July 21, 2024

The Transition to digitalization to boost the growth of the Pulmonary Drug Delivery Systems Market.

The global Pulmonary Drug Delivery Systems Market is estimated to be valued at US$ 34.34 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Pulmonary drug delivery systems deliver the drug through various routes like nasal or oral route directly to lungs in the form of liquid droplets, powder or gas. They provide localized drug delivery to lungs and require lower doses as compared to oral and intravenous administration routes. The drugs delivered through pulmonary route have fast onset of action and better pharmacokinetics. These drug delivery systems are widely used for treatment of respiratory diseases like asthma and COPD.

Market key trends:

One of the key trends in the pulmonary drug delivery systems market is the transition to digitalized respiratory devices. Manufacturers are developing inhalers integrated with digital sensors and applications. These digital inhalers can record usage data, provide feedbacks and reminders to patients for correct usage. Some devices are also integrated with Bluetooth to allow connectivity with smartphones. This transition is expected to improve patient adherence and outcome. Another trend is the development of smart nebulizers which can monitor medication intake and send alerts. With increasing cases of respiratory diseases, demand for effective and personalized treatment is rising which is fueling innovations in digitalized pulmonary drug delivery devices.

Porter’s Analysis

Threat of new entrants: Low capital requirements and established brands lower barriers to entry in the pulmonary drug delivery systems market. However, stringent regulations and quality standards for approval present a challenge for new entrants.

Bargaining power of buyers: The presence of several well-established global players increases bargaining power of large buyers. There exist no alternative access channels other than pharmaceutical companies for end customers.

Bargaining power of suppliers: Suppliers have moderate to high bargaining power due to high production costs for active pharmaceutical ingredients (APIs) and devices. Suppliers can significantly influence price of raw materials.

Threat of new substitutes: There exist limited substitutes currently. However, intensive R&D may lead to development of alternative drug delivery mechanisms with improved efficacy in future.

Competitive rivalry: The market features intense competition amongst major global players. Companies compete based on product innovation, brand recognition and geographic expansion.

Key Takeaways

The global Pulmonary Drug Delivery Systems Market is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing prevalence of respiratory diseases and growing geriatric population.

Regional analysis:

North America currently dominates the pulmonary drug delivery systems market, owing to high healthcare expenditure and presence of major players. However, Asia Pacific is poised to exhibit highest growth rate during the forecast period due to growing patient population and increasing healthcare spending in countries such as China and India.

Key players operating in the Pulmonary Drug Delivery Systems are 3M Health Care, Allied Healthcare Products, Inc., AstraZeneca, Boehringer Ingelheim International GmbH., CareFusion Corporation, GF Health Products, Inc., GlaxoSmithKline plc, Merck & Co., Inc., Novartis AG, Omron Healthcare, Inc., Glenmark Pharmaceuticals, PARI Respiratory Equipment, Inc., Koninklijke Philips N.V. Key players are focusing on new product launches and growth strategies such as acquisitions and partnerships to strengthen their market presence.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it