(MENAFN- America News Hour) The Mucosal Atomization Devices market is projected to grow with 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 it is less painful option. 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 globe is another major factor propelling the market growth. However the side effects of the devices due to overdose of drugs is the drawback of the market growth.
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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 rapid adoption of gas propelled mucosal atomization devices across the globe. 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 disease like allergic rhinitis and sinus is also a major contributor to the high growth rate of the segment. According to Centers for Disease Control and Prevention, 28.9 million people were diagnosed with sinusitis in the year 2018, in 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 Same in 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 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, high number of patients, and a developed healthcare market. According to Centers for Disease Control and Prevention, number of visits to physician offices with chronic sinusitis as the primary diagnosis was 4.1 million in the year 2018. As per the statistics the the increasing patient pool and increasing disposable revenue in this country boosts the market growth of the region.
Competitive Landscape
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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1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Adoption of Mucosal Atomization Devices
4.2.2 Increasing Prevalence of Allergic Rhinitis and Sinus
4.3 Market Restraints
4.3.1 Side Effects Due to Overdose
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
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