Global Pulmonary Drug Delivery Market to Exhibit Significant Growth at 5.06% CAGR

According to Inkwood Research, the Global Pulmonary Drug Delivery Market is projected to register a CAGR of 5.06% in terms of revenue during the forecasting years of 2019-2028.

"Browse 59 Market Data Tables and 55 Figures spread over 229 Pages, along with an in-depth TOC on the Global Pulmonary Drug Delivery Market Forecast 2019-2028."

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Pulmonary drug delivery (PPD) systems are primarily used to treat conditions of the airways, including systemic and local types of lung diseases. They are characterized by the ability to deliver medication to the necessary site in the body, either directly or by other remote sites through the bloodstream. Different kinds of such drug delivery systems include inhalers and nebulizers, introduced as a substitute treatment for respiratory conditions.

Advancements in Technology Propel Market Growth

The market is largely fuelled by the rising technical enhancements in pulmonary drug delivery, and is projected to present the market with prospective growth opportunities. For instance, drug delivery solutions have become portable, automatic, and convenient, owing to technical improvements like MDI dose counter technology, agglomerated vesicle technology, supercritical fluid technology, and particle engineering. Moreover, limitations concerning conventional treatments like reduced efficiency and late-onset of action are inclined to hike the development of innovative, technologically advanced, and targeted drug delivery systems.

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Chronic Obstructive Pulmonary Disorder (COPD) is the Fastest-Growing Application

The chronic obstructive pulmonary disease segment, under the application category, is anticipated to display extensive growth during the forecast years, owing to the rising number of the patient base. According to the World Health Organization (WHO), the chronic respiratory condition is life-threatening, with more than 250 million cases recorded, in 2016. Among the fatalities registered, nearly 90% of COPD deaths were primarily observed in lower-and middle-income nations.

Moreover, according to WHO estimations, the condition is expected to become the third leading cause of death worldwide by 2030. Although COPD is not curable, the disease progression can be delayed with proper medication and treatment. Thus, high prevalence and rising death rates are predicted to bolster the demand for pulmonary drug delivery.

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Asia Pacific is set to project the Highest CAGR by 2028

The incidence of chronic obstructive pulmonary disease (COPD) in the Asia Pacific, demonstrates a significant socio-economic weight in the region. Moreover, the rising prevalence of allergic rhinitis and asthma, and the presence of supportive non-government organizations are primary factors driving market growth. For instance, the Asia Pacific Association of Allergy, Asthma, and Clinical Immunology (APAAACI), strives to offer accurate information regarding basic and extensive clinical research about asthma, allergy, and clinical immunology.

The industrial rivalry within the pulmonary drug delivery market is anticipated to be high over the forecast years, owing to major players involved in constant product development and partnership alliances. Additionally, the growing number of dealers and distributors is projected to intensify the competition in the upcoming years. Koninklijke Philips NV, 3M Company, Boehringer Ingelheim GmbH, AstraZeneca PLC, GlaxoSmithKline PLC, etc., are among the distinguished companies in the market.

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