May 09, 2018
WELLESLEY, Mass., May 09, 2018–The rising prevalence of respiratory disorders is helping to fuel growth in the pulmonary drug delivery market, according to a report by BCC Research. For reference, pulmonary drug delivery is an alternative to oral drug delivery, having the advantage of consistency, ease of use and cost effectiveness.
The industry is expected to see a compound annual growth rate (CAGR) of 4.3% through 2022, when it could be worth $47.0 billion, according to the report Pulmonary Drug Delivery Systems: Technologies and Global Markets.
Major players in the market include 3M Pharmaceuticals, AstraZeneca, Cipla Ltd., Dr. Reddy’s Laboratories Inc., GlaxoSmithKline, Mylan, Novartis, Omron Corp., Pfizer Inc., Teva Pharmaceutical Industries and Vectura Group.
“The market for pulmonary drug delivery systems is witnessing growth due to the rising prevalence of respiratory disorders such as asthma, COPD and other chronic illnesses,” said Robert G. Hunter, BCC Research senior editor, healthcare. “Other factors driving growth of this market are the emergence of novel inhaler designs and the increased use of non-invasive drug delivery methods.”
Market Challenges Include Compliance Issues
While pulmonary drug delivery has wide applications in the treatment of major lung diseases, there are several issues which are challenging the market. Chief among those are compliance issues. Combination therapy can have negative compliance effects on individuals, with the inconvenience of taking different medications leading to administration schedule non-adherence. Also challenging the market is the need to form drug particles in a suitable size range, as therapeutic efficiency depends on distribution of aerosol into the target receptor.
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Pulmonary Drug Delivery Systems: Technologies and Global Markets( HLC094C )
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