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The global nebulizer market size stood at $765.1 million in 2019, and it is expected to reach $1,698.1 million by 2030, advancing at a CAGR of 7.4% during the forecast period (2020–2030). The growth of the market is mainly attributed to the surging number of COVID-19 patients, increasing cases of other respiratory diseases, rising aging population, and increasing consumption of cigarettes.
The ongoing COVID-19 pandemic has increased the demand for nebulizers across the globe, mainly because it is essentially a respiratory disease. This disease severely impairs breathing; therefore, the increasing cases of this viral infection are leading to the rapid procurement of nebulizers around the world.
On the basis of product type, the pneumatic nebulizer category is currently dominating the nebulizer market, in terms of revenue. This is majorly ascribed to the fact that these nebulizers offer a range of particle sizes with no medication restrictions and are more durable. Therefore, a large number of patients, especially the older ones, opt for pneumatic nebulizers.
Based on portability, portable nebulizer is expected to be the faster-growing category in the nebulizer industry during the forecast period. The rising geriatric population across the globe and their demand for high treatment convenience are leading to a rising demand for these home-use healthcare devices. According to the World Population Ageing 2019 publication by the United Nations, in 2019, there were 703 million people aged 65 years or above on earth, and their population is expected to rise to 1.5 billion by 2050.
Among all applications, the asthma category generated the highest revenue in the nebulizer market in 2019, which is further projected to rise at a significant rate during the forecast period. It is mainly owing to the increasing number of cases of asthma worldwide. According to the World Health Organization (WHO), asthma is the most common chronic disease among children worldwide, and more than 339 million people are living with it currently.
On the basis of end user, the nebulizer market is dominated by hospitals and ASCs currently, and the trend is expected to continue during the forecast period. The greater footfall of patients at these healthcare settings and increasing accessibility of hospitals to populations of all income levels are the major factors leading to this category’s dominating position in the global market.
North America held the largest share in the global nebulizer market in 2019, mainly due to the increasing cases of respiratory diseases, high healthcare spending, and launch of new products in the region. For instance, in October 2018, Koninklijke Philips N.V. announced the U.S. launch of InnoSpire Go, which is a small, lightweight, and easy-to-use portable handheld nebulizer system, designed to deliver medication quickly, thus reducing the treatment time substantially.
Globally, APAC is expected to advance at the highest CAGR during the forecast period in the nebulizer market. This would mainly be due to the continuous growth in the demand for generic nebulized drugs in this region, increase in tobacco smoking, rise in air pollution levels, and increase in healthcare spending. There are a large number of people in countries such as India, China, and Japan who smoke cigarettes. This leads to a substantial increase in the prevalence of respiratory diseases, thereby leading to the surging requirement for nebulizers for treatment.
Collaborations are a major trend in the nebulizer market, with various players engaging in these activities to develop advanced products. For instance, in March 2020, General Motors Company and Ventec Life Systems Inc. collaborated with StopTheSpread.org, a U.S.-based private-sector organization, to increase the production of respiratory care products, to support the fight against the COVID-19 pandemic.
According to the WHO, more than three million people die each year of chronic obstructive pulmonary disease (COPD); this accounts for 6% of the deaths worldwide. Moreover, 90% of COPD deaths occur in low- and middle-income countries. For the treatment of these patients, nebulizers are required; hence, a high number of respiratory diseases cases across the world is driving the growth of the nebulizer market.
According to the United Nations’ World Population Ageing 2019 report, the APAC region boasts the largest elderly population in the world. The number of elderly people in the region was 395.3 million in 2019, which would increase to 954.7 million by 2050. Aging is a common risk factor for chronic, especially pulmonary, diseases, many of which require nebulization therapy. Hence, the increasing number of old people is propelling the growth of the nebulizer market.
The rise in the healthcare expenditure plays a key role in the growth of the market. In February 2019, a report by the WHO revealed a swift rise in global health spending, which was particularly noticeable in low- and middle-income countries, where health spending is growing with a higher average rate than in high-income countries. Furthermore, as per the World Bank’s data, healthcare expenditure reached 9.89% of the worldwide gross domestic product (GDP) in 2017 from 9.04% in 2007. The rising healthcare expenditure increases the purchasing power and spending on healthcare of an individual, which, in turn, supports the growth of the nebulizer market.
|Base Year (2019) Market Size||$765.1 Million|
|Forecast Period (2020-2030) CAGR||7.4%|
|Report Coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Analysis, Companies’ Strategic Developments, Product Benchmarking, Company Profiling|
|Market Size by Segments||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Analysis, Companies’ Strategic Developments, Product Benchmarking, Company Profiling|
|Market Size of Geographies||Product Type, Portability, Application, End User, Geography|
|Secondary Sources and References (Partial List)||American College of Cardiology, Asia Pacific Association of Allergy, Asthma, and Clinical Immunology, Centers for Disease Control and Prevention, European Society of Cardiology, Organisation for Economic Co-operation and Development, United States Food and Drug Administration, World Bank Group, World Health Organization|
The global nebulizer market is highly competitive in nature, with the giant players involved in launching new products, along with various public awareness programs, in order to enhance their portfolio and brand image. Additionally, smaller players are strengthening their finances and exploring new avenues to establish themselves in the market.
For instance, in June 2020, Respira Technologies Inc. launched its pharmaceutical-focused commercial development program for the RespiRx drug delivery platform. RespiRx is an ultra-portable handheld vibrating mesh nebulizer for local and systemic treatment.
Similarly, in March 2018, Convexity Scientific Inc. launched its Flyp nebulizer for patients with asthma and COPD. It includes a vibrating internal disk that produces an inhalable aerosol mist, to deliver medication deep into the patients’ lungs. As per the company, the device is powered by a rechargeable lithium-ion battery, and it can deliver 10 treatments on a single charge.
The nebulizer market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Product Type
Based on Portability
Based on Application
Based on End User
The surging number of COVID-19 patients, rising cases of other respiratory diseases, increasing air pollution in emerging economies, growing geriatric population, rising healthcare expenditure, availability of the portable devices of the key players, and increasing use of cigarettes are some of the key factors driving the growth of the global nebulizer market.
Pneumatic nebulizers dominate the global market in the current scenario, owing to the increasing cases of respiratory diseases and growing geriatric population.
The growth of the North American market can be attributed to various factors, including the increasing cases of respiratory diseases and launch of new products by the key players.
Pneumatic, ultrasonic, and mesh nebulizers are covered in the report.