ALBANY, N.Y., Sept. 23, 2020 /PRNewswire/ -- Transparency Market Research, New York: Long-term economic and health consequences of untreated obstructive sleep apnea (OSA) have been driving strides in the positive airway pressure devices market. Rise in rate of diagnosis of sleep apnea especially in developing economies has helped drive revenue potential of the PAP devices market. High prevalence in such countries is a key factor shaping the growth dynamics.
The global positive airway pressure (PAP) devices market stood at US$ 1.56 Bn in 2018 and is projected to a CAGR of 7.8% from 2019 to 2027.
The Asia Pacific PAP devices market is expected to clock CAGR of 8.3% from 2019 to 2027. BiPAP is a highly lucrative segment, find analysts at TMR.
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Key Findings of Positive Airway Pressure (PAP) Devices Market Report
- Continuous positive airway pressure (CPAP) machine was the leading segment in 2018
- Hospitals and sleep accounted for the leading share in PAP devices market in 2018
- Home care is also a lucrative end-use segment
- Sleep apnea held a prominent share in 2018
- North America and Europe held prominent share in 2018
- Asia Pacific PAP devices market is expected to rise at most attractive CAGR during 2019 – 2027
- BiPAP a remarkable effective treatment for central sleep apnea, boosting its popularity among sleep specialists
Explore 223 pages of top-notch research, incisive insights, and detailed country-level projections on Positive Airway Pressure Devices Market (Product - CPAP, BiPAP, APAP; Application - Sleep Apnea, COPD; End user - Hospitals and Sleep Labs, Home Care Settings) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/report-toc/16337
Positive Airway Pressure (PAP) Devices Market: Key Driving Factors and Promising Avenues
- Growing number of sleep centers and sleep labs in developed economies, such as in the U.S., is a key trend that underscores the lucrativeness of the PAP devices market.
- Obstructive sleep apnea (OSA) pose a huge public health burden, and there have been an assortment of PAP devices in use by sleep specialists for managing the health condition.
- The OSA condition affects about 2–4% of the adult population
- Growing demand for PAP devices for managing COPD is also boosting opportunities for manufacturers in the market.
- Demand for better therapies for sleep apnea has set the pace for technological advancements in the PAP devices market.
- Sleep apnea has a marked prevalence in African American, Asian, and Hispanic populations, per a recent statistics published in NCBI.
- Bilevel PAP ventilation is a popular option for chronic obstructive pulmonary disease as well as in patients who are intolerant of CPAP, although continuous positive airway pressure therapy (PAP) is a gold standard for PAP.
- PAP devices are seeing substantial uptake among home users, thus augmenting the revenue potential in the PAP devices market.
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Positive Airway Pressure (PAP) Devices Market: Competitive Landscape
Technological advances have been made in PAP devices market. The growing efforts to make PAP devices portable and of high performance has brought innovations in the market. An example is the advent of portable neonatal CPAP device. Such product advances have come to occupy a key positon in the competitive dynamics. Mergers and acquisitions between companies of similar competencies to this end.
The PAP devices market is expected to see incessant focus of top players to meet the unmet medical need in patient populations. They are leaning on developing easy-to-use and effective devices.
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Some of the well-entrenched players in the PAP devices market are Lowenstein Medical, Drive DeVilbiss Healthcare LLC, 3B Medical Inc., Philips Healthcare, Fisher & Paykel Healthcare Limited, and ResMed Inc.
Positive Airway Pressure (PAP) Devices Market: Regional Assessment
Marked prevalence of sleep apnea has made Asia Pacific a lucrative regional market. The regional market is expected to clock CAGR of 8.3% from 2019 to 2027. The presence of large patient population in China and India is bolstering the demand. The revenue potential is driven by the presence of large elderly population.
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The Positive Airway Pressure (PAP) Devices Market is segmented based on:
- Sleep Apnea
- Hospitals & Sleep Labs
- Home Care Settings
- North America
- Rest of Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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