The aging population and technological advances have bolstered industry sales
Los Angeles, CA (PRWEB) February 07, 2012
The Nebulizer Manufacturing industry has maintained steady growth over the past five years. Sales were minimally affected by the economic downturn, largely due the indispensable nature of respiratory products. According to IBISWorld industry analyst Brian Bueno, “The introduction of new products combined with rising consumer spending and growing health expenditure have allowed for continued industry expansion over the period.” Over the five years to 2012, revenue is expected to increase at an annualized rate of 6.2% to $207.6 million.
The aging population has driven market growth, and technological advances have bolstered sales. The improving economy in 2010 and 2011 resulted in more physician visits, consequently raising the number of individuals diagnosed with a respiratory condition requiring a nebulizer. The incidence of respiratory illnesses is highly correlated with demand for nebulizers. Currently, nebulizers in the US market are used mainly to treat asthma and chronic obstructive pulmonary disease (COPD). According to the National Center for Health Statistics (NCHS), COPD became the third leading cause of death in the United States in 2008 (most recent data available). “Despite these positive drivers, cost-containment efforts are placing downward pressure on the Nebulizer Manufacturing industry’s profit,” Bueno says. To offset costs, companies are increasingly outsourcing various functions abroad. Meanwhile, industry employment has continued its long decline as producers have attempted to cut costs through wages because of rising input prices and increased competition from low-priced imports.
The Nebulizer Manufacturing industry is moderately concentrated, with the top two players, Philips and PARI, dominating the industry. The industry's remaining market share consists of smaller companies and companies with limited production in the United States. In the five years to 2012, industry concentration has increased slightly, with major firms actively acquiring other players to gain access to new technologies and broaden their customer networks. Despite some market saturation and new federal regulations, the outlook for the Nebulizer Manufacturing industry remains largely positive. New product developments and rising demand for health services will likely spur strong demand for nebulizers in the coming years. Demand from foreign markets and consumers who purchase products for at-home use will also continue to drive up revenue. For more information, visit IBISWorld’s Nebulizer Manufacturing in the US industry page.
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IBISWorld industry Report Key Topics
This industry develops and manufactures devices that are used to administer medication in the form of a mist inhaled into the lungs.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.