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Escalating Prevalence Of Respiratory Disorders Is Driving Factors Behind The Growth Of The Pulmonary Drug Delivery Devices Market Emerges as a Core Driver of the Pulmonary Drug Delivery Devices Market in 2025
Pulmonary Drug Delivery Devices
What Is the Expected CAGR for the Pulmonary Drug Delivery Devices Market Through 2025?
The market for pulmonary drug delivery devices has seen a substantial increase in size in the past few years. It is projected to grow from a value of $49.52 billion in 2024 to $53.21 billion just a year later in 2025, marking a compound annual growth rate (CAGR) of 7.4%. Factors contributing to this trend during the historic period include a surge in the occurrence of respiratory diseases such as COPD, asthma, and cystic fibrosis, a growing global ageing population, rising awareness about respiratory health, healthcare expenditure growth in emerging economies, and a rise in the usage of homecare settings for respiratory treatments.
What's the Projected Size of the Global Pulmonary Drug Delivery Devices Market by 2029?
In the coming years, the market size for pulmonary drug delivery devices is expected to experience substantial growth. It is predicted to reach a valuation of $69.91 billion by 2029, with a compound annual growth rate of 7.1%. The escalating demand for precise and personalized medicine in respiratory care, the expansion of remote patient monitoring and home healthcare services, increased research and development investments, and a growing emphasis on early intervention strategies and preventive healthcare, are all contributing factors to the growth projected for the forecast period. Looking to the future, expect to see trends such as technological innovation, a shift to patient-focused and value-based care models, the integration of remote monitoring and telehealth into respiratory therapy platforms, the use of mobile apps and wearables for managing respiratory conditions, and the implementation of 3D printing and digital manufacturing techniques.
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Top Growth Drivers in the Pulmonary Drug Delivery Devices Industry: What's Accelerating the Market?
An increase in the number of respiratory ailments is predicted to boost the pulmonary drug delivery devices market. These ailments are diseases or conditions that affect the functioning of human lungs and air passages, impacting our ability to breathe. Factors like rising air pollution levels, increasing rate of smoking, urbanization, climate transformation, and an aging population contribute to a surge in these ailments. Pulmonary drug delivery devices, which help in directly delivering medication to our lungs, play a crucial role in treating respiratory ailments. For example, the Centers for Disease Control and Prevention (CDC), an American public health institute, reported in May 2024 that the prevalence of asthma in adults aged 18 and over increased from 8.0% in 2021 to 8.7% in 2022. Hence, the increasing frequency of respiratory ailments is anticipated to spur the pulmonary drug delivery devices market growth.
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What Trends Will Shape the Pulmonary Drug Delivery Devices Market Through 2029 and Beyond?
Top-tier corporations operating in the market for pulmonary drug delivery devices are creating novel products such as compact nebulizers, as a way to provide customers with enhanced features. Compact nebulizers, also known as SVNs (Small-Volume Nebulizers), are medical instruments utilized to deliver liquid medications in the form of aerosolized mist to individuals suffering from respiratory ailments like asthma, chronic obstructive pulmonary disease (COPD), or cystic fibrosis. For example, in May 2024, the health care firm from the US, Medline Industries LP, introduced the Hudson RCI TurboMist small-volume nebulizer to the market. This path-breaking device is engineered to dispense medication treatments in a swift manner, possibly within three minutes. This avant-garde nebulizer can distribute 2.5 times more medication per minute as compared to conventional nebulizers, cutting down the therapeutic times by roughly 70%. This surge in medication distribution drastically trims therapeutic times, which in turn proves advantageous for health care providers by maximizing patient flow and improving the patient experience by reducing the length of therapy sessions.
What Are the Main Segments in the Pulmonary Drug Delivery Devices Market?
The pulmonary drug delivery devices market covered in this report is segmented -
1) By Product Type: Dry Powder Inhalers, Metered Dose Inhalers, Nebulizers
2) By Application: Asthma, Cystic Fibrosis, Chronic Obstructive Pulmonary Disease, Other Applications
3) By Distribution Channel: Retail Pharmacies, Hospital Pharmacies, E-Commerce
Subsegments:
1) By Dry Powder Inhalers (DPIs): Single-Dose DPIs, Multi-Dose DPIs
2) By Metered Dose Inhalers (MDIs): CFC-Based MDIs, HFA-Based MDIs
3) By Nebulizers: Jet Nebulizers, Ultrasonic Nebulizers, Mesh Nebulizers
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Which Top Companies are Driving Growth in the Pulmonary Drug Delivery Devices Market?
Major companies operating in the pulmonary drug delivery devices market are Medtronic plc, Air Liquide S.A., Becton Dickinson and Company, Koninklijke Philips N.V., Medline Industries Inc., ResMed Inc., Drägerwerk AG And Co. KGaA, Smiths Group plc, AptarGroup Inc., Chiesi Farmaceutici S.p.A., Teleflex Incorporated, Masimo Corporation, Fisher And Paykel Healthcare Limited, Invacare Corporation, Vyaire Medical Inc., Inogen Inc., Drive DeVilbiss Healthcare Inc., Hovione, Hamilton Medical AG, GaleMed Corporation, Allied Healthcare Products Inc., Precision Medical Inc., Salter Labs Inc., Nidek Medical Products Inc.
Which Regions Will Dominate the Pulmonary Drug Delivery Devices Market Through 2029?
North America was the largest region in the pulmonary drug delivery devices market in 2023. The regions covered in the pulmonary drug delivery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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