Market Research Report
Global Nebulizer (Jet, Mesh, Ultrasonic) Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)
|Global Nebulizer (Jet, Mesh, Ultrasonic) Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)|
Published: May 6, 2020
Content info: 121 Pages
Delivery time: 1-2 business days
The nebulizer market is expected to reach US$1.44 billion in 2024, recording a CAGR of 4.02%, during 2020-2024. The factors such as, expansion of medical devices, upsurge in air pollution, growth in geriatric population, increasing medical technology R&D spending, rising prevalence of asthma, rapid urbanization and upsurge in healthcare expenditures would drive the growth of the market. However, the market growth would be challenged by high cost of mesh nebulizing therapy, side effects associated with the use of nebulizers and stringent government regulations. A few notable trends may include growing frequency of e-smoking, increasing focus on telehealth, bigger attention towards mesh nebulizers and increasing adoption of home nebulizing therapy.
The global nebulizer market is fragmented into jet nebulizer, mesh nebulizer and ultrasonic nebulizer. The market is highly concentrated with jet nebulizers owing to the low cost and easy accessibility factors. Although, people's preferences are gradually shifting towards mesh nebulizers due to the compact size devices and minimized drug loss, thereby improving the effectiveness of the treatment. Ultrasonic nebulizers are growing steadily owing to a wider range of benefits such as increased portability, low drug delivery time and low noise, which are providing a scope for its market growth.
The fastest regional market was North America owing to the growing prevalence of chronic respiratory disorders and continuous advancement in medical technology. Other regions also secured considerable shares in the global market due to rise in favourable reimbursement scenario, rise in customer awareness and well-established healthcare infrastructure. Furthermore, the sudden outbreak of COVID-19 is creating a huge demand for various respiratory devices, providing strong grounds for market growth of nebulizers globally.