Pulmonary Drug Delivery Systems Market Expected to Reach $49.7 Billion by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “Global Pulmonary Drug Delivery Systems Market by Product, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030," Global Pulmonary Drug Delivery Systems Market was valued at $49.7 billion in 2020, and is estimated to reach $91.1 billion by 2030, growing at a CAGR of 6.08% from 2021 to 2030.

Pulmonary drug delivery is a targeted drug delivery system which is precisely designed for the inhalation with the help of a device called Aerosol. It plays an important role in managing Asthma and COPD. On the basis of type the market is divided into nebulizer, metered dose inhaler, and dry powder inhaler. PDDS gives quick relief in obstructive pulmonary diseases and can be lifesaving in case of an asthmatic attack.

Increase in air pollution leads to rise in respiratory disorders which fosters the growth of the pulmonary drug delivery systems market. However, the problems related to the formulation stability & high price of aerosol containers limit its usage.

Factors that drive the growth of the global pulmonary drug delivery systems market include rise in the prevalence of pulmonary diseases, advancement in technologies and surge in demand for respiratory care products. Furthermore, the rise in concerns for respiratory health contributes toward the growth of the global market. According to Global Asthma Network, 339 million people are affected by asthma, in 2018.

Moreover, rise in respiratory diseases and advancements in the latest technology are anticipated to drive the growth of the global pulmonary drug delivery systems market. Furthermore, the increase in demand for effective, fast, and accurate treatment results have led to the development of advanced PDDS, thereby propelling the growth of the market.

Moreover, initiatives taken by the governments for pulmonary disease treatment and increase in the number of hospitals are the key factors that boost the growth of the market. Furthermore, development of the healthcare sector and increase in awareness about the respiratory health propel the growth of the market.

The global pulmonary drug delivery systems market is segmented into product, application, and distribution channel. On the basis of product, the market is divided into dry powder inhaler, metered dose inhaler, and nebulizer. The metered dose inhaler segment dominated the market in 2020, and this trend is expected to remain dominant during the forecast period, owing to the development of devices, increase in number of diagnostic centers, and rise in pulmonary diseases

On the basis of application, the market is classified into asthma, and chronic obstructive pulmonary disease. The asthma segment exhibited the highest growth in 2020, and this trend is expected to continue during the forecast period, owing to the rise in air pollution results in an increase in the pulmonary diseases, increase in diagnostic centers, and the government initiatives for treatment of pulmonary diseases

On the basis of distribution channel, the market is classified into retail pharmacies, hospital pharmacies, and e-commerce. The retail pharmacies segment acquired the top position in the market in 2020, and this trend is expected to continue during the forecast period, owing to an increase in number of retail pharmacies, network of pharmacy store, and the ease of purchase from retail pharmacies.

The COVID-19 outbreak is anticipated to have a negative impact on the growth of the global pulmonary drug delivery systems market due to the implementation of lockdown in many countries. The COVID-19 pandemic has stressed the healthcare systems across the globe and has increased the need for the development of diagnostic instruments & treatment centers for people. The non-essential businesses are closed in many states such as university, restaurants, schools, shopping malls, and corporations. Thus, the COVID-19 pandemic is affecting the world, including the production and distribution of pharmaceuticals.

A huge number of clinics, hospitals across the globe, were restructured to increase the hospital capacity for the patients diagnosed with COVID-19, this may also lead to the growth of the hospitalized inhalation drug delivery market in future. The rise in number of hospitals will increase the diagnosis of disease. This has significantly contributed toward the growth of the global market.

Key Findings Of The Study 

• By product, the metered dose segment was the highest contributor to the market in 2020.
• On the basis of application, the asthma segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
• Depending on distribution channel, the retail pharmacies segment was the highest contributor to the market in 2020.
• Region wise, North America garnered the largest revenue share in 2020, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

North America dominated the global pulmonary drug delivery systems market in 2020, and is anticipated to remain dominate during the forecast period. This is attributed to increase  the prevalence of pulmonary diseases, presence of key market players for manufacturing and developing drugs for pulmonary disease, rise in number of hospitals & diagnostic centers, and initiatives taken by government for treatment of pulmonary drug delivery systems market in the region. Asia-Pacific is anticipated to experience lucrative growth, owing to increase in healthcare facilities, advancement in therapy, and government initiatives for treatment of pulmonary diseases.