The OPEP devices market is projected to grow at a 5% CAGR by 2029, driven by increased adoption in high-income regions and rising COPD prevalence.
A new market research report by Future Market Insights (FMI) on the oscillating positive expiratory pressure (OPEP) devices market includes global industry analysis 2014–2018 and opportunity assessment 2019–2029.. According to report findings, the global oscillating positive expiratory pressure devices market was valued ~US$ 100.0 Mn in 2018, and is expected to increase at a CAGR of ~5% during the forecast period of 2019 and 2029.
The study opines that the global OPEP devices market is projected to witness significant growth over the forecast period due to multiple driving factors such as increasing regional availability of the oscillating positive expiratory pressure devices. The promising growth prospects are attributed to the innovative approach followed by manufacturers in designing devices, and the increasing adoption of OPEP devices among patients with respiratory diseases.
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Regions such as North America and Europe are expected to hold a prominent market share in terms of value. However, the East Asia market is expected to project lucrative growth in the global oscillating positive expiratory pressure devices market in the forecast period of 2019-2029. This growth is majorly propelled by increasing regional manufacturers resulting in increased product availability at affordable costs.
Furthermore, prevalence of chronic obstructive pulmonary diseases (COPD) is on the rise due to increasing smoking population in China and aging population in Japan with respiratory disorders. Although, low awareness about oscillating positive expiratory pressure devices among healthcare professionals and patients is hampering the potential growth of the oscillating positive expiratory pressure devices market.
The demand for airway clearance devices such as OPEP device are receiving significant impetus from the rising prevalence of cystic fibrosis and chronic obstructive pulmonary disease (COPD). According to the World Health Organization, COPD exacerbations are major events in the history of the disease, related mortality and disability will continue to increase worldwide until the next years, thereby potentially raising the demand for OPEP devices.
High-income Regions Present High Sales Opportunities
Amid the incessant rise of pollution level and rapidly changing lifestyles, respiratory disorders are growing in prevalence across the globe, creating constant demand for mucus clearing devices such as OPEP devices. High-income regions such as North America and Europe continue to be in the vanguard of the OPEP devices market, in the view of greater awareness among patients, advanced healthcare facilities, and strong presence of market players.
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As the level of awareness of such devices are relatively low in mid- and low-income regions, market stakeholders are preparing for strategic collaborations and partnerships to enhance their distribution channels
OPEP Devices Market: Vendor Insights
The report highlights some of the prominent market players, who have established themselves as leaders in the global oscillating positive expiratory pressure devices market. Some of the prominent key players in the global OPEP devices market are Smiths Medical Inc., Allergan plc, PARI GmbH, Monaghan Medical Corporation, Trudell Medical International, Actegy Health Ltd., WyMedical Pty Ltd, R. Cegla GmbH & Co. KG, etc.
The global oscillating positive expiratory pressure devices market is significantly consolidated, with top two players holding prominent shares in the market revenues. These players are offering oscillating positive expiratory pressure devices under their popular brands such as Portex®, Flutter®, and Aerobika®, among others.
Increasing Respiratory Diseases Generating Demand for OPEP Devices
Respiratory diseases with increased mucus production often require airway clearance therapies, and oscillating positive expiratory pressure devices provide the desired option for such therapies. Other conventional therapies such as chest physical therapy, positive expiratory pressure devices, and bronchodilators often provide limited relief from coughing with low mucus excretion.
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Respiratory diseases are often linked to increased mucus production. Excessive mucus generation often interferes with the treatment of chronic respiratory diseases such as chronic obstructive pulmonary disease (COPD), cystic fibrosis, asthma, etc. Increasing prevalence of smoking among the general population is the prime cause of respiratory diseases.
Healthcare professionals often look for alternative and comparatively economical ways for the treatment of chronic diseases such as COPD, and oscillating positive expiratory pressure devices provide the exact benefit with airway clearance.
How Growth Will Unfold
Considering an increase in healthcare expenditure per capita in both developed and developing countries, the marketplace of medical devices such as oscillating positive expiratory pressure devices will continue to witness a steady growth. Creating greater awareness among patients and professionals will further add to the advantage of the market players.
Although the oscillating positive expiratory pressure devices market is still at its nascent stage, manufacturers will need to track the potential of emerging technologies to stay ahead of the pack. Further, regulatory compliance will remain a key to ensuring product quality and increasing patient satisfaction. In addition to offering customization of patient-specific products, stakeholders in the OPEP devices market are likely to enhance their ability to innovate and respond quickly to changing ways.
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The article discusses the growth prospects of the OPEP devices market, expected to grow at a 5% CAGR by 2029.
Increased regional availability and rising prevalence of respiratory diseases drive the market growth.
North America and Europe are leading, with East Asia showing promising growth potential.
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