-The latest market research report by Technavio on the global nebulizer market predicts a CAGR of more than 6% during the period 2017-2021.
The report segments the global nebulizer market by product (pneumatic nebulizer, mesh nebulizer, and ultrasonic nebulizer), by end-user (hospitals and ASCs, clinics, and home-care), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global nebulizer market, according to Technavio healthcare and life sciences researchers:
- Rising prevalence of respiratory disorders: a major market driver
- In 2016, the upper extremity segment dominated the market by occupying almost 57% share
- In 2016, the Americas dominated the global nebulizer market, followed by EMEA and APAC
- Omron Healthcare, BD, PARI Medical, Allied Healthcare, and Koninklijke Philips are the leading players in the market
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Market growth analysis
Rising prevalence of respiratory disorders such as COPD, asthma, bronchitis, emphysema, cystic fibrosis, pneumonia, and lung cancer are increasing in several developed and developing nations. This is one of the major factors driving the global nebulizer market.
Nebulizers are used to treat shortness of breath in individuals suffering from these diseases. The growing level of pollution, rapid urbanization, and the adoption of modern, unhealthy lifestyles have led to increased use of nebulizers among patients suffering from various respiratory ailments. Nebulizers are also recommended by medical professionals for treatment of shortness of breath in individuals suffering from these diseases.
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Geographical analysis
Technavio researchers anticipate high growth for the global nebulizer market in the Americas due to the high prevalence of respiratory disorders and increasing elderly population with respiratory ailments. In 2016, the Americas had the majority share in the global nebulizer market, holding 48% of the total market share. Most of the medical device manufacturers in the US develop innovative devices by investing significantly in R&D, thus creating a market for technologically advanced products.
Competitive vendor landscape
The global nebulizer market is highly competitive due to the presence of several local and global vendors. These vendors offer a wide portfolio of products for respiratory disorders such as asthma, bronchitis, and cystic fibrosis. The increasing demand for nebulizers among end-users like hospitals and clinics, the rising geriatric population, and the increasing prevalence of chronic respiratory diseases provide a lucrative opportunity for various vendors to increase their sales and revenue by effectively marketing their products in developed and the developing countries.
According to Neha Noopur, a lead analyst at Technavio for research on orthopedics and medical devices, “The global vendors are adopting new marketing strategies like online marketing, to increase product accessibility and awareness. To have a competitive edge, both local and global vendors are focusing on the development of technologically advanced nebulizers with improved comfort and efficiency, which would increase patients’ satisfaction. These players are investing in R&D to develop innovative technology and increase their foothold in emerging markets.”
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source:-Businesswire