The global nebulizers market is currently dominated by four major players. The cumulative share of these companies, namely, Philips Healthcare, GF Health Products, Omron Healthcare, and PARI Respiratory, totaled 70% in 2012, rendering a highly oligopolistic vendor landscape for the market, finds Transparency Market Research (TMR) in a new study. Despite the consolidated landscape, fierce competition exists among the leading players to emerge dominant in the global market.
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“With the leading companies adopting strategies for mergers and acquisitions, smaller firms are increasingly finding it difficult to sustain their market share,” said a lead TMR analyst. “However, efforts by the existing players and the entry of new firms are expected to elevate the competitive rivalry in the market,” he added. TMR thus forecasts the competitive rivalry in the global nebulizers market to remain high during the course of the forecast period from 2013 to 2019.
The global nebulizers market is projected to exhibit a CAGR of 6.5% between 2013 and 2019. At this pace, the market is projected to reach US$937.7 mn before 2019 ends, from a valuation of US$610.0 mn in 2012. The mesh nebulizer segment will register the highest pace of gains at 7.0% CAGR between 2013 and 2019. Regionally, Asia Pacific will record the most rapid gains averaging 7.4% CAGR during the forecast period.
High Prevalence of Chronic Ailments Creates Lucrative Prospects in Developed Regions
The demand from the global nebulizers market is projected to surge in response to the increasing prevalence of chronic ailments. The rising incidence of diseases such as cystic fibrosis, asthma, and COPD has been a serious concern across developed regions for the past many years now. As per the Center for Disease Control and Prevention, North America witnessed the highest number of COPD and asthma cases in the world in 2012.
In addition, the U.S. Cystic Fibrosis Foundation has identified Europe as the region witnessing the highest prevalence of cystic fibrosis in 2012. Since nebulizers are preferred choice for the treatment of the aforementioned conditions, their demand is likely to surge at a robust pace over the next few years. Since geriatric population are more vulnerable to these conditions, a rise in their number will serve well for creating opportunities for the global nebulizers market.
Chances of Drug Loss to Decelerate Pace of Gains
The pace of gains for the global nebulizers market will however decline due to the chances of drug loss during delivery. Despite being designed to efficiently deliver drugs, a few fundamental faults increase the chances of drug loss when using nebulizers. For instance, the chances of drug inactivation exist when using ultrasonic nebulizers. Mitigating this concern can help the market witness strong growth in the near future.
Presence of High Patient Pool Make Emerging Economies Attractive for Smaller Firms
Emerging economies in Asia Pacific present lucrative opportunities for the market’s growth. Currently, prospects in India, China, South Korea, and Japan are considered more attractive for enterprises operating in the Asia pacific nebulizers market. Besides exhibiting huge potential for the sale of advanced medical devices such as inhalers and nebulizers, they also exhibit a high presence of patient pool suffering from various chronic ailments. Focusing on developing nations will thus help even the smaller firms in the global nebulizers market record high growth.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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