PULMONARY DRUG DELIVERY SYSTEMS MARKET ANALYSIS

Pulmonary Drug Delivery Systems MarketSize and Trends

The global pulmonary drug delivery systems market is estimated to be valued at US$ 34.34 billion in 2023 and is expected to exhibit a CAGR of 4.6% during the forecast period (2023-2030).

Global Pulmonary Drug Delivery Systems Market– Driver

Increasing prevalance of chronic disorder

Increasing changes in lifestyles is considered a major cause of various chronic disorders, such as diabetes, functional gastrointestinal disorder, eczema, arthritis, asthma, cancer, chronic obstructive pulmonary disease, and others. Thus, the increasing prevalence of chronic disorders globally is expected to boost the growth of the market over the forecast period. For instance, according to the data published by September 2022, the Forum of International Respiratory Societies (FIRS), Global Impact of Respiratory Disease report, an estimated 200 million people has COPD, of which about 3.2 million die each year, making it the third-leading cause of death worldwide, moreover, more than 2.2 million new cases of lung cancer in 2020 and 1.80 million deaths, globally, lung cancer is responsible for 1 in 4 cancer death.

Increasing products launches by the market players

Increasing number of product launches by the market players due to numerous advantages associated with the pulmonary drug delivery systems is expected to foster the market growth over the forecast period. For instance, in July 2020, Teva Pharmaceutical Industries Ltd., a pharmaceutical company, announced that it has launched a bluetooth-enabled version of its ProAir albuterol sulfate rescue inhaler. The ProAir Digihaler’s sensors connect to a companion mobile app to provide inhaler-use information to healthcare providers. The new inhaler was available by prescription to U.S. patients age 4 and older.

Global Pulmonary Drug Delivery Systems Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global pulmonary drug delivery systems market over the forecast period. This is attributed to the increasing product launch by market players. For instance, in October 2022, Aptar Digital Health, part of Aptar Pharma, a global leader in drug delivery and active material science solutions and services, announced a strategic partnership with the Chiesi Group, the international research-focused biopharmaceutical and healthcare group, to bring to market a disease management platform for asthma and chronic obstructive pulmonary disease (COPD)

Global Pulmonary Drug Delivery Systems Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

The COVID-19 pandemic had a positive impact on the global pulmonary drug delivery systems market, owing to increasing use of metered dose inhaler (pMDI) for patients around the world suffering from chronic respiratory diseases such as asthma, COPD, Cystic Fibrosis and other respiratory conditions caused by COVID-19. Thus market players focused on product launch. For instance, in February 2022, Aptar Pharma, a global leader in drug delivery systems, services and active material science solutions, announced the launch of HeroTracker Sense, a novel digital respiratory health solution that transforms a standard metered dose inhaler (pMDI) into a smart connected healthcare device. HeroTracker Sense is a next generation metered-dose inhaler (MDI) add-on connected device, designed to address patient inhalation technique and adherence.