The Global Nebulizer 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.
The market is segments by three types of nebulizers, pneumatic nebulizers, ultrasonic nebulizers, and mesh nebulizers. In 2015, pneumatic nebulizers dominated the market and accounted for the market share of 63.8%. The key factors assisting the growth of this segment are high patient compliance, efficient drug delivery, and cost efficient compared to other types of nebulizers.
As of the current market scenario, North America is the largest regional market for Nebulizer technology. The highest market share of the region is attributed to growing prevalence and diagnosis rate of COPD and respiratory disease, with increasing awareness and acceptance to novel technology and reimbursement. Asia Pacific is lucrative and the fastest progressing market during the forecast period. Some prime factors attributed to the progress of Asia Pacific markets include emerging economies increase investment of healthcare infrastructure, surge in prevalence of respiratory diseases due to pollution and smoking
Key Market Movements:
Rising prevalence of respiratory diseases due to environmental, habitual, and congenital reasons
Rising patient awareness associated with the use of nebulizers
Rising disposable income and patient awareness, coupled with introduction of cost effective and portable nebulizers have led to the market penetration in Asia Pacific