Pneumatic Nebulizers Market size is estimated to reach USD 1.05 billion by 2023; as per a new research report by Global Market Insights, Inc. Prevalence of allergic diseases and asthma has increased dramatically over the years, mainly due to urbanization, and increasing number of motor vehicles causing high levels of air pollution.
According to the American Lung Association, over than 10 million people in the U.S. suffered from chronic bronchitis in 2011, while 4.7 million people had emphysema, and 24 million adults were diagnosed with COPD. The Global Burden of Diseases Study estimates the total number of asthma patients to be 334 million worldwide. With such high prevalence of respiratory disorders along with a projected increase in the coming years, pneumatic nebulizers market size is set to witness a healthy growth trajectory.
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The economic burden and productivity loss associated with respiratory disorders is of growing concern to the governments globally. Citing this, various associations have come forth with recommendations to manage these diseases. Recommendations such as inclusion of asthma medicines on all national lists of essential medicines, as well as under reimbursed medicines, and implementation of effective policy actions on causes of asthma such as smoking and occupational exposures have been presented. The presence of a favorable regulatory landscape will drive the global pneumatic nebulizers market.
Growing popularity for home care settings, especially among the elderly patients has also fueled growth. Both the vented and breath-actuated portable nebulizers market is set to outpace the table-top segment in the years to come. These products are expected to register the highest CAGR of 7.5% throughout the forecast period attributed to the rising need for convenience, and portability.
Favorable reimbursement scenario and high prevalence of COPD are some of the factors forecast to drive U.S. pneumatic nebulizers market size, while the presence of unmet needs in terms of low-cost treatment, and rising awareness regarding respiratory diseases in the countries of Latin America and MEA has resulted in high growth potential.
Browse key industry insights spread across 190 pages with 144 market data tables & 46 figures & charts from the report, “Pneumatic Nebulizers Market Size By Product (Breath-Actuated, Vented), By Application (Tabletop, Portable), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain, Italy, Japan, China, India, South Africa, Brazil, Mexico), Unit Shipments, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:
Key insights from the report include:
· Global pneumatic nebulizers market generated revenue of USD 626.2 million in 2015, and is anticipated to reach USD 1.05 billion by 2023, projected to grow at a CAGR of 6.8% from 2016 to 2023. Global industry volume is forecast to reach approximately 11 million units by 2023.
· Increased awareness regarding respiratory disorders and availability of technologically advanced products has boosted demand in North America.
· Germany and the UK served as the major revenue contributors for Europe pneumatic nebulizers market share, contributing over 50% revenue in 2015.
· The industry is highly competitive, key players compete on the basis of manufacturers' ability to respond quickly to changing preferences, and pricing owing to large presence of local manufacturers. Major companies are Omron Corporation, Becton, Dickinson and Company, Philips Respironics, Salter Labs, DeVilbiss Healthcare, etc.
Asia Pacific pneumatic nebulizers market growth is hinged on China, India, and Japan. China is the fastest growing regional industry witnessing a CAGR of 9.1% during the forecast period, followed by India, and Japan, while LATAM growth was driven by Mexico and Brazil.Editor's Details
Last updated on: 30/08/2016
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