The Nebulizer Market was valued at USD 1.14 billion in 2023 and is anticipated to reach a valuation of USD 1.83 billion by 2031, experiencing a compound annual growth rate (CAGR) of 6.07% throughout the forecast period from 2024 to 2031. This growth is attributed to the rising prevalence of chronic respiratory diseases, increasing demand for home healthcare devices, and a growing geriatric population base.
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A Global Rise in Respiratory Conditions Fuels Nebulizer Market Growth
Chronic respiratory conditions like asthma and COPD are becoming a major financial strain on healthcare systems worldwide. This rise in illness translates to staggering costs for treatment and management.
In the United States alone, an estimated 25 million people battled asthma in 2022 (Asthma and Allergy Foundation of America, April 2022).
Poor air quality in London triggered asthma attacks in roughly 337,500 people in 2021 (Greater London Authority, July 2021).
This rise in respiratory ailments is driving the demand for treatment devices like nebulizers.
For example, according to the World Health Organization (WHO) in 2023, a staggering 262.0 million people worldwide suffered from asthma in 2019. The WHO report also revealed that asthma tragically claimed around 455,000 lives globally in the same year.
To meet this growing need, manufacturers are focusing on developing innovative nebulizers. These advanced devices deliver medication with consistent particle size, making treatment more effective and user-friendly. Additionally, healthcare providers are becoming increasingly aware of these new technologies. Furthermore, collaborations among market players are expanding access to these advancements, further propelling market growth.
The EU dedicates a staggering 6% of its entire healthcare budget annually to manage respiratory illnesses (Global Strategy for Diagnosis, Management, and Prevention of COPD). Even within respiratory diseases, COPD stands out, consuming a hefty 60% of the EU’s total expenditure on this category.
Growing Demand for Home Healthcare Devices to Drive Market Growth
The rising cost of healthcare services and hospital stays has led to a shift in patient treatment preference towards homecare settings. The increasing cost of hospital stays for treating respiratory diseases such as COPD, asthma, and others compels patients to opt for homecare treatment.
For instance, in 2021, MDinteractive published an article that stated that the hospitalization cost for a COPD inpatient is around USD 19,000 annually in the U.S. Additionally, an article published by community homecare stated that the average daily cost of a hospital stay in the U.S. for a chronic condition such as diabetes, heart and circulatory diseases, chronic obstructive pulmonary diseases, and others is around USD 6,200 compared to USD 135 per visit for home healthcare.
This has resulted in a rise in the adoption of breathable medical devices for home healthcare. Thus, the growing demand for effective inhaled drug delivery devices and the promotion of respiratory care devices for home use by many healthcare organizations are likely to accelerate market growth during the forecast period.
List of Nebulizer Companies Profiled in Report:
- GE Healthcare
- Omron Corporation
- Koninklijke Philips N.V.
- Vectura Group Plc.
- Allied Healthcare
- Aerogen
- PARI Respiratory Equipment, Inc.
- Beurer GmBH
- DeVilbiss Healthcare LLC
- Briggs Healthcare
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Nebulizer Industry Segmentation as Follows:
BY Type
- Jet
- Mesh
- Active
- Passive
- Ultrasonic
By Application
- COPD
- Cystic Fibrosis
- Asthma
- Others
By End-use
- Hospitals And Clinics
- Emergency Centers
- Home Healthcare
Jet Nebulizers Expected to Lead the Market
Within the nebulizer market, jet nebulizers are anticipated to hold the biggest share throughout the forecast period. Â Jet nebulizers are known for their effectiveness in delivering medication as a mist for inhalation.
They require only basic, tidal breathing for operation, making them user-friendly for patients of all ages and abilities. Jet nebulizers allow for both modification and compounding of medication doses, catering to individual treatment needs.
This dominance is further bolstered by the rising prevalence of respiratory diseases like asthma. As per the World Health Organization (WHO), a staggering 262 million people worldwide suffered from asthma in 2021. This high disease burden translates to a greater need for nebulizers, propelling the jet nebulizer segment’s growth.
North America Takes the Market Dominance
North America is poised to be the global leader in the nebulizer market, capturing a significant 30% market share. Â The region is a breeding ground for continuous advancements in nebulizer technology. This focus on innovation ensures patients have access to the latest and most effective devices. North American lifestyles often prioritize convenience and portability. Manufacturers cater to this need by developing portable nebulizers that patients can easily carry for emergencies or daily use in managing respiratory conditions like asthma.
Within North America, the United States represents the biggest market segment. This is fueled by a rising burden of respiratory diseases like COPD, sleep apnea, and unfortunately even tuberculosis. The high prevalence of asthma is a major driver for nebulizer use. According to the Centers for Disease Control and Prevention (CDC), over 25 million people in the US alone suffer from asthma, with a significant portion being children.
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Mergers and Innovation Fuel Further Growth
This strong market position is further bolstered by ongoing activity within the industry. Companies are actively pursuing mergers, acquisitions, and partnerships to expand their reach. Additionally, product launches like Respira Technologies’ portable vibrating mesh nebulizer and funding initiatives such as Renovion’s $8.1 million secured in 2020 demonstrate the commitment to continuous innovation in the region
Aerogen collaborated with Nuance Pharma to develop a non-invasive approach for treating Respiratory Distress Syndrome (RDS). This collaboration grants Nuance the right to commercialize AeroFact, a novel therapy that combines a proprietary vibrating mesh technology with pulmonary surfactant drug.
In July 2021, PARI GmbH partnered with TWT Digital Health (TWT) to develop the PARI Connect app. This app allows users to plan inhalations, record medication usage, schedule doctor appointments, and monitor their therapy data. It also connects via Bluetooth with the eTrack controller, a control unit for PARI’s eFlow Technology nebulizer.
Key Takeaways From The Market Study
- Gain insights into the projected market size for nebulizers and identify the dominant regions like North America, leading the way in technological advancements.
- Understand the surging demand for nebulizers driven by a global increase in chronic respiratory illnesses like asthma and COPD.
- Explore how economic slowdowns and global events like the Russia-Ukraine war can impact the nebulizer market and pose potential challenges.
- Discover trends in nebulizer technology, including features like consistent particle size and portability for user convenience.
- Uncover details on mergers, acquisitions, partnerships, and product launches, highlighting areas for potential investment and collaboration.
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