Global Nebulizers Market registered USD 1.0 Billion in 2019 and is anticipated with a CAGR of 5.9% during the forecast period - PMI
Covina, CA, July 06, 2020 (GLOBE NEWSWIRE) -- The global nebulizers market accounted for US$ 1.0 billion in 2019 and is estimated to be US$ 1.8 billion by 2029 and is anticipated to register a CAGR of 5.9%.
The report "Global Nebulizers Market, By Type (Ultrasonic (Portable and Standalone Nebulizers), Pneumatic (Breath Actuated Nebulizers and Vented Nebulizers), and Mesh (Static Type Nebulizers and Vibrating Type Nebulizers)), By End-user (Hospitals, Clinics, Ambulatory Surgical Centers, and Home Care Settings), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Key Highlights:
- In Nov 2018, Koninklijke Philips introduced InnoSpire Go portable nebulizer in U.S. The product is the lightest and smallest portable handheld nebulizer.
- In October 2019, Koninklijke Philips introduced CSR campaign, to spread awareness on childhood pneumonia in India. In addition, the company aims to increase its reach in India and market penetration. The initiatives like these are expected to propel the market growth in the near future.
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Analyst View:
Increases cases of chronic respiratory diseases
Growing incidence rate of chronic respiratory diseases, increasing demand for home healthcare devices, and rising geriatric population is leading to boost growth of the target market globally. According to data published by lung.org, in 2018, Chronic Obstructive Pulmonary Disease (COPD) is the foremost cause of death in U.S. Besides, growing consumption of alcohol, tobacco, ultra-processed products, including sugar-sweetened beverages is a major cause for the expanding prevalence of respiratory diseases. As per the Centers for Disease Control and Prevention (CDC) data, approximately 14% of deaths in adults aged 30 to 70 years in North America are caused due to tobacco consumption. Therefore, a growth in number of smokers and environmental pollution is expected to rise the demand for nebulizers.
Innovations in product
The advancement in nebulizers that features aerosol drug delivery technology with least drug wastage is projected to boost the global nebulizers market growth. Patients witnesses an important role in controlling their diseases by choosing for devices that assist them in treatment and diagnosis at the comfort of their own homes. This patient preferences shift will expand global nebulizer market growth scenario in the coming years. Also, growth in respiratory cases form a major factor.
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Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Nebulizers Market”, By Type (Ultrasonic (Portable and Standalone Nebulizers), Pneumatic (Breath Actuated Nebulizers and Vented Nebulizers), and Mesh (Static Type Nebulizers and Vibrating Type Nebulizers)), By End-user (Hospitals, Clinics, Ambulatory Surgical Centers, and Home Care Settings), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029
Key Market Insights from the report:
The global nebulizers market accounted for US$ 1.0 billion in 2019 and is estimated to be US$ 1.8 billion by 2027 and is anticipated to register a CAGR of 5.9%. The market report has been segmented on the basis of type, application, and region.
- By type, pneumatic nebulizers accounts for the highest share in nebulizers market owing to their efficient design, ease of handling, and low cost.
- By application, hospitals are projected to register for the highest share in the market over the forecast period due to larger patient footfall and favorable reimbursement policies. Furthermore, emergency centers are anticipated to account for the lucrative growth due to growing cases of sudden asthmatic attacks.
- By region, North America accounted about 35.0% share of the market in 2019 due to increasing respiratory disorders and efforts by the government such as favorable reimbursement scenario, well-established healthcare infrastructure, and growth in customer awareness.
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Competitive Landscape:
The prominent player operating in the global nebulizers market includes Allied Healthcare Products, Inc., CareFusion Corporation, Omron Healthcare Co., Covidien plc, Philips Healthcare, GE Healthcare Ltd., Agilent Technologies, Inc. Ltd, Invacare Corp., PARI Respiratory Equipment, Inc. and GF Health Products, Inc.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
- Introduction
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis
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