Nebulizers Market – Latest Developments
Medical reimbursement supporting the North America nebulizer market growth
There are guidelines laid for nebulizers which facilitates its proper usage. The Centers for Medicare & Medicaid Services, and United HealthCare Services, Inc. have defined guidelines for the proper usage of nebulizers in different respiratory issues. In addition to that there are various reimbursement policies that fuel the growth of the market, for instance, policies by Medicaid & Healthcare Partnership in 2012 helped in the easy purchase of nebulizers. Under Hawaii Medical Service Association, in 2014, several cover plans were made for the easy purchases of small volume and large volume nebulizers.
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Also, there exists a rental market for nebulizers that assists the usage of these devices in home care settings.
Since nebulization is a spraying technique, therefore the dispersion and wastage of the drug during delivery to the respiratory tract is one of the major restraint for the growth of nebulizers market. Moreover, low consumer switching cost and availability of alternative therapies increases the threat of substitute products.
By geography, North America holds the major share in the global nebulizers market because of the availability of reimbursement and increasing incidence of respiratory diseases.
Key players in the global nebulizers market are GE Healthcare Ltd, Agilent Technologies, GF Health Products, Philips Healthcare CareFusion Corporation, PARI Respiratory Equipment, Covidien plc and Omron Healthcare Co. The players are undertaking various clinical trials and development activities in an endeavor to improve therapeutic effect of the drug. Theravance Biopharma and Mylan announced the initiation of phase 3 studies of revefenacin at the American Thoracic Society (ATS) International Conference in 2017. Revefenacin is a once-daily long acting muscarinic antagonist (LAMA) nebulized therapy. Development of such drugs intended to be delivered via nebulization will also support propelling the growth for nebulizers market. Also Vectura received FDA approval to start testing a smart technology of nebulizers to improve asthma therapies in children.
Nebulizers are drug delivery devices that are used to administer medicines in the form of a mist inhaled into the lungs. This drug delivery method helps in the administration of drugs such as corticosteroids, bronchodilators and anti-inflammatory medications. Nebulizers are mainly used for patients suffering from asthma, cystic fibrosis, chronic obstructive pulmonary disease (COPD) and other respiratory diseases or disorders. It is much comfortable to use than other forms of ingested medicines, as it targets the respiratory area directly, thus reducing side effects and harm to other body organs and cells. Nebulizers are especially used for delivery of drug to breathing passages, reduce bulging of mucous membrane, to reduce irritation caused by pollutants and activate and thin out discharge. These devices are specially developed for adults and children who are not able to handle inhalers.
Product innovation driving the preference for nebulizers in treating respiratory conditions
The advanced nebulizers that features aerosol drug delivery technology with minimal drug wastage is expected to drive the nebulizers market growth. Patients play a vigorous role in supervising their diseases by choosing for devices that assist them in diagnosis and treatment at the comfort of their own homes. This shift in patient preferences will strengthen the global nebulizer market growth scenario in the near future. Also the rise in respiratory cases form a major factor. According to World Health Organization (WHO), around 15.7 million people were reported with Chronic Obstructive Pulmonary Disease (COPD) in the U.S. in 2016 which showed a significant increase of 6.4% from 2015.
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Nebulizers are also for a variety of diagnostic procedures among which the principal one is in diagnosis of lung function and bronchial activities. This has also added to the rise in demand for nebulizers in the market by the professionals for clinical use and monitoring of various associated respiratory disorders.
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