Nebulizers Market Size Worth USD 1,629.7 Million By 2027 at 7.32% CAGR | Global Market to Capture Traction In the Wake of the COVID-19 Pandemic
Pune, India, June 08, 2021 (GLOBE NEWSWIRE) — Nebulizers Market Overview:
As per Market Research Future (MRFR), the Nebulizers Market is appraised to have a value of USD 1,629.7 Million by 2027 and is anticipated to record a CAGR of 7.32% in the upcoming period. Nebulizers are a device that can change a medication from a fluid into a mist so that it can be huffed into the lungs. The use of nebulizers as treatment or breathing therapy is estimated to gain momentum in the coming period. The use of the device to deliver the same kind of medication as metered-dose inhalers (MDIs), which are the familiar pocket-sized inhalers is estimated to gain favor in the coming period with the current pandemic. Nebulizers may be simpler to use than MDIs, particularly for children who aren’t old enough to correctly use inhalers or adults with acute asthma. Health insurance guidelines in several countries currently cover nebulizers under their durable medical equipment section, but it is being revised in several countries seeing the current scenario.
The elevated demand for respiratory devices, such as nebulizers, due to the occurrence of COVID-19 globally, mounting need for rescue medication, the prevalence of respiratory diseases, and intensifying need for home healthcare devices are the crucial factors that are anticipated to push the nebulizer market growth. Furthermore, the rising geriatric population, increasing consumption of alcohol, cigarettes, and other such products are likely to cause respiratory diseases, and the increasing number of initiatives taken by the government as well as the private businesses are also anticipated to lift the nebulizer market growth. High demand for home healthcare devices especially in pandemic-induced lockdowns is estimated to motivate the nebulizer market share in the coming period. AireHealth, a Florida-based startup is looking into an opportunity to help patients interact with a physician quicker and stick to their medications. The digital health startup is in the process of progressing a linked nebulizer to help patients track medication adherence and take notice of what activates their symptoms. The startup is presently working to get FDA permission for a connected type of device.
The mesh segment in the nebulizer market is estimated to gather considerable traction in the forecast period. The jet segment is projected to develop as a notable market segment due to its low expenditure as compared to other kinds of nebulizers. The disposable nebulizers are projected to expand their share owing to their rising popularity amongst the users. The portable nebulizer market is anticipated to develop at the fastest CAGR due to its ease and convenience of use. The hospitals and clinics segment is expected to hold a major market share due to the greater patient footfall in hospitals. With 1,800 contributors, the AstraZeneca COVID-19 vaccine test at Henrico-based Clinical Research Partners is the largest investigation in the world for the vaccine. Nowadays, researchers are initiating a new study to aid in combating the COVID-19 virus. The ACTIVE-2 study will emphasize potential COVID-19 therapies that are reliable and effective in treating indications of the virus. The analysis, now in phases 2 and 3 of trials, is backed by the National Institute of Health and National Institute of Allergy and Infectious Diseases.
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The distinguished companies in the nebulizers market are:
- Koninklijke Philips N.V. (Netherlands)
- Invacare Corporation (US), PARI (US)
- GF Health Products, Inc. (US)
- Vectura Group plc (UK)
- Rossmax International Ltd (Taiwan)
- Briggs Healthcare (US)
- Beurer GmBH (Germany)
- OMRON Healthcare (Japan)
- Agilent Technologies, Inc. (US)
- Drive DeVilbiss Healthcare (US)
- B. Braun Melsungen AG (Germany)
Browse In-depth Market Research Report (90 pages) on Nebulizers: https://www.marketresearchfuture.com/reports/nebulizers-market-9586
BetterLife Pharma has started developing a product development roadmap for its psychedelic products, which includes AP-003 coronavirus nebulizer and AP-001 cream. The device will be subjected to health regulatory approvals. BetterLife has also stated it is also taking into account AP-003 trials in COVID-19 patients in 1Q-2Q of 2021 in ex-North American regions, using formerly manufactured AP-003.
The Road Ahead
The Americas regional market is estimated to lead the nebulizers market in the coming period. The rising prevalence of respiratory disorders and favorable reimbursement schemes in the region is expected to drive the nebulizers market growth. Furthermore, growing awareness regarding nebulizers amongst the people is also projected to back the market progress. The nebulizers market in the European region held the second principal position in 2018 due to the developing geriatric population. Furthermore, intensifying demand for technologically progressive devices in the region is also anticipated to lift the nebulizers market expansion. The Asia Pacific nebulizers market is the fastest increasing regional market due to the intensifying number of respiratory disorder cases. The regional market in the Middle Eastern and African regions for nebulizers is expected to show fixed growth owing to the increasing problem of respiratory diseases.
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The untapped potential of the nebulizer market is estimated to be unleashed in the forecast period, with more companies diversifying in terms of the products and their offerings. The National Institute of Pharmaceutical Education and Research (NIPER), Hyderabad, India is working with supervisory authorities to get endorsement for a nebulizer-based inhalation therapy it has created for use in COVID patients. The inhalation therapy for fighting COVID-19 is very efficient. The company is working with regulatory authorities to get authorization. The development in trade policies is estimated to support the nebulizer market. The Central Drugs Standard Control Organization (CDSCO) in India has made it compulsory for importers and producers to take a license from the State Licensing Authority or Central Licensing Authority for the import and production of nebulizers, digital thermometers, BP monitoring devices, and glucometer with effect from January 1, 2021.
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