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Positive Airway Pressure Devices Market Size Worth $2.7 Billion by 2025: Grand View Research, Inc.
SAN FRANCISCO, Nov. 26, 2019 /PRNewswire/ -- 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.
Key suggestions from the report:
- 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.
Read 97 page research report with ToC on "Positive Airway Pressure Devices Market Size, Share & Trends Analysis Report By Product Type (CPAP, APAP, BiPAP), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/positive-airway-pressure-devices-market
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.
Grand View Research has segmented the global PAP devices market based on product type and region:
- PAP Devices Product Type Outlook (Revenue, USD Million, 2014 - 2025)
- PAP Devices Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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