Factors, such as rising prevalence of respiratory diseases, favorable reimbursement, and increasing geriatric population, will foster the market growth during the forecast period.
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Global Nebulizers Market – Drivers, Restraints, Opportunities, Trends, and Forecasts: 2017–2023” (January 2017).
According to Infoholic Research, the nebulizers market is growing steadily due to rising prevalence of respiratory diseases, favorable reimbursement, increasing geriatric population, technological advancements, and increasing demand for home care therapeutic devices. Stringent government regulations for the approval, mandatory licensing for the practitioners, and the availability of alternatives are some of the factors hampering the market growth. The nebulizers majorly find its application in asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, pneumonia, and others. The demand for nebulizers is expected to increase for Chronic Obstructive Pulmonary Disease in future due to the rising prevalence of the diseases. According to WHO, in 2016, around 15.7 million people suffered from COPD in the US, a 6.4% increase in the incidence rate when compared to 2015.
The “Global Nebulizers” market is expected to grow at a CAGR of 6.4% during the forecast period 2017–2023 to touch an aggregate of $1.2 billion by 2023.
The market is analyzed based on three segments – product types, end-users, and regions. The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). In North America, the US and Canada are set to be the leading countries. Europe is set to be the second leading region and held more than 26% of the market share in 2016. In Asia Pacific, India, Japan, and China are the most attractive countries for the players, and holds huge business opportunities. The RoW region is set to be an emerging market in the next 5–6 years.
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The product types covered in the report are ultrasonic nebulizers, pneumatic nebulizers, and mesh nebulizers. The ease in handling of nebulizer, efficient design of drug delivery, and low cost have made jet nebulizers the largest segment and breath actuated is the fastest growing among its types. The increased efficacy of mesh nebulizers over the others has made them the fastest growing segment of the market. Currently, the pneumatic nebulizers segment is holding nearly 65% share of the total market and is expected to be on a positive year on year growth rate.
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“The nebulizers market is steadily growing with an increase in the investment for developing advanced nebulizers and strategic acquisition, which can enhance the position of the market players. The increasing prevalence of asthma and COPD population are expected to provide a better opportunity for the increase in the use of nebulizers.” – Rikitha K Murthy, Research Analyst (Research – Healthcare) at Infoholic Research
Further, the report also aims to cover the below-mentioned points:
- Provides an in-depth analysis of the key business opportunities in countries and verticals
- Provides the complete details about the various types of nebulizers
- Provides the details of trending nebulizers in the market
- Provides the complete details about the analysis of top 10 players
- Provides industry outlook including current and future market trends, drivers, restraints, and emerging technologies
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