Rapid Digitalization, Rise in Awareness Regarding COPD Treatments to Drive COPD Drug Delivery Devices Market, Says TMR

Surge in cases of COPD across the globe and awareness about the advantages of the COPD treatment to offer lucrative opportunities in the COPD drug delivery devices market

Trend of digital drug delivery systems to invite considerable investments in the COPD drug delivery devices market

News provided by

Transparency Market Research

Aug 17, 2021, 08:30 ET

ALBANY, N.Y., Aug. 17, 2021 /PRNewswire/ -- The emergence of inhaled medication as one of the effective treatments for a wide range of respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD) will serve as a significant growth factor for the COPD drug delivery devices market during the forecast period of 2019-2027. The growing focus on product innovation in the COPD drug delivery devices market will also prove to be a prominent growth factor for the market.

COPD drug delivery devices are designed for taking the medicines through the inhalation process. Inhaled medication therapy is used for treating various diseases. The effectiveness of the inhaled medication therapy is high in COPD. Thus, these aspects help in boosting the growth prospects of the COPD drug delivery devices market.

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Transparency Market Research (TMR) has analyzed numerous aspects associated with the growth structure of the COPD drug delivery devices market. The TMR experts project the global market for COPD drug delivery devices to expand at a CAGR of 3.8% during the forecast period. The global COPD drug delivery devices market is expected to reach US$ 11 Bn by 2027.

The prevalence of COPD is increasing at a rapid rate around the world, due to the increase in the number of smokers and aging population. According to the statistics of the American Lung Association (ALA), approximately 24 million U.S. adults were living with COPD in 2018. These statistics highlight the rising prevalence of COPD. This aspect is likely to propel the global market.New product launches by the players in the COPD drug delivery devices market will also prove to be a game-changer for the market. Furthermore, quick approvals from regulatory authorities such as the Food and Drug Administration (FDA) will assure exponential growth.

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Key Findings of Report

Initiatives, Campaigns Promoting Awareness about Treatment of COPD to Accelerate Market Growth

Many initiatives and campaigns are being conducted by government and non-government organizations to spread awareness about the importance of the COPD treatment. Initiatives such as dedicating a month for COPD awareness indirectly influence the global market. For instance, the U.S. COPD Coalition considers November as the National Chronic Obstructive Pulmonary Disease Awareness Month.

Digitalization of COPD Drug Delivery Devices to Drive Global Market

One of the prominent trends that will decide the growth trajectory of the COPD drug delivery devices market is digitization. The drug delivery segment is currently experiencing an avant-garde movement in terms of digital enhancements. The players in the COPD drug delivery devices market are concentrating on developing digital inhalers that assure accurate drug delivery. Stakeholders are striving to make products more patient-centric to ensure growth in revenue. These factors will have a profound impact on the growth of the COPD drug delivery devices market.

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COPD Drug Delivery Devices Market: Growth Drivers

Emergence of smart inhalers for the administration of COPD drugs will ensure significant growth prospects for the COPD drug delivery devices market
Expanding investment avenues in product innovation and development will support the growth structure of the COPD drug delivery devices market

Some well-established players in the COPD drug delivery devices market are Teva Pharmaceutical Industries, Boehringer Ingelheim GmbH, Omron Corporation, GlaxoSmithKline plc, Merck & Co., Inc., and Novartis AG.

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Global COPD Drug Delivery Devices Market – Segmentation

By Product

Inhalers
Nebulizers

By Type

Manual Devices
Digital Devices

By Distribution Channel

Retail Pharmacies
Hospital Pharmacies
Online Pharmacies

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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