Persistence Market Research (PMR) has recently published a research report titled “Nebulizer Devices Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025).” The report states that the global nebulizer devices market is expected to witness a stable growth in the coming years. Advances in healthcare and the introduction of new drugs has been anticipated to trigger the adoption of nebulizer devices until 2025 end, thus supporting the overall growth of the market.
With technological advances rapidly gaining pace, key players in the market are also rolling up their sleeves in order to sustain in the intensifying market scenario and also to stay ahead of the competition. Companies are investing in research and development of new products and are focusing on mergers, acquisitions, and partnerships.
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For instance, in 2015, two market giants Agilent Technologies Inc. and Thermo Fisher Scientific entered into an agreement for instrument control exchange. This agreement proved to be beneficial with improved productivity and enhanced user experience for customers who were using the instruments and software of both the companies. Many other agreements and exchange partnerships have taken place between several leading firms. Some of the top companies operating in the global nebulizer devices market are Allied Healthcare Products, Inc., CareFusion Corporation, Covidien plc, GE Healthcare, Omron Healthcare, Inc., PARI GmbH, and Koninklijke Philips N.V.
On these grounds, the global nebulizer devices market is expected to expand at 6.6% CAGR from 2017 to 2025. The market is projected to rise to a valuation of over US$ 3,382 Mn by the end of 2025 from a valuation of around US$ 2,033 Mn in 2017.
Growing Incidences of Chronic Diseases to Augur Well for the Market
High prevalence of cystic fibrosis and COPD has been witnessed significantly across the globe. However, the exact cause for asthma and cystic fibrosis is still unknown, but some of the risk factors include hereditary conditions and environmental pollution that lead to chemical irritation. On the other hand, COPD mostly occurs due to cigarette smoking. The American Academy of Allergy Asthma and Immunology stated in 2012 that over 100 million people would suffer from asthma across the world by the end of 2025.
Numerous awareness programs have been initiated by healthcare providers and health organizations and societies across the globe in the form of environmental programs, medication maintenance programs, and online education programs for public and healthcare professionals across the globe to control COPD, asthma, and other respiratory diseases. In this case, healthcare organizations and providers are teaming up to prevent respiratory diseases and improve the condition of the patients by providing them with better services and facilities. AstraZeneca is collaborating with 10 other market giants to prevent and control the spread of respiratory diseases in China. The use of nebulizer devices is expected to increase in the coming years, owing to the increasing instances of chronic diseases across the globe.
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Implementation of Strict Regulations and Drug Loss During Delivery to Hinder Market Progress
Nebulizers are efficient and effective in drug delivery; nevertheless, the prime factor associated with these devices is the loss of the drug during delivery. Pneumatic nebulizers have been foreseen to lose some amount of the drug in the spray chamber during delivery. Ultrasonic nebulizers incorporate the use of ultrasonic waves, which escalates the chances of drug inactivation during delivery. Moreover, ultrasonic waves are harmful to the human body. This factor may negatively impact the growth of the ultrasonic nebulizer devices market. Also, governments across the globe have imposed strict regulations on the approval of nebulizer devices.
So, despite several awareness programs and technological advancements paving the way for a better future for the market, will the sales of nebulizer devices garner sufficient revenue in the long run; and will the market stay unaffected by the regulations imposed is something that remains to be seen.