Pune, India, Aug. 09, 2021 (GLOBE NEWSWIRE) -- The 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, shares Fortune Business Insights™ in its new report, titled “Nebulizer Market Size, Share & COVID-19 Impact Analysis, By Type (Jet Nebulizer, Ultrasonic Nebulizer, and Mesh Nebulizer) By Modality (Portable, and Table-top) By End User (Hospitals, Clinics, and Homecare Settings), and Regional Forecast, 2020-2027”.
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.
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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.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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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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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.
List of Key Players Covered in this 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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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of asthma, and chronic obstructive pulmonary disease (COPD)-Key Country/Sub-region
- Overview of Technological Advancements in Nebulizer
- New Product Launch, Key Players
- Key Industry Development such as Mergers, Acquisitions, and Partnerships
- Overview: Qualitative Insights: Impact of Covid-19 on the Respiratory Devices Market
- Key Steps being taken by Market Players
- Global Nebulizer Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Jet Nebulizer
- Ultrasonic Nebulizer
- Mesh Nebulizer
- Market Analysis, Insights and Forecast – By Modality
- Table-top
- Portable
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Clinics
- Homecare Settings
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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