Pneumatic nebulizers market to cross the billion-dollar mark by 2023, Asia Pacific to drive the regional demand
Pneumatic nebulizers market is slated to experience remarkable growth prospects, owing to the prominent product application in the medical and pharmaceutical space. The product is extensively used in the treatment of respiratory diseases. Consequently, the surging prevalence of asthma and COPD (chronic obstructive pulmonary disease) across the globe will stimulate pneumatic nebulizers industry size. As per the study, the global aging population was measured at 809.4 million in 2012. The fact that the elderly are more vulnerable to respiratory diseases will be a major driving factor for the development of pneumatic nebulizers market. As per the report by Global Market Insights, Inc., “Worldwide Pneumatic Nebulizers Market was valued USD 626.2 million in 2015 and will collect a revenue of USD 1.05 billion by 2023 with a CAGR of more than 6% over the period of 2016 to 2023.”
U.S. Pneumatic Nebulizers Market size, by product, 2012 – 2023 (USD Million)
Of late, automation and the emergence of IoT have resulted in surging technological advancements, which has led to the development of various high-end products. The availability of such products is likely to contribute toward the quick and effective treatment of many disorders, which will favor pneumatic nebulizers market growth. The U.S. is expected to invest heavily in technological developments over the coming timeframe, pertaining to which U.S. pneumatic nebulizers market will exhibit considerable annual growth rate over the years ahead, having held a revenue of USD 200 million in 2015. The growth can be attributed to the favorable initiations taken by government to create awareness among the people about the benefits of early respiratory disease treatment. Moreover, easy availability and the heavy utilization of technologically enhanced portable products will propel the industry growth notably.
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Portable pneumatic nebulizers market will generate substantial revenue with an annual growth rate of 7.5% over the coming six years. The growth can be attributed to escalating need of corticosteroid/ bronchodilator combination therapies which are prominently used in the treatment of respiratory diseases such as COPD. Europe pneumatic nebulizers industry will surpass a revenue collection of USD 300 million by 2023, owing to the growing prevalence of respiratory disorders across this region. Germany will be the prominent revenue contributor.
Shifting trends of the consumers toward the adoption of cost effective treatment along with compatibility of the product with different types of compressors will boost the demand for vented pneumatic nebulizers. Vented pneumatic nebulizers industry will collect a revenue of more than USD 700 million by 2023 with a total sale of over 7.5 million units. The rising number of patients suffering from respiratory disorders across the developing countries will fuel the product demand considerably.
Asia Pacific pneumatic nebulizers market will generate a significant revenue with a CAGR of 8% over the coming timeframe. The attributing factors toward the market growth are lack of pollution control norms and the rapidly changing lifestyle. Japan, India, and China will be the prominent revenue contributors of APAC region.
Industry giants are planning to expand their global presence by investing significant capital into low and middle-income countries. Mergers and acquisitions are the few growth strategies adopted by the market players. The noteworthy participants in pneumatic nebulizers market are Philips Respironics, Becton Dickinson, Omron Corporation, DeVilbiss Healthcare, ARI Medical, Heyer Medial AG, Briggs Healthcare, and Salter Labs.
Author Name : Sunil Hebbalkar