The global market revenue of pulmonary drug delivery systems is expected to increase at a compound annual growth rate (CAGR) of 8.9 percent over the period 2014-2019.
According to a new report by Research and Markets, an increase in the prevalence and incidence of respiratory diseases such as asthma and COPD (chronic obstructive pulmonary disease) is one of the major drivers of the market. This is expected to increase the patient population requiring pulmonary drug delivery. Any drug that can cater to these needs is expected to enhance the growth of the market during the forecast period, the research firm said.
Pulmonary delivery of drugs can be achieved by oral inhalative administration or by intranasal administration. It leads to the active ingredients being deposited in the lungs and subsequent local or systemic therapeutic activity.
This is a common route of administration for a range of drugs because of the large surface area for absorption, high blood circulation and high permeability rate. Pulmonary drug delivery offers various advantages over oral administration, such as bypass of hepatic first-pass metabolism, quick onset of action and low enzymatic activity.
The effective delivery of drugs via the pulmonary route requires an optimized combination of drug, its formulation and device, Research and Markets pointed out.
Looking ahead, an increase in online marketing services is expected to increase awareness regarding pulmonary drug products and boost sales of these devices.
Challenges faced by market players include intense competition in many markets and the availability of generic drugs.
The key vendors include AstraZeneca, Boehringer Ingelheim, GlaxoSmithKline, Novartis and Philips Healthcare.