The UK mucosal atomization device market is projected to grow at a 6.70% CAGR From 2024 to 2034, leading Western Europe. Non-invasive delivery systems are popular, driven by investment in healthcare and tech.
NEWARK, DE / ACCESSWIRE / July 16, 2024 / The global mucosal atomization device market is estimated to be worth USD 570.52 million in 2024, according to Future Market Insights' (FMI) latest report. It is anticipated to expand to USD 1.11 billion by 2034. Sales of mucosal atomization devices are forecasted to experience a steady rise, with a projected CAGR of 6.9% through 2034.
The market is expanding significantly due to various factors. One of the primary drivers is the increasing prevalence of sinusitis, a condition that affects many people. Another factor is the growing demand for non-invasive medical procedures, which has led to the adoption of atomization devices as a viable alternative to traditional methods.
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Technological advancements have further fueled the growth of the mucosal atomization device market, making them more efficient and user-friendly. These devices offer several advantages, such as the rapid delivery of medication into the bloodstream, the non-invasive nature of the procedure, and the ease of administration. They also eliminate the need for first-pass metabolism, which can significantly reduce the time required for treatment.
The manufacturers of mucosal atomization devices have recognized the importance of value-based healthcare systems in emerging economies. They are actively working towards improving their products to meet the needs of these markets. This focus on innovation and affordability has contributed significantly to the growth of the mucosal atomization device market, making it a promising area for investment and development.
"Given the growing usage of needle-free medication delivery systems, expanded applications in emergency medicine and pain management, technical improvements, and rising healthcare costs, the market for mucosal atomization devices is predicted to increase significantly over the intervening decade. The rising emphasis on patient comfort and safety is projected to increase demand for mucosal atomization devices," opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
Key Takeaways from the Mucosal Atomization Device Market:
The United Kingdom's mucosal atomization device industry is anticipated to see a CAGR of 6.70% through 2034.
India's mucosal atomization device industry showcases a significant CAGR of 7.50% through 2034.
The China mucosal atomization device market is expected to display a favorable CAGR of 7.10% through 2034.
The demand for nasal atomization devices is anticipated to acquire a 35.09% share of the mucosal atomization device industry in 2024.
The hospital segment is expected to dominate the mucosal atomization device industry, with a market share of 36.77% in 2024.
Category-wise Insights
Demand for Nasal Atomization Devices to continue gaining Traction
By product type, nasal atomization devices are anticipated to hold the maximum share of 35.09% in 2024, expanding at a rate of nearly 8.6% during the forecast period.
The nasal route is the most commonly used route of administration, therefore, nasal atomization devices are anticipated to observe considerable growth in the market. Moreover, the growing availability of medicine in the form of a nasal atomizer is anticipated to fuel the market development. For example, Naloxone, a drug recognized to reverse the adverse effects of an overdose opioid, was offered online in Louisiana, in a nasal atomizer. In addition, increasing research activities on the use of nasal devices is anticipated to offer growth opportunities for the development of the segment.
Why Gas Propelled Atomization Devices will hold the most market share?
By technology, gas-propelled atomization devices will lead the market and are projected to account for 74.1% of the total market revenue share in 2022.
The gas-propelled atomization devices segment is developing at a good rate owing to the rapid adoption of these devices around the world. The key factor driving the segment growth is the growing awareness amongst consumers regarding a number of advantages related to gas-propelled atomization devices. This includes the features like safety, effectiveness, needle-free, easy-to-use, and painless delivery. Moreover, the growing prevalence of diseases such as sinus and allergic rhinitis is another major factor adding to the growth of the segment.
Why Hospitals projected maximum growth in the Mucosal Atomization Devices Market?
By end user, the hospital's segment is anticipated to hold the maximum share of 36.77% in 2024, expanding at a rapid rate of 8.2% CAGR during the forecast period.
The rising number of hospitals, particularly in developed nations, is anticipated to surge the demand for mucosal atomization devices in hospitals. Moreover, the presence of well-developed infrastructure and the availability of advanced equipment supports the development of the segment. Also, the increasing patient admission in hospitals is increasing the use of these devices in hospitals, thereby contributing maximum towards the growth of the market.
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Competitive Landscape of the Mucosal Atomization Device Market:
Market participants in the mucosal atomization device industry invest in research and development to increase efficiency, accuracy, and safety. They form strategic alliances to broaden their product offerings, break into untapped areas, and adapt to changing consumer demands. In addition, these businesses take part in regulatory compliance initiatives to guarantee that their goods fulfill quality and safety requirements, which helps to build customer confidence in the healthcare sector. To enhance patient comfort and health outcomes, they develop tailored drugs and concentrate on patient-centric procedures.
Global mucosal atomization device companies promote mucosal atomization devices in various contexts and educate consumers and medical professionals about their benefits to assist in market development. Their proactive initiatives and innovations help enhance patient care and treatment outcomes, boosting industry growth and development.
Recent Developments in the Mucosal Atomization Device Industry:
The United States Food and Drug Administration (FDA) may influence the clearance procedure for new mucosal atomization devices after publishing draft guidelines in December 2023 on using real-world data (RWD) to evaluate medical products.
Aptar Pharma, a global pioneer in medication delivery systems, introduced APF Futurity, the first multidose, metal-free nasal spray pump made for recycling, in January 2023. Cyclos-HTP has certified the highly recyclable pump with a Class AA rating for European recycling streams.
Key Companies in the Mucosal Atomization Device Market:
Teleflex Incorporated
LMA North America Inc.
Medtronic plc
HealthFirst Corporation
VBM Medizintechnik GmbH
DeVilbiss Healthcare LLC
Cook Medical
Medica Holdings, LLC.
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Key Segments:
By Product Type:
Nasal Atomization Device
Fiber Optic Atomization Device
Laryngo Tracheal Atomization Device
Bottle Atomizers
By Technology:
Gas Propelled Atomization Device
Electrical Atomization Device
By End User:
Hospitals
Ambulatory Surgical Centers
Specialized Clinics
By Region:
North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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