(PharmaNewsWire.Com, November 19, 2019 ) According to the new market research report "Global Respiratory Drug Delivery Market by Formulation (Type (Solution, Suspension, Dry powder), Device Type (Metered dose, Dry Powder, Nebulizer)), Canister (Plain, Coated), End User (Hospitals, Homecare), Applications (COPD) - Forecasts to 2021", published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities.
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The global pulmonary drug delivery market is projected to reach USD 52.37 Billion by 2021 from USD 36.10 Billion in 2016, at a CAGR of 6.5% during the forecast period. Growth in this market is mainly driven by increasing preference of pulmonary route of drug delivery, increasing technological developments in the form of smart/digital inhalers and rising incidences of respiratory diseases such as COPD, asthma, and cystic fibrosis.
The respiratory drug delivery market by formulation segment is further divided into device type and formulation type. The market, by device type, is categorized into metered dose inhalers, dry powder inhalers, and nebulizers. The dry powder inhalers segment is expected to witness the highest growth during the forecast period due to the advantages associated with the use of these inhalers, such as short administration & preparation time, ease of use, and fewer irritant effects.
The pulmonary drug delivery market, based on formulation type, is segmented into suspension aerosol, solution aerosol, and dry powder formulation. The dry powder formulation segment is expected to witness the highest growth during the forecast period due to improved dosage accuracy, minimized dosage variability, and improved flow of drug particles.
The pulmonary drug delivery market, based on formulation type, is segmented into suspension aerosol, solution aerosol, and dry powder formulation. The dry powder formulation segment is expected to witness the highest growth during the forecast period due to improved dosage accuracy, minimized dosage variability, and improved flow of drug particles.
Based on applications, the market is segmented into asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and other applications (cardiovascular disease, diabetes, respiratory therapy, and treatment of patients on ventilators). The asthma segment accounts for the major share in the market during the forecast period due to increasing prevalence of asthma across the globe.
Currently, North America dominates the pulmonary drug delivery devices market, and Asia represents the second-largest regional market. Moreover, the Asian market is expected to register the highest CAGR during the forecast period due to the rapidly growing geriatric population, growing adoption of an unhealthy lifestyle, growing urbanization, exposure to smoke & chemicals, and the subsequent increase in the prevalence of COPD in the region.
Prominent players in the pulmonary drug delivery market include GlaxoSmithKline (U.K.), Boehringer Ingelheim GmbH (Germany), 3M (U.S.), AstraZeneca plc (U.K.), Merck & Co., Inc. (U.S.), Novartis AG (Switzerland), Omron Corporation (Japan), and Sunovion Pharmaceuticals Inc. (U.S.).
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