Pune, Sept. 14, 2020 (GLOBE NEWSWIRE) -- Global Nebulizer market size is projected to reach USD 1,778.8 million by 2027, exhibiting a CAGR of 8.1% during the forecast period. Increasing prevalence of respiratory disorders around the world will be the prime growth propeller for this market.
The World Health Organization (WHO) states that respiratory diseases are the foremost cause of death and disability worldwide. According to its estimates, chronic obstructive pulmonary disorder (COPD) afflicts around 65 million and kills 3 million people every year. Similarly, pneumonia also kills millions of people annually and is the leading cause of mortality among children under 5 years of age. Furthermore, WHO data indicates that lung cancer is the deadliest cancer, killing 1.6 million people every year. Nebulizer play a key role in managing these chronic and potentially fatal lung disorders and as the incidence of these disorders grows, the demand for Nebulizer will continue to surge.
The report states that the market value was at USD 909.7 million in 2019. Its other highlights include:
- Valuable insights into the key market drivers, trends, and restraints;
- Exhaustive analysis of the upcoming market opportunities;
- In-depth examination of the impact of the COVID-19 outbreak on the market; and
- Comprehensive study of the regional prospects and competitive dynamics influencing the market.
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Market Opportunity
Rapid Transmission of the COVID-19 Infection to Create Immediate Growth Opportunities
The SARS-CoV-2 infection attacks the respiratory tract and lungs, causing shortness of breath, acute breathing problems, and pneumonia, along with a persistent fever and cough. People with preexisting lung disorders such as asthma are at high risk of contracting the COVID-19 infection. According to the Centers for Disease Control and Prevention (CDC), asthma patients are highly recommended to carry inhalers or portable Nebulizer with them as these devices can efficiently open the lungs and allow them to function normally.
In this scenario, the uptake of inhalable drug delivery devices is likely to spike and favor the Nebulizer market growth. The only worry with these devices, as pointed out by the Asthma and Allergy Foundation of America, is their potential to transmit the infection among patients as well as healthcare workers, especially in healthcare facilities. If this issue is addressed, players can capitalize on the current pandemic and expand their presence in the market.
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Regional Analysis
Strong Healthcare Infrastructure to Support Market Growth in North America
North America boasted a market size of USD 308.4 million in 2019 and the region is likely to lead the Nebulizer market share during the forecast period. This is chiefly attributable to the presence of a robust healthcare infrastructure and patient-friendly reimbursement policies.
In addition to this, escalating number of COVID-19 cases in the US will skyrocket the demand for Nebulizer and inhalers in 2020. Similar trends are expected to be observed in Europe. On the other hand, the market is Asia-Pacific is slated for steady expansion owing to the proliferation of medical device companies and rising prevalence of chronic respiratory disorders.
Competitive Landscape
Key Players to Focus on Launching Innovative Products
Competition in this market is dominated by the presence of a few large companies, who are engaged in developing novel products to cater to the changing needs and demands of patients. The smaller players are strengthening their finances and exploring new avenues to establish themselves in this market.
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Industry Developments:
- October 2018: Philips introduced its lightest and smallest portable on-the-go nebulizer, InnoSpire Go, in North America. The innovative solution delivers medication quickly and accurately, reduces treatment time by 25%, operates silently, and has hospital-grade features.
- March 2018: The US-based medical technology company, Convexity Scientific, launched its portable, silent, and next-gen nebulizer FLYP. Featuring an all-in-one design, the device can be used at home or in outside healthcare facilities to treat chronic pulmonary disorders such as asthma effectively.
List of Key Players Covered in this Nebulizer Market Report:
- Teleflex Medical, Inc.
- Trudell Medical International
- Briggs Healthcare
- PARI Respiratory Equipment, Inc.
- Omron Healthcare, Inc.
- Allied Healthcare Products, Inc.
- GF HEALTH PRODUCTS, INC.
- DeVilbiss Healthcare LLC
- Koninklijke Philips N.V.
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Nebulizer Market Segmentations:
By Type
• Jet Nebulizer
• Ultrasonic Nebulizer
• Mesh Nebulizer
By Modality
• Portable
• Table-top
By End user
• Hospitals
• Clinics
• Homecare Settings
By Geography
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa)
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