The nebulizers market was valued at US$ 815.88 million in 2023 and is expected to reach US$ 1315.57 million by 2031; it is estimated to record a CAGR of 6.2% during 2023-2031.

Key factors driving the market growth are the rising prevalence of chronic respiratory diseases and increasing demand for respiratory devices for home care settings are driving the growth of the market. However, the lack of early diagnosis and the high cost of nebulizing therapy hinder the nebulizers market growth.

Market Trends of the Nebulizers Market

Changes in nebulizer technology are driven by clinical needs and the development of new pharmacological agents, which require special techniques and performance characteristics. Due to strong economic pressures to optimize the delivery of newer medications, the development of innovative delivery devices, such as transmucosal drug delivery systems for nebulization therapies, has upscaled. With new medical knowledge and effective medicines, treatment with a wide range of nebulizers continues to advance. These advancements in nebulizer technology have led to the creation of mesh nebulizers that use micropump technology to produce aerosols. In addition to the numerous advantages of nebulizers, the growing number of product approvals and developments will likely strengthen the demand in the coming years. As per company press releases, a few major developments and approvals are listed below:

In July 2021, HCmed Innovations received US Food and Drug Administration (FDA) approval for Pulmogine Vibrating Mesh Nebulizer. It uses HCmed's advanced technology to convert liquid medication into tiny aerosol particles that can be directly delivered to the airways, relieving respiratory disease discomfort. Additionally, the device is portable and easy to use, making it a convenient solution for patients who require inhalation treatment.

In June 2020, Respira Technologies, Inc. launched its RespiRx drug delivery device platform. This novel platform is an ultra-portable handheld vibrating mesh nebulizer (VMN) for local and systemic treatment for various indications, including asthma and COPD. RespiRx offers a pre-filled cartridge that contains a disposable piezo element and the drug compound suspended in an aqueous solution. This format is designed for patients' convenience, eliminating errors and misuse due to improper cleaning. The cartridge is programmable to deliver precise doses and comes equipped with Bluetooth technology to track dose delivery, measure data, and collect electronic medical records for healthcare providers.

Therefore, such technological advancements by various market players and product approvals are anticipated to bring new nebulizers market trends in the coming years.

Nebulizers Market: Segmental Overview

The nebulizers market is segmented on the basis of type, application, and end- user.

By type, the market is segmented into jet nebulizers, ultrasonic nebulizers, and mesh nebulizers. The jet nebulizers segment held the largest market share in 2022. The Mesh Nebulizers segment is projected to register the highest CAGR from 2023 to 2031. Jet nebulizers are affordable and easy-to-use devices that deliver medication in the form of aerosol. They are designed for one-time use, eliminating the need for sterilization and reducing contamination risk. Jet nebulizers are commonly used during mechanical ventilation. The various application of these nebulizers in treatment of CRD is propelling the jet nebulizers market size during the forecast period.

The market, by application, is segmented into COPD, asthma, cystic fibrosis, and others. The COPD segment is anticipated to hold the largest nebulizers market share in 2023. The asthma segment is projected to grow with the highest CAGR from 2023 to 2031. People with COPD are at increased risk of developing heart disease, lung cancer and a variety of other conditions. According to the World Health Organization (WHO), COPD is the third leading cause of death globally. The demand for inhalation therapies is also increasing with the increase in the burden of respiratory diseases. Additionally, the shift in preference for home care treatments fuels the utilization of handheld nebulizers for the management of COPD and asthma.

Based on end- user, the nebulizers market is segmented into hospitals and clinics, emergency centers, and home care settings. The hospitals and clinics segment held the largest share of the market in 2023 and is expected to register the highest CAGR from 2023 to 2030 owing to the medical availability of various types of nebulizers and the growing adoption rate of these devices in hospital settings.

Nebulizers Market: Geographical Overview

The scope of the global nebulizers market report entails North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). North America held a major nebulizers market share in 2023, followed by Europe; the market in Asia Pacific region is growing with the highest CAGR during the forecast period. This is attributed to developing healthcare infrastructure in emerging markets, rising healthcare expenditure, lucrative reimbursement policies, and increasing emphasis on better patient outcomes in the region.