Respiratory drug delivery formulations are used for treating various respiratory diseases. The pulmonary route of drug delivery is most effective in recent times for treatment of respiratory diseases as it enables to target drug delivery directly to lung both for local and systemic treatment. There are various types of drug delivery in respiratory system like inhalers, capsules. The formulations can also be delivered by the oral or nasal route. Respiratory drug delivery formulations are categorized as solution aerosol, suspension aerosol and dry powder. Metered dose inhalers (MDIs), dry powder inhalers (DPIs) and nebulizers are used for successful delivery of a wide range of pharmaceutical drugs to the lungs. Respiratory drug delivery formulations are largely used to treat chronic obstructive pulmonary disease, asthma, and cystic fibrosis.
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Respiratory drug delivery formulation Market- Competitive Analysis
Manufacturers are focused on development, manufacturing, and marketing of multisource and branded pharmaceuticals, thereby augmenting the market growth. For instance, in November 2017, AstraZeneca announced that the U.S. Food and Drug Administration (FDA) approved Fasenra (benralizumab) for the treatment of patients with severe asthma, aged 12 and older.
Key players operating in the global respiratory drug delivery formulation market are Teva Pharmaceutical Industries Ltd., GlaxoSmithKline, 3M, AstraZeneca plc, Merck and Co., Inc., Omron Corporation, Novartis AG, Boehringer Ingelheim GmbH, Sunovion Pharmaceuticals Inc., Hovione, Catalent Pharma Solutions, and Aphios Corporation.
Respiratory Drug Delivery Formulation Market- Dynamics
As per the Global Asthma Network, 2014, asthma affects nearly 334 million people worldwide. Therefore, increase in prevalence and incidence of respiratory diseases has led to growing demand for respiratory drug delivery formulations. Pharmaceutical manufacturers are focused on increasing access to affordable medications to provide novel options to patients and pharmacists, thereby addressing the limited availability of respiratory drug delivery formulations, which is expected to augment the market growth. For instance, in August, 2017, Teva Pharmaceuticals announced that the U.S. FDA approved its QVAR RediHaler inhalation aerosol used for the maintenance treatment of asthma as a prophylactic therapy in patients aged 4 years and older. Furthermore, in December 2018, Teva Pharmaceuticals received U.S. FDA approval for its ProAir Digihaler device, a digital inhaler that uses sensors to connect to a mobile app. It is indicated for the treatment of bronchospasm in people with reversible obstructive airway disease.
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Moreover, rising prevalence of various infectious diseases, including respiratory tract infections, is expected to drive growth of the respiratory drug delivery formulation market in the near future. For instance, according to a study published in the Lancet Global Health Journal, in 2016, an estimated 55.3 million cases of chronic obstructive pulmonary disease were observed in India.
Moreover, rising number of initiatives taken by government and non-government organizations is boosting the market growth. For instance, the Centers for Disease Control and Prevention’s National Asthma Control Program (NACP) provides funds to educate asthma affected patients. Such initiatives have led to widespread awareness related to asthma which is expected to increase adoption of pulmonary drug delivery devices for treating asthma and chronic obstructive pulmonary diseases. However, stringent regulatory guidelines, patent expiration of drugs, and issues related to stability of drugs are expected to restrain growth of the market.
Respiratory Drug Delivery Formulation Market- Regional Dynamics
Based on Region, the global respiratory drug delivery formulation market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the market over the forecast period owing to strong incidence and prevalence of asthma, continuous government initiatives to reduce the cost of treatment, and increasing geriatric population in the U.S.
Furthermore, presence of key pharmaceutical players, aging population, advanced healthcare infrastructure, high disposable income, and changing lifestyle are expected to boost growth of the respiratory drug delivery formulation market in North America. For instance, in November 2017, 3M Drug Delivery Systems introduced the 3M Intelligent Control Inhaler, which is a fully integrated device that delivers accurate dosages to patients.
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Respiratory Drug Delivery Formulation Market- Market Taxonomy
On the basis of formulation type, the global respiratory drug delivery formulation market is segmented into:
- Solution Aerosol
- Suspension Aerosol
- Dry Powder
On the basis of device type, the global respiratory drug delivery formulation market is segmented into:
- Metered Dose Inhaler
- Dry Powder Inhaler
- Nebulizers
On the basis of canister type, the global respiratory drug delivery formulation market is segmented into:
- Plain Canister
- Coated Canister
On the basis of application, the global respiratory drug delivery formulation market is segmented into:
- Chronic Obstructive Pulmonary Disease (COPD)
- Asthma
- Cystic Fibrosis
- Others
On the basis of end-user, the global respiratory drug delivery formulation market is segmented into:
- Hospitals and clinics
- Homecare
On the basis of region, the global respiratory drug delivery formulation market is segmented into:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
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