Vision Research Report, Recently Announced New Report on “pulmonary drug delivery systems market – Global Industry Analysis, Market Size, Share, Growth, Trends, Region Outlook, And Segment Forecasts, 2021 – 2030″.
Global “Pulmonary drug delivery systems market” Report 2021 covering manufacturers, regions, segments, forecast to 2030 is that the recent research report with correct information and extremely authentic info. The report provides insights on market share, market size, rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. The Pulmonary drug delivery systems research report focuses on the competitive surroundings that has section on company profile covering product specifications, geographical coverage, recent developments, revenue analysis, and market shares. what is more, the report offers strategic recommendations so as to help the consumers to align business goals.
The Pulmonary drug delivery systems market revenue share is set to grow at a yearly rate of 14.7 % during 2021-2030, while its valuation is Projected to jump from $ 14.7 Bn in 2020 to $65.1 billion in 2030.
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Report Highlights
Metered Dose Inhalers (MDI) segment held the largest share of 66.7% of the market in 2020. The presence of global key players involved in the development of novel MDIs and the high acceptance rate of these devices in developing regions, such as Asia Pacific and Latin America, are some of the factors responsible for the revenue generated by this segment.
Dry Powder Inhaler (DPI) segment is anticipated to grow at a lucrative rate during the future period. Advantages such as cost-effectiveness, short administration, and preparation time, and others are anticipated to increase the use of these inhalers by end users. Due to technological advancements, DPI emerged as a preferred medical device for the treatment of a diverse range of respiratory disorders, which has in turn increased the utilization of these products. The abovementioned factors are likely to propel the growth of this segment.
are projected to grow at a steady rate over the future period. These devices are the most frequently used inhalation devices in hospitals. Nebulizers have a high adoption rate in home care and emergency medicine due to their benefits, such as greater comfort, administration of large dosage, and favorable reimbursement scenario, which is expected to help maintain a steady demand for this product segment.
The accessories segment is estimated to grow at a CAGR of 5.6% owing to the launch of new products and extensive R&D in this field. These products are necessary for efficient drug delivery to a patient’s lungs. Abovementioned factors are anticipated to support the segment development
The asthma segment held the dominant share in 2020. An effective inhalation therapy that uses DPIs and MDIs is considered to be the basis of asthma management. Owing to the high number of people affected by asthma, the demand, and usage of devices such as MDIs and DPIs for asthma management are increasing, boosting the growth of this application.
The dynamic growth of the COPD segment can be attributed to the high incidence and mortality of this disease. Favorable reimbursement policies for the treatment of COPD and a rise in the number of government and non-government organizations that provide COPD treatment are increasing revenue generated by this segment. Owing to these factors, the COPD segment is expected to grow consistently.
Treatment of allergic rhinitis involves the use of nasal sprays, dry powder inhalers, and allergy shots. According to the National Center for Health Statistics (NCHS), in 2020, 20 million adults aged more than 18 years and 6.1 million children in the U.S. were diagnosed with allergic rhinitis. Due to a large patient pool, the demand for PDDS devices is projected to increase, resulting in the development of this segment.
The other application segment is anticipated to exhibit progress owing to the rise in patients diagnosed with various chronic diseases. According to the CDC, in 2020, 29.4 million adults were diagnosed with sinusitis in the U.S. Treatment of such diseases demands the use of PDDS. These factors are expected to provide this segment growth opportunity.
Hospital pharmacies segment held the dominant share of the PDDS in 2020 and is projected to continue its dominance in the future. Hospitals provide extensive treatments, care, quick reimbursements, and insurance policies owing to which patients prefer hospital pharmacies. Furthermore, an increased number of hospitalizations is expected to boost the growth of this segment.
Retail pharmacies are expected to show steady growth over the future period, owing to easy accessibility and affordability. Hospitals and clinics rely on retail pharmacies as a backup for medications. Moreover, most of the home care products are available in retail pharmacies. These factors are likely to be responsible for the constant growth of this segment.
E-commerce is anticipated to grow at a CAGR of 5.4% during the forecast period. Various factors such as improving healthcare infrastructure in developing regions and convenience of purchasing in comparison to retail or hospital pharmacies have supported the growth of this distribution channel to a great extent.
The trend of online purchasing and the demand for it is growing due to comfort, flexibility, and convenience, which is increasing the revenue generated by this segment. Moreover, online shopping offers discounts that benefit customers. These factors are expected to collectively boost the demand for online pharmacies.
hospitals accounted for the largest revenue share of the PDDS. Hospitals are currently advancing in terms of technology usage. Technologically advanced medical devices are being extensively used in hospitals to improve point-of-care. Furthermore, hospitals also provide a wide array of treatments for various respiratory diseases.
In developed regions such as North America and Europe, hospitals also provide quick reimbursements for COPD treatment under the Medicare program. These facts are expected to stimulate the utilization of PDDS devices in hospital settings, leading to growth.
The home care segment is expected to exhibit lucrative growth over the future period. Growing preference for home healthcare is expected to boost the use of PDDS devices in home care settings. An increase in the cost of health care services and a shortage of healthcare facilities have also led to an increase in demand for home care services.
The introduction of technologically advanced devices, which are portable and small-sized, has resulted in patients using such products at home. These devices are convenient, easy-to-use, and do not require any special training to operate. These associated advantages are expected to increase the adoption of PDDS in home care, thereby boosting the growth of this segment.
North America held the dominant share of PDDS and was valued at USD 14.9 billion in 2020. This growth can be attributed to the rising incidence of diseases such as COPD and asthma. A rise in the number of patients affected by these diseases, increases the demand for diagnostic devices, such as PDDS, thereby boosting the growth of this region.
In addition, the local presence of key pharmaceutical and medical devices players, advanced healthcare infrastructure, aging population, high disposable income, and lifestyle changes are factors contributing to the overall growth of the North America respiratory drug delivery devices market.
Global Pulmonary drug delivery systems market report provides key statistics on the state of the trade and could be a valuable supply of steerage and direction for corporations and people curious about the market. The Pulmonary drug delivery systems trade trends and promoting channels analysed. Pulmonary drug delivery systems Market discovers numerous topics like regional market scope, product market numerous applications, market size consistent with specific product, sales and revenue by region, producing analysis, Industrial Chain, Market result Factors Analysis, market size forecast, and more. Finally, the practicableness of latest investment comes is evaluated and overall analysis conclusions offered.
Key Players
GlaxoSmithKline plc, Philips Respironics, Boehringer Ingelheim GmbH, Novartis AG, 3M Healthcare, GF Health Products, Inc., Merck & Co., Inc., and AstraZeneca.
Market Segmentation
Global Pulmonary drug delivery systems Market: Drivers and Restrains
The analysis report has incorporated the analysis of various factors that augment the market’s growth. It constitutes trends, restraints, and drivers that remodel the market in either a positive or negative manner. This section additionally provides the scope of various segments and applications that may probably influence the market within the future. The elaborated info is predicated on current trends and historic milestones. This section additionally provides an analysis of the amount of production regarding the world market and regarding every kind from 2021-2030.
COVID-19 impact on the Pulmonary drug delivery systems market
COVID-19 is associate communicable disease caused by the novel coronavirus. for the most part unknown before this happening across the world, COVID-19 has captive from a regional crisis to a worldwide pandemic in precisely a matter of a number of weeks. the world Health Organization (WHO) declared COVID-19 as an epidemic on March 11, 2021.
COVID-19 has compact most the industries across the world by disrupting provide chains and impeding numerous industrial operations. COVID-19-responsive measures undertaken by governments, like lockdown and social distancing, led to the closure of producing plants in the initial stage of the pandemic. With only a few industrial operations allowed, the demand for numerous input product within the industrial sector has declined considerably.
Key Highlights Involved in the Market Research Report: –
Pulmonary drug delivery systems Market Study Coverage: It includes key market segments, key makers covered, the scope of product offered within the years thought of, world Pulmonary drug delivery systems Market and study objectives. in addition, it touches the segmentation study provided within the report on the idea of the sort of product and applications.
Pulmonary drug delivery systems Market executive Summary: This section emphasizes the key studies, market rate, competitive landscape, market drivers, trends, and problems additionally to the gross indicators.
Pulmonary drug delivery systems Market Production by Region: The report delivers knowledge associated with import and export, revenue, production, and key players of all regional markets studied area unit coated during this section.
Pulmonary drug delivery systems Market Profile of Manufacturers: Analysis of every market player profiled is elaborated during this section. This section conjointly provides SWOT analysis, products, production, value, capacity, and different very important factors of the individual player.
The report delivers a comprehensive study of all the segments and shares info concerning the leading regions within the market. This report additionally states import/export consumption, offer and demand Figures, cost, business share, policy, price, revenue, and gross margins.
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