The global pulmonary drug delivery system market is estimated to grow at a healthy CAGR over the forecast period (from 2018 to 2022), according to a report available on Radiant Insights, Inc. Rising cases of respiratory disorders, such as asthma and Chronic Obstructive Pulmonary Disease (COPD) caused due to smoking, are anticipated to propel demand for pulmonary drug delivery systems. High prevalence of chronic respiratory disorders owing to increasing air pollution is also anticipated to boost the market growth in the forthcoming years.
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On the other hand, issues related to stability and patent expiration of well-known drugs is expected to hinder the market growth in the coming years. Moreover, stringent regulatory policies regarding the usage of certain drugs can also obstruct market development. However, growing number of casualties in patients suffering from various respiratory disorders due to the lack of treatment and health awareness may have a positive impact on the market demand. In addition, continuous technological developments in drug delivery systems are expected to spur growth of the market in the next few years.
Furthermore, favorable initiative programs from various government and non-government regulatory bodies to promote health awareness would also boost the market expansion during the next few years. On the basis of geographies, the global pulmonary drug delivery system market is divided into Europe, Asia Pacific, and North America. In 2016, North America dominated the global market and accounted for the maximum market share. Rising demand for advanced diagnostic devices as a result of increasing incidences of respiratory diseases in the region is expected to fuel the market growth over the next few years. In addition, presence of major pharmaceutical companies and sophisticated healthcare infrastructure can further boost the market growth in this region.
In Asia Pacific region, the pulmonary drug delivery system market is anticipated to witness substantial demand during the forecast period. This growth is attributed to the rising number of patients suffering from COPD and other respiratory diseases. In addition, increasing cases of allergic rhinitis and asthma demanding Patient Determined Disease Steps (PDDS) can also augment the market development in the region. Presence of various non-government organizations, such as Asia Pacific Association of Allergy, Asthma and Clinical Immunology (APAAACI), spreading awareness regarding the availability of advanced systems would also fuel region’s growth.
Some of the prominent companies operating in the global pulmonary drug delivery system market are Sunovion Pharmaceuticals Inc.; Boehringer Ingelheim; Merck & Co.; Allied Healthcare Products, Inc.; and Philips Respironics, Inc. Most companies invest in the R&D activities to develop innovative systems in order to cater to rising demand for advanced pulmonary drug delivery systems.
For instance, a team of expert scientists and bioengineers at Los Alamos National Laboratory recently invented an artificial, tissue-engineered lung, Pulmonary Lung Model (PulMO), which can effectively improve pulmonary drug delivery. The new miniature PulMO is a laptop-sized device that mimics the responses of human lungs to drugs, toxins, and several other agents. The design of this artificial lung accommodates a wide array of cells types and tissues. According to the developers, this innovation will also help experienced researchers to try several conditions by twisting the variables such as tissues and cells.
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