How is Growing Geriatric Population Driving Nebulizer Market?
According to a report by P&S Intelligence, the global nebulizer market is expected to generate a revenue of $1,698.1 million, increasing from $765.1 million in 2019, progressing at a 7.4% CAGR during 2020–2030. The increasing healthcare expenditure, surging geriatric population, growing air pollution levels, rising cases of respiratory diseases, surging utilization of cigarettes, and easy availability of portable devices are the major factors leading to the expansion of the market.
Since COVID-19 majorly affects the lungs, and hamper the ability to breathe, the demand for nebulizer is further expected to rise. In terms of product type, the nebulizer market is divided into mesh, ultrasonic, and pneumatic, out of which, the pneumatic division held the largest share of the market during 2014–2019. These nebulizers have enhanced features, such as a range of medicine particle sizes, high durability, dosing control, and lesser drug loss. Pneumatic nebulizers are further of two types, namely breath-actuated and vented.
Geographically, North America dominated the nebulizer market in 2019 and is projected to account for the major share of the market in the coming years as well. The increased healthcare expenditure, huge number of people affected by COVID-19, and rising prevalence of other respiratory diseases in the region are driving the demand for nebulizers. In addition to this, players in the region are focusing on launching new products, which is further leading to the growth of the regional domain.
Janna Walker @ on
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