The detailed analysis by Triton Market Research on the global airway clearance system market shows that in terms of revenue, the industry is estimated to grow at a CAGR of 4.23% during the forecasting years 2019-2028. The market was valued at $675.3 million in 2019, and is expected to reach $980.5 million by the year 2028.
Airway clearance systems are used for loosening the mucus in patients suffering from respiratory disorders such as asthma, COPD and cystic fibrosis. For treating these disorders, an assortment of airway clearance systems has been announced in the market, such as high-frequency chest wall oscillation and positive expiratory pressure.
The airway clearance system market is further driven by a rise in the occurrence of respiratory ailments caused due to cigarette consumption. Furthermore, an increase in healthcare expenditure, surge in automation in the healthcare industry and the rapid adoption of advanced medical solutions significantly contribute toward the market growth. The airway clearance system is an ideal treatment method, which helps people suffering from disorders, such as cystic fibrosis, to attain a healthier lifestyle.
The study aims to get an overview of the airway clearance system market in terms of various factors. Within this report, the key insights and the market definition regarding the airway clearance system industry have been discussed. Also, the key buying outlook, Porter's five forces model and market attractiveness index have been studied in detail.
Market drivers like the rise in healthcare expenditure and surging prevalence of cystic fibrosis and coronavirus infection are driving the airway clearance system market growth. However, the industry is facing market restraints like low awareness in developing economies and expensive treatment, coupled with limited availability of airway clearance systems, which is obstructing the industry growth.
Key opportunities like growth opportunities in developing economies and rising asthma & COPD-related diseases can be leveraged by the industry to reach the projected growth. However, challenges such as stringent regulations are being faced by this market.
Geographies covered in the airway clearance system market by region are:
• North America: United States and Canada
• Asia-Pacific: Japan, China, India, South Korea, ASEAN countries, New Zealand & Australia and Rest of Asia-Pacific
• Europe: Germany, United Kingdom, Russia, Spain, Italy, France and Rest of Europe
• Latin America: Mexico, Brazil and Rest of Latin America
• Middle East and Africa: Saudi Arabia, Turkey, South Africa, the United Arab Emirates and Rest of Middle East & Africa
The airway clearance system market has been segmented as follows:
• By Application
o Cystic Fibrosis (CF)
o Neuromuscular
o Bronchiectasis
o Emphysema
o Other Applications
• By Type
o Mechanical Cough Assist
o Oscillating PEP Devices
o Intrapulmonary Percussive Ventilators
o Positive Expiratory Pressure
o High-frequency Chest Wall Oscillation
• By End-User
o Ambulatory Surgical Centers
o Hospitals & Clinics
o Home Care Settings
The key players engaged in the airway clearance system market are Medtronic, International Biophysical Corporation, Hill-Rom Services Inc, General Physiotherapy Inc, Med Systems Inc, Olympus Corporation, Allergan, Agilent Technologies Inc, Thayer Medical, Electromed Inc, Koninklijke Philips NV, Pari GmbH, Monaghan Medical Corporation and Dymedso.
The strategic analysis for each of these companies has been covered in detail. The airway clearance system market by company profile helps to dive into the data about the key market players in this industry.