Nebulizer Market to Grow due to Rising Cases of Respiratory Diseases
The global nebulizer market is expected to reach a value of $1,698.1 million in 2030, rising from $765.1 million in 2019, progressing at a 7.4% CAGR during the forecast period (2020–2030), as per a report by P&S Intelligence. The market is growing due to the increasing air pollution levels, rising usage of cigarettes, surging geriatric population, increasing healthcare expenditure, and easy availability of portable devices. On the basis of product, the market is divided into mesh, pneumatic, and ultrasonic.
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Out of all these, the pneumatic division held the major share of the market in the past, owing to the fact that these nebulizers provide a range of particle sizes that have no medication restrictions and are further more durable. Pneumatic nebulizers also offer dosing control and facilitate lesser drug loss. It is due to such properties that a wide range of people, majorly elderly population, use these nebulizers. The division is further categorized into vented and breath-actuated.
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The surging cases of respiratory diseases are among the primary driving factors of the nebulizer market. As per the WHO, over 3 million people die every year because of COPD, which accounts for about 6% of the deaths around the world. Furthermore, 90% of deaths because of this disease occur in middle and low income countries. Nebulizers are important medical devices that are used for the treatment of COPD, therefore, the increasing COPD cases is driving the market.
In conclusion, the market is being driven by the rising cases of COPD and increasing geriatric population around the world.