The inhalation drug delivery market is expected to grow at a CAGR of 3.58% by the end of 2024. Inhalation drug delivery is referred to the transfer of drug into the human body through the lungs or it is also known as the pulmonary route of administration. These are available in either liquid or in powdered form. The market is poised to grow during the forecast period owing to the prevalence of asthma and COPD (Chronic Obstructive Pulmonary Disease). Furthermore, the growing geriatric population and growing health expenditure are emanating the market growth during the forecast period. Technological advancements will provide an opportunity for the growth of the global inhalation drug delivery market in the forecast period and beyond.
Prevalence of Chronic Obstructive Pulmonary Disease, COPD.
Growing Geriatric Population.
Increasing health expenditure worldwide.
Stringent regulations regarding approval of medical devices.
On April 12, 2017, Respira Therapeutics, Inc. entered into a strategic collaboration with the United Therapeutics Corporation for the development and exclusive license of Respira’s inhaled drug-device product, RT234™ for pulmonary hypertension in the North American region.
On March 8, 2017, Breath Therapeutics BV, company developing advanced drug-aerosol therapeutics for pulmonary orphan indications announced the closing of a US$46 million series A financing. The company has planned to conduct phase 3 trials in Europe and the United States followed by the submission for market approval, and further commercialization.
The major players profiled in the inhalation drug delivery market include GlaxoSmithKline group of companies, Merck & Co., Inc., AstraZeneca, Boehringer Ingelheim International GmbH, Gerresheimer AG, Medisol Lifescience Pvt. Ltd, Cipla Limited, and H&T Presspart Manufacturing Ltd.
The inhalation drug delivery market has been analyzed through the following segments:
Dry powder inhaler
Metered dose inhaler
Middle East and Africa