Pneumatic Nebulizers Market Size By Product (Breath-Actuated, Vented), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain, Italy, Japan, China, India, South Africa, Brazil, Mexico), Unit Shipments, Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023
Published Date: July 2016 | 190 Pages | Report ID: GMI625 Report Format: PDF
Pneumatic Nebulizers Market size was USD 626.2 million in 2015, with over 6% CAGR estimations from 2016 to 2023.
U.S. Pneumatic Nebulizers Market size, by product, 2012 - 2023 (USD Million)
Rising prevalence of respiratory disorders such as chronic obstructive pulmonary disease (COPD), growing geriatric population, changing lifestyle, and rapid technological advancements are the major growth factors driving the global pneumatic nebulizers market throughout the forecast period.
Rapid rise in the geriatric population globally is set to drive the pneumatic nebulizers market share, since older people have a higher risk of developing respiratory disorders. As per UN estimates, global geriatric population was close to 809.4 million in 2012, and is projected to become more than double by 2050 to reach over 2 billion. This expected rise should increase the incidence of respiratory disorders such as asthma, and COPD. As per the Centers for Disease Control and Prevention (CDC), prevalence of COPD increased from 3.2% (18–44 years) to more than 11.6% among those with more than 65 years.
There has been growing prevalence of respiratory disorders such as bronchitis, COPD, asthma, and cystic fibrosis due to rising pollution levels, and increasing level of smoking. According to the National Health Interview Survey, 2008, in the U.S., more than 23 million people are diagnosed with asthma, while around 13.6 million adults have COPD. Moreover, the burden of respiratory diseases negatively affects individuals and their families, as well as workplaces, and daily productivity, increasing the burden cost of disease on the society. Annual health care expenditures for asthma alone are estimated to be USD 20.7 billion.
The pneumatic nebulizers market is also witnessing various advancements in terms of ease of use, portability and size of devices. Technology advancements have made device size smaller and significantly more sophisticated and advanced. Increased portability and mobility due to the advent of rechargeable batteries will fuel revenue.
Pneumatic Nebulizers Market, By Product
Vented pneumatic nebulizers market size represented the dominant segment in 2015, with revenue set to surpass USD 700 million by 2023. Major drivers include growing prevalence of respiratory disorders in developing countries that require cost-effective treatment and easy integration of these devices with various types of compressors. In terms of volume, the vented segment is forecast to exceed 7.5 million units by 2023, owing to its affordability and growing number of patient pool.
The breath-actuated pneumatic nebulizers market is estimated to grow at a steady CAGR of 6.3% over the forecast period. These products have witnessed high popularity as they provide aerosol production with greater drug delivery, larger fine-particle fraction, and less drug loss during expiration.
Portable nebulizers market has seen a significant growth rise, which is near saturation level due to maturity in the conventional compressor segment. This segment is slated to grow at a CAGR of 7.5% during the forecast period, owing to rising demand for bronchodilator/corticosteroid combination therapies market.
Pneumatic Nebulizers Market, By Region
U.S. pneumatic nebulizers market size was over USD 200 million in 2015, the major contributing growth factor being upfront technology adoption, government activities to encourage early treatment for respiratory disorders, and ease of use of the technologically advanced portable devices. Europe pneumatic nebulizers market targeted to exceed USD 300 million by 2023 was majorly driven by Germany. The country showcases a high prevalence of respiratory disorders the population. An estimated 2.7 million people are diagnosed with COPD in Germany.
Asia Pacific is projected to show highest CAGR of 8% from 2016 to 2023. The rising pollution levels in emerging countries along with lack of legislation to control the pollution, and changing lifestyle trends such as smoking has increased the prevalence of COPD in these countries. Moreover, Japan’s rapidly aging population is also contributing to the potential patient pool, leading to increased demand.
Competitive Market Share
Global pneumatic nebulizers market share is garnered by few giant players, and various small players. The major strategy employed by major players is mergers and acquisitions with a view to expand their product portfolio. The companies are also focusing on expansion into low and middle-income countries. Omron Corporation, Philips Respironics, DeVilbiss Healthcare, and Becton, Dickinson and Company are among the key participants. Other active players include Heyer Medial AG, Salter Labs, Briggs Healthcare, PARI Medical, etc.
Pneumatic Nebulizers Industry Background
The industry is governed by stringent government regulations. Regulatory bodies such as FDA and CE approve the newly manufactured products for launch. The growing concern of increasing respiratory disorders has propelled the government to encourage low-income group towards cost-effective treatment. In response to the growing demand, incumbent players are launching technologically advanced, portable products. The companies also organize free health check-ups, and distribute free samples as their promotional activities boosting the sales.
The increasing cost burden of the respiratory diseases has propelled the government to take initiatives in order to curb the rising prevalence. Urban air pollution due to motor vehicles has been noted to be the pivotal risk factor responsible for this increase. The U.S. government has allocated USD 10 billion per year for controlling the high amount of pollution that is generated. The implementation of Pollution Prevention Program Strategic Plan (2010-14) encourages the reduction in the emission of greenhouse gases, reduce the use of hazardous materials, and the use of natural resources for a more sustainable economy.
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