Nebulizers Market Size Estimated to Observe Significant Growth by 2019
Albany, NY -- (SBWire) -- 01/11/2019 --Nebulizer is a medical device which can convert the liquid medication into mist or aerosol. Nebulizer is primarily utilized for the treatment of respiratory diseases such as asthma, COPD and cystic fibrosis. Increasing prevalence of asthma, COPD and cystic fibrosis drives the global nebulizers market.
Moreover, increasing geriatric population also accentuates the global market for nebulizers. In addition, rising government initiatives in developed nations such as U.S, U.K and Japan also supports the growth of this market. The global nebulizers market was valued at USD 610.0 million in 2012 and is expected to grow at a CAGR of 6.5% from 2013 to 2019, to reach an estimated value of USD 937.7 million by 2019.
The global nebulizers market is segmented based on product types into pneumatic nebulizer, ultrasonic nebulizer and mesh nebulizer. In 2012, pneumatic nebulizer accounted for the largest market share of the global nebulizers market owing to its cost effective nature and easy to handle. Pneumatic nebulizers are further classified as vented and breath-actuated pneumatic nebulizers.
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In 2012, breath actuated pneumatic nebulizers segment accounted for the largest share of the global pneumatic nebulizers market due to factors such as cost effectiveness and efficient drug delivery. Moreover, the breath-actuated pneumatic nebulizers segment is expected to grow at the highest CAGR from 2013 to 2019 in the global pneumatic nebulizers market. Ultrasonic nebulizers are further segmented into standalone and portable ultrasonic nebulizers. Portable ultrasonic nebulizers accounted for the largest share as they are easy to handle and operate.
North America accounted for the largest share in the global nebulizers market in 2012 owing to rising prevalence of respiratory diseases such as asthma, COPD and cystic fibrosis. In addition, increasing government initiatives in this region also supported the growth of nebulizers market in the North American region.
Asia-Pacific was observed to be an emerging market for nebulizers and is expected to grow at the highest CAGR from 2013 to 2019. This growth was mainly attributed due to presence of large patient pool diagnosed with chronic diseases such as asthma and chronic pulmonary obstructive diseases (COPD) in this region. Also, manufacturers are expanding their operations in Asian countries such as India, China, Japan and South Korea.
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For example, Omron Healthcare, Inc., established its subsidiary in South Korea to sell its nebulizers in this region. Thus, all the above mentioned factors collectively supports the growth of nebulizers market in Asia-Pacific region. Some of the key players having presence in the global nebulizers market are Philips Healthcare, Omron Healthcare, GF Health Products, Inc. and PARI Respiratory, Inc.
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