PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1519297
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1519297
With the rapid rise in the global geriatric population, there is an increasing demand for devices and equipment that address the various health issues faced by older adults. This surge is complemented by the growing per capita income of consumers in both developed and developing regions, leading to the widespread adoption of advanced medical devices for treating a range of diseases. As a result, manufacturers of nebulizer devices are witnessing a shift in pricing strategies as production moves to emerging economies.
Shift in Production Dynamics
The shift in the production of nebulizer devices to developing regions is largely due to the availability of affordable land. Major companies like Koninklijke Philips N.V., Becton, Dickinson and Company, and others have established manufacturing plants in India. This trend is expected to continue as more companies look to set up their manufacturing operations in developing regions.
North America Leading the Charge
In North America, the nebulizer devices market is expanding rapidly, driven by continuous technological innovations. The fast-paced lifestyle in this region demands portable nebulizer devices that can be easily transported and used by patients suffering from asthma and other respiratory diseases such as bronchitis and pneumonia. The adoption of newly launched nebulizers that offer quick drug delivery and high-end technological features with greater accuracy is gaining traction among the U.S. population, thereby boosting the growth of the global nebulizer devices market.
For instance, Omron Healthcare, Inc. introduced the Portable MicroAir Nebulizer device, featuring super small nebulizers with Vibrating Mesh Technology. Weighing only 6 oz, this device fits discreetly in one's palm, making it highly portable. Inspired by such innovations, market companies are developing portable devices for newborns suffering from various respiratory problems such as COPD (Chronic Obstructive Pulmonary Disease) and asthma. These nebulizer devices are equipped with rechargeable batteries, and various types of masks are available for neonatal use.
Asia Pacific Emerging as a Strong Competitor
The Asia Pacific region is witnessing a growing prevalence of chronic obstructive pulmonary disease (COPD), which has intensified the use of nebulizer devices. COPD is a chronic progressive condition that includes lung disorders such as asthma and chronic bronchitis. The increasing exposure to biomass smoke has contributed to the rising COPD cases in this region.
In China, the prevalence rate of COPD is significant, while in India, there are numerous deaths annually due to this condition. The prevalence of COPD in New Zealand and Australia is also noteworthy. The growing disposable income of consumers in the Asia Pacific region enables them to afford advanced technologies and better treatment options. Consequently, the demand for nebulizer devices is expected to intensify in this region in the coming years.
Competitive Analysis
Market Segmentation
The nebulizer devices market is segmented based on product type, end user, application, and region.