Global Pulmonary Drug Delivery Systems Market, By Product Type (Nebulizers, Dry Powder Inhalers (DPIs), Metered Dose Inhalers (MDIs), By Application (Asthma, Chronic Obstructive Pulmonary Disease (COPD), Cystic Fibrosis, Allergic Rhinitis, Others), By Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Increasing inorganic growth strategies such as collaboration by key market players to expand its product portfolio is expected to drive market growth over the forecast period. For instance, in September 2020, Bilim Pharmaceuticals, a Turkish company manufacturing and marketing pharmaceutical drugs, H&T Presspart, a global provider of respiratory drug-delivery devices and components to the pharmaceutical sector, and Hovione Technology, a pharmaceutical specialist in the development of innovative pulmonary device technology, announced collaboration to support Bilim Pharmaceutical’s launch in the Turkish market of Ventofor Combi Fix, a formulation of Budesonide Formoterol for Asthma and COPD management, delivered by the PowdAir Plus Dry Powder Inhaler (DPI).
Global Pulmonary Drug Delivery Systems Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global pulmonary drug delivery systems market, as pulmonary drug delivery systems were used for the treatment of COVID-19 patients. For instance, according to the data provided by the National Library of Medicine in October 2022, Pulmonary drug delivery was the preferred route of administration for treatment of lung diseases especially in asthma and chronic obstructive pulmonary disease (COPD) and COVID-19 respiratory infection. Pulmonary drug delivery provide the chance of lowering dose, reducing adverse effects, and increasing the alveolar concentration. The demand for pulmonary drug delivery systems was increased during COVID-19 pandemic thus COVID-19 pandemic has positive impact on global pulmonary drug delivery systems.
Global Pulmonary Drug Delivery Systems Market: Key Developments
In June 2022, United Therapeutics Corporation, a public benefit corporation, announced that the U.S. Food and Drug Administration (FDA) has approved Tyvaso DPI (treprostinil) inhalation powder for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease to improve exercise ability. Tyvaso DPI is one of the easiest ways for patients to administer a prostacyclin, delivering the proven efficacy of treprostinil through a small inhaler that fits in the palm of the patient’s hand
In May 2022, Lonza, a global manufacturing partner to the pharma, biotech and nutrition industries, announced it will invest in additional inhalation capabilities. The investment will fund the build-out of an additional inhalation testing capacity at the Tampa (US) site specialized in development, clinical, and commercial manufacturing of small molecule-based therapies targeting respiratory diseases and disorders, such as cancer, asthma, and chronic obstructive pulmonary disease (COPD).
Browse 43 Market Data Tables and 39 Figures spread through 233 Pages and in-depth TOC on “Global Pulmonary Drug Delivery Systems Market”, By Product Type (Nebulizers, Dry Powder Inhalers (DPIs), Metered Dose Inhalers (MDIs), By Application (Asthma, Chronic Obstructive Pulmonary Disease (COPD), Cystic Fibrosis, Allergic Rhinitis, Others), By Distribution Channel (Hospitals Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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