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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Respiratory drug delivery formulations are used for treating various respiratory diseases. The pulmonary route of drug delivery is most effective in recent times for treatment of respiratory diseases as it enables to target drug delivery directly to lung both for local and systemic treatment.  There are various types of drug delivery in respiratory system like inhalers, capsules. The formulations can also be delivered by the oral or nasal route. Respiratory drug delivery formulations are categorized as solution aerosol, suspension aerosol and dry powder. Metered dose inhalers (MDIs), dry powder inhalers (DPIs) and nebulizers are used for successful delivery of a wide range of pharmaceutical drugs to the lungs. Respiratory drug delivery formulations are largely used to treat chronic obstructive pulmonary disease, asthma, and cystic fibrosis.

Respiratory Drug Delivery Formulation Market- Dynamics

As per the Global Asthma Network, 2014, asthma affects nearly 334 million people worldwide, thus increase in prevalence and incidence of respiratory diseases has led to increase in demand for the respiratory drug delivery formulations. Pharmaceutical manufacturers are focused on increasing access to affordable medications to provide novel options to patients and pharmacists, thereby addressing the limited availability of respiratory drug delivery formulations, which in turn is expected to augment market growth. For instance, in August, 2017, Teva Pharmaceuticals announced that the U.S. FDA approved its QVAR RediHaler inhalation aerosol used for the maintenance treatment of asthma as a prophylactic therapy in patients aged 4 years and older. Furthermore, in December 2018, Teva Pharmaceuticals received U.S. FDA approval for its ProAir Digihaler device, a digital inhaler that uses sensors to connect to mobile app. It is indicated for the treatment of bronchospasm in people with reversible obstructive airway disease.

Moreover, rising prevalence of various infectious diseases, including respiratory tract infections, is expected to drive growth of the respiratory drug delivery formulation market in the near future. For instance, according to a study published in the Lancet Global Health Journal, in 2016, an estimated 55.3 million cases of chronic obstructive pulmonary disease were observed in India.

Moreover, rising number of initiatives taken by government and non-government organizations is boosting the market growth. For instance, Center of Disease Control and Prevention (CDC’s) National Asthma Control Program (NACP) provides funds to educate the asthma affected patients. Such initiatives are led to spread awareness related to asthma, which, in turn, is expected to increase adoption of pulmonary drug delivery devices for treating asthma and chronic obstructive pulmonary diseases. However, stringent regulatory guidelines, patent expiration of drugs, and issues related to stability of drugs are expected to restrain growth of the market.

Respiratory Drug Delivery Formulation Market- Regional Dynamics

Regional segmentation of the global respiratory drug delivery formulation market includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the global respiratory drug delivery formulation market over the forecast period, owing to strong incidence and prevalence of asthma, continuous government initiatives to reduce the cost of treatment, and increase in the geriatric population in U.S.

Furthermore, local presence of key pharmaceutical players, aging population, advanced healthcare infrastructure, high disposable income, and lifestyle changes are expected to boost the respiratory drug delivery formulation market in the region. For instance, in November 2017, 3M drug delivery systems introduced 3M intelligent control inhaler, which is a fully integrated device that delivers accurate dosages to patients.

Respiratory drug delivery formulation Market- Competitive Analysis

Manufacturers are focused on development, manufacturing, and marketing of multisource and branded pharmaceuticals, thereby augmenting the market growth. For instance, in November 2017, AstraZeneca announced that the U.S. Food and Drug Administration (FDA) approved Fasenra (benralizumab) for the treatment of patients with severe asthma, aged 12 years and older.

Key players operating in the global respiratory drug delivery formulation market include Teva Pharmaceutical Industries Ltd., GlaxoSmithKline, 3M, AstraZeneca plc, Merck and Co., Inc., Omron Corporation, Novartis AG, Boehringer Ingelheim GmbH, Sunovion Pharmaceuticals Inc., Hovione, Catalent Pharma Solutions, and Aphios Corporation. 

Respiratory Drug Delivery Formulation Market- Market Taxonomy

On the basis of formulation type, the global respiratory drug delivery formulation market is segmented into:

  • Solution Aerosol
  • Suspension Aerosol
  • Dry Powder

On the basis of device type, the global respiratory drug delivery formulation market is segmented into:

  • Metered Dose Inhaler
  • Dry Powder Inhaler
  • Nebulizers

On the basis of canister type, the global respiratory drug delivery formulation market is segmented into:

  • Plain Canister
  • Coated Canister

 On the basis of application, the global respiratory drug delivery formulation market is segmented into:

  • Chronic Obstructive Pulmonary Disease (COPD)
  • Asthma
  • Cystic Fibrosis
  • Others

On the basis of end user, the global respiratory drug delivery formulation market is segmented into:

  • Hospitals and clinics
  • Homecare

On the basis of region, the global respiratory drug delivery formulation market is segmented into:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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