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.
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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.
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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.
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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.
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.
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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.
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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