The global respiratory medication delivery market is expected to grow at a CAGR of 6.5 percent to USD 52.37 billion by 2021, up from USD 36.10 billion in 2016. Increased preference for pulmonary mode of medication delivery, increased technical innovations in the form of smart/digital inhalers, and rising rates of respiratory disorders such as COPD, asthma, and cystic fibrosis are all driving growth in this market.
The device type and formulation type segments of the respiratory medication delivery market are further subdivided. Metered dose inhalers, dry powder inhalers, and nebulizers are the three modalities of respiratory medicine delivery. Due to the benefits associated with the usage of these inhalers, such as short administration & preparation time, convenience of use, and fewer irritating effects, the dry powder inhalers segment is predicted to develop at the fastest rate over the forecast period.
The market is divided into asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and other applications based on applications (cardiovascular disease, diabetes, respiratory therapy, and treatment of patients on ventilators). Because of the rising prevalence of asthma around the world, the asthma category will account for the largest share of the market during the forecast period.
The market for pulmonary medication delivery devices is now dominated by North America, with Asia coming in second. Furthermore, due to the rapidly growing geriatric population, growing adoption of an unhealthy lifestyle, growing urbanisation, exposure to smoke and chemicals, and the resulting increase in the prevalence of COPD in the region, the Asian market is expected to grow at the fastest rate during the forecast period.
Latin America, the Pacific, and the Middle East and Africa market sizes and growth rates are estimated.
The global respiratory medication delivery market is expected to grow at a CAGR of 6.5 percent to USD 52.37 billion by 2021, up from USD 36.10 billion in 2016. Increased preference for the pulmonary route as an additional method of drug delivery, increased focus on the development of smart/digital inhalers, and rising incidence of respiratory disorders such as COPD, asthma, and cystic fibrosis are all contributing to market expansion.
Formulations, canister type, applications, end users, and regions are all used to segment the respiratory medication delivery market. The device type and formulation type segments of the formulation section are further subdivided.
Metered dose inhalers, dry powder inhalers, and nebulizers are the three device types that make up the respiratory drug delivery market. In 2016, the metered dosage inhalers sector is predicted to have the biggest market share by type of delivery by device. Factors such as efficient drug absorption through the lungs and negligible adverse effects (since pharmaceuticals are solely exposed to the lungs) are driving this segment's growth.
Suspension aerosol, solution aerosol, and dry powder formulations are the three types of formulations in the respiratory medication delivery sector. Due to enhanced dosage precision, reduced dosage variability, and improved medication particle flow, the dry powder formulation segment is predicted to grow the most during the projection period.
The respiratory medicine delivery market is divided into plain canisters and coated canisters based on canister type. In 2016, simple canisters are predicted to have the highest share of the pulmonary medication delivery devices market. The rising incidence of COPD and increased use of inhalers are driving the demand for these canisters.
The respiratory drug delivery market is divided into hospitals & clinics and home care settings based on the end user. Due to technical improvements such as digital inhalers in pulmonary drug delivery devices that enable their use in home care settings, the home care settings segment is predicted to grow at the highest CAGR of the market in 2016.
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