Nebulizer Market to Garner Growth 7.8% by 2030

The global nebulizer market size was valued at approximately USD 1,075.89 million in 2021 grew to US$ 1,159.38 million USD in 2022 and is expected to reach around USD 2,122.14 million by 2030, with a CAGR of 7.8% from 2022 to 2030.

• The jet type segment accounted 65% market revenue share in 2021.
• North America accounted largest revenue share of 35% in 2021.

COPD is the third biggest reason for fatalities globally, as per the World Health Organization 2021 factsheet, with 3.23 million deaths in 2019. Over 80% of those who died were from low- and middle-income nations. In addition, asthma is a prevalent non-communicable disease that affects both adults and children, as per the World Health Organization factsheet for 2021. In 2019, it impacted the projected 262 million people worldwide, resulting in 461,000 fatalities. As per the Globocan 2020 report released by the International Agency for Research on Cancer, the total number of new lung cancer cases in 2020 will be 2,206,771. As a result, the growing prevalence of all such disorders is driving the growth of global nebulizer market. 

Report Highlights

• On the basis of type, jet segment holds the largest market share in the global nebulizer market. While the patient inhales and exhales, a jet nebulizer constantly distributes aerosol. These kinds of nebulizers have the benefit of being inexpensive and producing aerosol with hardly any effort on the part of the patient. This factor is driving the segment growth. 
• On the basis of end user, hospital and clinic segment holds the largest market share in the global nebulizer market. The growing initiatives by major market players are driving the segment growth. Cipla Ltd. announced a project in December 2021 to improve accessibility to nebulization therapy for acute asthma management in rural India’s basic healthcare clinics. 

Regional Snapshot

North America is the largest segment for nebulizer market in terms of region. The U.S. is dominating the nebulizer market in the North America region. As per the Centers for Disease Control and Prevention, asthma affected the projected 25,131,132 million Americans in 2019, with 8% of adults and 7% of children suffering from the condition. Thus, the growing number of asthma patients in the region is driving the market growth. In addition, the market players are adopting strategies for the development of nebulizer market. Respira Technologies, for instance, declared the commencement of a pharmaceutical centric commercial drug delivery gadget platform, which is a transportable nebulizer in June 2020. 

Asia-Pacific region is the fastest growing region in the nebulizer market. India holds the highest market share in the Asia-Pacificnebulizer market. The factors such as technological advancements, growing government activities, growing healthcare expenses and growing trend of medical tourism are propelling the growth of Asia-Pacific nebulizer market.

Market Dynamics

Restraints

High cost of nebulizer

As compared to inhaler, the cost of nebulizer is quite high. The number of respiratory disorder patients is growing at a rapid pace. Not everyone can afford this expensive type of device. Even developing countries do not have trend of buying nebulizer. As a result, high cost of nebulizer is restricting the growth of global nebulizer market. 

Opportunities

Growing prevalence of respiratory disorders

The respiratory disorders are mostly related to lung diseases. COPD and asthma are putting a significant financial strain on healthcare systems around the world. The incidence of these disorders has increased as a result of variety of reasons such as growing number of smokers and bad quality of air. Thus, growing prevalence of respiratory disorders is supporting the growth of global nebulizer market. 

Challenges

Alternate treatment methods and procedures

Due to healthcare advancements, the wide range of other types of products and treatments are launched in the global market. Many of the patients have stopped using nebulizers due to this reason. As a result, alternate treatment methods and procedures is the biggest challenge for the expansion of global nebulizer market. 

Recent Developments

• Pulmogine was released on the Chinese market by HCmed Innovations Co., Ltd. in October 2020.
• OMRON Corporation announced the opening of the Automation Center Tokyo (ATC-TOKYO) in Tokyo in January 2020.
• Cipla Limited announced a first-of-its-kind program in December 2021 to expand access to nebulization therapy for patients in India's rural areas.
• OMRON Corporation stated on July 22, 2020 that it will begin selling a new mobile robot named the HD-1500.

Buy this Research Report@ https://www.precedenceresearch.com/checkout/1544

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333