Nebulizers Market to Reach US$ 1.7 Bn by 2028, Rise in Prevalence of Asthma, COPD, and Cystic Fibrosis to Drive the Market
Albany NY, United States: According to the report, the global nebulizers market was valued at US$ 1 Bn in 2020 and is projected to expand at a CAGR of 6.6% from 2021 to 2028. A nebulizer is a medical device used for the treatment of respiratory disorders (asthma, COPD, and cystic fibrosis) that converts liquid medication into mist or aerosol. Hence, the medicine can easily reach into the lungs of a patient when inhaled through the mouth or a face mask.
North America was the largest market for nebulizers in 2020. The region dominated the global market due to substantial investments, strong economic growth, and increase in incidence of asthma and COPD. Moreover, technological advancements, surge in access to healthcare services, and entry of new manufacturers are other factors expected to fuel the growth of the market in North America during the forecast period.
Asia Pacific is projected to be a highly lucrative market for nebulizers during the forecast period. The market in the region is anticipated to expand at a high CAGR during the forecast period. Rapid expansion of the market in the region can be attributed to increase in number of asthma and COPD cases, which require rapid treatment.
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Increase in Number of Respiratory Diseases to Drive Market
Respiratory diseases are increasing among individuals due to which they are highly dependent on various inhaling devices such as nebulizers to provide them an ease in breathing. Asthma and COPD become quite crucial and problematic after 65 years of age and hence, requires treatment with the use of nebulizers.
Nebulizers are the preferred choice, as these can convert liquid medication into aerosol or mist. Patients can easily inhale the aerosol through a mouthpiece or facemask (connected to the nebulizer) without feeling uncomfortable.
Pneumatic Nebulizers Segment to Dominate Global Market
In terms of product type, the global nebulizers market has been classified into pneumatic nebulizer, ultrasonic nebulizer, and mesh nebulizer. The pneumatic nebulizers segment accounted for a leading share of the global market in 2020. The demand for pneumatic nebulizer is high due to its cost-effectiveness compared to ultrasonic and mesh nebulizers.
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North America to Dominate Global Market
In terms of region, the global nebulizers market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global nebulizers market in 2020, followed by Europe. The region's dominance can be attributed to highest number of asthma and COPD cases diagnosed in the world.
The market in North America is driven by rise in prevalence of various respiratory disorders such as asthma, cystic fibrosis, and chronic obstructive pulmonary disease (COPD). Other factors such as large geriatric population and rise in demand for personalized medicines are expected to augment the market in the region.
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Emerging markets in Asia Pacific hold immense growth potential due to rise in prevalence of asthma and bronchitis. Moreover, improving purchasing power, consumer awareness about health issues, and better disease management are likely to fuel the growth of the nebulizers market in Asia Pacific.
Competition Landscape
The global nebulizers market is fragmented in terms of number of players. Key players in the nebulizers global market include Agilent Technologies, Inc., Allied Healthcare Products, Inc., CareFusion Corporation, Covidien plc, GE Healthcare Ltd., GF Health Products, Inc., Omron Healthcare, Inc., PARI Respiratory Equipment, Inc., and Philips Healthcare.
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