Pulmonary Drug Delivery Devices & Systems Market Size, Share, Growth, and Industry Analysis, By Type (Metered Dose Inhalers, Dry Powder Inhalers, Nebulizers, and Accessories), By Application (Hospitals, Clinics and Homecare), and Regional Forecast to 2028

Updated On: 13 November 2023

Report Overview

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The global pulmonary drug delivery devices & systems market size was USD 2923.3 million in 2022. As per our research, the market is expected to reach USD 3741.8 million in 2028, exhibiting a CAGR of 4.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the pulmonary drug delivery devices & systems market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Pulmonary drug delivery devices and systems refer to medical devices that are designed to deliver medication directly to the lungs through inhalation. These devices can be used to treat a wide range of respiratory diseases, such as asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and pulmonary arterial hypertension.

The market is predicted to be a highly progressive industry during the forecast 2022-2028, as the market is driven by the increasing prevalence of respiratory diseases such as asthma, COPD, and cystic fibrosis, as well as the growing demand for targeted and effective drug delivery systems. Additionally, the market is segmented based on nebulizers, metered-dose inhalers, dry powder inhalers, and soft mist inhalers. The nebulizer segment is expected to hold the largest share of the market due to its ability to deliver medication in a fine mist form, which is ideal for patients who have difficulty using other types of inhalers. 

COVID-19 Impact: Pandemic Upsurge the Demand for Respiratory Therapies and Devices

The COVID-19 pandemic has led to an increased demand for respiratory therapies and devices as the coronavirus primarily affects the respiratory system. This has resulted in a surge in demand for nebulizers and other respiratory devices, although, which has led to supply chain disruptions and shortages in some areas. However, the full extent of the impact will continue to be assessed as the world recovers from the pandemic and healthcare systems return to normal operations and the market is expected to continue to grow in the future.

Latest Trends

"Trend of Smart Inhalers & Portable Nebulizers Expand the Market Scope"

The market for pulmonary drug delivery devices and systems has been evolving over the last few years as the latest innovations taking place in the market. Lately, smart inhalers are in trend. These inhalers are equipped with sensors that can track inhaler usage, remind patients to take their medication, and send data to healthcare providers for better monitoring of patient health. Along with this, portable nebulizers are gaining traction in the market as these devices are small and lightweight, allowing patients to take them on the go and use them anywhere, anytime. This has resulted in greater convenience and improved patient compliance. 

Consequently, these trends and innovations are attributed to an upsurge in the demand for drug delivery devices and systems which will correspondingly aid the pulmonary drug delivery devices & systems market growth over the forecast period. Besides, companies are also introducing new products & medications in the market which are expected to support market growth. For example, in June 2021, in the U.K., Glenmark Pharma launched Tiogiva, a medication for the treatment of chronic obstructive pulmonary disease (COPD).

Segmentation

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• By Type Analysis

According to type, the market can be bifurcated into Metered Dose Inhalers, Dry Powder Inhalers, Nebulizers, and Accessories.

• By Application Analysis

Based on application, the market can be divided into Hospitals, Clinics, and Homecare.

Driving Factors

"Growing Prevalence of Respiratory Diseases Inflate the Demand for these Devices"

One of the major driving factors of the market is the growing prevalence of respiratory diseases. The increasing incidence and prevalence of respiratory diseases across the world such as asthma, COPD, cystic fibrosis, and pulmonary arterial hypertension are fuelling the demand for pulmonary drug delivery devices and systems worldwide which in turn are contributing to the growth of the market as well. 

"Increasing Healthcare Expenditure & Technological Advancements Aid the Market Growth"

Another driving factor of the market is technological advancements. Since, the development of new and innovative drug delivery systems, such as smart inhalers and portable nebulizers are occurring in the market, is driving market growth by providing patients with more convenient and efficient treatment options. Along with this, the growing awareness about the importance of respiratory health and the increasing healthcare expenditure on respiratory diseases are also propelling the market growth.

Restraining Factors

"Stringent Regulatory Requirements Can Impede the Growth of the Market"

There are some restraining factors that can impact the growth of the market such as stringent regulatory requirements. The stringent regulatory requirements for drug delivery devices and systems can result in delays in the approval process which can be a barrier for manufacturers, particularly for smaller companies with limited resources. Therefore, this factor is likely to slow down the growth rate of the market throughout the projection timeframe.

Regional Insights

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"North America Dominates the Market with the Well-Established Healthcare Systems"

According to market research, the leading region in the pulmonary drug delivery devices and systems market is North America. The regions have well-established healthcare systems, high awareness about respiratory diseases, and a supportive regulatory environment, which have contributed to the growth of the market. In addition, in North America, the U.S. is the largest market for pulmonary drug delivery devices and systems, driven by factors such as a high prevalence of respiratory diseases, advanced healthcare infrastructure, and a favourable reimbursement policy in the country.

Key Industry Players

"Prominent Companies Invest Heavily in R&D to Develop Innovative Drug Delivery Devices "

With regard to key players, successful companies in the pulmonary drug delivery devices and systems market stimulate market growth through a variety of strategies. Also, prominent companies invest heavily in research and development to develop new and innovative drug delivery devices and systems that offer greater efficiency, convenience, and ease of use for patients. Apart from this, the major players are also contributing to support the demand and stimulate market growth through their competitive tactics, marketing and branding, and mergers & acquisitions. Moreover, the top five companies hold the majority of the pulmonary drug delivery devices & systems market shares in the global marketplace.

List of Market Players Profiled

• Hovione
• 3M Health Care
• Bespak
• BeyonDevices
• GlaxoSmithKline
• H&T Presspart
• PARI Respiratory Equipment
• Philips Respironics
• SHL

Report Coverage

This report defines the pulmonary drug delivery devices & systems market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.