Nebulizers Market By Product (Ultrasonic Nebulizer, Compressor Nebulizer, Mesh Nebulizer, Portable Nebulizer, Pediatric Nebulizer, Accessories); By End User (Hospitals, Homecare Patients, Clinics, Other Healthcare Providers) - Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Nebulizer is a drug delivery device which is used to administer medication or to give high doses of medicine to patients. These are basically breathing machines which are used to treat various lung conditions such as asthma and other respiratory illnesses.
Global nebulizer market is expected to thrive at a notable CAGR over the forecast period. Further, lung diseases are becoming a major reason for deaths across the globe. Nebulizer market is projected to grow on the back of increasing penetration of respiratory disease across all regions. Further, increasing occurrence of respiratory diseases such asthma, cystic fibrosis, and other respiratory illnesses are envisioned to bolster the growth of global nebulizer market over the forecast period i.e. 2017-2024
Regionally, the global nebulizer market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East & Africa regions. Among these regions, North America nebulizer market grabbed major market share in 2016 and is expected to continue its dominance over the forecast period. Chronic obstructive pulmonary diseases are becoming very common amongst the American population. In 2014, 5.7 million Americans were diagnosed with chronic obstructive pulmonary diseases. Further, rising prevalence of chronic obstructive pulmonary diseases such as airflow blockage and breathing-related problems are major driver of the North America nebulizer market.
Apart from North America, Europe nebulizer market is envisioned to witness robust growth during the forecast period. According to British Lung Foundation, someone dies from lung disease in the UK every 5 minutes. High prevalence of lung diseases in Europe region is projected to drive the growth of nebulizer market in this region over the forecast period.CLICK TO DOWNLOAD FREE SAMPLE
Further, global nebulizer market is segment by product type into ultrasonic nebulizer, compressor nebulizer, mesh nebulizer, portable nebulizer, pediatric nebulizer and accessories. Among these segments, compressor nebulizer segment is anticipated to grow significantly over the forecast period due to its ability to offer a range of particle sizes and high durability.
Our in-depth analysis has segmented global nebulizer market into the following segments:
Global nebulizer market is further classified on the basis of region as follows:
Growing incidences of lung related disease such as asthma, lung cancer, influenza and others along with rising old age population across the globe is anticipated to flourish the growth of nebulizer market. Further, growing awareness regarding respiratory diseases is also projected to bolster the market of nebulizer in upcoming years. Apart from this, high penetration of lung diseases in geriatric population is a major reason which is augmenting the demand for nebulizers.
Rising demand for advanced healthcare device to cure various respiratory related diseases is projected to foster the growth of nebulizer market. Moreover, continuous advancements in healthcare products are also believed to spur the growth of nebulizer market. Apart from this, occurrence of lung diseases in children less than 15 years is augmenting the growth of nebulizer market across the globe.
Increasing geriatric population across the globe and rising exposure to smoke & chemicals are envisioned to augment the incidence of respiratory diseases. Apart from this, smoking is a very common cause of respiratory disease in North America. Moreover, increasing adoption of unhealthy lifestyle and increasing number of respiratory diseases such as chronic obstructive pulmonary disease (COPD) is boosting the demand for nebulizers across all regions.
However, high reliability on electric source and chances of infection due to long term use of nebulizers are projected to limit the growth of global nebulizer market in near future.
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