COPD Drug Delivery Devices Market: Introduction
- According to the report, the global COPD drug delivery devices market was valued at ~US$ 8 Bn in 2018 and is projected to expand at a CAGR of ~4% from 2019 to 2027
- COPD treatment can be carried out using two main devices: inhaler and nebulizer
- Several treatment options are available with inhalers for patients suffering from COPD, including short-acting and long-acting beta2-agonists (SABA/LABA), short-acting and long-acting antimuscarinics (SAMA/LAMA), combination therapy, and triple therapy
- Growth of the COPD drug delivery devices market can be attributed to increase in COPD patients across the globe
- North America dominated the global COPD drug delivery devices market in 2018 and the trend is anticipated to continue during the forecast period. Increase in adoption of combination therapy in inhalers, availability of all major companies in the region, and introduction of new drugs in the near future are anticipated to drive the market in North America.
- Asia Pacific is expected to be a highly lucrative market for COPD drug delivery devices, expanding at a higher CAGR than other regions during the forecast period
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Rise in Prevalence of COPD and Awareness about COPD Treatment to Drive Market
- Increase in prevalence of COPD across the world is a major cause that can be attributed to the growth of the global COPD drug delivery devices Rise in COPD has been observed due to increase in prevalence of smokers as well as aging population in several countries.
- The Global Burden of Disease Study reports a prevalence of 251 million cases of COPD globally in 2016
- In 2015, 3.2 million people died from COPD globally, an increase of ~12% compared with 1990. During that same time period, the prevalence of COPD increased by ~44% to 174.5 million individuals. As per the American Lung Association (ALA), nearly 24 million American adults were living with COPD in 2018.
- COPD is one of the common lifelong chronic diseases. However, currently, people are increasingly becoming aware about COPD and its treatment. This, in turn, is propelling the COPD drug delivery devices
- November is considered as the National Chronic Obstructive Pulmonary Disease Awareness Month by the US COPD Coalition to enhance exposure around chronic obstructive pulmonary disease (COPD)
Use of Inhalers to Increase for COPD Drug Delivery
- Based on product, the global COPD drug delivery devices market has been divided into inhaler and nebulizer. Inhaler is further sub-segmented into metered dose inhaler, dry powder inhaler, and soft mist inhaler. Nebulizer is sub-segmented into jet nebulizer, mesh nebulizer, and ultrasonic nebulizer.
- The inhaler segment dominated the global COPD drug delivery devices market in 2018 and the trend is likely to continue during the forecast period, owing to continuous innovation in long-term therapy such as combination therapy through metered dose inhaler to prevent symptoms.
Rise in Adoption of Digital Devices
- In terms of type, the global COPD drug delivery devices market has been bifurcated into manual device and digital device
- The manual device segment dominated the global COPD drug delivery devices market. However, digital device is expected to grow at a rapid pace during the forecast period.
- Growth of the digital device segment can be attributed to continuous advancements in the smart technology as well as rise in adoption of digital devices in the healthcare sector for better results
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Retail Pharmacies a Major Distribution Channel
- Based on distribution channel, the global COPD drug delivery devices market has been segmented into retail pharmacies, hospital pharmacies, and online pharmacies
- The retail pharmacies segment dominated the global COPD drug delivery devices market in terms of revenue in 2018 and the trend is projected to continue during the forecast period. Increase in the number of COPD drug delivery devices being dispensed through retail pharmacies and rise in number of retail pharmacies in developing countries make these pharmacies a major channel of distribution.
North America to Dominate Global Market
- In terms of region, the global COPD drug delivery devices market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global COPD drug delivery devices market in 2018, followed by Europe.
- North America accounted for a major share of the global COPD drug delivery devices market in 2018, owing to the introduction of new drugs such as combination therapy, increase in use of these drugs, and high prevalence in countries such as the U.S.
- The COPD drug delivery devices market in Asia Pacific is likely to expand at a higher CAGR than other regions from 2019 to 2027. Significant growth of the COPD drug delivery devices market in the region can be attributed to high prevalence of COPD and increase in demand for its therapeutics.
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COPD Drug Delivery Devices Market: Competition Landscape
- AstraZeneca plc., Boehringer Ingelheim International GmbH, and GlaxoSmithKline plc are the leading players in the global COPD drug delivery devices market that hold majority of the market share
- The global COPD drug delivery devices market is fragmented in terms of the number of players. Key players in the global market include Novartis AG, Teva Pharmaceutical Industries, Merck & Co., Inc., Cipla Inc., Sunovion Pharmaceuticals, Inc, Koninklijke Philips N.V., PARI GmbH, and Omron Corporation.
- New product development through robust R&D activities and mergers & acquisitions are the key strategies adopted by these players to operate their business in the global COPD drug delivery devices market
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