According to Precedence Research, the global pulmonary drug delivery systems market was valued at US$ 51 billion in 2022 and is expected to reach over US$ 87.53 billion by 2032, growing at a noteworthy CAGR of 5.60% from 2023 to 2032.
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The U.S. pulmonary drug delivery systems market accounted for US$ 9.49 billion in 2022 and is predicted to grow around US$ 16.43 billion by 2032, growing at a CAGR of 5.70% from 2023 to 2032.
North America held the major market share in 2022. The increased prevalence of the pulmonary diseases in US have resulted in an increased demand for the pulmonary drug delivery systems. According to the American Lung Association, around 16.4 million people in US were diagnosed with some type of COPD such as emphysema, chronic bronchitis, and COPD. As per the Asthma and Allergy Foundation of America, around 25 million people were suffering from asthma in 2018 in US. Therefore, the increased prevalence of pulmonary diseases coupled with the increased awareness regarding the management of chronic conditions and high healthcare expenditure are the major factors that resulted in the growth of North America pulmonary drug delivery systems market.
Asia Pacific is poised to grow at the highest CAGR during the forecast period. The rapid industrialization and urbanization in the region is resulting in increasing pollution levels. The increased pollution in the air is a major cause of the pulmonary diseases. Moreover, higher mortality rates in this region due to the pulmonary diseases is expected to drive the demand for the pulmonary drug delivery systems. According to the WHO, around 80% of the death due to COPD occurs in the low and middle income countries. Therefore, the demand for the pulmonary drug delivery systems is projected to grow rapidly in Asia Pacific.
Pulmonary drug delivery system is a targeted drug delivery in which a part of the drug is directed towards the targeted site or the respiratory tract. Simply, the pulmonary drug delivery systems is a device used for administration of drugs through the pulmonary route for the treatment of various respiratory diseases. The rising prevalence of respiratory diseases such as chronic obstructive pulmonary disease, asthma, and cystic fibrosis is the primary reason behind the burgeoning demand for the pulmonary drug delivery systems across the globe. According to the World Health Organization, COPD caused around 3.23 million deaths in 2019 and it was the third leading cause of death across the globe. Moreover, around 262 million people across the globe were affected with asthma in 2019, and it caused 461,000 deaths in the same year. Asthma is commonly prevailed among the children population. The rising pollution levels, extended exposure to harmful gases, exposure to tobacco smoke, fumes, and chemicals are some of the major reasons behind the increasing prevalence of respiratory diseases. As per the World Health Organization, around 90% of the people breathe pollutant air and around 7 million people die every year due to indoor and outdoor pollution. Therefore, the alarming rise in the number of pulmonary diseases and deaths associated with it is expected to spur the demand for the pulmonary drug delivery systems all over the globe.
The surging awareness regarding the pulmonary diseases and the availability of various pulmonary drug delivery devices is supporting the market growth. The easy availability of pulmonary drug delivery devices in the retail pharmacies and the e-pharmacies is expected to have a positive impact on the market. Moreover, the increased research & development activities has encouraged the development of innovative drug delivery systems and the new product launches by the market players is poised to have a significant effect on the demand for the pulmonary drug delivery systems across the globe. For instance, in October 2018, Philips launched a potable mesh nebulizer named InnoSpire Go. It is a portable, hand-held, and small-sized, and light-weight nebulizer that can administer drugs in just few minutes. Therefore, the presence of top manufacturers and their innovative product offerings are playing a significant role in the market growth.
| Report Highlights | Details |
| Market Size | US$ 87.53 Billion by 2032 |
| Growth Rate | CAGR of 5.60% from 2023 to 2032 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Product, Indication, Distribution Channel, Region |
| Companies Mentioned | Philips Respironics, GlaxoSmithKline PLC, BoehringerIngelheim GmbH, TevaPharmaceutical Industries Ltd., 3M Healthcare, PARI GmbH, F. Hoffmann-La Roche AG, Gilbert Technologies, AstraZeneca PLC, Omron Healthcare, Inc. |
Metered dose inhalers segment garnered a market share of around 66% in 2022 and dominated the global pulmonary drug delivery systems market. The key market players and their innovative metered dose inhalers have gained traction among the consumers and resulted in the dominance of this segment across the globe. The higher product acceptance among the consumers coupled with the increasing rise in the prevalence of pulmonary diseases has fostered the growth of the metered dose inhalers segment.
On the other hand, the nebulizers is expected to be the fastest-growing segment during the forecast period. Nebulizers offers various benefits such as favorable reimbursements, comfort, and easy administration of large doses, which makes it suitable for emergency and at-home use. Hence, this segment is expected to gain rapid traction in the foreseeable future.
Asthma was the leading segment based on the indication, in 2020. Asthma is a major non-communicable disease that affects both children and adults, as per the WHO. Rapid urbanization and changing lifestyle is a major reason behind the rising prevalence of asthma. The rising awareness regarding the management of asthma and easy availability of the pulmonary drug delivery systems has fueled the growth of this segment over the past years.
The allergic rhinitis is expected to grow at a moderate rate during the forecast period. The surging uses of dry powder inhalers, nasal sprays, and allergy shots for the treatment of allergic rhinitis is boosting the revenues of this segment. Furthermore, the rising prevalence of allergic rhinitis among the population is boosting the growth of this segment.
Depending upon the distribution channel, the hospital pharmacy segment dominated the global pulmonary drug delivery systems market in 2022. Hospitals provide quick treatments, east reimbursements, and extensive care, which has contributed towards the dominance of this segment. Moreover, wider availability of the pulmonary drug delivery devices in the hospital pharmacy makes it a popular choice among the patients.
E-commerce is estimated to be the most opportunistic segment during the forecast period. The rising penetration of internet, increasing adoption of smart devices, growing penetration of the online pharmacies across the globe, and quick home delivery services provided by them are the major factors that are expected to drive the growth of this segment in the forthcoming years.
Key Market Developments
The key market players are constantly engaged in various developmental strategies such as product launches, collaborations, and partnerships in order to establish their supremacy in the market and gain competitive edge over others. These developmental strategies are expected to provide new growth prospects in the forthcoming future and will foster the growth of the global pulmonary drug delivery systems market.
Segments Covered in the Report
By Product
By Indication
By Distribution Channel
By Geography
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