Posted By TMR Research Insights
Posted on August 30, 2021
Transparency Market Research (TMR) has published a new report titled, “Positive Airway Pressure Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027”. According to the report, the global positive airway pressure devices market was valued at US$ 1.56 Bn in 2018. It is projected to expand at a CAGR of 7.8% from 2019 to 2027. High prevalence of sleep apnea across the globe and launch of technologically advanced PAP devices are anticipated to boost the global market during the forecast period.
North America and Europe are expected to dominate the global PAP devices market from 2019 to 2027. This is attributed to early adoption of technologically advanced products, such as portable PAP devices, for sleep apnea management, rapid increase in geriatric population, rise in prevalence of obesity, and favorable medical reimbursement policies. The market in Asia Pacific is likely to expand at a higher CAGR by 2027. This is due to an increase in the prevalence of sleep apnea in developing countries, such as China and India, which in turn is propelling the demand for PAP devices. The market in Asia Pacific is projected to expand at a notable CAGR of 8.3% from 2019 to 2027.
Request Brochure of Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=16337
High prevalence of sleep related disorders including sleep apnea to propel market
Sleep apnea is a highly prevalent disorder across the globe. It is a chronic medical condition, require overnight therapy to efficiently limit the number of apneas and hypopneas that would occur without intervention. The gold-standard treatment for OSA is continuous positive airway pressure therapy (PAP), which offers a pneumatic splint of the soft tissue in the upper airway.
According to the Sleep Apnea Organization, in the U.S., 1 in 12 people suffers from obstructive sleep apnea. An estimated 22 million people from U.S. suffer from moderate to severe sleep apnea. Additionally, about 3% to 7% men and 2% to 5% women suffer from sleep apnea in the U.S. Thus, a large patient pool with sleep apnea is projected to fuel the global PAP devices market during the forecast period.
CPAP to be highly attractive segment
The report offers detailed segmentation of the global PAP devices market based on product, application, and end-user. In terms of product, the CPAP segment is expected to account for a leading share of the global market during the forecast period. Factors attributed to the higher share of the segment include the launch of technologically advanced CPAP devices and an increase in prevalence and incidence of sleep apnea.
For instance, in January 2019, an India-based medical technology innovation startup, InnAccel, launched the world’s first portable neonatal CPAP device. The product addresses more than 160,000 annual deaths of premature babies in India due to respiratory distress. The device is designed to provide support to critically-ill babies with Respiratory Distress Syndrome (RDS). However, the BiPAP segment is expected to expand at a higher growth rate during the forecast period. This is because BiPAP is considered to be a highly effect treatment for central sleep apnea and sleep specialists are likely to recommend BiPAP therapy if an individual has issues with CPAP or APAP.
Sleep apnea segment to expand at a higher CAGR
In terms of application, the sleep apnea segment is projected to expand at a higher CAGR during the forecast period. This is due to an increase in the number of diagnosed sleep apnea cases worldwide, especially in developed countries. According to a study published in the Sleep Apnea Zone blog 2018, more than 100 million people suffer from sleep apnea worldwide. An estimated 50 to 70 million adults in the U.S. suffer from sleep disorders. Among which, obstructive sleep apnea is a highly common sleep disorder. According to the Sleep Apnea Organization, in the U.S., 1 in 12 persons suffers from obstructive sleep apnea.
Request for Analysis of COVID-19 Impact on Positive Airway Pressure Devices Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=16337
Hospitals & sleep labs segment to dominate market
Based on end-user, the hospitals & sleep labs segment is projected to account for a dominant share of the global PAP devices market from 2019 to 2027. The home care settings segment is anticipated to expand at a high CAGR from 2018 to 2026. High share of hospitals & sleep labs segment is attributed to the increase in number of sleep labs. In 2017, there were about 4,700 sleep centers or labs in the U.S., with a bed count of 7 to 8 beds in every lab. Rise in demand for positive airway pressure devices for home use is expected to drive the home care settings segment during the forecast period.
North America to create high incremental opportunity
In terms of revenue, North America is projected to dominate the global PAP devices market from 2019 to 2027. This is attributed to the early adoption of technologically advanced products, such as portable PAP devices, for sleep apnea management, and favorable medical reimbursement policies in the U.S. and Canada. Europe is anticipated to be the second-largest and a highly attractive market for PAP devices. Increase in patient population of sleep apnea has fueled the production of medical devices, including PAP devices, in Europe. According to a study published in the European Journal of Obesity 2018, the prevalence of obesity is estimated to be 23% in Europe.
Presently, 33 out of the 53 countries in the region are projected to have an obesity prevalence of 20% or more, and obesity is projected to increase in 44 countries by 2025. Asia Pacific is anticipated to be a rapidly expanding market for PAP devices, owing to improving health care facilities, large geriatric population in Japan, and large population in countries such as India and China. Additionally, the presence of untapped opportunities and increasing awareness about sleep-related disorders in the region are expected to fuel the PAP devices market during the forecast period.
Buy Positive Airway Pressure Devices Market Report at https://www.transparencymarketresearch.com/checkout.php?rep_id=16337<ype=S
Development of technologically advanced PAP devices and merger and acquisitions of parallel companies: Key Trend among Leading Players
The report also provides profiles of leading players operating in the global PAP devices market. ResMed Inc, Fisher & Paykel Healthcare Limited, Philips Healthcare (Philips Group), 3B Medical Inc., Drive DeVilbiss Healthcare LLC., and Lowenstein Medical (Lowenstein Group) are the major players operating in the market offering products with proprietary technologies. Several companies have introduced technologically advanced PAP devices in the market in order to address the unmet needs in the PAP devices market.
Key players are expanding their presence in the PAP devices market through acquisitions and collaborations. For instance, in May 2018, Philips acquired NightBalance, a digital health company based in the Netherlands. NightBalance has developed an effective, easy-to-use, and innovative device to treat positional snoring and positional obstructive sleep apnea. Financial details of the deal were not disclosed. Other prominent players operating in the global positive airway pressure devices market include Compumedics Limited, CareFusion Corporation (Becton, Dickinson and Company), Apex Medical Corp., and Mercury Medical (Mercury Enterprises, Inc.).
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About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
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Press Release Source: https://www.transparencymarketresearch.com/pressrelease/positive-airway-pressure-devices-market.htm
Transparency Market Research (TMR) has published a new report titled, “Positive Airway Pressure Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027”. According to the report, the global positive airway pressure devices market was valued at US$ 1.56 Bn in 2018. It is projected to expand at a CAGR of 7.8% from 2019 to 2027. High prevalence of sleep apnea across the globe and launch of technologically advanced PAP devices are anticipated to boost the global market during the forecast period.
North America and Europe are expected to dominate the global PAP devices market from 2019 to 2027. This is attributed to early adoption of technologically advanced products, such as portable PAP devices, for sleep apnea management, rapid increase in geriatric population, rise in prevalence of obesity, and favorable medical reimbursement policies. The market in Asia Pacific is likely to expand at a higher CAGR by 2027. This is due to an increase in the prevalence of sleep apnea in developing countries, such as China and India, which in turn is propelling the demand for PAP devices. The market in Asia Pacific is projected to expand at a notable CAGR of 8.3% from 2019 to 2027.
Request Brochure of Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=16337
High prevalence of sleep related disorders including sleep apnea to propel market
Sleep apnea is a highly prevalent disorder across the globe. It is a chronic medical condition, require overnight therapy to efficiently limit the number of apneas and hypopneas that would occur without intervention. The gold-standard treatment for OSA is continuous positive airway pressure therapy (PAP), which offers a pneumatic splint of the soft tissue in the upper airway.
According to the Sleep Apnea Organization, in the U.S., 1 in 12 people suffers from obstructive sleep apnea. An estimated 22 million people from U.S. suffer from moderate to severe sleep apnea. Additionally, about 3% to 7% men and 2% to 5% women suffer from sleep apnea in the U.S. Thus, a large patient pool with sleep apnea is projected to fuel the global PAP devices market during the forecast period.
CPAP to be highly attractive segment
The report offers detailed segmentation of the global PAP devices market based on product, application, and end-user. In terms of product, the CPAP segment is expected to account for a leading share of the global market during the forecast period. Factors attributed to the higher share of the segment include the launch of technologically advanced CPAP devices and an increase in prevalence and incidence of sleep apnea.
For instance, in January 2019, an India-based medical technology innovation startup, InnAccel, launched the world’s first portable neonatal CPAP device. The product addresses more than 160,000 annual deaths of premature babies in India due to respiratory distress. The device is designed to provide support to critically-ill babies with Respiratory Distress Syndrome (RDS). However, the BiPAP segment is expected to expand at a higher growth rate during the forecast period. This is because BiPAP is considered to be a highly effect treatment for central sleep apnea and sleep specialists are likely to recommend BiPAP therapy if an individual has issues with CPAP or APAP.
Sleep apnea segment to expand at a higher CAGR
In terms of application, the sleep apnea segment is projected to expand at a higher CAGR during the forecast period. This is due to an increase in the number of diagnosed sleep apnea cases worldwide, especially in developed countries. According to a study published in the Sleep Apnea Zone blog 2018, more than 100 million people suffer from sleep apnea worldwide. An estimated 50 to 70 million adults in the U.S. suffer from sleep disorders. Among which, obstructive sleep apnea is a highly common sleep disorder. According to the Sleep Apnea Organization, in the U.S., 1 in 12 persons suffers from obstructive sleep apnea.
Request for Analysis of COVID-19 Impact on Positive Airway Pressure Devices Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=16337
Hospitals & sleep labs segment to dominate market
Based on end-user, the hospitals & sleep labs segment is projected to account for a dominant share of the global PAP devices market from 2019 to 2027. The home care settings segment is anticipated to expand at a high CAGR from 2018 to 2026. High share of hospitals & sleep labs segment is attributed to the increase in number of sleep labs. In 2017, there were about 4,700 sleep centers or labs in the U.S., with a bed count of 7 to 8 beds in every lab. Rise in demand for positive airway pressure devices for home use is expected to drive the home care settings segment during the forecast period.
North America to create high incremental opportunity
In terms of revenue, North America is projected to dominate the global PAP devices market from 2019 to 2027. This is attributed to the early adoption of technologically advanced products, such as portable PAP devices, for sleep apnea management, and favorable medical reimbursement policies in the U.S. and Canada. Europe is anticipated to be the second-largest and a highly attractive market for PAP devices. Increase in patient population of sleep apnea has fueled the production of medical devices, including PAP devices, in Europe. According to a study published in the European Journal of Obesity 2018, the prevalence of obesity is estimated to be 23% in Europe.
Presently, 33 out of the 53 countries in the region are projected to have an obesity prevalence of 20% or more, and obesity is projected to increase in 44 countries by 2025. Asia Pacific is anticipated to be a rapidly expanding market for PAP devices, owing to improving health care facilities, large geriatric population in Japan, and large population in countries such as India and China. Additionally, the presence of untapped opportunities and increasing awareness about sleep-related disorders in the region are expected to fuel the PAP devices market during the forecast period.
Buy Positive Airway Pressure Devices Market Report at https://www.transparencymarketresearch.com/checkout.php?rep_id=16337<ype=S
Development of technologically advanced PAP devices and merger and acquisitions of parallel companies: Key Trend among Leading Players
The report also provides profiles of leading players operating in the global PAP devices market. ResMed Inc, Fisher & Paykel Healthcare Limited, Philips Healthcare (Philips Group), 3B Medical Inc., Drive DeVilbiss Healthcare LLC., and Lowenstein Medical (Lowenstein Group) are the major players operating in the market offering products with proprietary technologies. Several companies have introduced technologically advanced PAP devices in the market in order to address the unmet needs in the PAP devices market.
Key players are expanding their presence in the PAP devices market through acquisitions and collaborations. For instance, in May 2018, Philips acquired NightBalance, a digital health company based in the Netherlands. NightBalance has developed an effective, easy-to-use, and innovative device to treat positional snoring and positional obstructive sleep apnea. Financial details of the deal were not disclosed. Other prominent players operating in the global positive airway pressure devices market include Compumedics Limited, CareFusion Corporation (Becton, Dickinson and Company), Apex Medical Corp., and Mercury Medical (Mercury Enterprises, Inc.).
More Trending Reports by Transparency Market Research –
Meningococcal Vaccines Market: https://www.prnewswire.com/news-releases/global-meningococcal-vaccines-market-to-expand-as-incidence-of-bacterial-infections-rises-tmr-301029546.html
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Contact
Transparency Market Research
USA – Canada Toll Free: 866-552-3453
Email: [email protected]
Blog: https://tmrblog.com/
Follow Us: Twitter | LinkedIn
Press Release Source: https://www.transparencymarketresearch.com/pressrelease/positive-airway-pressure-devices-market.htm
