Nebulizer Market Size, Share and Growth Report, 2019 to 2026

by Susan Hill Business Consultant

The global nebulizer market size is expected to reach USD 1.44 billion by 2026, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 6.5% during the forecast period. Rising incidence of chronic respiratory diseases, increasing demand for home healthcare, and rising geriatric population are the key factors driving the growth.

Home healthcare devices have been gaining popularity in recent years. Miniaturization of products and technological advancements are boosting the adoption of home healthcare devices. Furthermore, growing geriatric population, high incidence of chronic respiratory diseases, and need to curb healthcare expenditure are expected to be some of the high-impact rendering drivers for nebulizer market. Home healthcare is a cost-effective alternative to expensive hospital stays, which is expected to boost the nebulizer market. Easy availability of compact nebulizers that are ideal for home use coupled with technological innovations to reduce the sound and to improve their functionality are increasing their adoption in home healthcare.

Rising geriatric population across the globe is anticipated to increase the usage of respiratory care devices over the forecast period. For instance, as per the World Health Organization (WHO), the global elderly population is expected to increase from 841.0 million in 2014 to more than 2.0 billion in 2050. Elderly people are susceptible to respiratory diseases such as Chronic Obstructive Pulmonary Disease (COPD) and sleep apnea, thus rise in geriatric population is anticipated to propel the nebulizer market growth.

Further key findings from the report suggest:

In terms of revenue, pneumatic nebulizer segment led the nebulizer market in 2018. Factors such as high prevalence of respiratory disorders in aging population are expected to boost the demand
Mesh nebulizer segment is expected to witness the fastest growth over the forecast period. Increasing geriatric population across the globe and preference for home healthcare are expected to surge the segment growth over the forecast period
Asia Pacific is expected to witness the fastest growth over the forecast period owing to the increasing number of hospitals and clinics coupled with rising healthcare expenditure
Prominent market players are Omron Corporation; Koninklijke Philips N.V.; PARI Pharma; and Allied Healthcare Products, Inc. These players are adopting strategies such as product launches and mergers and acquisitions to increase their market share

Grand View Research has segmented the global nebulizer market on the basis of type and region:

Nebulizer Type Outlook (Revenue, USD Million, 2015 - 2026)