Nebulizers Market Definition
The nebulizer devices market consists of sales of nebulizers by entities (organizations, sole traders and partnerships) that produce nebulizers used in respiratory care for patients with respiratory diseases including asthma, cystic fibrosis and COPD. A nebulizer is a drug delivery device that changes medication from a liquid to a mist form (fine droplets or aerosols) for direct inhalation into the lungs. The components that make up a nebulizer include air filters, tubing, and compressor to deliver medication to the user in a vaporized form.
Nebulizers Market Size
The global nebulizers market reached a value of nearly $833.8 million in 2019, having grown at a compound annual growth rate (CAGR) of 6.6% since 2015. The global nebulizers market is expected to grow from $833.8million in 2019 to about $1,667.6 million in 2020 due to an increase in demand for the use of nebulizers in the treatment of COVID-19 patients. The global nebulizers market is expected to grow at a CAGR of 10.9% to nearly $1,263.4 million by 2023. Also, the market is expected to growth to $1,553.9 million in 2025 at a CAGR of 10.9% and to $2,606.6 million in 2030 at a CAGR of 10.9%.
Growth in the historic period resulted from increased incidence of chronic respiratory diseases, rising healthcare expenditure in emerging economies. Factors that negatively affected growth in the historic period were the substitutes for nebulizers available in the market.
Going forward, increasing geriatric population, increasing demand for the home healthcare devices such as portable devices are expected to drive the market. Factors that could hinder the growth of the nebulizers market in the future include contamination of nebulizers and maintenance problems associated with it and wastage of drug during the use of nebulizer.
Nebulizers Market Drivers
The key drivers of the nebulizers market include:
Increased Acceptance Of Mesh Nebulizers
Increased acceptance of mesh nebulizers is expected to boost the nebulizers market during the forecast period. Mesh nebulizers have been shown to be well accepted by patients due to the increased portability and convenience, decreased nebulization times when compared with jet nebulizers, accurate delivery of drug to the lung, and lower residual volumes. These benefits associated with mesh nebulizers show that there would be a stronger preference to these during the forecast period, compared to other forms. Despite the high cost of mesh nebulizers, they are widely accepted by the patients as the high costs are counterbalanced by significant advantages such as reduced drug waste, easy operation and portability. Therefore, the market for mesh nebulizers is expected to grow in the coming years as it continues to establish a place for itself coupled with other driving factors such as demand for newer technology, higher quality, lighter, and more reliable devices.
Nebulizers Market Restraints
The key restraints on the nebulizers market include:
Loss/Wastage Of Drug During Nebulization
Wastage and loss of medication through nebulizers is a common issue which patients experience and this factor is expected to hinder the market during the forecast period.Nebulizer therapy requires a device that repeatedly and quickly delivers sufficient drug with minimal wastage, to the site of action. However, during nebulization aerosol with a smaller particle size are inhaled or delivered to the site of action while large particles return to reservoir feeding tube. Also, some of the drug aerosols settle on the walls of the baffle. This drug is retained within the nebulizer, (also called as residual drug or dead volume) or released into environment during expiration. This results in drug wastage. Drug wastage during exhalation is therefore challenging the growth of the nebulizer market during the period. ,
Nebulizers Market Trends
Major trends influencing the nebulizers market include:
Innovative Intelligent Nebulizers
Nebulizer manufacturers are increasingly investing in smart nebulizers which can be used by adults as well as children. Smart or intelligent nebulizers are app enabled and connected to smartphones. Users of these types of nebulizers can adjust the nebulization rate, they can choose the most suitable atomization strength according to their own demand or doctor`s advice. For instance, Briutcare`s Intelligent Mesh Nebulizer is a pocket-sized, adjustable nebulizer in which users can adjust the nebulization rate and children can play interactive games designed to encourage their compliance throughout the administration process. The nebulizer can be charged with a USB cable and can last up to 4 hours of constant nebulization. Similarly, Vectura, a UK based company that develops inhaled delivery technology, introduced VR647 which is a smart nebulizer to deliver budesonide, a corticosteroid typically used as a prophylactic therapy for asthma in children. The device can deliver the drug to a target area in the lungs, reducing the dosage and therefore side effects and can also tell when the patient is not inhaling correctly and provide warning signals.
New Portable And Easy To Use Nebulizers
Nebulizer manufacturing companies are increasingly investing in portable and easy to use nebulizers to provide effective and fast medication delivery with reduced treatment time. Easy to use nebulizers are being manufactured with built-in, rechargeable batteries. Following the trend, in 2018, Philip, a Netherland based electronic company launched its smallest portable ‘InnoSpire Go’ nebulizer which reduces the medication time by 25% and provides rechargeable battery for up to 30 treatments per charge. The product is available in the United States and countries including Australia, Denmark, Finland, Germany, Norway, and the United Kingdom Another example Convexity Scientific’s Flyp handheld ultrasonic nebulizer with a rechargeable lithium-ion battery and lighter weight.
Opportunities And Recommendations In The Nebulizers Market
Opportunities – The top growth potential in the nebulizers market by type will arise in pneumatic nebulizer market, which will gain $206.3 million of global annual sales by 2023. The top growth potential in the nebulizers market by application will arise in the asthma patients’ market, which will gain $259.9 million of global annual sales by 2023.The nebulizers market size will gain the most in the USA at $126.3 million.
Market-trend-based strategies for the nebulizers market include focusing on development of light weight portable nebulizers and to focus on vibrating technology to develop new nebulizers and take initiatives to develop products from environmentally friendly products. Player-adopted strategies in the nebulizers industry include expansion of the portfolio through launch of new devices and focusing on geographic expansions.
Recommendations – To take advantage of the opportunities, The Business Research Company recommends the nebulizers companies to focus on innovative intelligent nebulizers, invest in vibrating mesh technology, provide competitively priced offerings in low-income countries, scale up through mergers and acquisitions, increase visibility through a high performance website, and focus on making portable and easy to use nebulizers.
Nebulizers Market Segmentation
The Nebulizers market is segmented by type of devices, by application, by age, by portability, by end-use and by geography.
By Type Of Devices-
The nebulizers market can be segmented by type of devices
The pneumatic nebulizer market can be segmented into breath-actuated nebulizers and Vented Nebulizer. The mesh nebulizer market can be segmented into vibrating nebulizers and static nebulizers. The ultrasonic nebulizer is segmented can be segmented into portable nebulizer and stand-alone nebulizer.
- a) Pneumatic Nebulizer
- b) Mesh Nebulizer
- c) Ultrasonic Nebulizer
The pneumatic nebulizer market was the largest segment of the nebulizers market by type, accounting for $390.7 million or 46.9% of the total market in 2019. The mesh nebulizer market is expected to be the fastest-growing segment going forward at a CAGR of 11.6%.
By Application –
The nebulizers market can be segmented by application
The asthma was the largest segment of the nebulizers market by application, accounting for $500.4 million or 60.0% of the total market in 2019. The COPD market is expected to be the fastest-growing segment going forward at a CAGR of 11.2%.
- a) Asthma
- b) COPD
- c) Cystic Fibrosis
- d) Others
By Age –
The nebulizers market can be segmented by age
The 15-69 years was the largest segment of the nebulizers market by age, accounting for $482.7 million or 57.9% of the total market in 2019. The 70+ years market is expected to be the fastest-growing segment going forward at a CAGR of 12.4% during 2019-2023.
- a) 5 Years
- b) 5 to 14 Years
- c) 15-69 Years
- d) 70+ Years
By Portability –
The nebulizers market can be segmented by portability
The tabletop was the largest segment of the nebulizers market by portability, accounting for $500.3 million or 60.0% of the total market in 2019. The portable market is expected to be the fastest-growing segment going forward at a CAGR of 14.1% during 2019-2023.
By End-Use –
The nebulizers market are segmented by end-use into
The hospitals and clinics was the largest segment of the nebulizers market by end use, accounting for $542.0 million or 65.0% of the total market in 2019. The home healthcare market is expected to be the fastest-growing segment going forward at a CAGR of 11.4% during 2019-2023.
- c) Hospitals And Clinics
- d) Emergency Centers
- e) Home Healthcare
By Geography- The nebulizers market is segmented into
North America was the largest region in the nebulizers market, accounting for 46.8% of the global market in 2019. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the nebulizers market will be Asia-Pacific and the Western Europe, where growth will be at CAGRs of 12.6% and 13.6% respectively from 2019-2023.
- o North America
- o Western Europe
- o Asia Pacific
- South Korea
- o Eastern Europe
- o South America
- o Middle East
- o Africa
Nebulizers Competitive Landscape
Major Competitors are:
Other Competitors Include:
- • Koninklijke Philips N.V.
- • Omron Corporation
- • Aerogen
- • PARI
- • Drive Medical
- • Dr Trust
- • Dr. Morepen
- • Handyneb
- • Nuwik
- • Philips Healthcare
- • Nagashima Medical Instruments co., Ltd
- • Citizen Systems Japan Co
- • Shenzhen Bi-rich
- • Yuyao Dengyue Medical Devices Co. Ltd.
- • Shenzhen Aeon Technology Co., Ltd.
- • ResMed
- • Masimo Corporation
- • Draegerwerk AG
- • Fisher & Paykel Healthcare Limited
- • Vectura
- • GE Healthcare
- • AstraZenca
- • Medtronics
- • B. Braun Melsungen
- • Vostok Service
- • Technoavia
- • TD Trakt
- • Respiratorniy Kompleks
- • Alvateks
- • Dixion Russia
- • "Triton
- • Electronics Systems, Ltd. "
- • 3M Company
- • Medline Industries
- • Johnson and Johnson
- • Dynarex Corporation
- • Honeywell
- • Kimberly-Clark Corporation
- • Moldex-Metric
- • Getinge Group
- • Agilent technologies
- • Briggs Healthcare
- • Drive DeVilbiss Healthcare
- • InvacAre Corporation
- • Canada Medical Ltd
- • Medicom
- • Stevens Company
- • Smiths Medical
- • FLOWTRONIX