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Global Respiratory Drug Delivery Technologies market is projected to grow at a CAGR of 7.31% by 2032: Visiongain Reports Ltd

/EIN News/ --

Visiongain has published a new report: Global Respiratory Drug Delivery Technologies Market, (COVID-19 Impact Analysis):- Market Segment by Product (Formulations and Devices), by Type (Dry Powder, Suspension Aerosol, and Solution Aerosol), by Product Type (Metered Dose Inhalers (MDIS), Dry Powder Inhalers (DPIs), Nebulizers and Accessories), by Nebulizers Type (Soft Mist Nebulizers, Jet Nebulizers and Ultrasonic Nebulizers), by Canister Type (Plain Canisters and Coated Canister), by Application (Asthma. COPD, Cystic Fibrosis and Others) and End User (Homecare, Hospitals & Clinics and Others) PLUS COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped) Profiles of Leading Companies, Region and Country.

The global respiratory drug delivery technologies market was valued at US$59.51 billion in 2022 and is projected to grow at a CAGR of 7.31% during the forecast period 2022-2032.

Increasing prevalence and incidence of respiratory diseases
Prevalence and incidence of respiratory diseases are increasing worldwide because of various factors including pollution, unhealthy lifestyle, and tobacco smoking. According to the Global Burden of Diseases Study (2017), there were approximately 3.2 million deaths due to COPD (Chronic Obstructive Pulmonary Disease and 495,000 due to asthma. COPD accounts to be the seventh leading cause of life loss due to premature deaths. There has been a rise in demand and the adoption of respiratory drugs is advancing owing to novel product launches, faster absorption, suitable toxicology framework, and patient adherence. The advanced drugs require advanced delivery systems to make the treatment effective. These factors paved the way for innovative respiratory drug delivery technologies that are less invasive, localized, and have the capabilities to effectively administer the drug in the respiratory system within a shorter time span.

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How has COVID-19 had a significant positive impact on the Respiratory Drug Delivery Technologies Market?

The COVID-19 epidemic has considerably speeded the adoption of novel & portable respiratory drug delivery technologies, with a preference for completely remote home-care settings. Due to the outbreak of COVID-19, the significant demand for respiratory drugs and devices led to a shortfall in supply in many countries. Many patient deaths were reported due to lack of respiratory drugs and devices. The patients were compelled to stay home and arrange resources themselves, thereby boosting the purchase of respiratory drugs and delivery devices such as nebulizers, inhalers, and other portable devices.

How this Report will benefit you?

Visiongain’s 595 page report provides 454 tables and 454 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global respiratory drug delivery technologies market, along with a detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Respiratory Drug Delivery Technologies. Get the financial analysis of the overall market and different segments and, company size. We believe that there are strong opportunities in this fast-growing respiratory drug delivery technologies market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players and, maximise the productivity of the company.

What are the Current Market Drivers?

Outbreak of COVID-19 Pandemic
The uncertainty surrounding coronavirus illness 2019 (COVID-19) prompted anticipatory purchases of respiratory drugs all around the world, boosting demand to an all-time high. Meanwhile, drug companies were shut down to limit the spread of COVID-19, disrupting the drug supply chain and resulting in drug shortages. In response to these prescription drug shortages, pharmacy workers implemented local policy modifications, thorough antimicrobial stewardship, and quantity limitations for in-demand drugs.

For instance, Because of the specific lung tissues affected by the virus, COVID-19 therapy frequently includes the use of bronchodilators. Given that nebulizers promote the formation of aerosolized virus in COVID-19 patients, potentially exacerbating the virus's dissemination, MDI usage is preferable. Inhaler shortages were on rise as a result of increased medical demand for COVID-19 treatment. This shows that since the COVID-19 pandemic, the demand for respiratory drug delivery technologies has increased for the treatment of patients suffering with COVID-19, asthma, bronchitis, and other respiratory diseases.

Growing Support of Government and NGOs for Respiratory Diseases Healthcare Awareness

Growing awareness coupled with government support about respiratory diseases is another major driver that propels the market growth. The increase in the number of respiratory diseases incidence has involved governments around the world taking necessary action to address this condition. A range of programs and initiatives aimed at supporting the treatment and management of asthma, COPD, and other chronic respiratory conditions address chronic respiratory conditions at the national level. Significant funding is also provided to ensure quality clinical research on chronic respiratory conditions is conducted and national monitoring and monitoring measures are maintained. Some of the recent developments in this regard are as mentioned below:

  • In March 2019, the WHO Global TB Program developed a new digital platform for country implementation to store, analyse and visualize national and subnational TB surveillance data. The platform will facilitate programmatic action and timely planning.
  • The Respiratory Health Program (RHP) provides national and international leadership to prevent work-related respiratory diseases and optimize the respiratory health of workers by generating new knowledge and transferring that knowledge to the benefit of workers in practice. The RHP specializes in the identification, evaluation and prevention of respiratory diseases related to the workplace and provides resources, products, and services to those in need and those capable of prevention.
  • The Australian Government has supported the National Asthma Council to develop the National Asthma Strategy 2018 (the Strategy) in partnership with Asthma Australia. The strategy, launched by the Minister of Health Hon Greg Hunt MP on 31 January 2018, draws on best-practice understandings of optimal care and management of asthma and incorporates advice from clinical and academic experts. In line with the National Strategic Framework for Chronic Conditions and the National Aboriginal and Torres Strait Islander Health Plan Implementation Plan 2013-2023, the Strategy outlines a targeted and comprehensive approach to optimizing asthma diagnosis and management.

Where are the Market Opportunities?

Particle Engineering and Metered Dose Inhaler (MDI) Technology to propel the Market Growth 
There has been a lot of interest gathered regarding particle engineering which makes use of nanoparticles and nanocrystals as the primary formulation for respiratory drug delivery. For effective pulmonary drug delivery, both device and formulation are critical. Commercially available particle technology includes Pulmospheres (Novartis), Aerospheres (AstraZeneca), Technospheres (Mannkind Corporation), Arcus (Acroda Therapeutics), and PRINT (Liquidia Corporation). Although dry powder inhalers are gaining a slow hold, pMDI still continues to grab the market share owing to its popularity based on the number of doses and number of units sold. The Autohaler (3M) was the first dose metered inhaler to be actuated by breath or activated by pressure. Autohaler solved the major concern of the pressure metered-dose inhaler (pMDI) and did not rely on the patient's inhalation effort to aerosolize the dry powder inhaler dose. Moreover, electronic inhalers are gradually making their presence in the market to meet the demand for patient adherence and compliance. In January 2020, Aptar Pharma and Lupin Ltd. launched ADHERO, a reusable, bluetooth-enabled smart device that can be attached to the top of an MDI. Also, in December 2020, Kindeva Drug Delivery and Breath of Life International signed an agreement to research the feasibility of numerous inhaled cannabinoid drugs. According to the agreement, Kindeva will develop new formulations of Breath of Life Pharma’s cannabinoid-based drugs delivered by Kindeva’s MDI technology. Thus, such developments in the market are expected to drive market growth.

Competitive Landscape
The major players operating in the respiratory drug delivery technologies market are AptarGroup, Inc., AstraZeneca plc., Boehringer Ingelheim GmbH, Cipla Limited, Graham Field Health Products, GSK Corporation, Medisana GmbH., Merck & Co., Inc., Novartis AG, Omron Corporation, Philips Respironics, Recipharm Ab., Sunovion Pharmaceuticals Inc.  Teva Pharmaceuticals and 3M Healthcare. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launches

Recent Developments

  • Novartis’s Sandoz announced to have acquired respiratory device and drug development company Coalesce in 2022.
  • AstraZeneca and Honeywell signed exclusive partnership agreement to develop new inhalers based on HFO-1234ze technology
  • AstraZeneca has completed the transfer of its global rights to Eklira (aclidinium bromide), known as Tudorza in the US, and Duaklir (aclidinium bromide/formoterol), ( inhaled respiratory medicines)  to Covis Pharma Group (Covis Pharma)

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Visiongain is one of the fastest-growing and most innovative independent market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10 year forecasts, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports means that you can have a bespoke piece of market intelligence customized to your very own business needs.

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