Respiratory Drug Delivery Formulation Market- Regional Dynamics

Regional segmentation of the global Respiratory Drug Delivery Formulation Market includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the global respiratory drug delivery formulation market over the forecast period, owing to strong incidence and prevalence of asthma, continuous government initiatives to reduce the cost of treatment, and increase in the geriatric population in U.S.

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- Dynamics

As per the Global Asthma Network, 2014, asthma affects nearly 334 million people worldwide, thus increase in prevalence and incidence of respiratory diseases has led to increase in demand for the 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 in turn is expected to augment 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 mobile app. It is indicated for the treatment of bronchospasm in people with reversible obstructive airway disease.

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, Center of Disease Control and Prevention (CDC’s) National Asthma Control Program (NACP) provides funds to educate the asthma affected patients. Such initiatives are led to spread awareness related to asthma, which, in turn, 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.

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Furthermore, local presence of key pharmaceutical players, aging population, advanced healthcare infrastructure, high disposable income, and lifestyle changes are expected to boost the respiratory drug delivery formulation market in the region. For instance, in November 2017, 3M drug delivery systems introduced 3M intelligent control inhaler, which is a fully integrated device that delivers accurate dosages to patients.

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 years and older.

Key players operating in the global respiratory drug delivery formulation market include 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.

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