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.
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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.
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.
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