Wilmington, Delaware, United States, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The global market for positive airway pressure devices was estimated to have acquired US$ 1.86 billion in 2018. It is anticipated to advance with a 5.5% CAGR from 2019 to 2027. The market is likely to reach US$ 3.08 billion by the end of the said forecast period.
The growth of PAP devices globally has been strongly supported by the excellent repayment plans offered by the protection providers particularly in countries like the United States. This has pushed patients to choose a sleep apnea therapy, which has led to a significant increase in PAP device acceptance. The market's growth would likely be fueled by the increasing prevalence of diabetes and obesity.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 1.56 Bn | |
| Estimated Value | US$ 3.08 Bn | |
| Growth Rate - CAGR | 7.8% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 223 Pages | |
| Market Segmentation | By Product, Application, End-user, Region | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Compumedics Limited, CareFusion Corporation (Becton, Dickinson and Company), Apex Medical Corp., and Mercury Medical (Mercury Enterprises, Inc.). | |
Key Findings of the Market Report
- In 2018, the CPAP category dominated the market.
- During the forecast period, a faster growth rate for the BiPAP sector is anticipated.
- During the forecast period, a growth in the number of obese patients is anticipated to fuel the CPAP sector.
- In 2018, the sleep apnea market held a significant portion of the worldwide PAP devices market.
- In 2018, a significant portion of the global market was made up by the hospitals & sleep sector.
- In 2018, North America had a sizeable portion of the worldwide market..
Market Trends for Positive Airway Pressure Devices
- In 2018, the hospital and sleep category had a sizable portion of the worldwide market, followed by home care settings. During the projected period, a rise in the number of sleep labs is anticipated to fuel the hospitals & sleep labs sector.
- With 7 to 8 beds in a lab, there were over 4,700 sleep centers or laboratories in the United States in 2017. These labs are either autonomous or housed in medical facilities or universities.
- The home care settings segment is anticipated to grow at a faster CAGR during the projected period.
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Positive Airway Pressure Devices Market Regional Outlook
Various reasons are propelling the growth of the positive airway pressure devices market in different regions. These are:
- In 2018, North America held a sizable part of the worldwide market, followed by Europe. North America's significant market share in global market in 2018 is responsible for the early adoption of technologically sophisticated goods, like portable PAP devices, for the treatment of sleep apnea.
- A sizable number of medical device firms that sell PAP devices in the area and advantageous medical reimbursement rules in both the United States and Canada drives the market in North America.
- The market in Asia Pacific is anticipated to grow at a faster CAGR during the forecast period because of the region's untapped potential, growing elderly population, and rising awareness of illness conditions.
Global Positive Airway Pressure Devices Market: Key Players
Key firms have a wide geographic reach and are present in many PAP device markets. Manufacturers through acquisition & cooperation strategies and the development of technologically enhanced PAP devices are addressing the unmet requirements of a sizable segment of the sleep apnea patient population.
The following companies are well-known participants in the global positive airway pressure devices market:
- ResMed Inc.
- Fisher & Paykel Healthcare Limited
- Philips Healthcare (Philips Group)
- 3B Medical Inc.
- Drive DeVilbiss Healthcare LLC.
- Lowenstein Medical (Lowenstein Group)
- Compumedics Limited
- CareFusion Corporation (Becton, Dickinson and Company)
- Apex Medical Corp.
- Mercury Medical (Mercury Enterprises, Inc.).
Developments by the key players in the global market for positive airway pressure devices are:
| Market Player | Year | Key Developments |
| Philips | 2021 |
|
| ResMed | 2021 |
|
| Royal Philips | 2021 |
|
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Global Positive Airway Pressure Devices Market Segmentation
Product
- CPAP
- BiPAP
- APAP
Application
- Sleep Apnea
- COPD
- Others
End-user
- Hospitals & Sleep Labs
- Home Care Settings
- Others
Region
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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