emphysema, chronic bronchitis, and COPD. The increased healthcare expenditure, higher penetration of pharmacies, and better access to the healthcare facilities are the major factors that drives the demand for the pulmonary drug delivery systems in North America.

Asia Pacific is expected to be the fastest-growing market during the forecast period. This is attributed to the increasing air pollution levels in the region. Moreover, the changing lifestyle of the consumers and rapid industrialization is resulting in an alarming rise in the prevalence of the respiratory and pulmonary diseases. According to the World Health Organization, around 80% of the death due to COPD occurs in the low and middle income countries. Therefore, the presence of huge population and rising mortality rates is expected to drive the market growth in Asia Pacific.

Market Dynamics

Driver

Rise in the prevalence of pulmonary diseases

According to the World Health Organization, around 65 million people across the globe suffers from COPD and around 3 million dies due to it every year. Around 334 million people are suffering from asthma and around 14% of the global children are affected from it. The rising mortality rates and increased awareness regarding the pulmonary diseases is expected to drive the market growth during the forecast period.

Restraint

Stringent government regulations

The strict regulatory scenario and the regulatory requirements of the drug delivery systems is presenting a challenge to the market players because the pulmonary drug delivery systems are a combination of drug and device. Therefore, it is regulated under new provisions by the government.

Opportunity

New product launches

Philips launched a potable mesh nebulizer named InnoSpire Go in 2018. It is a portable, hand-held, and small-sized, and light-weight nebulizer that can administer drugs in just few minutes. Further, Lupin introduced Adhero in 2019. It is a device that tracks the usage pattern of the metered dose inhalers by the COPD patients. Therefore, the frequent product launches with new and innovative features is expected to drive the growth in the future.

Challenge

Lack of access to the healthcare facilities

There is a lack of adequate healthcare infrastructure and lack of access to basic health facilities in the developing and the underdeveloped markets. Most of the people remain undiagnosed and untreated, which may hamper the market growth.

Some of the prominent players in the global pulmonary drug delivery systems market include:

• GlaxoSmithKline PLC
• BoehringerIngelheim GmbH
• AstraZeneca PLC
• TevaPharmaceutical Industries Ltd.
• Philips Respironics
• 3M Healthcare
• PARI GmbH
• F. Hoffmann-La Roche AG
• Gilbert Technologies
• Omron Healthcare, Inc.

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