Albany, NY -- (SBWIRE) -- 05/09/2019 -- A noticeable increase in the prevalence of chronic obstructive pulmonary disease (COPD) and asthma will lay the foundation for the steady growth of the global nebulizers market over the next three years, says Transparency Market Research in its latest report. The report is titled 'Nebulizers Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.' Another factor that will support the growth of the global nebulizers market is the adoption of government initiatives to reduce the prevalence of respiratory diseases. This trend has been brought about by the increasing healthcare burden of conditions such as asthma and COPD among patients in developing countries.
The report states that nebulizers constituted a global market worth US$610.0 mn in 2012 and will reach a valuation of US$937.7 mn by 2019. The CAGR of the market is pegged at 6.5% between 2013 and 2019.
A nebulizer is a medical device that converts liquids into a fine spray that can be easily inhaled by a patient to allow the drug to reach the respiratory tract. Nebulizers are most commonly used by asthma patients. Over the years, nebulizers have evolved in design and compactness to allow easier administration of drugs to patients. However, one major drawback with the design of nebulizers, which hasn't been effectively addressed to date, is that a substantial amount of the drug is lost during delivery. TMR analysts say that this will restrain the growth of the global nebulizers market to some extent.
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New opportunities are emerging in the Asia Pacific region for companies in the global nebulizers market. A staggeringly high number of people in regions such as Asia Pacific and Latin America suffer from COPD owing to the high pollution levels and other environmental factors here. Investments in these regions are thus expected to fetch good returns.
The report conducts a segment-wise analysis of the global nebulizers market. To do this, TMR analysts have segmented the market on the basis of product type and geography. The types of nebulizers studied in the report include: ultrasonic nebulizer, pneumatic nebulizer, and mesh nebulizer. The findings of the report show that pneumatic nebulizers held the largest share in the global nebulizers market by product type in 2012. These nebulizers are easy to carry and use, making them convenient for patients of different ages. Of the two types of pneumatic nebulizers – breath-actuated and vented – the share of the former was the highest in 2012. The breath-actuated pneumatic nebulizers segment is also expected to expand at the highest CAGR over the forecast period.
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Based on geography, the market is segmented into Europe, North America, Asia Pacific, and Rest of the World. Among these, the largest share in the nebulizers market was held by North America in 2012. Several government programs aimed at containing cystic fibrosis, COPD, and asthma have also benefited the market's growth. Asia Pacific, being an emerging market, will exhibit the highest CAGR in the global nebulizers market through the report's forecast period, which ranges from 2013 to 2019. This is attributable not only to the massive patient pool in need of effective medical devices here but also the fact that manufacturers are scaling up operations in countries such as South Korea, China, India, and Japan.
Players that have a strong hold over the global nebulizers market are GF Health Products, Inc., Philips Healthcare, Omron Healthcare, and PARI Respiratory, Inc.
About Transparency Market Research
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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