Newark, New Castle, USA, April 06, 2023 (GLOBE NEWSWIRE) -- According to a new analysis by Growth Plus Reports, the global airway clearance devices market is estimated to be worth US$ 986 million by 2031, with a revenue CAGR of 5.80%. The study examines the key strategies, factors and prospects, competitive landscape, evolving industry patterns, market size, financial information and forecasts, and potential business opportunities.
- The increasing prevalence of chronic respiratory diseases will drive market growth.
- Rising awareness of the advantages of airway clearance treatment for respiratory diseases will support market revenue growth.
- North America will dominate the global market with the largest revenue share.
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Airway Clearance Devices Market Scope
|Market size value in 2022||US$ 594 million|
|Revenue forecast in 2031||US$ 986 million|
|Growth Rate||CAGR of 5.8% from 2023 to 2031|
|Base year for estimation||2022|
|Segments covered||Type, Application, End-user, and Region.|
|Regional scope||North America, Europe, Asia Pacific, and the Rest of the World (ROW)|
Increased rate of lung conditions like COPD, cystic fibrosis, and bronchiectasis is the primary factor driving the revenue growth of the airway clearance devices market. Furthermore, technological advances, the introduction of novel and innovative airway clearance devices, and the incorporation of smart technology and machine learning are expected to contribute to market revenue growth. Besides this, increasing focus on developing airway clearance devices that are comfortable for patients to use and simple to operate, increasing usage of airway clearance devices, and rising awareness among healthcare professionals and patients of the advantages of airway clearance treatment for respiratory diseases will boost market revenue growth.
Growth Plus Reports has analyzed the global airway clearance devices market from four perspectives: Type, Application, End-user, and Region.
Type Segmentation: Based on the material, the airway clearance devices market is segmented into positive expiratory pressure (PEP), flutter mucus clearance device, high frequency chest wall oscillation (HFCWO), intrapulmonary percussive ventilation (IPV), and others. The flutter mucus clearance device segment dominates the market with the largest revenue share because they are simple to use and don't need an external power source, and successfully improve lung function and decrease exacerbations in patients with a variety of respiratory conditions.
Application Segmentation: Based on the application, the airway clearance devices market is segmented into cystic fibrosis, bronchiectasis, COPD, and others. The cystic fibrosis segment dominates the market with the largest revenue share because of its rising prevalence.
End-User Segmentation: Based on the end-user, the airway clearance devices market is segmented into hospitals & clinics, home care settings, ambulatory surgical centers, and others. The home care settings segment dominates the market with the largest revenue share because of the rising popularity of home-based care for individuals with chronic respiratory diseases, which is a more practical and affordable alternative to hospital-based care.
Regional Growth Dynamics
Based on the region, the global airway clearance devices market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global airway clearance devices market with the largest revenue share. The existence of major manufacturers in the region, a high prevalence of chronic respiratory conditions, a sizable demand for airway clearance devices, and the increasing shift towards home-based care are responsible for North America's significant revenue share in the global market.
Table of Content
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Scenario
- MARKET DYNAMICS
- GLOBAL AIRWAY CLEARANCE DEVICES MARKET - ANALYSIS & FORECAST, BY TYPE
- Positive Expiratory Pressure (PEP)
- Flutter Mucus Clearance Device
- High Frequency Chest Wall Oscillation (HFCWO)
- Intrapulmonary Percussive Ventilation (IPV)
- GLOBAL AIRWAY CLEARANCE DEVICES MARKET - ANALYSIS & FORECAST, BY APPLICATION
- Cystic Fibrosis
- GLOBAL AIRWAY CLEARANCE DEVICES MARKET - ANALYSIS & FORECAST, BY END-USER
- Hospitals & Clinics
- Home Care Settings
- Ambulatory Surgical Centres
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The following companies are important players in the global airway clearance devices market:
- Hill-Rom Services Inc.
- Koninklijke Philips N.V.
- Electromed Inc.
- Smiths Medical (ICU Medical Inc.)
- General Physiotherapy Inc.
- Dymedso Inc.
- Olympus Corporation
- International Biophysical Corporation
- Monaghan Medical Corporation Inc.
- PARI GmbH
There is moderate competition in the airway clearance devices market. To introduce novel drugs and products, the major players in the market emphasize research and development. Major companies often engage in mergers and acquisitions to enhance their market share.
- The FDA granted 510(k) approval to ABM Respiratory Care in January 2023 for the BiWaze Clear System. The new airway clearance system uses a novel Dual Lumen Breathing Circuit to deliver Oscillating Lung Expansion (OLE) therapy.
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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