How innovative products will drive the Nebulizers Market and expand the Industry share of vendors worldwide ?
A Nebulizer is a medical device which is used to administer medication or to give high doses of medicine to patients. These are basically breathing machines, used to treat various lung diseases such as asthma and other respiratory illnesses.
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 the prevalence of cost-effective and portable nebulizers have led to the market penetration. The augmented use of home healthcare devices is one key trend in boosting the growth of the market.
North America dominated the market whereas the Asia Pacific emerged as the region with higher growth opportunities
North America to be the largest market for nebulizers during the forecast period and is anticipated to retain its dominating hold over the market owing to the high prevalence of respiratory disorders, such as asthma, cystic fibrosis, and COPD, among the ageing population. Moreover, growing government initiatives in this region would propel the market demand.
On the other hand, Asia-Pacific is the fastest emerging market for nebulizers due to a large number of patients diagnosed with chronic respiratory conditions owing to increasing pollution in the Asian countries. Meanwhile, India is also expected to show high growth opportunities for the nebulizers. The most of the growth comes from the north zone, and the zone has emerged as the market leader with a whopping market share of approximately 35%.
Europe nebulizer market is estimated to witness robust growth over the forecast period. According to the British Lung Foundation, almost one person dies in the UK in every 5 minutes due to lung disease. Moreover, the high prevalence of lung diseases in Europe region is projected to drive the growth of nebulizer market in this region over the forecast period.
Customized devices to attract the customers towards the nebulizers market
Advancements in technology in the healthcare industry have led to the innovation in devices coupled with improvement in devices. Customization of the devices as per the patient requirement is expected to drive the market growth in the coming years. Manufacturers are increasing investments in the research and development activities to innovate the nebulizers with a specific specification such as compact, portable, user-friendly, and provide accurate results. For instance, MicroAIR U22 and CompAIRNE-C28P developed by Omron Healthcare are some of the innovative nebulizers.