Global pulmonary drug delivery systems market is expected to witness lucrative market growth over the forecast period including increasing incidences of chronic diseases such as tuberculosis and diabetes mellitus. Technological innovations include particle engineering and supercritical fluid technology which are anticipated to upsurge market growth. These innovations lead to benefits, such as minimizing unwanted toxicities and increased bioavailability of drugs, which further boost the demand of pulmonary drug delivery systems market. Moreover, other benefits pertaining to pulmonary drug delivery systems include minimum dosage administration, and targeted therapy are anticipated to propel the market growth over the next seven years.
The global pulmonary drug delivery systems market is divided on the basis of application and product. On the basis of product, it is segregated into nebulizers, metered dose inhalers and dry powder inhalers. On the basis of application, it is segmented into chronic obstructive pulmonary disease (COPD), cystic fibrosis, and asthma. As of 2014, nebulizers, followed by metered dose inhalers, held the largest share of pulmonary drug delivery systems market owing to direct application of drugs in treatment of chronic respiratory diseases, asthma & COPD. Dry powder inhalers segment is anticipated to be the fastest growing segment as a consequence of novel formulating techniques and incorporation of computational fluid dynamics to capitalize demand for this segment over the forecast period.
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As of 2014, North America held a substantial share as consequence of growth factors such as rising prevalence of chronic pulmonary disorders, increasing geriatric patient base, and sophisticated healthcare infrastructure. Asia Pacific region is anticipated to be the fastest growing owing to factors, such as improving healthcare infrastructure, rising patient awareness, and competition owing to new market entrants, which are anticipated to facilitate growth platform to the pulmonary drug delivery systems market in this region over the forecast period.
Major players of pulmonary drug delivery systems market include Novartis AG, CareFusion Corporation, Boehringer Ingelheim, Sunovion Pharmaceuticals Inc., PARI Respiratory Equipment, Inc., Merck & Co., 3M Health Care, Omron Healthcare, Inc., GlaxoSmithKline, Philips Respironics, Inc., Allied Healthcare Products, Inc. and GF Health Products Inc. These companies focus on geographic targets, development of innovative products, and collaborations for expansion of their market share. Moreover, these companies also focus on high quality and better patient care. Need for more efficient alternatives and rising competition among new market players is expected to provide growth potential to the pulmonary drug delivery systems market over the forecast period.
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