Pulmonary Drug Delivery Devices Market revenue to hit USD 105 Billion by 2035, says Research Nester
Prominent pulmonary drug delivery devices market players include Novartis AG, Lupin Limited, Briggs Healthcare, Inc., Boehringer Ingelheim International GmbH, Koninklijke Philips N.V., Merck & Co., Inc., 3M Company, AstraZeneca PLC, GSK plc, and GF Health Products, Inc.
New York, Jan. 31, 2024 (GLOBE NEWSWIRE) — The global pulmonary drug delivery devices market size is predicted to expand at ~7% CAGR between 2023 and 2035. The market is projected to garner a revenue of USD 105 billion by the end of 2035, up from a revenue of ~USD 53 billion in the year 2022.growth can be attributed to the growing burden of respiratory disorders across the globe that pose a significant health burden leading to a higher demand for inhalation therapy to deliver drugs.
Request Free Sample Copy of this Report @ market in North America region is estimated to garner the largest revenue by the end of 2035. In the United States liquor’s attractiveness has increased as more than 6 drinks are consumed during a binge event by one in four American adults. For instance, in the last few decades, the United States has seen an increase in per capita alcohol consumption, which reached over 2 gallons of ethanol per capita in 2021. Moreover, heavy drinking and long-term alcohol consumption might impair immunity, making individuals more vulnerable to lung infections like pneumonia, acute lung damage, and acute respiratory distress syndrome (ARDS), leading to a higher demand for pulmonary drug delivery devices in the region. Additionally, smoking has long been known to have negative effects on the respiratory system; in the United States, that accounts for more than 470,000 deaths annually. Besides this, cigarette smoking is the cause of over 80% of cases of COPD in the US.
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Growing Release of Vehicle Emissions to Drive the Growth in the Asia Pacific Region
The Asia Pacific pulmonary drug delivery devices market is estimated to garner the largest revenue by the end of 2035. Lately, India ranks fourth globally in terms of greenhouse gas (GHG) emissions, accounting for more than 7% of total emissions including vehicle emissions. For instance, road transportation is a major cause of urban air pollution and currently contributes to over 11% of India’s energy-related CO2 emissions. Exposure to high levels of air pollution from motor vehicles has significant effects on admission rates for a subset of respiratory illnesses, which is expected to create a huge demand for pulmonary drug delivery devices in the region. Additionally, in recent years there has been a sharp expansion in industrialization in India, which has raised air pollution levels, which means that respiratory illnesses will become more common.
Pulmonary Drug Delivery Devices Segmentation by Application
- Asthma
- Cystic Fibrosis
- COPD
- Allergic Rhinitis
- Others
The COPD segment is anticipated to hold the largest revenue by the end of 2035. The growth can be attributed to growing air pollution leading to COPD, particularly in individuals with a high genetic risk and an unfavorable lifestyle. For instance, air pollution contributes up to more than 35% to chronic obstructive pulmonary disease (COPD). Moreover, over 2 million people die from chronic obstructive pulmonary disease (COPD) each year, making it the third most common cause of mortality globally. To enhance respiratory care in patients with COPD the usual method of administering medication is by inhalation which can now be inhaled medications through a range of inhaler devices, including nebulizers, metered-dose inhalers, dry powder inhalers, and other aerosol-based device technologies.
Pulmonary Drug Delivery Devices Segmentation by Product
- Metered Dose Inhalers
- Dry Powder Inhalers
- Nebulizers
- Accessories
The nebulizers segment in pulmonary drug delivery devices market is anticipated to hold the largest revenue by the end of 2035. This is largely due to the growing burden of asthma in children. Currently, more than 4 million American children under the age of eighteen are affected by asthma, and the number is rising rapidly. Millions of children worldwide suffer from asthma as a result of vehicle air pollution which can also make asthma symptoms worse and trigger asthma attacks. For instance, each year, over 3 million new instances of childhood asthma, or around 12% of the worldwide incidence may be related to nitrogen dioxide pollution. Children who are exposed to air pollution are more likely to have poor asthma control which necessitates the use of nebulizers that are used to provide asthma medication by turning liquid medication into a mist that children can easily breathe in. Additionally, jet nebulizers are used to treat lung conditions, and are commonly employed to treat pediatric asthma.
A few of the well-known industry leaders in pulmonary drug delivery devices market that are profiled by Research Nester are Novartis AG, Lupin Limited, Briggs Healthcare, Inc., Boehringer Ingelheim International GmbH, Koninklijke Philips N.V., Merck & Co., Inc., 3M Company, AstraZeneca PLC, GSK plc, GF Health Products, Inc. and other key market players.
Recent Development in the Pulmonary Drug Delivery Devices Market
- Novartis AG announced that the Ministry of Health, Labour, and Welfare (MHLW) approved a new treatment option Tabrecta (capmatinib, formerly INC280), an oral MET inhibitor for patients living with lung cancer as it can treat NSCLC with METex14 mutations.
- Lupin Limited introduced a smart inhaler tracking device, Adhero designed to support the treatment of COPD patients and respiratory diseases and also provide therapy and assistance to people living with chronic respiratory diseases.
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