Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Respiratory Drug Delivery Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for the Respiratory Drug Delivery Market is forecast to surpass US$67 billion in 2024, with strong revenue growth through to 2034.
Launch of Smart/Digital Inhalers Spur Industry Growth
At present, smart inhalers just record the patient's actuation, which is a time and date stamp, during use. Numerous firms are producing devices that can be connected to inhalers that are currently in use. Leading the way in this trend are the American organisations Propeller Health and Adherium, both of which were founded in New Zealand. Data from clinical studies conducted by both firms indicate that patients might gain advantages from utilising their products. In another instance, Innovate UK provided co-funding to Aseptika, a firm that specialises in developing intelligent inhalers for patients with chronic respiratory conditions, in January 2023. With integrated 5G mobile connectivity, the company's third-generation smart inhaler tracker will be developed further with the help of the Smart Award.
Stringent Government Regulations Likely to Challenge Industry Growth
The FDA usually goes through lengthy and laborious processes to approve medical devices, drugs, and drug technology before a product can be sold. This usually poses a challenge to companies that conduct intensive R&D in order to launch new products on the market. Authorities rigorously verify the product's safety and use before making it available for sale to the general public. As a drug-device combination of 97 items, MDIs and DPIs are mixed products subject to the current good manufacturing practice (CGMP) requirements for pharmaceuticals and devices.
In particular, they apply to all MDIs and DPIs that have a device component that is subject to design controls (21 CFR 820.30). Industry guidelines on pharmaceutical development, which are founded on the concepts of quality via design, address the processes of product design and development. Even though quality via 110 design and design controls have the same features and objectives, the Quality System 111 Regulation (21 CFR 820) for devices provides design requirements.
Market Dynamics
Market Driving Factors
- Technological Advancements in Respiratory Drug Delivery Expected to Boost the Market
- Outbreak of COVID-19 Pandemic
- Growing Support of Government and NGOs for Respiratory Diseases Healthcare Awareness
- Launch of Smart/Digital Inhalers will Propel the Adoption of Advanced Drug Delivery Devices
Market Restraining Factors
- Stringent Government Regulations is Expected to Hinder the Market Growth
- Intense Competition Among Vendors is Projected to Restrain the Market Growth
- Pricing Pressure a Major Challenge
- Challenges Associated with Respiratory Drugs Delivery Design
Market Opportunities
- Trends in Metered Dose Inhaler (MDI) Technology is Expected to Propel the Market in Near Future
- Mergers, Agreements, and Acquisitions by Market Players is a Major Trend Witnessed in the Market
- Dry Powder Drug Delivery Product Innovation Driving the Adoption of Respiratory Drugs
- Increase in Research and Development in Pulmonary Drug Delivery System
Forecasts to 2034 and other analyses reveal commercial prospects:
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), impact of rising respiratory drug delivery prices and recent developments.
Segments Covered in the Report
Product:
- Formulations
- Devices
Formulations:
- Dry Powder
- Suspension Aerosol
- Solution Aerosol
Devices:
- Metered Dose Inhalers (MDIs)
- Dry Powder Inhalers (DPIs)
- Nebulizers
- Accessories
Nebulizers:
- Soft Mist Nebulizers
- Jet Nebulizers
- Ultrasonic Nebulizers
Canister:
- Plain Canisters
- Coated Canister
Application:
- Asthma
- COPD
- Cystic Fibrosis
- Others
End-users:
- Homecare settings
- Hospitals & Clinics
- Other End-users
The report also includes profiles and for some of the leading companies in the Respiratory Drug Delivery Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies profiled in the report:
- 3M
- AptarGroup Inc.
- AstraZeneca
- Boehringer Ingelheim International GmbH
- Cipla Inc.
- GF Health Products Inc.
- Glenmark Pharmaceuticals Ltd.
- GSK plc.
- Koninklijke Philips N.V.
- Medisana GmbH
- Merck & Co.
- Novartis AG
- Omron Corporation
- Recipharm AB
- Sumitomo Pharma Co., Ltd.
- Teva Pharmaceutical Industries Ltd.
- Vapotherm
The report provides you with the following knowledge:-
- Revenue forecasts to 2034 for Respiratory Drug Delivery Market, 2024 to 2034, with forecasts for product, formulations, devices, nebulizers, canister, application and end-users, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for five regional and 25 key national markets - See forecasts for the Respiratory Drug Delivery Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America, and MEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, Spain, Switzerland, Russia, China, India, Japan, Australia, South Korea, South East Asia, Argentina, GCC, South Africa, and Egypt among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 17 of the major companies involved in the Respiratory Drug Delivery Market, 2024 to 2034.
For more information about this report visit https://www.researchandmarkets.com/r/orc0ed
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