Global pulmonary drug delivery systems market is anticipated to exhibit a lucrative market over the forecast period owing as a consequence of rising prevalence of chronic diseases such as tuberculosis, diabetes mellitus and chronic obstructive pulmonary disease which require more rigorous treatment. Limitations pertaining to traditional treatments including low efficacy and late onset of action are expected to induce the need of developing targeted drug delivery systems, thereby driving the demand for the market over the next seven years. Technological advancements such as particle engineering, agglomerated vesicle technology, incorporation of MDI technology, supercritical fluid technology are expected to boost the market growth further. These advancements, which include minimizing unwanted toxicities, improved stability with drugs, increased bioavailability of drugs, no degradation of drug and localized drug deposition, are expected to facilitate the demand for the market. Furthermore, other benefits associated with pulmonary drug delivery systems such as rapid treatment of local respiratory disorders, better penetrability of drug, minimum dosage requirement, targeted therapy, higher patient safety and avoidance of gastrointestinal problems are anticipated to propel the market growth potential over the forecast period.
The global pulmonary drug delivery systems market is categorized on the basis of product and application. On the basis of product it is segmented into metered dose inhalers, nebulizers and dry powder inhalers. Nebulizers are further segmented into jet nebulizers, ultrasonic nebulizers and vibrating mesh nebulizers. On the basis of application, the market is segregated into asthma, cystic fibrosis and chronic obstructive pulmonary disease (COPD). As of 2014, nebulizers followed by metered dose inhalers held the substantial share of the pulmonary drug delivery systems market due to direct application of drugs to the airways for the treatment of respiratory diseases such as asthma & COPD. Treatment advances such as usage of enantiomer preparations of inhaled drugs leading to better efficacy also played a significant role in the overall growth of this segment. Dry powder inhalers are expected to be the fastest growing segment owing to factors such as advancements in formulating technology facilitating treatment in outpatient settings. Furthermore, applications of computational fluid dynamics such as airflow changes anddeagglomeration in this segment result in better design & development of DPI devices are also expected to induce demand for this segment over the forecast period.
Geographically, the pulmonary drug delivery system market is segmented into North America, Europe, Asia Pacific, Latin America and MEA. As of 2014, North America held substantial share owing to prominent growth factors including increasing incidences of pulmonary disorders such as bronchitis, rising prevalence of geriatric population, advanced healthcare infrastructure, vast lifestyle associated changes and high disposable income. Additionally, government initiatives and increasing health awareness in this region is also responsible for the growth of pulmonary drug delivery systems market. Furthermore, the rising number of mergers & acquisitions between pharmaceutical companies and technology providers and increased demand for self-administration & outpatient healthcare devices boosted the market in this region. Asia Pacific region is expected to be the fastest growing market as a consequence of contributing factors such as improving healthcare infrastructure, rising disposable income and increasing patient awareness levels. Furthermore, new market players leading to increasing competition is anticipated to play a significant role in providing growth potential to the pulmonary drug delivery systems market in this region over the forecast period.
Major players of pulmonary drug delivery systems market such as CareFusion Corporation, Novartis AG, GlaxoSmithKline, Sunovion Pharmaceuticals Inc., Boehringer Ingelheim, Merck & Co., Allied Healthcare Products, Inc., 3M Health Care, PARI Respiratory Equipment, Inc., Omron Healthcare, Inc., Philips Respironics, Inc., and GF Health Products Inc. These companies focus on unmet market needs, targeting regions, development of innovative products and mergers & acquisitions in order to expand their market share. Additionally, these players provide services which are aimed at improving quality of the drug delivery systems and better patient care. Moreover, need for more efficient systems and competition among new market entrants are anticipated to provide growth platform to the pulmonary drug delivery systems market over the forecast period.
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