Categories: Market Research

Nebulizers Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Nebulizers by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Nebulizers, The nebulizers market size has grown strongly in recent years. It will grow from $1.16 billion in 2023 to $1.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to increased incidence of chronic respiratory diseases, rising healthcare expenditure in emerging economies.

The nebulizers market size is expected to see strong growth in the next few years. It will grow to $1.72 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to increasing geriatric population, increasing demand for the home healthcare devices such as portable devices, increased acceptance of mesh nebulizers, growing prevalence of covid-19 across the globe, and increased consumption of tobacco and alcohol. Major trends in the forecast period include developing connected nebulizer, focusing on development of light weight portable nebulizers and to focus on vibrating technology to develop new nebulizers and take initiatives to develop products from environmentally friendly products.

The rising geriatric population across the globe is expected to increase the usage of respiratory care devices including nebulizers over the forecast period. For instance, according to the World Health Organization (WHO), by 2050, the world’s population aged 60 years and older is expected to total 2 billion, up from 900 million. According to the United Nations, in 2020, the global population of a person aged 65 years and older was estimated to be 727 million and this number is projected to nearly double to over 1.5 billion in 2050. Elderly people are more susceptible to respiratory diseases such as Chronic Obstructive Pulmonary Disease (COPD), sleep apnea, and the recent pandemic COVID-19 for many factors including the gradual decline of immune function. Therefore, a rise in the geriatric population is anticipated to propel the growth of nebulizers market.

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The nebulizers market covered in this report is segmented –

1) By Type: Pneumatic Nebulizer, Ultrasonic Nebulizer, Mesh Nebulizer

2) By Portability: Portable Nebulizer, Tabletop Nebulizer

3) By Application: COPD, Cystic Fibrosis, Asthma, Other Applications

4) By End Use: Hospitals and Clinics, Emergency Centers, Home Healthcare

Major companies operating in the nebulizers market are receiving FDA approvals for devices such as Smart Nebulizers to increase their profitability in the market. Smart nebulizers are nebulizer devices that use digital technology to enhance how aerosol drugs are delivered to the lungs. For instance, June 2022, Vectura Group Limited, a UK-based pharmaceutical company announced that it received FDA approval for its Smart Nebulizers to enhance pediatric asthma treatment. The smart nebulizers have the ability to effectively distribute the aerosol to the lungs while taking the patient’s particular breathing capacity into account. The smart nebulizers may be used to treat respiratory conditions including asthma, bronchitis, sore throats, and both acute and chronic tracheitis.

The nebulizers market report table of contents includes: