Nebulizers Market size is projected to experience significant growth from 2019 to 2025. The high pervasiveness of chronic respiratory diseases is one of the major factors leading to nebulizers market growth. As per the Journal of the COPD Foundation, in 2015, about 15.9 million people in the U.S. were diagnosed with Chronic Obstructive Pulmonary Disease (COPD). The growing number of patients suffering from COPD will stimulate the demand for nebulizers, thus fostering the market growth.
Product innovations and technological advancements will drive the adoption rate of nebulizers in the future. The development of breath-synchronized nebulizers and active vibrating mesh ultrasonic nebulizers ensure a significant reduction in drug wastage and precise dose administration as per patients’ needs. Additionally, multifunctional nebulizers that are used for monitoring and diagnosis of various respiratory disorders will further stimulate industry growth.
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However, the lack of awareness among people regarding chronic obstructive pulmonary disease and other respiratory disorders could hamper industry growth. Moreover, limited reimbursement in developing economies will further hinder market expansion in the upcoming years.
The mesh nebulizers segment is expected to show significant growth during the forecast timeframe. Increased portability, energy efficiency, and quick & short treatment times are some of the advantages of mesh nebulizers that will stimulate market growth. Additionally, various technological advancements and increasing patient preference toward mesh nebulizers in home care settings will propel business growth in the future.
The U.S. is expected to show lucrative growth in the nebulizers market in the future. The high pervasiveness of respiratory disorders coupled with increasing geriatric population that is more susceptible to asthma an COPD will boost the market growth. Additionally, the increasing emphasis on reducing the healthcare cost and growing preference for home healthcare will further boost the demand for nebulizers in the region.
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Japan is expected to witness significant growth in the nebulizers market during the analysis period owing to the increasing prevalence of chronic respiratory diseases such as asthma and COPD. Moreover, the rising healthcare expenditure and the adoption of technologically advanced devices for home care settings are some of the key factors that will boost the nebulizers market over the forecast period.
Some of the key industry players include Aerogen Limited, Allied Healthcare Products, Inc., Becton, Dickinson and Company, Briggs Healthcare, Heyer Medical AG, Koninklijke Philips N.V., Omron Corporation, PARI Pharma, Salter Labs, and TaiDoc Technology. Key strategies adopted by the industry players include partnerships, innovative product launches, strategic collaborations, mergers, and geographic expansion to expand their business product portfolio. For instance, in April 2017, Vyaire Medical acquired Ciel Medical that was involved in manufacturing respiratory medical devices. The acquisition was aimed at expanding the respiratory device business of the company.