Developed countries such as Japan, the U.K., and the U.S. are likely to witness considerable rise in elderly population in the near future, which is expected to benefit the nebulizer market
Increase in the number of patients with cystic fibrosis, COPD, and asthma is projected to boost the demand for nebulizers during the forecast period
ALBANY, N.Y., May 5, 2022 /PRNewswire/ — The value of the global nebulizers market was valued at US$ 1 Bn in 2020. The global market is expected to rise at a CAGR of 6.6% during the forecast period, from 2021 to 2028. The global nebulizers market is anticipated to attain the valuation of US$ 1.7 Bn by 2028. Increase in prevalence of respiratory illnesses such as cystic fibrosis, COPD, and asthma is likely to drive the demand for nebulizers around the world. Technological improvements in healthcare products, increase in global number of elderly patients, and profitable position of multinational as well as regional competitors are likely to add to the development of the global nebulizers market.
Changing lifestyles, pollution, and smoking are only a few of reasons leading to the rise in respiratory problems. In order to obtain competitive advantage in the global nebulizers market, firms are likely to speed up product development. On the other hand, loss of drugs during delivery is anticipated to stifle the expansion of the global nebulizers market during the forecast period.
North America is likely to present substantial revenue-generation potential in the global nebulizers market. The high market share of the region can be attributed to the increase in the occurrence of different respiratory ailments such as cystic fibrosis, asthma, and chronic obstructive pulmonary disease (COPD). Technological developments in healthcare and rising acceptance of home healthcare services are two major factors expected to drive the expansion of the regional nebulizers market.
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Key Findings of Market Report
Developments in healthcare regulations and policies in different countries such as the U.K., Japan, the U.S., and China have resulted in higher affordability of different treatment and diagnostic services, thereby increasing people’s life expectancy. As people age, the number of persons diagnosed with COPD and asthma increases. As a result, after 65 years of age, asthma and COPD maintenance becomes increasingly important and difficult. People over the age of 65 suffering from asthma or COPD are still unable to use liquid medications. As a result, nebulizers are the best option, as they turn liquid medicine into a mist or an aerosol.
Based on product category, pneumatic nebulizers held a leading share of the global market in 2020. As it is less expensive than mesh and ultrasonic nebulizers, pneumatic nebulizers are likely to observe considerable demand in the years to come.
Device makers are expected to benefit from the introduction of innovative manufacturing techniques. In the forthcoming years, the global nebulizers market is likely to be driven by technological improvements in respiratory medical equipment. In order to satisfy the demands of the healthcare industry, companies in the global market are likely to diversify and expand their product offerings.
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Global Nebulizers Market: Growth Drivers
In developing nations, chronic obstructive pulmonary disease (COPD) is one of the main causes of mortality. Geriatric patients with COPD and various respiratory problems, such as asthma, are more inclined to use nebulizers rather than liquid medications. This reason is expected to propel the global nebulizers market in the near future.
As the occurrence of bronchitis and asthma rises, developing markets in Asia Pacific is expected to have enormous growth potential. Furthermore, increase in purchasing power, rise in consumer knowledge of health and well-being, and better management of illnesses are expected to propel the Asia Pacific nebulizers market in the near future.
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Global Nebulizers Market: Key Competitors
PARI Respiratory Equipment, Inc.
Allied Healthcare Products, Inc.
GE Healthcare Ltd.
Agilent Technologies, Inc.
Omron Healthcare, Inc.
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Global Nebulizers Market: Segmentation
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Pneumatic Nebulizers Market: The treatment is also quite cost effective. All these factors have been key in driving the demand and thus the development of the global pneumatic nebulizers market. Furthermore, development of the home-based healthcare and easy usability of these devices have also helped in improving their popularity.
Next Generation Nebulizers Market: The global next generation nebulizers market is highly consolidated, with a small number of players holding prominent market share. Development and commercialization of mesh nebulizers and ultrasonic nebulizers is one of the key trends among the leading players operating in the global next generation nebulizers market.
Ultrasonic Nebulizer Market: The market of the ultrasonic nebulizer is a growing market, but this market is also witnessing different types of trends. The changes in the technology of the ultrasonic nebulizer affect the market growth of the ultrasonic nebulizer market. But the increasing patient pool is the major factor behind the growth of this ultrasonic nebulizer market.
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