Global Nebulizer Market - By Type and Geography - Growth, Trends, and Forecast (2018 - 2023)
The nebulizer market is expected to register a CAGR of about 6.5%, during the forecast period. A nebulizer is a device for producing a fine spray of liquid, used for example for inhaling a drug. Rising incidence of chronic respiratory diseases, increasing demand for home healthcare devices, and rising geriatric population base are among the key factors driving market growth.
Increasing Demand for Home Healthcare Devices
The geriatric population is rising steadily. As aging is associated with the weakening of immune system, making an individual susceptible to diseases, the demand for home healthcare devices, such as nebulizers, inhalers, and glucose monitoring devices is expected to swell. Though all age groups use nebulizers for drug delivery for the treatment of respiratory diseases, people aged 60 and above prefer them the most due to the devices feasibility in home care. Since, many people shifted from hospital care to home care-based treatment, which has helped them take an active role in managing their diseases. They can opt for devices that allow better diagnosis and treatment of diseases from the comfort of their homes. These devices are easily available and are comfortable and easy to use. This shift led to the development of portable nebulizers. People use these devices for aerosol therapy at home, thus reducing the need for hospital stays. This trend will help in boosting the growth of the nebulizer market. Other factor that will affect the growth of the nebulizer market include; rising incidence of chronic respiratory diseases and rising geriatric population base.
Drug Loss during Drug Delivery
Nebulizer atomizes a drug and it is then inhaled through the respiratory tract of the patient through a mouth piece. Since the mouth piece of the nebulizer is not air tight most of the fumes that are released from the drug are squandered due to dissipation into the air. Therefore, the proper amount of dosage cannot be administered. In case of infants and children, nebulizers can be intimidating and thus due to the causation of panic they might not consume the fumes of the drug in a proper fashion. This may lead to decreased efficacy of the drug. This drawback can be overcome with the help of inhalers. Thus, this shortcoming of nebulizers will act a restraint for the growth of the nebulizer market.
North America to Dominate the Market
North America dominates the global nebulizers market due to prevalence of respiratory conditions and growing government initiative. Asia-Pacific is the fastest emerging market for nebulizers due to large number of patients diagnosed with chronic respiratory conditions.
Key Developments in the Market:
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