Asthma Device Market to See a Major Financial Boost in the Forecast Duration Of 2017 To 2023

The global asthma devices market has been evaluated as a steadily growing market and expected that the market will reach high growth figures. Respiratory inhalers and nebulizers are the devices that are used to control respiratory conditions by directly inhaling the drug into the respiratory tract. Over the past 50 years, inhaler devices have revolutionized respiratory care by delivering the medicines directly into the lungs and avoiding the adverse effects caused by the other modes of medication.

The global asthma devices market is likely to grow at a 4.3% CAGR between 2017- 2023, according to the recent Market Research Future (MRFR) report. Asthma inhalers, simply put, are medical devices that deliver medication to the body through the lungs, thus treating chronic obstructive pulmonary disease and asthma.

Various factors are adding to the global asthma devices market share. These factors, as per the new MRFR report, include rapid industrialization & urbanization, rising cases of asthma, increasing healthcare expenditure, growing awareness, increasing expenditure on research and development activities, economic development, increasing disposable income, and technological advances. Industrialization and urbanization have increased air pollution due to which the majority of the people are having respiratory problems.

On the contrary, lack of favorable reimbursement policies, low per capita income, & long treatment procedures are factors that may limit the asthma devices market growth over the forecast period.