Mucus Clearance Devices Market Outlook
Added: (Fri May 31 2019)
Mucus Clearance Devices Market: Key Research Findings
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Global mucus clearance devices market size in 2018 - Nearly US$ 470
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The mucus clearance devices market revenue is estimated to grow with a CAGR of 6.1% over the forecast period of 2018-2028
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On the basis of product type, the HFCWO devices segment of the mucus clearance devices market accounted for a 33.6% share in 2018, which is expected to increase to 36.1% by the end of 2028. This segment of the mucus clearance devices market is also expected to grow at a higher CAGR as compared to other product types
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The North America mucus clearance devices market is expected to gain the maximum value share of 41.2% in 2018. However, the South Asia mucus clearance devices market is expected to grow at a maximum CAGR of 10.3% from 2018 to 2028
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The US represents the most lucrative market in the North America mucus clearance devices market, followed by Europe and East Asia. South Asia is the fastest growing mucus clearance devices market owing to the rapid adoption of mucus clearance devices in India and China
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However, the mucus clearance devices market in MEA is expected to record sluggish growth due to low awareness among healthcare professionals and patients
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Key players are focusing on strengthening their positions by collaborating with local manufacturers and acquisitions to enhance their sales. Moreover, companies are targeting the North America, Asia Pacific, and Europe regions through the adoption of the globalization strategy
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Top 3 Factors Impacting the Growth of the Mucus Clearance Devices Market
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Growing Popularity of PEP & OPEP Devices
Mucus clearance devices are considered medically necessary for the treatment of COPD, cystic fibrosis, bronchiectasis, and asthma. Increase in the number of requests about traveling with PEP machines internationally is boosting the global mucus clearance devices market. PEP is the standard therapy that is required, and it offers substantial health benefits when it is used as prescribed.
Moreover, the launch of few mucus clearance devices, such as Aerobika, The Lung Flute, Flutter, Acapella, and others, has propelled the mucus clearance devices market. This has ultimately increased the popularity of PEP and OPEP devices, which is another factor that is expected to drive the revenue growth of the mucus clearance devices market over the forecast period.
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Increasing Focus of Companies toward Homecare Settings
The providers of mucus clearance devices are primarily focusing on providing full service, which is likely to provide comprehensive information about a variety of respiratory disorders. Companies are more focused on maintaining a patient-centric culture. New products foster patient engagement with PEP, OPEP, and HFCWO therapy, which helps improve adherence to the prescribed treatment and better patient outcomes in homecare settings and clinics.
The increasing usage of mucus clearance devices in home settings, technological assessments, changing healthcare guidelines, and the requirements of insurance payers are among the factors expected to significantly change the role of physicians, payers, and patients. Therefore, the increasing adoption of mucus clearance devices in homecare settings is expected to propel the mucus clearance devices market over the forecast period.
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Rising Patient Pool Suffering from COPD
The Journal of Thoracic Disease reveals that approximately 3-4% of the population of China is suffering from COPD owing to high exposure to biomass smoke. A Study by WHO highlights that approximately 65 Mn people around the globe are suffering from COPD.
The same study also estimates that this prevalence is expected to double by 2050. Furthermore, this study explains that high-income countries have greater prevalence owing to rising pollution. This factor is projected to drive the mucus clearance devices market.
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Mucus Clearance Devices Market: Competitive Analysis
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The global mucus clearance devices market is highly consolidated, and the top five-six players are estimated to account for a market share of approximately 85%
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Hill-Rom Inc. accounted for a share of 35.3% of the global market in 2017 due to its focus on expansion in the emerging economies
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Allergan, Philips, Respiratory Technologies, Smiths Medical, and Electromed Inc. collectively accounted for a 49.3% share of the global mucus clearance devices market owing to the focus of these companies on key countries such as Brazil, India, Russia, China, and Mexico
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Other regional and local players, such as Westmed, Inc., International Biophysics Corp., Thayer Medical, and VORTRAN Medical, are estimated to gain the remaining revenue share of the mucus clearance devices market in 2017