Albany, NY, May 05, 2016 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research “Nebulizers Market - India Industry Analysis, Size, Share, Growth, Trends, Volume, and Forecast 2015 - 2023” the India nebulizers market was valued at INR 575.6 million in 2014 and is estimated to reach a market worth of INR 4,703.4 million in 2023 growing at a CAGR of 25.8% from 2015 to 2023.
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A nebulizer is an electrically powered or battery operated instrument that converts liquid medication into mist or aerosol. Nebulizer is one of the preferred choices for the treatment of asthma, cystic fibrosis (CFTR) and COPD (chronic obstructive pulmonary disease). Increasing prevalence of various respiratory disorders such as asthma, COPD and CFTR coupled with rising geriatric population drives the growth of the nebulizers market in India. Prevalence of asthma, cystic fibrosis, and COPD is increasing significantly across the country. Exact cause for asthma and cystic fibrosis is unknown; however, the risk factors include hereditary conditions (passed from generation to generation) and environmental pollution (UV ray, chemical irritant). It was also observed that nebulizers are being introduced for treating conditions such as diabetes, cancer, and migraine.
The introduction of liquid-based inhalers (LBIs), such as nebulizers, in these areas is expected to increase awareness among physicians and patients substantially, thereby prompting greater use. These therapeutic areas have tremendous potential for non-invasive drug delivery technology and the late entry of nebulizers in the respiratory diseases segment is expected to offset timely entry into the diabetes, cancer, and migraine markets.
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The nebulizers market in India has been broadly segmented on the basis of product type namely: pneumatic nebulizer, ultrasonic nebulizer, mesh nebulizer and nebulizer kits. Pneumatic nebulizers accounted for the largest share of the nebulizers market in India as these are cost effective as compared to ultrasonic and mesh nebulizers. Pneumatic nebulizers also have suitability toward all type of medication making it the most widely used nebulizer type. Loss of medication in spray chamber is one of the important factors that is likely to hamper the segment growth. Ultrasonic nebulizers provide efficient and faster drug delivery compared to pneumatic nebulizers.
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South zone was observed to the second most lucrative market for nebulizer in terms of demand during the forecast period. According to West Bengal's department of environment, 70% of Kolkata's citizen suffer from some form of respiratory disease due to rise in environmental pollution. This acts as a potential driver of the nebulizers market in East Zone. The efficient connectivity of Central Zone to other regions of the country would assist the growth of the nebulizer market during the forecast period.
Additionally, companies are expecting large revenue with sufficient market penetration from India and thereby increase investments in the country. Omron Healthcare, Inc. established a subsidiary in India in 2013 to sell devices for home and professional usage. Major market players include Covidien plc, GE Healthcare Ltd., Omron Healthcare, Inc., Philips Healthcare Ltd., PARI Respiratory Equipment Inc., GF Health Products, Inc., Morepen Laboratories, Nulfe MRK Healthcare Pvt. Ltd), and CareFusion Corporation.
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research