Respiratory Drug Delivery Formulation Market
Several different respiratory illnesses can be treated using medication formulations designed for inhalation or nasal administration. The ability to target drug delivery directly to the lung for both local and systemic treatment makes the pulmonary route of drug delivery the most effective method currently available for dealing with respiratory disorders. Inhalers and capsules are just two examples of the many methods used to provide drugs through the respiratory system. Oral or nasal administration of the formulations is also possible. There are three main types of respiratory medication delivery formulations: solution aerosols, suspension aerosols, and dry powders. A variety of pharmaceutical medications can be successfully delivered to the lungs using inhalation devices such metered dosage inhalers (MDIs), dry powder inhalers (DPIs), and nebulizers. COPD, asthma, and cystic fibrosis patients can benefit from respiratory medication delivery formulations.
Respiratory drug delivery formulation Market- Competitive Analysis
Manufacturers’ efforts to develop, produce, and market generic as well as brand-name medications have contributed to the market’s expansion. For instance, AstraZeneca said in November 2017 that Fasenra (benralizumab) had been approved by the FDA for the treatment of patients 12 years of age and older who suffered from severe asthma.
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 are all major players in the global respiratory drug delivery formulation market.
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Respiratory Drug Delivery Formulation Market- Dynamics
A rise in the prevalence and incidence of respiratory disorders has resulted in a rise in demand for the respiratory drug delivery formulations, as asthma affects about 334 million people worldwide (Global Asthma Network, 2014). The shortage of respiratory drug delivery formulations is being addressed by pharmaceutical companies by improving the availability of low-cost pharmaceuticals for patients and pharmacists, which is likely to boost market growth. For instance, Teva Pharmaceuticals reported in August 2017 that the U.S. QVAR’s RediHaler inhalation aerosol was granted FDA approval as a preventative treatment for individuals aged 4 and up with asthma. Teva Pharmaceuticals also gained U.S. approval for a new drug in December of 2018. The Food and Drug Administration has given its stamp of approval to the digital inhaler ProAir Digihaler. Patients with reversible obstructive airway disease are the target population for this treatment for bronchospasm.
Furthermore, the increasing incidence of numerous infectious disorders, particularly those that affect the respiratory system, is anticipated to fuel development of the drug delivery formulation market for the respiratory system. According to one study published in the Lancet Global Health Journal, there were an estimated 55,3 million new cases of COPD in India in 2016.
Increasing activities from both governments and NGOs are also contributing to the expansion of the sector. The National Asthma Control Program (NACP) of the Centers for Disease Control and Prevention (CDC) is one such initiative that allocates resources toward patient education. A rise in the use of pulmonary medication delivery systems for the treatment of asthma and chronic obstructive lung disease is anticipated as a result of these public awareness campaigns. Yet strict regulatory requirements, drug patent expiration, and drug stability difficulties are predicted to slow the industry.
Respiratory Drug Delivery Formulation Market- Regional Dynamics
North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa are the regional submarkets of the global respiratory drug delivery formulation market. The strong prevalence and incidence of asthma, constant government initiatives to reduce the cost of treatment, and rise in the geriatric population in the U.S. are all factors that point to a bright future for North America’s share of the global respiratory drug delivery formulation market during the forecast period.
The respiratory medication delivery formulation market in the region is projected to grow due to factors such as the aging population, modern healthcare infrastructure, high disposable income, and shifting lifestyle preferences. The 3M intelligent control inhaler, for instance, was released by 3M drug delivery systems in November 2017. It is a completely integrated device that provides precise dosing for patients.
Respiratory Drug Delivery Formulation Market- Market Taxonomy
Based on formulation type, the market for respiratory drug delivery formulation worldwide is divided into:
- Solution Aerosol
- Suspension Aerosol
- Dry Powder
Based on device type, the market for respiratory drug delivery formulation worldwide is divided into:
- Metered Dose Inhaler
- Dry Powder Inhaler
Based on canister type, the market for respiratory drug delivery formulation worldwide is divided into:
- Plain Canister
- Coated Canister
Based on application, the market for respiratory drug delivery formulation worldwide is divided into:
- Chronic Obstructive Pulmonary Disease (COPD)
- Cystic Fibrosis
Based on end user, the market for respiratory drug delivery formulation worldwide is divided into:
- Hospitals and clinics
Based on region, the market for respiratory drug delivery formulation worldwide is divided into:
- North America
- Middle East
- Latin America
- Asia Pacific
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Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Respiratory Drug Delivery Formulation Market Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Respiratory Drug Delivery Formulation Market Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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