Nebulizer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The global nebulizer market is expected to grow with an CAGR of 6.45% during the forecast period of 2021-2026.
The COVID-19 pandemic is expected to have a significant impact on the market. There has been an increased use of albuterol inhalers in hospitals for COVID-19 and suspected COVID-19 patients to help with their respiratory issues. This is mainly because respiratory viruses are the most common trigger for asthma complications and nebulizers help to provide relief. Furthermore, older people are more vulnerable to respiratory diseases, such as chronic obstructive pulmonary disease (COPD), sleep apnea, and the COVID-19, due to many factors, including the gradual decline of immune function. Most of the patients affected with COVID-19 are elderly. According to the American Lung Association (ALA) in 2020, nebulized therapy is a safe and effective way to manage COPD at home for patients during COVID-19. Thus, this has led to the growing demand for nebulizers.
There are certain factors that are driving the market growth, including rising incidences of chronic respiratory diseases, increasing demand for home healthcare devices, and rising geriatric population base.
Chronic respiratory diseases are diseases that affect the airways and other parts of the lungs. Respiratory symptoms are among the leading causes of consultation with doctors and physicians in primary healthcare centers. Some of the major preventable chronic respiratory disorders are asthma, chronic obstructive pulmonary disease (COPD), allergic rhinitis, sleep apnea, and tuberculosis (principally, multi-drug resistant tuberculosis). Tobacco smoking is one of the primary causes of the increase in respiratory diseases across the world. Another reason for the increased prevalence of respiratory diseases is the excessive environmental pollution in metropolitan cities and industrial lands. In addition, second-hand smoke exposure leads to severe respiratory diseases. Chronic respiratory diseases affect more than 1 billion people globally, as per the Global Asthma Report, 2018. In addition, as per the Global Tuberculosis Report 2019, the incidence of TB in low-income regions was higher during 2018, whereas in the developed regions, it was comparatively low. The report suggested that the incidence of TB in Africa was around 2,450,000, whereas, in the Americas, it was 289,000. The rising respiratory diseases and other respiratory diseases, such as pneumonia and lung cancer, have been the major causes for the rise in hospitalization rates, especially in the low- and middle-income countries. According to the International Agency for Research on Cancer published Globocan 2020 report, the total number of new lung cancer cases in the year 2020 was 2 206 771. This high incidence of lung cancer is increasing disease burden. This has led to an increase in demand for nebulizers.
Pneumatic nebulizer has the potential to deliver the drug in the form of droplets in the size range of 1-5 mm, with the help of baffles incorporated into its design. These nebulizers are mostly used for bronchodilator administration to produce a physiological response. Both technical and patient factors are involved in the performance of pneumatic nebulizers. Technical factors, like the gas flow used to power the nebulizer, the volume of the nebulizer solution, and the nebulizer output, play a crucial role in better drug delivery. The condition of the patient is also crucial for effective drug delivery by the pneumatic nebulizers. Factors, like the breathing patterns, airway obstruction, and positive pressure delivery of the patient, determine the performance of the pneumatic nebulizers. Hence, the low cost of pneumatic nebulizers is also driving its demand among end-user settings. This, in turn, is expected to drive the pneumatic nebulizer segment over the forecast period.
Moreover, the rising adoption of pneumatic nebulizers due to their convenience and effectiveness is expected to influence the growth positively. According to the study of Analytica Chimica Acta, in 2020, a pneumatic nebulizer was used for introducing metallic, ionic meta calibrant solutions and nanoparticles. These factors are expected to boost market growth.
The North American nebulizer market is growing, due to the continuous innovations in technology. As the population in the region follows a fast-moving lifestyle, patients are looking for more portable nebulizer devices that can be transferred easily in time of need for patients suffering from asthma and other airway diseases. The United States is the largest market in the North America region.
The burden of respiratory diseases, such as tuberculosis, COPD, and sleep apnea, is increasing in the United States, which is fueling the demand for nebulizers across the country. According to the Centers for Disease Control and Prevention (CDC), in 2019, an estimated 25,131,132 million Americans had asthma, including 8% of adults and 7% of children. The statistics represented a large number of people who were suffering from asthma, which propels the demand for nebulizers in the country.
Moreover, several mergers, acquisitions, partnerships, and product launches by the market players also positively influence overall market growth. For example, in June 2020, Respira Technologies announced the launch of a pharmaceutical-focused commercial development program for its RespiRx drug-delivery device platform which is a portable, handheld vibrating mesh nebulizer. Additionally, in June 2020, the company Renovion had raised USD 8.1 million in funding for the clinical development of ARINA-1 (ascorbic acid), which is an experimental nebulizer therapy to clear mucus and reduce inflammation in people with non-cystic fibrosis bronchiectasis and cystic fibrosis. These factors are expected to boost the growth of Nebulizer market in the United States.
The nebulizer market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. However, various strategies, such as mergers and acquisitions, product approvals, and agreements, are being adopted by these key market players to increase the outreach of their products and strengthen their product portfolios. Some of the market players are Agilent Technologies, VYAIRE MEDICAL, INC, Drive DeVilbiss Healthcare, Rossmax International Ltd., and GF Health Products Inc.