Global Pulmonary Drug Delivery Devices Market Is Expected To Reach USD 218.6 Bn By 2025
The latest market report published by Brisk Insights “Global Pulmonary Drug Delivery Devices Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2017 - 2025,” the Pulmonary Drug Delivery Devices market was valued at USD 134.6 Bn in 2016, and is expected to reach USD 218.6 Bn by 2025, expanding at a CAGR of 5.4% from 2017 to 2025.
Market Insights
Increasing demand for noninvasive drug administration for respiratory diseases through pulmonary route is expected to boost the market of such devices. According to market experts the efficiency of pulmonary drug delivery devices is high because lungs possess ability to provide large absorptive surface area (up to 100 m2 ) but extremely thin (0.1 µm – 0.2 µm) absorptive mucosal membrane and ample blood supply. Recent advances have developed the overall technology and formulation for pulmonary drug delivery devices. However, pulmonary delivery of peptides and proteins is still complicated due to the anatomic structure of human respiratory system and the effect of nature applied by the respiration process. The key factors responsible for growth of pulmonary drug delivery devices are rising prevalence of respiratory diseases, increasing air pollution in developed and developing countries, high public awareness associated with early diagnosis of respiratory diseases, and incessant research and development activities in the field of drug delivery.
Browse the full report Pulmonary Drug Delivery Devices Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2017 – 2025 at https://www.briskinsights.com/report/pulmonary-drug-delivery-devices-market
In year 2016, metered dose inhalers accounted for the largest market share in pulmonary drug devices market due to key drivers rising prevalence of asthma and COPD across the globe, high patient convenience, the products and technology has penetrated in market over these years, and observed as the most preferred technology by physicians. During the forecast period 2017 – 2025, dry powder inhalers were anticipated as the fastest growing segment due to key driving factors such as short administration and preparation time, fewer irritant effects and control of inhaled dose, and API protection. A few major brands available in dry powder inhalers category are Spiriva, Atrovent, Foradil, Rotahaler, and FlowCaps among others.
The major application of pulmonary drug delivery devices is into asthma and COPD, in year 2016 asthma accounted for the largest market share due to rising prevalence of asthma, most preferred mode of treatment in asthma, and increasing public awareness related to respiratory diseases. According to World Health Organization (WHO), it is estimated that approximately 334 million people currently suffer from asthma, and 250,000 deaths are attributed to the disease each year. The prevalence of the disease is continuing to grow, and the overall prevalence is estimated to increase by 100 million by 2025. Thus, asthma segment is expected to grow during the forecast period 2017 – 2025 and ultimately assist the growth of overall pulmonary drug delivery devices market.
North America was observed as the largest pulmonary drug delivery devices market due to rising prevalence of respiratory diseases, trending patients and physicians preferences for user friendly drug delivery devices, and increasing demand for fast acting & efficient drug delivery technology. The overall developed healthcare infrastructure, high patient awareness associated with respiratory disease management, and incessant research and development activities in the field of pulmonary drug delivery industry. During forecast 2017 – 2025, Asia Pacific was observed as the fastest growing market segment due to developing healthcare infrastructure, mounting economic growth is fueling air pollution, high public awareness related to respiratory diseases and hygiene, and increasing disposable income.
Market Competition Assessment:
The pulmonary drug delivery devices market is observed as the most diversified and competitive market comprising large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are GlaxoSmithKline, Boehringer Ingelheim GmbH, 3M, AstraZeneca plc, Merck & Co., Inc., Novartis AG, Omron Corporation and Sunovion Pharmaceuticals Inc. among others.
Key Market Movements:
- Rising prevalence of respiratory diseases especially asthma and COPD
- Increasing industrialization and economic growth is fuelling the air pollution causing rise in asthma and COPD
- User friendly, fast acting and cost efficient pulmonary drug delivery devices are in demand