The end-user segment of home care settings captured the largest market share and registered the highest CAGR over the projected period, due to the shift in preference towards homecare among patients.
NEW YORK, May 12, 2020 /PRNewswire/ --
KEY FINDINGS
The global airway clearance system market is anticipated to record a CAGR of 4.39% over the projected period of 2019-2028. The factors boosting global market growth are the surging prevalence of cystic fibrosis and coronavirus disease, a rise in government initiatives, and growth opportunities in developing countries.
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MARKET OPPORTUNITIES
Airway clearance systems act as an ideal treatment method used for loosening the thick, sticky mucus in patients suffering from respiratory disorders like cystic fibrosis, for attaining a healthier lifestyle. A considerable increase in the prevalence of respiratory disorders all over the world, such as asthma, COPD, Bronchiectasis, etc. has led to an increased demand for these devices. One of the factors hindering the market growth is low awareness regarding respiratory diseases. The developing countries in the Asia Pacific region are unaware of the cystic fibrosis diagnosis for the newborns. The occurrence rate in India, China, and Japan, is less than the Caucasians, but the record of the disease is much lower than the actual incidence rate.
The companies are adopting various strategies, such as new product enhancement, technological development, and others, leading to a competitive environment in the market.Bronchiectasis, a chronic disorder, garnered the largest market share in 2019 in the application segment.
The end-user segment of home care settings captured the largest market share and registered the highest CAGR over the projected period, due to the shift in preference towards homecare among patients.
REGIONAL INSIGHTS
The global airway clearance system market is regionally surveyed by studying the markets situated in the regions of North America, Asia Pacific, Europe, and the Rest of the World. As of 2019, the region of North America holds the largest market share owing to the growing demand for airway clearance devices.
COMPETITIVE INSIGHTS
The intensity of market rivalry is high, due to several players trying to increase their market presence. Some of the renowned companies participating in the market are Allergan Plc, PARI GmbH, Medtronic PLC, Koninklijke Philips N.V., Electromed Inc, etc.
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Companies mentioned
1. ALLERGAN PLC
2. DYMEDSO INC
3. ELECTROMED INC
4. GENERAL PHYSIOTHERAPY INC
5. HILL-ROM HOLDINGS INC
6. INTERNATIONAL BIOPHYSICAL CORPORATION
7. KONINKLIJKE PHILIPS N.V
8. MED SYSTEMS
9. MEDTRONIC INC
10. MONAGHAN MEDICAL CORPORATION
11. OLYMPUS CORPORATION
12. PARI GMBH
13. THAYER MEDICAL
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