Airway Clearance System Market by type, Application: Global Opportunity Analysis and Industry Forecast, 2019-2026

Executive Summary

According to this report titled, 'Airway clearance market by type, application, and end user: Global opportunity analysis and industry forecast, 2018-2026,' the Airway clearance market size is expected to reach $922million by 2026, registering a CAGR of 4.7% from 2019 to 2026, in terms of value.

The global airway clearance system market was valued at $652 million in 2018 and is expected to reach $922 million by 2026, registering a CAGR of 4.7 from 2019 to 2026. 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.

Significant increase in The prevalence of cystic fibrosis, asthma, chronic obstructive pulmonary disease (COPD) across the globe is the major factor driving the airway clearance 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 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 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 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 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.

According to Onkar Sumant, Assistant Manager, Healthcare, “The growth of the airway clearance market is due to the surge in respiratory disorders across the globe.

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.

Comprehensive competitive analysis and profiles of major market players such as Allergan plc, Dymedso Inc., Electromed Inc., Ltd., General Physiotherapy IncHill-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.

Companies Mentioned

• Allergan plc
• Dymedso Inc.
• Electromed Inc. Ltd.
• General Physiotherapy IncHill-Rom Holdings Inc.
• International Biophysical Corporation
• Koninklijke Philips N.V. (Philips)
• Monaghan Medical Corporation Inc.
• PARI GmbH
• Thayer Medical

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

• Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
• Scientific and technical writings for product information and related preemptions
• Regional government and statistical databases for macro analysis
• Authentic news articles and other related releases for market evaluation
• Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.