Market Size – The pulmonary drug delivery devices market size has grown strongly in recent years. It will grow from $46.27 billion in 2023 to $49.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to the increasing prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, and cystic fibrosis, the growing aging population worldwide, rising awareness about the importance of respiratory health, expansion of healthcare expenditure in emerging economies, and increasing adoption of homecare settings for respiratory therapy.
The pulmonary drug delivery devices market size is expected to see strong growth in the next few years. It will grow to $65.33 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to the growing demand for personalized and precision medicine in respiratory care, expansion of home healthcare services and remote patient monitoring, rising investments in research and development, and increasing focus on preventive healthcare and early intervention strategies. Major trends in the forecast period include technological innovations, the shift towards value-based care models and patient-centric approaches, the integration of telehealth and remote monitoring capabilities into respiratory therapy platforms, the utilization of wearables and mobile applications for self-management of respiratory conditions, and the adoption of 3D printing and digital manufacturing techniques.
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Scope Of Pulmonary Drug Delivery Devices MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Pulmonary Drug Delivery Devices Market Overview
Market Drivers –The escalating prevalence of respiratory disorders is expected to propel the growth of the pulmonary drug delivery devices market going forward. Respiratory disorders refer to diseases or conditions that affect the lungs and airways, impacting human respiration. There is an increasing prevalence of respiratory disorders due to several factors such as rising levels of air pollution, increased smoking rates, urbanization, climate change, and the aging population. Pulmonary drug delivery devices play an important role in the treatment of respiratory disorders by allowing direct delivery of medications to the lungs. For instance, in May 2024, according to the Centers for Disease Control And Prevention (CDC), a US-based national public health agency, the prevalence of current asthma among adults aged 18 and over, increased from 8.0 % in 2021 to 8.7% in 2022. Therefore, the escalating prevalence of respiratory disorders is expected to propel the growth of the pulmonary drug delivery devices market.
Market Trends – Major companies operating in the pulmonary drug delivery devices market are developing innovative products, such as small-volume nebulizers, to better serve customers with advanced features. A small-volume nebulizer (SVN) is a medical device used to deliver liquid medication in the form of aerosolized mist to patients with respiratory conditions such as asthma, chronic obstructive pulmonary disease (COPD), or cystic fibrosis. For instance, in May 2024, Medline Industries, LP, a US-based healthcare company, launched the Hudson RCI TurboMist small-volume nebulizer. This groundbreaking device is designed to deliver medication treatments quickly, in as little as three minutes. The innovative nebulizer can dispense 2.5 times more medication per minute compared to standard nebulizers, reducing treatment times by about 70%. This increase in medication delivery significantly reduces treatment times, benefiting healthcare providers by optimizing patient throughput and enhancing the patient experience by shortening the duration of therapy sessions.
The pulmonary drug delivery devices market covered in this report is segmented –
1) By Product Type: Dry Powder Inhalers, Metered Dose Inhalers, Nebulizers
2) By Application: Asthma, Cystic Fibrosis, Chronic Obstructive Pulmonary Disease, Other Applications
3) By Distribution Channel: Retail Pharmacies, Hospital Pharmacies, E-Commerce
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Regional Insights – North America was the largest region in the pulmonary drug delivery devices market in 2023. The regions covered in the pulmonary drug delivery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies – Major companies operating in the pulmonary drug delivery devices market are Medtronic plc, Air Liquide S.A., Becton Dickinson and Company, Koninklijke Philips N.V., Medline Industries Inc., ResMed Inc., Drägerwerk AG And Co. KGaA, Smiths Group plc, AptarGroup Inc., Chiesi Farmaceutici S.p.A., Teleflex Incorporated, Masimo Corporation, Fisher And Paykel Healthcare Limited, Invacare Corporation, Vyaire Medical Inc., Inogen Inc., Drive DeVilbiss Healthcare Inc., Hovione, Hamilton Medical AG, GaleMed Corporation, Allied Healthcare Products Inc., Precision Medical Inc., Salter Labs Inc., Nidek Medical Products Inc.
Table of Contents 1. Executive Summary2. Pulmonary Drug Delivery Devices Market Report Structure3. Pulmonary Drug Delivery Devices Market Trends And Strategies4. Pulmonary Drug Delivery Devices Market – Macro Economic Scenario5. Pulmonary Drug Delivery Devices Market Size And Growth…..27. Pulmonary Drug Delivery Devices Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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