The World Health Organization (WHO) estimates that chronic obstructive pulmonary disease (COPD) caused nearly 3.23 million deaths in 2019. Of these, approximately 80% of the fatalities occurred in low- and middle-income countries (LMICs). As per the organization, COPD is the third-leading cause of global deaths. Individuals suffering from COPD use nebulizers to get some relief; thus, the escalating cases of COPD will propel the adoption of nebulizers in the foreseeable future.
Moreover, the soaring healthcare expenditure will help the nebulizer market grow at a CAGR of 7.4% during the forecast period (2020–2030). The market revenue is projected to increase from $765.1 million in 2019 to $1,698.1 million by 2030. According to the World Bank, 9.85% of the global gross domestic product (GDP) was spent on healthcare in 2018. Additionally, the booming aging population will catalyze the market growth as this age pool is highly susceptible to respiratory diseases due to its weakening immune system.
Nowadays, clinics, emergency centers, and hospitals and ambulatory surgical centers are using portable and stand-alone nebulizers for people suffering from various respiratory diseases. In the coming years, portable nebulizers will be adopted at the faster pace due to the mounting geriatric population and burgeoning demand for convenient treatment. Portable and non-portable pneumatic, mesh, and ultrasonic nebulizers are being used by end users to offer relief to their patients. Among these variants, pneumatic nebulizers will be used at the highest rate in the foreseeable future due to their durability, better dosage control, lower drug wastage, and particle size flexibility.
Whereas, the Asia-Pacific (APAC) nebulizer market is expected to demonstrate the fastest growth during the forecast period due to the booming demand for generic nebulizable drugs, soaring population of tobacco smokers, mounting air pollution levels, and escalating healthcare expenditure in the region. India, China, and Japan have a vast population of cigarette smokers, owing to which the region is witnessing an extensive surge in the cases of respiratory diseases, thereby augmenting the demand for nebulizers.
Thus, the rising incidence of respiratory diseases and mounting healthcare expenditure will propel the usage of nebulizers.
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