Healthcare & Pharmaceutical

Pulmonary Drug Delivery Devices Market Analysis by Product (Metered Dose Inhalers, Dry Powder Inhalers, Nebulizers, and Accessories); by Application (Asthma, Cystic Fibrosis, COPD, Allergic Rhinitis, and Others); and by Distribution Channel (Retail Pharmacies, Hospital Pharmacies, and E-Commerce) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

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Report ID: 4410 | Published On: Dec 15, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • Novartis AG reported that a new treatment option for Japanese patients was approved by the Ministry of Health, Labour, and Welfare (MHLW). NSCLC with METex14 mutations can be treated with TabrectaTM (capmatinib, formerly INC280), an oral MET inhibitor.

  • Lupin Limited launched Adhero, a smart inhaler tracking device designed to support the treatment of COPD patients.


Global Pulmonary Drug Delivery Devices Market Definition

The pulmonary drug delivery method involves inhaling medication through the lungs and delivering it into the bloodstream. Pulmonary drug delivery is a noninvasive, safer method than intradermal or arterial injections. Also, respiratory disorders including asthma, chronic obstructive pulmonary disease, and emphysema disease are therapeutic areas of the pulmonary field. Pulmonary drug delivery devices are targeted drug delivery systems where the drug is directly infused into the body through the pulmonary route via inhalation. The increasing pollution is leading to the increasing prevalence of pulmonary diseases.


Global Pulmonary Drug Delivery Devices Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~7%

Base Year Market Size (2023)

~ USD 53 Billion

Forecast Year Market Size (2035)

~ USD 105 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)


Global Pulmonary Drug Delivery Devices Market Size, Forecast, and Trend Highlights Over 2023 - 2035

The global pulmonary drug delivery devices market is estimated to garner a revenue of USD 105 Billion by the end of 2035 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 53 Billion in the year 2023. The growth of the market can be primarily attributed to the surge in cases of asthma worldwide, the increasing incidence of pulmonary disorders, and growing funds from government and private organizations for better therapy management. According to the World Health Organization, an estimated 262 million people suffered from asthma around the world in 2019 and it caused 455 000 deaths.

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Moreover, technological advancements, increasing consumption of tobacco and smoking, exposure to air pollution, along with development in drug delivery systems are anticipated to fuel market growth during the forecast period. For instance, in February 2022, AptarGroup, Inc. launched HeroTracker Sense, a smart connected respiratory health device, which transforms a standard metered dose inhaler (pMDI) into a digital respiratory health tool.


pulmonary drug delivery market overview
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Global Pulmonary Drug Delivery Devices Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Prevalence of Chronic Respiratory Diseases as Air Pollution is Increasing - For instance, in 2019 chronic respiratory diseases accounted for more than 260,400 deaths in men and nearly 250,700 deaths in women in the United States. 

Chronic respiratory diseases such as obstructive pulmonary disease (COPD) and asthma are commonly treated with pulmonary devices that deliver medication to the respiratory tract, such as inhalers. These medications are used both to prevent exacerbations of chronic conditions and to treat them. Thus, the rising prevalence of respiratory diseases is anticipated to propel the demand for pulmonary drug delivery devices during the forecast period.

  • Increase in the Number of Hospitals and Diagnostic Centers with Growing Awareness of People about Early Diagnosis - In the year 2021-22, Foreign Direct Investment (FDI) fund infusion into hospitals and diagnostic centers in India increased by 37% to USD 690 million.

  • Continuous Rise in COVID – 19 Cases Worldwide that Affected the Lungs of the People - For instance, the United States averaged nearly 30,000 new cases of COVID-19 every day in April 2022, 2% more than in previous weeks.

  • Increasing Air Pollutants Owing to Rising Industrialization and Urbanization - World Health Organization (WHO) statistics show that in 2018, 9 out of 10 people inhaled polluted air. There are about 7 million deaths each year from chronic obstructive pulmonary diseases caused by exposure to fine particles in polluted air.

  • Rise in Exports of Medical Appliances with Increasing Improvement and Advancements in Healthcare Sector - According to the statistics by the International Trade Center (Trademap), the global value of exports of medical appliances in the year 2021 was recorded to be USD 14,170,931 thousand, which was an increase from USD 12,754,842 thousand in the previous year.

Challenges

  • Presence of Alternative Drug Delivery Systems

  • Strict Government Regulations of Product Approval

  • Side Effects Related to Long Term Use of the Product- The change in humidity, airway geometry, mucociliary clearance, and alveolar macrophages are playing a major role in alterations of the devices and are the barriers to the effective functioning of the medications. These can hence hinder market growth. The active principle of thermosensitive inhaled drugs can change owing to the temperature of the surrounding climate.

The global pulmonary drug delivery devices market is segmented and analyzed for demand and supply by application into asthma, cystic fibrosis, COPD, allergic rhinitis, and others. Among these segments, the COPD segment is anticipated to capture the largest market size in the global pulmonary drug delivery devices market owing to the higher prevalence and severity of this disease worldwide. For instance, COPD prevalence worldwide was 10% in 2019, accounting for 390 million cases among people over 40 years. Moreover, treatment for COPD is subsidized by government policies and non-governmental organizations are increasingly providing COPD treatment, these factors are anticipated to drive segment growth during the forecast period.


Global Pulmonary Drug Delivery Devices Market Regional Synopsis

The North America region pulmonary drug delivery devices market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The increasing prevalence of lung diseases such as COPD, chronic bronchitis, and asthma. It was observed that in 2018, there were 8.9 million adults in the United States who experienced chronic bronchitis, or 3.5% of those over the age of 18 years. Furthermore, increasing healthcare spending, rising disposable income, presence of major key players, changes in lifestyle, and growing demand for diagnostic devices are factors anticipated to fuel the pulmonary drug delivery devices market growth in the region during the forecast period.


Market Segmentation

Our in-depth analysis of the global pulmonary drug delivery devices market includes the following segments:

        By Product

  • Metered Dose Inhalers
  • Dry Powder Inhalers
  • Nebulizers
  • Accessories

        By Application

  • Asthma
  • Cystic Fibrosis
  • COPD
  • Allergic Rhinitis
  • Others

         By Distribution Channel

  • Retail Pharmacies
  • Hospital Pharmacies
  • E-Commerc

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Top Featured Companies Dominating the Global Pulmonary Drug Delivery Devices Market

    • Novartis AG

      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Lupin Limited
    • Briggs Healthcare
    • Boehringer Ingelheim GmbH
    • Koninklijke Philips N.V.
    • Merck & Co., Inc
    • 3M Healthcare
    • AstraZeneca plc
    • GlaxoSmithKline plc
    • GF Health Products, Inc.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the pulmonary drug delivery devices market?

Ans: Increasing prevalence of respiratory diseases such as asthma, lung infection, surge in COVID-19 cases, coupled with rising number of diagnostic centers are the major factors driving the growth of the pulmonary drug delivery devices market.

2) What would be the CAGR of pulmonary drug delivery devices market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the pulmonary drug delivery devices market growth?

Ans: The presence of alternative drug delivery systems and strict government regulations of product approval are the challenges affecting the market growth.

4) Which region will provide more business opportunities for growth of pulmonary drug delivery devices market in future?

Ans: The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the pulmonary drug delivery devices market?

Ans: The major players in the market are Novartis AG, Lupin Limited, Briggs Healthcare, Boehringer Ingelheim GmbH, Koninklijke Philips N.V., Merck & Co., Inc, 3M Healthcare, AstraZeneca plc, GlaxoSmithKline plc, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the pulmonary drug delivery devices market?

Ans: The market is segmented by product, application, distribution channel, and by region.

8) Which segment captures the largest market size in application segment in the pulmonary drug delivery devices market?

Ans: The COPD segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

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