December 14, 2021 01:40 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, Dec. 14, 2021 (GLOBE NEWSWIRE) -- The global nebulizers market size was USD 1.04 billion in 2020. The market is projected to grow from USD 1.16 billion in 2021 to USD 1.93 billion in 2028 at a CAGR of 7.5% in the 2021-2028 period.
This information is provided by Fortune Business Insights™, in its report, titled, “Nebulizers Market, 2021-2028.”
According to our research experts, these machines are intended to cure asthma, Chronic Obstructive Pulmonary Disease (COPD), asthma cystic fibrosis, as well as other respiratory sicknesses. The increasing occurrence of breathing complaints across the world combined with the growing geriatric population are probable to drive the market growth during the forecast period.
March 2021: PARI Pharma GmbH, declared the approval of the LAMIRA Nebulizer System for carriage of Insmed’s drug product ARIKAYCE based in Japan. It is the first-ever drug-specific eFlow Technology nebulizer listed outside Europe and North America
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Nebulizers Devices Displays Modest Growth amid COVID-19 Pandemic
Presently, the COVID-19 pandemic outbreak across the world has fast-tracked the demand for these machines to effectively regulate the spread of this respiratory disease. Since the treatment for this infection is presently unobtainable, acute care medical equipment conducts an important role in pain administration in patients undergoing COVID-19 infection, largely in the form of shortness of breath.
Rising Occurrence of Respiratory Complaints to Thrust Market Growth
Respiratory infections have become a substantial apprehension across the world. The increasing load of chronic respiratory sicknesses such as asthma, Chronic Obstructive Pulmonary Disease (COPD), cystic fibrosis, and rising embracement of an inactive lifestyle are anticipated to hasten the demand for operative drug delivery devices, further driving the nebulizers market growth.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/nebulizers-market-100707
On the basis of product type, the global market is segregated into jet, mesh, and ultrasonic nebulizers. The jet segment led the market share in 2020, majorly owing to its low cost.
Based on modality, the market is divided into portable and table-top.
The market is classified into hospitals, clinics, and home care settings in terms of end user.
Based on geography, the global market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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North America was worth USD 0.35 billion in 2020 and held the maximum nebulizers market share. A greater occurrence of asthma, and other chronic respiratory conditions, pooled with increasing implementation of progressive portable nebulizers in the region, have been contributory in an augmented share of North America in the global market.
The market in Asia Pacific is navigated by the surging frequency of chronic respiratory diseases, refining healthcare set-up, and the budding amount of medical device companies developing inhaled drug delivery apparatuses for curing asthma and COPD.
On the contrary, the market in Latin America and Middle East & Africa is projected to grow at a sluggish speed.
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Occurrence of Advanced Devices to Aid Players Institute Sturdy Position in Market
The players are largely focusing on the expansion of ground-breaking devices and engaging into tactical partnerships and collaborations in order to reinforce their position in this market. Moreover, the market is further branded by a huge proportion of small manufacturers in emerging countries, focusing on the progress of comparatively lower cost gadgets.
List of Key Players Covered in the Report
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