Airway Clearance System Market is Generating Revenue of $922 million by 2026, at CAGR 4.7% Growth Rate
Pune, Maharashtra, India, September 23 2020 (Wiredrelease) Allied Analytics –:According to the report by Allied Market Research, the global Airway clearance system market is estimated to register a CAGR of 4.7% from 2019 to 2026. The research helps leading players and startups to devise new strategies based on current market trends and changing dynamics. Competitive landscape is mentioned in the report based on business segments, products portfolio, and strategic moves & developments of leading market players. Detailed segmentation assists in determining growing segments and determining further steps to capitalize on lucrative segments. Regional landscape is helpful in determining opportunities and driving factors of each region and taking further steps.
Airway clearance is a therapy are used for loosening the mucus in patients suffering from respiratory disorders such as COPD, asthma, cystic fibrosis and others. Major increase in the incidence of respiratory disorders all-inclusive has led to an increased demand of these devices. For instance, according to the Global Initiative for Asthma (GINA), around 300 million people across the world suffer from asthma every year. Further, COPD, was the 3rd leading cause for death, led to the death of 3 million people in 2017. Moreover, for treating these disorders, a variety of airway clearance systems have been introduced in the market, such as positive expiratory pressure (PEP), high frequency chest wall oscillation (HFCWO. However, the positive expiratory pressure (PEP)is the most effective treatment option as compared to the other methods.
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The Covid-19 outbreak has severely affected every sector across the world. The patient numbers have been increasing every day and the majority of the countries are in complete lockdown. This has affected the supply chain and overall business operations. International trading has taken a significant downfall and has created uncertainty in the stock market. These factors have affected the Airway Clearance System market.
The Airway Clearance System report offers an in-depth analysis of the Covid-19 impact on various market segments and countries. Moreover, the report offers major market trends and forecasts, considering the Covid-19 situation.
Significant increase in prevalence of cystic fibrosis, asthma, chronic obstructive pulmonary disease (COPD) across the globe is the major factor driving the airway clearance system market growth. For instance, U.S. Cystic Fibrosis Foundation, more than 30,000 people are living with cystic fibrosis in the country. Further, the major factors leading the airway clearance system market growth are increasing concerns of respiratory diseases, such as asthma and emphysema, and rising incidence of respiratory diseases caused due to cigarette consumption. The growth of the airway clearance system market would be boosted due to increase in healthcare expenditure, growth in the use of homecare devices in healthcare industry, and rapid adoption of advanced medical solutions. Currently, most of healthcare practitioners and pulmonary diseases experts prefer a combination of a drug and a device, owing to its fast and effective outcome. However, the factors such as high cost correlated with the airway clearance systems and side effects occurring due to their excessive usage may hamper the airway clearance system market growth
Technological advancements in airway clearances such as providing minimally invasive treatments, surge in awareness among individuals towards self-grooming are the major factors driving the airway clearances market growth. In addition, rise in disposable incomes in developing economies such as China, India, further contributes to the market growth. However, high cost of these devices and a lack of appropriate reimbursement policies are restraining the growth of this market. On the contrary, rise in baby boomer population and the budding trend of body altering across the globe, are anticipated to create lucrative opportunities for the market in near future. In addition, manufacturers are continuously focusing towards improving their products to help users in gaining improved results in a shorter time period with minimal or no incisions.
By type, the positive expiratory pressure (PEP) segment accounted for the majority of airway clearance system market share in 2018 and is expected to exhibit a prominent growth rate in the near future, owing to the fact that it is the most used airway clearance systems used for the treatment of cystic fibrosis. However, oscillating PEP device segment is anticipated to grow at the fastest rate during the forecast period
By application, the bronchiectasis segment dominated the airway clearance system market in 2018, and is anticipated to maintain its dominance during the forecast period. This is attributed to the surge in surge in incidence of the disease across the globe. For instance, according to British Lung Foundation, around 210,000 people in the UK were living with bronchiectasis in 2016.
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The Major Key Players Are:
Allergan plc, Dymedso Inc., Electromed Inc., Ltd., General Physiotherapy Inc Hill-Rom Holdings, Inc., International Biophysical Corporation, Koninklijke Philips N.V. (Philips), Monaghan Medical Corporation, Inc., and PARI GmbH, Thayer Medical.
Key Findings of the Study:
• By type, the positive expiratory pressure (PEP) segment accounted for the highest market share of 27% in 2018 and is anticipated to grow at the fastest rate during the forecast period.
• By region, North America was the major shareholder and accounted for the highest share of 44% in 2018.
• By application, neuromuscular segment is expected to grow at a CAGR of 5.4% during the forecast period.
• By end user, the hospitals segment dominated the market in 2018 and is anticipated to maintain its dominance during the forecast period.
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