The global Pulmonary Drug Delivery Systems market size is expected to be worth around US$ 65.1 billion by 2030, according to a new report by Vision Research Reports.
The global Pulmonary Drug Delivery Systems market size was valued at US$ 76.5 billion in 2020 and is anticipated to grow at a CAGR of 14.7 % during forecast period 2021 to 2030.
Growth Factors
Increasing prevalence of chronic respiratory diseases is expected to boost the adoption of Pulmonary Drug Delivery Systems (PDDS). As per WHO, 235 million people suffer from asthma globally. Majority of the asthma-related deaths occur in middle- to low-income countries due to a lack of treatment options. This shows the potential demand for pulmonary drug delivery systems in the coming years.
Technological advancements in the field of drug delivery are expected to positively impact the pulmonary drug delivery devices market. These advancements include the incorporation of agglomerated vesicle technology, MDI electronic dose counter, particle engineering, and supercritical fluid technology. Rising demand for new products, changing lifestyle, ease of use, and better facilities are factors expected to provide lucrative opportunities.
Furthermore, a rise in the number of public and private organizations is another major factor propelling the growth of the pulmonary drug delivery devices market. For instance, organizations such as the Asia Pacific Association of Allergy, Asthma and Clinical Immunology (APAAACI) are engaged in providing information in clinical and basic research on allergy, asthma, and clinical immunology. Such initiatives are in turn expected to increase the market demand for respiratory drug delivery devices in developing regions, thereby boosting the overall market growth.
Report Highlights
Metered Dose Inhalers (MDI) segment held the largest share of 66.7% of the market in 2020. The presence of global key players involved in the development of novel MDIs and the high acceptance rate of these devices in developing regions, such as Asia Pacific and Latin America, are some of the factors responsible for the revenue generated by this segment.
Dry Powder Inhaler (DPI) segment is anticipated to grow at a lucrative rate during the future period. Advantages such as cost-effectiveness, short administration, and preparation time, and others are anticipated to increase the use of these inhalers by end users. Due to technological advancements, DPI emerged as a preferred medical device for the treatment of a diverse range of respiratory disorders, which has in turn increased the utilization of these products. The abovementioned factors are likely to propel the growth of this segment.
are projected to grow at a steady rate over the future period. These devices are the most frequently used inhalation devices in hospitals. Nebulizers have a high adoption rate in home care and emergency medicine due to their benefits, such as greater comfort, administration of large dosage, and favorable reimbursement scenario, which is expected to help maintain a steady demand for this product segment.
The accessories segment is estimated to grow at a CAGR of 5.6% owing to the launch of new products and extensive R&D in this field. These products are necessary for efficient drug delivery to a patient’s lungs. Abovementioned factors are anticipated to support the segment development
The asthma segment held the dominant share in 2020. An effective inhalation therapy that uses DPIs and MDIs is considered to be the basis of asthma management. Owing to the high number of people affected by asthma, the demand, and usage of devices such as MDIs and DPIs for asthma management are increasing, boosting the growth of this application.
The dynamic growth of the COPD segment can be attributed to the high incidence and mortality of this disease. Favorable reimbursement policies for the treatment of COPD and a rise in the number of government and non-government organizations that provide COPD treatment are increasing revenue generated by this segment. Owing to these factors, the COPD segment is expected to grow consistently.
Treatment of allergic rhinitis involves the use of nasal sprays, dry powder inhalers, and allergy shots. According to the National Center for Health Statistics (NCHS), in 2020, 20 million adults aged more than 18 years and 6.1 million children in the U.S. were diagnosed with allergic rhinitis. Due to a large patient pool, the demand for PDDS devices is projected to increase, resulting in the development of this segment.
The other application segment is anticipated to exhibit progress owing to the rise in patients diagnosed with various chronic diseases. According to the CDC, in 2020, 29.4 million adults were diagnosed with sinusitis in the U.S. Treatment of such diseases demands the use of PDDS. These factors are expected to provide this segment growth opportunity.
Hospital pharmacies segment held the dominant share of the PDDS in 2020 and is projected to continue its dominance in the future. Hospitals provide extensive treatments, care, quick reimbursements, and insurance policies owing to which patients prefer hospital pharmacies. Furthermore, an increased number of hospitalizations is expected to boost the growth of this segment.
Retail pharmacies are expected to show steady growth over the future period, owing to easy accessibility and affordability. Hospitals and clinics rely on retail pharmacies as a backup for medications. Moreover, most of the home care products are available in retail pharmacies. These factors are likely to be responsible for the constant growth of this segment.
E-commerce is anticipated to grow at a CAGR of 5.4% during the forecast period. Various factors such as improving healthcare infrastructure in developing regions and convenience of purchasing in comparison to retail or hospital pharmacies have supported the growth of this distribution channel to a great extent.
The trend of online purchasing and the demand for it is growing due to comfort, flexibility, and convenience, which is increasing the revenue generated by this segment. Moreover, online shopping offers discounts that benefit customers. These factors are expected to collectively boost the demand for online pharmacies.
hospitals accounted for the largest revenue share of the PDDS. Hospitals are currently advancing in terms of technology usage. Technologically advanced medical devices are being extensively used in hospitals to improve point-of-care. Furthermore, hospitals also provide a wide array of treatments for various respiratory diseases.
In developed regions such as North America and Europe, hospitals also provide quick reimbursements for COPD treatment under the Medicare program. These facts are expected to stimulate the utilization of PDDS devices in hospital settings, leading to growth.
The home care segment is expected to exhibit lucrative growth over the future period. Growing preference for home healthcare is expected to boost the use of PDDS devices in home care settings. An increase in the cost of health care services and a shortage of healthcare facilities have also led to an increase in demand for home care services.
The introduction of technologically advanced devices, which are portable and small-sized, has resulted in patients using such products at home. These devices are convenient, easy-to-use, and do not require any special training to operate. These associated advantages are expected to increase the adoption of PDDS in home care, thereby boosting the growth of this segment.
North America held the dominant share of PDDS and was valued at USD 14.9 billion in 2020. This growth can be attributed to the rising incidence of diseases such as COPD and asthma. A rise in the number of patients affected by these diseases, increases the demand for diagnostic devices, such as PDDS, thereby boosting the growth of this region.
In addition, the local presence of key pharmaceutical and medical devices players, advanced healthcare infrastructure, aging population, high disposable income, and lifestyle changes are factors contributing to the overall growth of the North America respiratory drug delivery devices market.
Key Players
GlaxoSmithKline plc, Philips Respironics, Boehringer Ingelheim GmbH, Novartis AG, 3M Healthcare, GF Health Products, Inc., Merck & Co., Inc., and AstraZeneca.
Market Segmentation
Product Outlook
Metered Dose Inhalers
Dry Powder Inhalers
Nebulizers
Mesh
Vibrating
Static
Pneumatic
Vented
Breath Actuated
Ultrasonic
Accessories
Application Outlook
Asthma
Cystic Fibrosis
COPD
Allergic Rhinitis
Others
Distribution Channel Outlook
Retail Pharmacies
Hospital Pharmacies
E-Commerce
End-use Outlook
Hospitals & Clinics
Homecare
Regional Outlook
North America
The U.S.
Canada
Europe
The U.K.
Germany
Asia Pacific
Japan
China
India
Latin America
Brazil
Mexico
The Middle East and Africa
South Africa
The Pulmonary Drug Delivery Systems market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Pulmonary Drug Delivery Systems market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Pulmonary Drug Delivery Systems market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Pulmonary Drug Delivery Systems market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Pulmonary Drug Delivery Systems market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Pulmonary Drug Delivery Systems capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Pulmonary Drug Delivery Systems by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Pulmonary Drug Delivery Systems market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Pulmonary Drug Delivery Systems market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Pulmonary Drug Delivery Systems market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Pulmonary Drug Delivery Systems industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Pulmonary Drug Delivery Systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Pulmonary Drug Delivery Systems market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Pulmonary Drug Delivery Systems market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Pulmonary Drug Delivery Systems market. These factors have benefited the growth of the global market for Pulmonary Drug Delivery Systems. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Pulmonary Drug Delivery Systems. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Pulmonary Drug Delivery Systems are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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