Nebulizer Market to Touch $1,778.8Million by 2027; Outbreak of the COVID-19 Infection to Heighten the Demand for Nebulizer in 2020

The global Nebulizermarket size is projected to reach USD 1,778.8million by 2027, exhibiting aCAGR of 8.1% during the forecast period. Increasing prevalence of respiratorydisorders around the world will be the prime growth propeller for this market,shares Fortune Business Insights™ in its new report, titled “Nebulizer Market Size, Share & COVID-19Impact Analysis, By Type (Jet Nebulizer, Ultrasonic Nebulizer, and MeshNebulizer) By Modality (Portable, and Table-top) By End User (Hospitals,Clinics, and Homecare Settings), and Regional Forecast, 2020-2027”. TheWorld Health Organization (WHO) states that respiratory diseases are the foremostcause of death and disability worldwide. According to its estimates, chronicobstructive pulmonary disorder (COPD) afflicts around 65 million and kills 3million people every year. Similarly, pneumonia also kills millions of peopleannually and is the leading cause of mortality among children under 5 years ofage. Furthermore, WHO data indicates that lung cancer is the deadliest cancer,killing 1.6 million people every year. Nebulizer play a key role in managingthese chronic and potentially fatal lung disorders and as the incidence ofthese disorders grows, the demand for Nebulizer will continue to surge.

An Overview of the Impact of COVID-19 on this Market:

Theemergence of COVID-19 has brought the world to a standstill. We understand thatthis health crisis has brought an unprecedented impact on businesses acrossindustries. However, this too shall pass. Rising support from governments andseveral companies can help in the fight against this highly contagious disease.There are some industries that are struggling and some are thriving. Overall,almost every sector is anticipated to be impacted by the pandemic.

Weare taking continuous efforts to help your business sustain and grow duringCOVID-19 pandemics. Based on our experience and expertise, we will offer you animpact analysis of corona virus outbreak across industries to help you preparefor the future.

Clickhere to get the short-term and long-term impact of COVID-19 on this [Market].

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Market Opportunity

Rapid Transmission of the COVID-19Infection to Create Immediate Growth Opportunities

TheSARS-CoV-2 infection attacks the respiratory tract and lungs, causing shortnessof breath, acute breathing problems, and pneumonia, along with a persistentfever and cough. People with preexisting lung disorders such as asthma are athigh risk of contracting the COVID-19 infection. According to the Centers forDisease Control and Prevention (CDC), asthma patients are highly recommended tocarry inhalers or portable Nebulizer with them as these devices can efficientlyopen the lungs and allow them to function normally. In this scenario, theuptake of inhalable drug delivery devices is likely to spike and favor theNebulizer market growth. The only worry with these devices, as pointed out bythe Asthma and Allergy Foundation of America, is their potential to transmitthe infection among patients as well as healthcare workers, especially inhealthcare facilities. If this issue is addressed, players can capitalize onthe current pandemic and expand their presence in the market.

Regional Analysis

Strong Healthcare Infrastructure toSupport Market Growth in North America

NorthAmerica boasted a market size of USD 308.4 million in 2019 and the region islikely to lead the Nebulizer market share during the forecast period. This ischiefly attributable to the presence of a robust healthcare infrastructure andpatient-friendly reimbursement policies. In addition to this, escalating numberof COVID-19 cases in the US will skyrocket the demand for Nebulizer andinhalers in 2020. Similar trends are expected to be observed in Europe. On theother hand, the market is Asia-Pacific is slated for steady expansion owing tothe proliferation of medical device companies and rising prevalence of chronicrespiratory disorders.

Competitive Landscape

Key Players to Focus on LaunchingInnovative Products

Competitionin this market is dominated by the presence of a few large companies, who areengaged in developing novel products to cater to the changing needs and demandsof patients. The smaller players are strengthening their finances and exploringnew avenues to establish themselves in this market.

Industry Developments:

October 2018: Philips introduced its lightest andsmallest portable on-the-go nebulizer, InnoSpire Go, in North America. Theinnovative solution delivers medication quickly and accurately, reducestreatment time by 25%, operates silently, and has hospital-grade features.

March 2018: The US-based medical technologycompany, Convexity Scientific, launched its portable, silent, and next-gennebulizer FLYP. Featuring an all-in-onedesign, the device can be used at home or in outside healthcare facilities totreat chronic pulmonary disorders such as asthma effectively.

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