Pulmonary Drug Delivery Devices Market SWOT Analysis, Dynamics, Drivers, Key Indicators and Forecast 2031

Pulmonary Drug Delivery Devices Market Outlook 2031
The global pulmonary drug delivery devices market was valued at US$ 35.2 Bn in 2021

It is estimated to grow at a CAGR of 4.7% from 2022 to 2031

The global pulmonary drug delivery devices market is expected to exceed the value of US$ 49.5 Bn by the end of 2031

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Overview of Global Pulmonary Drug Delivery Devices Market
Pulmonary drug delivery systems refer to technologies that are used to treat diseases such as asthma, chronic obstructive pulmonary disease (COPD), and cystic fibrosis using pulmonary route of drug administration. These systems have been in medical use for more than six decades. However, recent technological advancements in pulmonary drug delivery systems have expanded their potential application in other diseases such as diabetes, lung cancer, and others.

The pulmonary drug delivery market deals with devices that help with the inhalation of drug formulation through mouth and further deposition of inhaled pharmacological agent in lower airways. The rise in prevalence of major respiratory problems such as COPD, asthma, and cystic fibrosis is a major factor driving the global pulmonary drug delivery devices market.

The global pulmonary drug delivery devices market has been segmented on the basis of product type, application, and distribution channel. In terms of product type, the global pulmonary drug delivery devices market has been classified into dry powder inhalers, metered dose inhalers, and nebulizers. Based on application, the global pulmonary drug delivery devices market has been categorized into asthma, COPD, cystic fibrosis, and others.

In terms of distribution channel, the global pulmonary drug delivery devices market has been divided into retail pharmacies, hospital pharmacies, and e-commerce.

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Increase in Prevalence and Incidence of Respiratory Diseases to Drive Global Market
The surge in trend of pulmonary drug delivery due to large absorptive area, thin absorptive mucosal membrane, and efficient blood supply is likely to propel the global pulmonary drug delivery devices market. The growing need of minimal invasive and effective treatment, and rise in the number of people with habit of smoking are projected to fuel the growth of the global pulmonary drug delivery devices market.

Moreover, increase in incidence of chronic respiratory diseases is projected to drive the demand for pulmonary drug delivery systems (PDDS) in the near future. According to data published by the Global Asthma Network (GAN) in "The Global Asthma Report 2014", asthma affects around 334 million people globally. Rise in prevalence and incidence of respiratory diseases has led to an increase in the patient population, which in turn has fueled the demand for these systems. This consequent increase in demand is likely to propel the global market in the next few years.

Surge in Number of Initiatives Undertaken by Government and Non-Government Organizations
Rise in the number of initiatives undertaken by government and non-government organizations drives the global pulmonary drug delivery devices market, in terms of revenue. For instance, the CDC's National Asthma Control Program (NACP) provides funds for educating asthma affected patients. Such initiatives are likely to increase awareness about asthma, which will drive the adoption of PDDS in the treatment of chronic obstructive pulmonary disease (COPD) and asthma.

High Adoption Rate of Metered Dose Inhalers for Effective Inhalation Therapy for Asthma
In terms of product type, the global pulmonary drug delivery devices market has been classified into dry powder inhalers, metered dose inhalers, and nebulizers. The metered dose inhalers (MDI) segment held key market share in 2020. Presence of major players involved in the development of novel MDIs and high acceptance rate of these devices in developing regions, such as Asia Pacific and Latin America, are the major factors propelling the segment.

Based on application, the global pulmonary drug delivery devices market has been categorized into asthma, COPD, cystic fibrosis, and others. The asthma segment held key share of the global market in 2020. An effective inhalation therapy that uses DPIs and MDIs is considered the basis of asthma management. The demand and usage of devices such as MDIs and DPIs for asthma management are increasing due to high number of people affected by asthma, which in turn fuels the growth of the asthma segment.

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Rise in Hospitalizations to Fuel Growth of Global Pulmonary Drug Delivery Devices Market
Based on distribution channel, the global pulmonary drug delivery devices market has been categorized into retail pharmacies, hospital pharmacies, and e-commerce. The hospital pharmacies segment held notable share of the global pulmonary drug delivery devices market in 2021, and the trend is projected to continue in the near future. Hospitals offer extensive treatments, care, quick reimbursements, and insurance policies due to which patients prefer hospital pharmacies. Moreover, increase in the number of hospitalizations is anticipated to fuel the growth of the segment.

Regional Outlook of Global Pulmonary Drug Delivery Devices Market
In terms of region, the global pulmonary drug delivery devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global pulmonary drug delivery devices market in 2021, followed by Europe. This can be attributed to the increase in incidence of diseases such as COPD and asthma. Rise in the number of patients affected by these diseases increases the demand for diagnostic devices, including PDDS, thereby propelling the market in the region.

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Analysis of Key Players in Global Pulmonary Drug Delivery Devices Market
This report by Transparency Market Research profiles key players in the global pulmonary drug delivery devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. The global pulmonary drug delivery devices market is highly fragmented, with the presence of a number of international as well as regional players.

Leading players operating in the global pulmonary drug delivery devices market are Boehringer Ingelheim GmbH, Novartis AG, GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd., AstraZeneca plc, Merck & Co., Inc., MannKind Corporation, F. Hoffmann-La Roche Ltd., Bristol-Myers Squibb Company, Mylan N.V., Omron Corporation, 3M Healthcare, Sunovion Pharmaceuticals, Inc., Koninklijke Philips N.V., Gerresheimer AG, Bespak, AptarGroup, Inc., SHL Group, Nypro Healthcare, Inc. (Jabil Circuit, Inc.), Hovione, and Chiesi Farmaceutici S.p.A., among others.

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