Asia Pacific Pulmonary Drug Delivery Market Forecast 2019-2028
The Asia Pacific pulmonary drug delivery market is estimated to grow with a CAGR of 6.50%, over the forecast period of 2019 to 2028. The rising levels of pollutions leading to respiratory conditions, potential growth opportunities within the medical devices division, and supportive government initiatives are projected to drive the region’s market growth.
The Asia Pacific pulmonary drug delivery market growth is evaluated across Japan, Indonesia, China, Vietnam, South Korea, India, Australia & New Zealand, Thailand, and the rest of the Asia Pacific. According to the estimates issued by the World Health Organization (WHO), India fosters at least 15 million patients with asthma. Moreover, the rising levels of pollution in the country have caused an alarming increase in the prevalence of respiratory conditions.
On the other hand, in recent years, India’s healthcare industry has increased by nearly 10%, owing to factors such as growing life expectancy, changing demographics, and surging public awareness. Supportive government initiatives like the Asia Pacific – Asthma Insights and Management (AP-AIM) study, are also accredited to the market’s growth. The initiative strives to understand the availability of a diverse range of affordable and effective drugs, in addition to reliable diagnostic tools across India. Likewise, the country’s ’Make in India’ initiative is a proactive platform for manufacturers to explore the expansion opportunities within the medical devices industry. Thus, these factors are predicted to accelerate the demand for pulmonary drug delivery solutions, and drive the market growth in the region.
Distinguished enterprises operating in the market include, Clement Clarke International, Aerogen, Agilent Technologies Inc, Novartis AG, Teva Pharmaceuticals Industries Limited, etc.
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