Nebulizer Market Size, Share & Trends Analysis Report By Type, By End Use, By Region And Segment Forecasts, 2020 - 2027

New York, March 05, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Nebulizer Market Size, Share & Trends Analysis Report By Type, By End Use, By Region And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05868794/?utm_source=GNW

The global nebulizer market size is expected to reach USD 1.5 billion by 2027, expanding at a CAGR of 6.6% over the forecast period, according to a new report. Rising incidence rate of chronic respiratory diseases, increasing demand for home healthcare devices, and rising geriatric population worldwide are the major factors leading to market growth.

According to the Population Reference Bureau report, "Aging in the United States”, the geriatric population in U.S. is estimated to increase from 48 million in 2016 to 98 million by 2060. Elderly people are susceptible to respiratory diseases such as COPD and sleep apnea. Therefore, growing geriatric population is expected to expand the patient pool for manufacturers and propel the growth of the market.

On the other hand, drug loss during nebulization is the major factor restraining the market.However, this can also act as an opportunity for the mesh nebulizer manufacturers as the devices are manufactured to deliver accurate drug dosage while reduce drug loss.

Furthermore, increasing commercial acceptance of mesh nebulizers due to accurate delivery of drug to the lung and lower residual volumes also aids in market growth.

Technological advancements such as drug-device combination is further expected to create new opportunity in the market.The key manufacturers are expected to dominate the market of drug device combinations till the generic mesh nebulizer manufacturers invest in the support infrastructure required for the development of new pharmaceuticals.

For instance, in 2016, Sunovion filed the first application for the approval of SUN-101.A mesh nebulizer in combination with a drug for COPD (SUN-101) will be a significant step for boosting the adoption of nebulizers.

Other companies such as Vectura also have products in late stage development, e.g., VR475, indicated for severe asthma, in Phase III trials.

Further key findings from the study suggest:
• The jet segment held over 60.0% market share in 2019 owing to the greater penetration and low cost of the devices
• The mesh segment is expected to be the fastest growing segment with a CAGR of 7.7% over the forecast period, due to various benefits including portability, convenience, homecare application, and accurate dosage delivery
• According to the Population Reference Bureau report, "Aging in the United States”, the geriatric population in U.S. is estimated to increase from 48 million in 2016 to 98 million by 2060
• The demand is expected to increase in homecare application. Easy availability of compact nebulizers that are ideal for home use and technological innovations in the device to reduce the sound created by it and to improve its functionality are increasing its adoption in home healthcare
• North America dominated the nebulizer market in 2019. This high share can be attributed to increase in incidence of respiratory diseases, supportive government policies, favorable reimbursement schemes, rise in awareness, and increasing use of home care products
• As per the analysis of the U.S. and EU clinical trial databases, mesh nebulizers are more preferred for clinical trials sponsored by pharmaceutical companies over jet nebulizers
• Key players include Omron Corporation; Koninklijke Philips N.V.; PARI Pharma; Allied Healthcare Products, Inc.; Becton Dickinson and Company; Agilent Technologies; Medline Industries; Briggs Healthcare; Drive Medical; and GF Health Products, Inc.
Read the full report: https://www.reportlinker.com/p05868794/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________