According to the latest report published by Credence Research, Inc. “Nebulizers Market Growth, Future Prospects and Competitive Analysis, 2016-2022,” the nebulizers market was valued at USD 752.8 Mn in 2015, and is expected to reach USD 1,162.2 Mn by 2022, expanding at a CAGR of 6.4% from 2016 to 2022.
Rising prevalence of respiratory disorders, increasing environmental population and growing geriatric population are the major factors driving the global market for nebulizers. North America held the largest regional market, accounting for the market share of over 30% in 2015, and is anticipated to dominate the global nebulizers market during the forecast period of 2016 to 2022. Rising geriatric population in the region, susceptible for respiratory diseases, and higher spending for home healthcare segment together drive the North America nebulizers market. Asia Pacific is expected to grow at a highest growth rate during the focus period, due to developing healthcare infrastructure, rising awareness regarding better health among the masses and rising number of regional device manufactures driving the nebulizer market in the region.
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Among the device types, pneumatic nebulizer is the most widely accepted nebulizer device in terms of revenue. Better suitability towards all types of medication makes pneumatic nebulizers the most prominently used nebulizer. Moreover, effective drug delivery, easy to handle and portability features are the driving factors of the pneumatic nebulizers. Mesh nebulizers are anticipated to grow at the highest growth rate during the forecast period due to its faster drug delivery rate, self contained power source, portable and optimized particle of size for specific drugs making it the most effective nebulizers than the other counter parts.
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Home end user segment held the largest share in end user segment of the global nebulizer market. Technological advancements in the nebulizer devices have made it easily operational, and portable. Moreover, introduction of low cost devices from the manufacturers have driven the home end user segment through 2022. Physician/Clinics segment is anticipated to grow at a fastest rate during the forecast period due to the rising preference of the of the patients.
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