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Airway Clearance System Market Size to hit $922 million by 2026, at CAGR of 4.7% With Top Companies Allergan plc, Dymedso Inc., Electromed Inc., Ltd., General Physiotherapy Inc Hill-Rom Holdings

04-01-2020 12:26 PM CET | Health & Medicine

Press release from: Allied Market Research

Airway Clearance System Market

Airway Clearance System Market

The Airway clearance system market size is expected to reach $922 million by 2026, registering a CAGR of 4.7% from 2019 to 2026, in terms of value.

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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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.

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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.

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. are provided in this report.

Key Findings of the Study:

o 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.
o By region, North America was the major shareholder and accounted for the highest share of 44% in 2018.
o By application, neuromuscular segment is expected to grow at a CAGR of 5.4% during the forecast period.
o 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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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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