PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484674
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484674
Key Highlights
The nebulizer market generated a value of USD 1,050.2 million in 2023, which will rise to USD 1,696.7 million, powering at a 7.4% compound annual growth rate, by 2030.
This is because of the surging aging population, rising incidence of chronic and respiratory illnesses, growing need for home healthcare devices, and mounting cigarette consumption.
As per the CDC, chronic obstructive pulmonary disease is the fourth major cause of death in the U.S.
Augmented consumption of extremely processed products like tobacco, sugar-sweetened beverages, and alcohol is a main contributor to the amplified incidence of respiratory illnesses in North America.
The nebulizer industry is largely driven by the rising incidence of respiratory disorders, because of increased pollution levels and changing lifestyles.
Aging people are more prone to respiratory ailments and chronic disorders and are more likely to suffer from chronic respiratory disorders.
This increasing respiratory problem will boost the need for nebulizers in the coming years.
Because of the rising consciousness of the advantages related to nebulizers, these devices have become extensively employed in treating respiratory disorders like COPD and asthma.
Healthcare firms are progressively focused on self-care and home-based treatments, which also boosts the need for nebulizers.
Key Insights
North America led the industry in 2023, generating approximately USD 500 million, and it will remain leading throughout this decade.
The higher incidence of asthma and various other chronic respiratory illnesses, and the rising utilization of improved wearable devices have aided the mounting need for such devices in this region.
Europe accounts for the second-largest share of the industry. This is attributed to the rising prevalence of respiratory ailments, which aids in the surged need for these devices.
APAC is likely to advance at the fastest compound annual growth rate during this decade.
This is because of the rising incidence of chronic respiratory illnesses, the advancements in healthcare infrastructure, and the surging count of medical device businesses developing delivery devices in this region.
The mesh nebulizer category is likely to observe lucrative growth during this decade.
This will be because it is a technologically enhanced compact-sized device that reduces drug loss, boosts patients' acceptance, assists in quick treatment, and is convenient and portable.
The portable nebulizer category was the largest contributor to the industry, because of the surging elderly population and its rising need for appropriate treatment.
The exclusive features of these devices like small size for easy home use will further boost the need for these devices.
The asthma category is the largest contributor to the industry. This is mainly because of the increasing count of asthma cases.
Hospitals accounted for the leading share of the industry.
This can be mainly because of the augmented requirement for nebulizer devices in hospitals, mainly because of the larger count of patient admissions among people with comorbidities
The home care category will propel at the fastest compound annual growth rate during this decade. This is because patients are inclined to favor aerosol treatment at home instead of going to hospitals or clinics.