The mucosal atomization devices market is projected to record a CAGR of nearly 7.3% over the forecast period. The major factor attributing to the growth of the market is the increase in the adoption of mucosal atomization devices due to the non-invasive nature of these devices. Furthermore, these devices offer quicker recovery and are less painful options. Mucosal atomization devices help in faster delivery of medication in the bloodstream, thus reducing the time for the therapeutics to act on the concerned medical issue. As these drugs directly enter the bloodstream, they avoid first-pass metabolism and give quicker results. Moreover, the increasing prevalence of allergic rhinitis and sinus across the world is another major factor propelling market growth. However, the side effects of the devices due to overdose of drugs are the drawback of the market growth.
Key Market Trends
Gas Propelled Segment is the Fastest Growing Segment of the Mucosal Atomization Devices Market
The gas propelled segment is growing at a healthy rate due to the rapid adoption of gas propelled mucosal atomization devices across the world. The major factors boosting the segment growth include increasing awareness about a number of benefits associated with gas propelled mucosal atomization devices, including effective, safe, easy-to-use, needle-free, and painless devices. Furthermore, the increasing prevalence of diseases like allergic rhinitis and sinus is also a major contributor to the high growth rate of the segment. According to the Centers for Disease Control and Prevention, 28.9 million people were diagnosed with sinusitis in 2018, in the United States. This statistic shows that there is a large number of people that are prone to suffer from sinusitis, which may directly impact the growth of the market.
North America Dominates the Market and is Expected to do the Same over the Forecast Period
North America is expected to dominate the overall market throughout the forecast period. The market growth is due to the factors, such as the presence of key players, high prevalence of allergic rhinitis and sinus in the region, and established healthcare infrastructure. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase the market growth. In this region, the United States has the maximum share due to supportive healthcare policies, a high number of patients, and a developed healthcare market. According to the Centers for Disease Control and Prevention, the number of visits to physician offices with chronic sinusitis as the primary diagnosis was 4.1 million in 2018. As per the statistics, the increasing patient pool and increasing disposable revenue in this country boost the market growth of the region.
The Mucosal Atomization Devices market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Teleflex Incorporated, DeVilbiss Healthcare LLC, Becton, Dickinson and Company, Kurve Technology, Inc, Cook Medical, Medica Holdings.
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