Pulmonary Drug Delivery Systems Market Trends

Growth Drivers

• Rising Prevalence of Chronic Respiratory Diseases as Air Pollution is Increasing - For instance, in 2019 chronic respiratory diseases accounted for more than 260,400 deaths in men and nearly 250,700 deaths in women in the United States. Chronic respiratory diseases such as obstructive pulmonary disease (COPD) and asthma are commonly treated with pulmonary devices that deliver medication to the respiratory tract, such as inhalers. These medications are used to prevent exacerbations of chronic conditions and to treat them. Thus, the rising prevalence of respiratory diseases is anticipated to propel the demand for pulmonary drug delivery devices during the forecast period.
• Increase in the Number of Hospitals and Diagnostic Centers with Growing Awareness of People about Early Diagnosis - In the year 2021-22, Foreign Direct Investment (FDI) fund infusion into hospitals and diagnostic centers in India increased by 37% to USD 690 million.
• Continuous Rise in COVID – 19 Cases Worldwide that Affected the Lungs of the People - For instance, the United States averaged nearly 30,000 new cases of COVID-19 every day in April 2022, 2% more than in previous weeks.
• Increasing Air Pollutants Owing to Rising Industrialization and Urbanization - World Health Organization (WHO) statistics show that in 2018, 9 out of 10 people worldwide inhaled polluted air. There are about 7 million deaths each year from chronic obstructive pulmonary diseases caused by exposure to fine particles in polluted air across the globe.
• Rise in Exports of Medical Appliances with Increasing Improvement and Advancements in Healthcare Sector - According to the statistics by the International Trade Center (Trademap), the global value of exports of medical appliances in the year 2021 was recorded to be USD 14,170,931 thousand, which was an increase from USD 12,754,842 thousand in the previous year.

Challenges

• Presence of Alternative Drug Delivery Systems
• Strict Government Regulations of Product Approval
• Side Effects Related to Long Term Use of the Product- The change in humidity, airway geometry, mucociliary clearance, and alveolar macrophages are playing a major role in alterations of the devices and are the barriers to the effective functioning of the medications. The active principle of thermosensitive inhaled drugs can change owing to the temperature of the surrounding climate. Hence, it can restrain the pulmonary drug delivery systems market growth.