The market size of the Global Oxygen and Aerosol Delivery Devices Market in the year 2021 is valued at 39.24 billion and is predicted to reach 69.32 billion by the year 2030 at 6.8% CAGR during the forecast period.
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The hand-held, portable medicine delivery devices are known as oxygen and aerosol delivery devices. They are made up of solid or liquid particles suspended in a carrier gas, allowing for treating respiratory and non-respiratory disorders. Medications are available in various formats for aerosol medication delivery, including dry powder, solution, and suspension. It is the most advanced method of drug administration, in which an aerosolized medication is administered directly to the lungs, resulting in a systemic effect. The rise in the prevalence of asthma, COPD, and other respiratory disorders, as well as the increase in the smoking population, ease of drug administration with aerosol delivery devices, demand for metered-dose inhalers, technological advancements in inhaler devices, and the rise in the geriatric population, are all driving the global oxygen and aerosol delivery devices market forward. The increase in the prevalence of asthma, COPD, and other respiratory disorders, the rise in the smoking population, the ease of administering drugs with aerosol delivery devices, the augmented demand for metered-dose inhalers, and technological advancements in inhaler devices are the key factors driving the global oxygen and aerosol delivery devices market. Other factors contributing to market expansion include an increase in the number of R&D efforts to develop optimum inhalation therapy. However, problems and adverse effects associated with medicine inhalation and the expensive cost of nebulizers are projected to stifle market expansion.
List of Prominent Players in the Oxygen and Aerosol Delivery Devices Market:
Medline Industries, Inc.
Salter Labs Inc.
Vygon SA
Smiths Medical, Inc.
Medicoplast International GmbH
Purple Surgical
Pennine Healthcare
Besmed Health Business Corp.
Intersurgical Ltd
Braun Melsungen AG
ConvaTec Inc.
Flexicare Medical Ltd.
GaleMed Corporation
PARI GmbH
Polymedicure
Teleflex Incorporated
HSINER CO., LTD.
ASID BONZ GmbH
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Market Dynamics:
Drivers-
The global pandemic of the coronavirus has resulted in a surge in demand for respiratory care devices. The high incidence of respiratory disorders as a result of rapid growth in the worldwide elderly population, high prevalence of cigarette smoking, urbanization and rising levels of pollution, and changing lifestyles are the primary factors driving the market’s expansion. However, issues such as an unfavourable reimbursement scenario and the availability of low-cost items from local manufacturers are projected to limit this market’s growth over the projection period.
Challenges:
To receive therapy, many patients rely on reimbursements. The diagnostic sector as a whole and respiratory care diagnostics, in particular, are currently dealing with a shortage of reimbursements for numerous diagnostic tests. In Europe, reimbursement rules are distributed, and in certain countries, reimbursement plans are only accessible for PAP devices and oral appliances (devices that are not covered by insurance have a low market share in the region). Furthermore, the majority of Asian and RoW countries provide minimal reimbursement coverage for respiratory care devices. Respiratory disorders like asthma and COPD are under-diagnosed and under-treated, which is a significant concern. This is especially true in underdeveloped countries due to a lack of knowledge and resources to diagnose these diseases.
Regional Trends:
The Asia Pacific is projected to increase at a high rate. Due to the large population base susceptible to asthma and COPD, increased public awareness of the use and benefits of these devices, affordability of medical devices, development of the R&D sector, rise in healthcare reforms, and technological advancements in aerosol delivery devices products, it presents lucrative opportunities for key players operating in the oxygen and aerosol delivery devices market. In addition, rising demand for inhalers and nebulizers, as well as rising demand for home healthcare equipment, all contribute to market growth. Furthermore, prominent manufacturers are focusing more on expanding their geographical presence in emerging Asia-Pacific countries in order to capture a substantial share of the oxygen and aerosol delivery market.
Recent Developments:
- In Dec 2021, Pulmotect announced favorable findings from PUL-042’s second randomized, placebo-controlled Phase-2 study versus COVID-19. In addition to possible effectiveness against all SARS-CoV-2 variants, patients treated with inhaled PUL-042 showed favorable efficacy signals for COVID-19 prophylaxis and therapy, improved respiratory symptoms, and fewer critical care unit hospitalizations.
- In June 2021, Teleflex Incorporated finalized its previously announced sale of a substantial piece of its Respiratory business to Medline Industries, Inc. (“Medline”). Hudson RCI® devices for oxygen and aerosol treatment, active humidification, non-invasive ventilation, and incentive spirometers are among the Teleflex respiratory product lines that have been sold, with a combined sale of $139 million in 2020.
Segmentation of Oxygen and Aerosol Delivery Devices Market-
By Product
- Oxygen Masks
- Nasal Cannulas/ Oxygen Catheter
- Oxygen Connecting Tube
- Venturi Masks
- Non-rebreather Masks
- Reusable Nebulizer
- Disposable Nebulizer
- Other Oxygen Delivery Devices
By Application
- COPD
- Asthma
- Cystic Fibrosis
- Respiratory Distress Syndrome
- Pneumonia
- Other Diseases
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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