Dublin, Aug. 12, 2021 (GLOBE NEWSWIRE) -- The "Global Nebulizer System Market, By Product Type (Jet Nebulizer System, Mesh Nebulizer System, Ultrasonic Nebulizer System), By Accessories (Main Apparatus v/s Others), By Sales channel, By End Use, By Region, Competition Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Nebulizer System Market stood at USD1755.59 million in 2020 and is anticipated to grow at a steady rate of 6.16% in the forecast period, 2022-2026.
This can be ascribed to the growing prevalence of chronic respiratory diseases including COPD, Cystic Fibrosis, Lung Cancer, Asthma, among others.
Additionally, growing shift towards home healthcare, telemedicine and telehealth services is further expected to create lucrative opportunities for the market growth during the forecast period.
Furthermore, growing geriatric population worldwide is also a major factor driving the growth of the Global Nebulizer System Market. Besides, technological advancements and new product launches by various players operating in the nebulizer system market are expected to foster the market growth through 2026.
The Global Nebulizer System Market can be segmented based on product type, accessories, sales channel, end-user, region, and company. Based on sales channel, the market can be split into offline and online. The online segment is expected to witness significant growth during the forecast period owing to the emergence of several e-commerce platforms and channels selling medical devices online.
Additionally, benefits such as availability of large number of buying options from different brands, door-step delivery, competitive pricing, among others associated with online sales channel are further expected to support the segmental growth over the next few years.
Also, the outbreak of the COVID-19 pandemic and imposition of strict lockdowns across countries to curtail the virus spread has further increased the customer shift towards online sales channels. Based on end-user, the market is segmented into hospitals & clinics, emergency centers, and homecare. The hospitals & clinics segment dominated the market in 2020 with a share of around 43.56% owing to favorable reimbursement policies and larger patient footfall.
However, homecare segment is expected to witness the highest growth during the forecast period owing to the growing preference and shift towards homecare, remote patient monitoring and telemedicine. Also, the sudden outbreak and spread of COVID-19 has increased the preference for homecare among the population across the globe.
Regionally, North America dominated the Global Nebulizer System Market in 2020 and is expected to dominate the market over the next few years owing to the growing prevalence of respiratory diseases among the population. In 2020, the United States reported 2,27,875 new lung cancer cases. Also, chronic respiratory diseases are the fourth largest cause of deaths in the United States. In 2020, around 38.4 deaths were reported per 100,000 population.
Major companies operating in the Global Nebulizer System Market include Koninklijke Philips N.V., Omron Corporation, Henry Schein, Inc., Teleflex Inc., Vectura Group plc, among others.
Key growth strategies being adopted by leading players include new product launches and mergers & collaborations. For instance, in October 2018, Koninklijke Philips N.V. announced the launch of InnoSpire Go, the smallest and lightest portable handheld nebulizer.
This nebulizer is based on vibrating mesh technology and is capable of delivering medication to patients suffering from various chronic respiratory diseases such as Asthma, COPD, among others with four minutes, thereby providing effective and faster drug delivery.
Report Scope:
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
Global Nebulizer System Market, By Product Type:
- Jet Nebulizer System
- Mesh Nebulizer System
- Ultrasonic Nebulizer System
Global Nebulizer System Market, By Accessories:
- Main Device
- Others
Global Nebulizer System Market, By Sales Channel:
- Offline
- Online
Global Nebulizer System Market, By End-Use:
- Hospitals & Clinics
- Ambulatory & Emergency Centres
- Homecare
Global Nebulizer System Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Nebulizer System Market.
- Rossmax International Ltd.
- Koninklijke Philips N.V.
- DeVillbiss Healthcare LLC
- Omron Corporation
- Pari GmbH
- Allied Healthcare Products, Inc.
- Invacare Corporation
- Vectura Group plc
- Henry Schein, Inc.
- Teleflex Inc.
For more information about this report visit https://www.researchandmarkets.com/r/jh3296
