The Pulmonary Drug Delivery Systems Market is expected to register a CAGR of 4% during the forecast period. This is attributing to technological advancements, increasing incidence of respiratory diseases, increasing preference for pulmonary drug delivery as an alternate route of drug delivery. Pulmonary drug delivery systems are ideal drug approaches compared to conventional drug delivery approaches due to several advantages associated with this delivery system such as huge surface area present in alveolar sacs, high drug loading efficiency, and high vascularization which makes the lung appropriate site for drug absorption. Moreover, increasing incidences of chronic respiratory diseases will surge the demand for a pulmonary drug delivery system. As per the Global Asthma Report 2018, around 339 million people are affected by Asthma globally. The significant increase in the targeted patient pool compared to the previous year will promote the demand for pulmonary drug delivery systems. Furthermore, technological advancement associated with the pulmonary drug delivery system coupled with government and non-government initiatives will create lucrative opportunities for the market in the coming years.
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Key Market Trends
Pulmonary Drug Delivery Systems in Asthma is Estimated to Witness a Healthy Growth in Future.
Pulmonary Drug Delivery Systems in asthma is estimated to witness healthy growth in the future which is attributed to an increasing number of populations affected by asthma and high adoption of metered-dose inhalers (MDI) and dry powder inhaler (DPI) for asthmatic patients. Benefits associated with these devices such as cost-effectiveness, high acceptance rate, short administration and preparation time, and technological advancements make these devices highly preferable for the treatment of several types of respiratory diseases.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a significant market share in the global Pulmonary Drug Delivery Systems Market due to the rising geriatric population, presence of key pharmaceuticals and medical device players, changing lifestyle, increasing healthcare expenditure, and high disposable income. Moreover, increasing incidences of COPD and asthma and growing demand for diagnostic devices will also boost the market in this region.
The Pulmonary Drug Delivery Systems Market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Koninklijke Philips N.V, GlaxoSmithKline plc., 3M, Novartis AG, Boehringer Ingelheim International GmbH, AstraZeneca, Cipla Inc, Merck & Co., and GF Health Products, Inc.\