Nebulizer Market Growth & Trends
The global nebulizer market size is expected to reach USD 1.70 billion by 2030, expanding at a CAGR of 5.9%, from 2023 to 2030, according to a new report by Grand View Research Inc., Rising incidence rate of chronic respiratory diseases, increasing demand for home healthcare devices, and rising geriatric population worldwide are the major factors leading to the market growth.
The COVID-19 outbreak has affected millions of people around the globe. Asthma or COPD patients, who were aware regarding the risk of airborne transmission of COVID-19, were hesitant with regard to the use of inhaled medications, which are considered as a potential source of viral transmission and immunosuppression. Though, medical practitioners advised all such patients to continue using their prescribed inhaled medications, including nebulizers. Nebulized albuterol was recommended in some parts of the U.S. as an alternative to albuterol rescue inhalers when pharmacies faced shortage of albuterol inhalers.
COVID-19 affects many elderly people. According to the American Lung Association (ALA) in 2020, nebulized therapy is a safe and effective way to manage COPD at home for patients during COVID-19. Consequently, promotes the nebulizers demand.
According to the Population Reference Bureau report, “Aging in the United States”, the geriatric population in U.S. is estimated to increase from 48 million in 2016 to 98 million by 2060. Elderly people are susceptible to respiratory diseases such as COPD and sleep apnea. Therefore, growing geriatric population is expected to expand the patient pool for manufacturers and propel the growth of the market.
Increasing commercial acceptance of mesh nebulizers due to accurate delivery of drug to the lung and lower residual volumes also aids in market growth. Furthermore, Technological advancements such as drug-device combination is further expected to create newer opportunity in the nebulizer market.
On the other hand, drug loss during nebulization is the major factor restraining the market growth. However, this can also act as an opportunity for the mesh nebulizer manufacturers as the devices are manufactured to deliver accurate drug dosage while reduce drug loss.
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Nebulizer Market Report Highlights
Jet nebulizer held over 60% market share in 2022 owing to the greater penetration and low cost of the devices.
Mesh nebulizers is the fastest growing segment with the CAGR of 6.9% due to various benefits including portability, convenience, homecare application and accurate dosage delivery
COPD dominated the market in 2022. COPD is a major health concern affecting many people across the world. Hence, the demand for nebulizer is rising.
By end-use, hospitals dominated the market in 2022. These are an integral part of the healthcare industry and are the major revenue source for the entire industry
North America dominated the nebulizer market by region in 2022. This high share can be attributed to increase in incidence of respiratory diseases, supportive government policies, favourable reimbursement schemes, rise in awareness, and increase use of home care products
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