Within less than a year of being detected in December 2019, the novel coronavirus (COVID-19) had infected more than 38 million and killed over a million people till mid-October 2020, and both these counts are rising with every passing day. This has crippled the global healthcare sector, with inventories of everything, from testing kits and syringes to beds and ventilators, depleting fast. Thus, governments are making an all-out effort to procure all the necessary stuff to make patients comfortable and treat them.
As per P&S Intelligence, due to the havoc being wreaked by the COVID-19 pandemic, the nebulizer market will witness steady growth, from $765.1 million in 2019 to $1,698.1 million by 2030, at a 7.4% CAGR between 2020 and 2030. Nebulizers are used to aerosolize medication, so that it can be delivered straight into the lungs, via the nose. There are three main types of nebulizers available: mesh, pneumatic, and ultrasonic, among which people are most likely to be treated with a pneumatic variant.
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The major reasons for the increasing incidence of chronic respiratory diseases are smoking, air pollution, and genetic factors. Highlighting the big issue that air pollution has become, the WHO says, “Air pollution kills an estimated seven million people worldwide every year.” With the increasing consumption of fossil fuels at power plants, houses, industries, and automobiles, a rising amount of GHGs is being released into the atmosphere, choking up people’s lungs, taking their lives.
In the years to come, the fastest growth in the nebulizer market is set to be witnessed in the Asia-Pacific (APAC) region. Regional cities are some of the most polluted on earth, with an air quality index (AQI) of more than 200 becoming an almost-everyday occurrence in Delhi. Furthermore, as per the WHO, more than 70% of COPD deaths take place in low- and middle-income countries, a lot of which are in APAC. To make matters worse, India, China, and Japan are home to a large population of smokers, which also increases the prevalence of respiratory diseases.
Therefore, with the increasing cases of COVID-19 and other lung diseases, the demand for nebulizers will pick up.
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