RESPIRATORY DRUG DELIVERY FORMULATION MARKET ANALYSIS
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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