Medical Devices Industry Reports Respiratory Drug Delivery Formulation Market Outlo | Page 2

REPORT DESCRIPTION
Respiratory Drug Delivery Formulation Market – Overview
As per the Global Asthma Network, 2014, asthma affects nearly 334 million people worldwide, thus increase in
prevalence and incidence of respiratory diseases has led to increase in demand for the respiratory drug delivery
formulations. Pharmaceutical manufacturers are focused on increasing access to affordable medications to provide
novel options to patients and pharmacists, thereby addressing the limited availability of respiratory drug delivery
formulations, which in turn is expected to augment market growth. For instance, in August, 2017, Teva
Pharmaceuticals announced that the U.S. FDA approved its QVAR RediHaler inhalation aerosol used for the
maintenance treatment of asthma as a prophylactic therapy in patients aged 4 years and older. Furthermore, in
December 2018, Teva Pharmaceuticals received U.S. FDA approval for its ProAir Digihaler device, a digital
inhaler that uses sensors to connect to mobile app. It is indicated for the treatment of bronchospasm in people with
reversible obstructive airway disease.
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.