The Oscillating Positive Expiratory Pressure (OPEP) Devices market studied is anticipated to grow with a CAGR of nearly 5.3%, during the forecast period.
Certain factors that are driving the market growth include rising prevalence of chronic pulmonary diseases and growing technological advancements.
Increased geriatric population coupled with higher incidences of chronic conditions drive the OPEP devices market growth. Increasing prevalence of chronic obstructive pulmonary disease (COPD) along with asthma is one of the major driving factors for the industry.
For instance, according to CDC (the Centres for Disease Control and Prevention), in 2018, around 9 million adults were diagnosed with chronic bronchitis which eventually leads to higher requirements for OPEP devices, thus fueling the market. All such factors are likely to drive the growth of the global market.
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Key Market Trends
COPD and Asthma Hold Significant Share in the Global Oscillating Positive Expiratory Pressure (OPEP) Devices Market
Asthma is refered to a chronic respiratory disease which blocks the airways of lung because of mucus production, inflammation, and tightening of muscles. Similarly, Chronic Obstructive Pulmonary Disease(COPD) is caused by the blockade in the airways further resulting in difficulty in breathing, owing to the primary cause as tobacco smoking.
According to the 2018 Global Asthma Report, Auckland, New Zealand, globally, asthma is ranked 16th among the leading causes of years lived with disability and 28th among the leading causes of burden of disease, as measured by disability-adjusted life years. Around 300 million people have asthma worldwide, and it is likely that by 2025 a further 100 million may be affected. There is a large geographical variation in asthma prevalence, severity, and mortality. While asthma prevalence is higher in high income countries, most asthma-related mortality occurs in low-middle income countries.
North America Dominates the Global Oscillating Positive Expiratory Pressure (OPEP) Devices Market
According to the 2019 report published by the Centers for Disease Control and Prevention (CDC), 1 in 13 people have asthma. More than 25 million Americans have asthma. This is 7.7% of adults and 8.4% of children. Asthma has been increasing since the early 1980s in all age, sex and racial groups.
According to the American Academy of Allergy Asthma and Immunology (AAAI), in 2016, approximately 8.3% of children in the United States were found to have asthma. Boys were to some extent more likely to have asthma than girls at a rate of 9.2% and 7.4%, respectively.
Asthma incidence among children increased from 8.7% in 2001 to 9.4% in 2010, and then declined to 8.3% in 2016. Although not all changes were statistically noteworthy, a similar outline was observed among the sub-demographic groups, except the Mexican/Mexican American children, among whom asthma prevalence increased from 5.1% in 2001 to 6.5% in 2016.
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The global Oscillating Positive Expiratory Pressure (OPEP) Devices market is competitive and consists of very few major players. Companies like AirPhysio, Allergan plc., D-R Burton Healthcare, Medica Holdings, LLC., Monaghan Medical Corporation, PARI GmbH, R. Cegla GmbH & Co. KG, Smiths Medical, Inc., WyMedical Pty Ltd, among others, hold the substantial market share in the market.