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The global Pulmonary Drug Delivery Systems Market is estimated to be valued at US$ 34.34 Bn or Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Pulmonary drug delivery systems are used for local or systemic drug delivery via lungs to treat respiratory diseases. It offers advantages like direct delivery to lungs, bypassing gastrointestinal and hepatic metabolism.
Market key trends:
One of the major trends in the pulmonary drug delivery systems market is the development of innovative devices. There have been significant technological advancements focused on developing smart inhalers and other devices that offer improved dosage accuracy as well as usability. For instance, in June 2020, GlaxoSmithKline plc received approval from the US FDA for the first dry powder inhaler (DPI) with smart electronics called Ellipta. It senses inhalation and uses Bluetooth connectivity to record dosage times. The data can be synced to mobile apps and shared with caregivers. Such innovative devices are expected to drive the market growth during the forecast period.
Market key trends:
One of the key trends in the pulmonary drug delivery systems market is the development of smart inhalers. Smart inhalers are integrated with digital sensors to record parameters like dose administration, location, and time which helps patients to better manage their condition. The recorded data from smart inhalers can be transferred to healthcare apps, providers, and caregivers via Bluetooth to ensure timely medical intervention if needed. This technology enables remote monitoring of patients and improves treatment outcomes.
SWOT Analysis
Strength: Emergence of portable handheld inhalers with easy-to-use design and features to improve compliance.
Weakness: High cost of development of advanced inhalers can be prohibitive for certain applications.
Opportunity: Rise in incidence of chronic respiratory diseases creates need for improved drug delivery systems.
Threats: Stringent regulatory processes and delayed approval times can restrict market growth.
Key Takeaways
The global Pulmonary Drug Delivery Systems market is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing prevalence of respiratory diseases.
Regional analysis: North America dominates the market currently due to presence of major players and advanced healthcare infrastructure. However, Asia Pacific is expected to exhibit highest growth during the forecast period owing to rising healthcare spending, growing economy and increasing patient pool in China and India.
Key players operating in the Pulmonary Drug Delivery Systems are 3M Health Care, Allied Healthcare Products, Inc., AstraZeneca, Boehringer Ingelheim International GmbH., CareFusion Corporation, GF Health Products, Inc., GlaxoSmithKline plc, Merck & Co., Inc., Novartis AG, Omron Healthcare, Inc., Glenmark Pharmaceuticals, PARI Respiratory Equipment, Inc., Koninklijke Philips N.V
