Published: Aug, 2018
Transparency Market Research (TMR) has published a new report titled, “Pulmonary Drug Delivery Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global pulmonary drug delivery devices market was valued at US$ 35,000 Mn in 2017 and is projected to expand at a CAGR of around 3.0% from 2018 to 2026. The report suggests that increase in prevalence and incidence of respiratory diseases and rise in prescription of combination therapies are anticipated to boost the global pulmonary drug delivery devices market from 2018 to 2026. North America and Europe are expected to dominate the global pulmonary drug delivery devices market in the next few years. This is attributed to well-established health care infrastructure coupled with high demand for superior-quality drugs and devices. Players operating in the global pulmonary drug delivery devices market are entering into distribution agreements in order to strengthen their footprint across the globe. In 2016, Boehringer Ingelheim Pharmaceuticals, Inc. and HealthPrize Technologies launched RespiPoints, a free online program that educates, engages, and rewards people who are treating their COPD with Boehringer’s SPIRIVA RESPIMAT. Additionally, AstraZeneca entered into an agreement with ‘Cilag GmbH International’, an affiliate of Johnson & Johnson, for the divestment of the rights to Rhinocort Aqua (nasal spray indicated for allergic and non-allergic rhinitis) outside the U.S., in October 2016.
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Dry powder inhaler segment to capture considerable market share
The report offers detailed segmentation of the global pulmonary drug delivery devices market. Based on product, the dry powder inhaler segment is likely to account for a prominent share of the market by 2026. Furthermore, the dry powder inhaler segment has been sub-segmented into single dose inhaler sub-segment and multi-dose inhaler sub-segment. The single dose inhaler sub-segment accounted for a higher share of the dry powder inhaler segment, as compared to multi-dose inhaler sub-segment, in 2017. Easy long-term use of devices is likely to propel the single dose inhaler sub-segment in the near future.
The metered-dose inhaler segment followed the dry powder inhaler segment, in terms of market share, in 2017. It was followed by the nebulizers segment. Low price and high requirement of manually-actuated pressurized inhalers for the treatment of asthma are expected to boost the metered-dose inhaler segment during the forecast period.
Cystic fibrosis segment to expand at rapid pace
The asthma segment accounted for a prominent share of the market in 2017, followed by COPD, others, and cystic fibrosis segments. The cystic fibrosis segment is anticipated to expand at a high CAGR during the forecast period. Cystic fibrosis is not a curable disease, and it gets worse with age. Moreover, the diagnostic rate is significantly low. However, expansion of health care infrastructure and diagnostic facilities is expected to propel the segment.
Retail pharmacies segment to hold significant market share
The retail pharmacies segment held a significant share of the market in 2017, followed by hospital pharmacies and e-commerce segments. However, the e-commerce segment is anticipated to expand at a prominent CAGR in the near future, owing to entry of low cost generics and increasing awareness about mail-order pharmacies.
Asia Pacific market to be driven by increasing prevalence of pulmonary diseases and high adoption of generic drugs
In terms of revenue, North America dominated the global pulmonary drug delivery devices market in 2017; however, it is estimated to lose market share in the near future, owing to loss of patents and emerging low cost generics. Followed by North America, Europe held a major share of the market in 2017, which is attributed to the high prevalence of diseases and well-established health care infrastructure that enables proper diagnosis of diseases such as cystic fibrosis and COPD. Asia Pacific followed North America and Europe, in terms of market share, in 2017; however, it is anticipated to expand at a significant CAGR during the forecast period. Unmet medical needs and inadequate health care facilities in rural areas and high percent of low and middle income groups restrain the market in Asia Pacific.
Fragmented market dominated by GlaxoSmithKline plc and Boehringer Ingelheim GmbH
The report also provides profiles of leading players operating in the global pulmonary drug delivery devices market. GlaxoSmithKline plc and Boehringer Ingelheim GmbH are major players operating in the market, offering products with proprietary technologies. Other players include AstraZeneca plc, Koninklijke Philips N.V., 3M Healthcare, Omron Corporation, F. Hoffmann-La Roche Ltd., Novartis AG, Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., MannKind Corporation, Mylan N.V., Sunovion Pharmaceuticals, Inc., PARI GmbH, and Nypro Healthcare Inc. (Jabil Circuit Inc.) These major players have been contributing to the global pulmonary drug delivery devices market through various growth strategies. For example, in January 2016, Novartis AG announced collaboration with Qualcomm Life, Inc. to provide patients with real-time access to data for use of their inhaler in COPD treatment. Qualcomm Life is expected to provide technology solutions for Novartis AG’s leading respiratory treatment. In February 2018, Teva Pharmaceutical introduced QVAR RediHaler inhalation aerosol in the U.S. for treatment of asthma in patients who are 4 years older or above. Additionally, in April 2017, Teva Pharmaceutical launched inhalation powder (AirDuo RespiClick) and its generic product for the treatment of asthma patients (older than 12 years). This new product is technologically advanced and meets the requirements of patients, payers, and providers who seek greater access to low-cost asthma inhalation technology.
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