PUBLISHER: The Business Research Company | PRODUCT CODE: 1522305
PUBLISHER: The Business Research Company | PRODUCT CODE: 1522305
Pulmonary drug delivery devices are inhalation devices designed to administer medications directly to the lungs. These devices enable targeted drug delivery for treating respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). Additionally, pulmonary delivery allows for the systemic absorption of drugs such as insulin and pain medications.
The primary types of pulmonary drug delivery devices include dry powder inhalers, metered dose inhalers, and nebulizers. Dry powder inhalers dispense a measured dose of medication in a fine, dry powder form that the patient inhales directly into their lungs. These devices are used for conditions such as asthma, cystic fibrosis, chronic obstructive pulmonary disease, and others. They are distributed through channels such as retail pharmacies, hospital pharmacies, and e-commerce.
The pulmonary drug delivery devices market research report is one of a series of new reports from The Business Research Company that provides pulmonary drug delivery devices market statistics, including the pulmonary drug delivery devices industry global market size, regional shares, competitors with pulmonary drug delivery devices market share, detailed pulmonary drug delivery devices market segments, market trends, and opportunities, and any further data you may need to thrive in the pulmonary drug delivery devices industry. These pulmonary drug delivery devices market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The pulmonary drug delivery devices market size has grown strongly in recent years. It will grow from $46.27 billion in 2023 to $49.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth during the historic period can be attributed to several factors, including the rising prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, and cystic fibrosis, as well as the growing aging population worldwide. Additionally, increased awareness about the importance of respiratory health, expanded healthcare expenditure in emerging economies, and the increasing adoption of homecare settings for respiratory therapy have all contributed to this growth.
The pulmonary drug delivery devices market size is expected to see strong growth in the next few years. It will grow to $65.33 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth during the forecast period can be attributed to the increasing demand for personalized and precision medicine in respiratory care, the expansion of home healthcare services and remote patient monitoring, rising investments in research and development, and a growing focus on preventive healthcare and early intervention strategies. Major trends in the forecast period include technological innovations, a shift towards value-based care models and patient-centric approaches, the integration of telehealth and remote monitoring capabilities into respiratory therapy platforms, the use of wearables and mobile applications for self-management of respiratory conditions, and the adoption of 3D printing and digital manufacturing techniques.
The growing prevalence of respiratory disorders is expected to drive the growth of the pulmonary drug delivery devices market in the future. Respiratory disorders are diseases or conditions that affect the lungs and airways, impairing human respiration. The increasing prevalence of respiratory disorders is due to several factors, such as rising levels of air pollution, increased smoking rates, urbanization, climate change, and an aging population. Pulmonary drug delivery devices play a crucial role in treating respiratory disorders by enabling direct medication delivery to the lungs. For example, in May 2024, the Centers for Disease Control and Prevention (CDC), a US-based national public health agency, reported that the prevalence of current asthma among adults aged 18 and over increased from 8.0% in 2021 to 8.7% in 2022. Thus, the rising prevalence of respiratory disorders is expected to drive the growth of the pulmonary drug delivery devices market.
Major companies in the pulmonary drug delivery devices market are developing innovative products, such as small-volume nebulizers, to better serve customers with advanced features. A small-volume nebulizer (SVN) is a medical device used to deliver liquid medication in the form of an aerosolized mist to patients with respiratory conditions such as asthma, chronic obstructive pulmonary disease (COPD), or cystic fibrosis. For instance, in May 2024, Medline Industries, LP, a US-based healthcare company, launched the Hudson RCI TurboMist small-volume nebulizer. This groundbreaking device is designed to deliver medication treatments quickly, in as little as three minutes. The innovative nebulizer can dispense 2.5 times more medication per minute compared to standard nebulizers, reducing treatment times by about 70%. This increase in medication delivery significantly reduces treatment times, benefiting healthcare providers by optimizing patient throughput and enhancing the patient experience by shortening the duration of therapy sessions.
In August 2022, Sandoz Group AG, a Switzerland-based pharmaceutical company, acquired Coalesce Product Development Limited for an undisclosed amount. Through this acquisition, Sandoz aims to strengthen its portfolio of respiratory medicines and improve patient access to high-quality, complex therapies. Coalesce Product Development Limited is a UK-based company that provides pulmonary drug delivery devices.
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., Dragerwerk 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.
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.
The countries covered in the pulmonary drug delivery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The pulmonary drug delivery devices market consists of sales of jet nebulizers, ultrasonic wave nebulizers, and vibrating mesh nebulizers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Pulmonary Drug Delivery Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pulmonary drug delivery devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pulmonary drug delivery devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The pulmonary drug delivery devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.