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.
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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.
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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