Positive Airway Pressure Devices market to Eyewitness Huge Marginal Growth by 2027

 


The global positive airway pressure devices market size is anticipated to reach USD 2.7 billion by 2025, expanding at a CAGR of 7.0%, according to a new report by Grand View Research, Inc. An increase in the patient pool suffering from Obstructive Sleep Apnea (OSA) is one of the key factors anticipated to drive the market growth. Furthermore, an increase in the compliance rate of positive airways pressure (PAP) machines due to growing awareness for sleep apnea and its associated disorders is likely to drive growth over the forecast period. However, the availability of alternative treatment options such as nasal surgery, uvulopalatopharyngoplasty (UPPP), and mandibular maxillomandibular advancement surgery and the on-going clinical trials for the development of sleep apnea medications are some of the major challenges to the market growth.

In 2018, the CPAP device dominated the market, with a revenue of USD 1.3 billion. The penetration of CPAP is increasing owing to improved patient outcomes and favorable reimbursement policies across various countries. Moreover, the launch of portable travel-friendly CPAP machines has also influenced the growth of this segment. On the other hand, the BiPAP device is expected to exhibit the fastest growth rate over the forecast period, owing to its higher efficiency compared to other PAP devices.

North America dominated the market in 2018, with a revenue share of 47.4%, owing to the presence of a large patient pool in the region. Furthermore, the presence of major players and increasing awareness related to OSA and its consequences are some of the secondary factors driving the growth in this region. Moreover, the region is anticipated to grow at the fastest rate over the forecast period, due to high healthcare expenditure and availability of medical insurance coverage in the region.

According to a study conducted by the American Academy of Sleep Medicine (AASM) in 2016, the annual economic burden caused due to undiagnosed sleep apnea among U.S. adults was approximately USD 149.6 billion. Whereas, treated sleep apnea would result in an annual economic savings of over USD 100 billion in the country. Due to this, the government institutions across various regions have started focusing on increasing the overall treatment rate by creating awareness among citizens on obstructive sleep apnea and its treatment, thus, boosting the demand for positive airways pressure (PAP) machines globally.

Have a Query? Ask Our Expert:

https://www.grandviewresearch.com/inquiry/6864/ibb

The market is oligopolistic and is consolidated with limited number of companies operating in this space. Some of the players operating in this market include Koninklijke Philips N.V. (Philips Respironics); Curative Medical; ResMed; Fisher and Paykel Healthcare Limited; Drive DeVilbiss Healthcare Inc.; and Somnetics International, Inc. These companies are focused on new product development, strategic acquisitions, and developing partnerships to gain higher market share. Moreover, strong geographic presence in multiple countries, a wide product portfolio, and a large number of distributors has helped the key players to strengthen their market presence.

Further key findings from the report suggest:

  • The global PAP Devices market is anticipated to be USD 2.7 billion by 2025, owing to the high prevalence of OSA
  • CPAP devices accounted for a major share in 2018 with a revenue of USD 1.3 billion, owing to the increasing awareness about sleep apnea related treatments among patients
  • North America dominated the market in 2018, owing to the availability of favorable reimbursement policies for PAP devices in the region
  • Some of the key players are Koninklijke Philips N.V. (Philips Respironics); Curative Medical; ResMed; Fisher and Paykel Healthcare Limited; and Drive DeVilbiss Healthcare, Inc. 

Grand View Research has segmented the global PAP devices market based on product type:

PAP Devices Product Type Outlook (Revenue, USD Million, 2014 - 2025)

  • CPAP
  • APAP
  • BiPAP

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com

 

 

Comments

Post a Comment

Popular posts from this blog

Vertical Farming Market Growth On The Basis Of Type, Application, Region & Forecast To 2030: Grand View Research Inc.

Image
  The vertical farming market is witnessing significant advancements, marked by the adoption of innovative technologies, including sensors and cameras, to increase yields and enhance resource efficiency. Vertical farming efficiently addresses the challenges of limited space and environmental constraints. It offers a reliable solution by ensuring stable crop production, even during unfavorable weather conditions. Compared to traditional farming methods, vertical farming provides numerous advantages, including reduced water usage, decreased reliance on agrochemicals, and decreased dependency on agricultural labor. As a result, vertical farming is emerging as a promising alternative to meet the growing needs of urban populations. The ABCs of Vertical Farming: Key Components ·          Hardware: Vertical farming relies on various hardware components and systems to create the ideal environment for plants to grow optimally. The hardware components include: o    Lighting: Lighting in
Read more

Clinical Diagnostics Market Segment Analysis By Size, Share & Trends Analysis Report By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

Image
  San Francisco, 12 June 2024:  The Report Clinical Diagnostics Market Size, Share & Trends Analysis Report By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025 The clinical diagnostics market, like many other businesses, is entering the Industry 4.0 revolution. The advent of digitalization, automation, and robotization has helped develop highly flexible smart laboratories. These labs can manage both high-volume/routine analyses and highly customized analyses at reasonable prices. Clinical laboratories are required to have exceptional flexibility to adapt quickly to persistent shifts and unpredictable new environments. Mentioned below are the 5 key trends that are helping the clinical diagnostics industry survive in a dynamic environment: Integration of Automation Technologies in Genomics Over the years, the accuracy of genome sequencing has radically improved. Furthermore, sequencing and library preparation platforms are n
Read more

Satellite Payload Market Growth On The Basis Of Type, Application, Region & Forecast To 2025: Grand View Research Inc.

  San Francisco, 10 June 2024:  The Report Satellite Payloads Market Size, Share & Trends Analysis Report By Orbit (LEO, MEO, GEO), By Application (Communication & Navigation, Remote Sensing, Surveillance), By End Use, By Region, And Segment Forecasts, 2018 - 2025 The global satellite payloads market size is expected to reach USD 21.8 billion by 2025, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 7.9% over the forecast period, owing to Increased government spending in space exploration activities is expected to boost the market growth over the forecast period. The growing popularity of communication and broadcasting services including pay TV and Over-The-Top (OTT) have led providers to develop advanced payload systems. Moreover, the increased penetration of payloads in the commercial sector is expected to propel the market demand. The market is expected to witness significant growth as there has been a great rise in t
Read more