The global positive airway pressure (PAP) devices market is expected to reach US$ 4,731.03 Mn in 2027 from US$ 2,332.14 Mn in 2018. The market is estimated to grow with a CAGR of 8.3% from 2019-2027.
The report highlights the trends prevalent in the global positive airway pressure (PAP) devices market and the factors driving the market along with those that act as deterrents to its growth.
Global positive airway pressure (PAP) devices market, based on the product, was segmented as, automatic positive airway pressure (APAP) devices, continuous positive airway pressure (CPAP) devices, and bilevel positive airway pressure (BPAP) devices. In 2018, the CPAP devices segment held the largest share of the market, by product. However, the APAP devices segment is also expected to witness growth in its demand at a fastest CAGR during 2019 to 2027 owing to its advantages such as providing a range of air pressure to meet the patient’s particular changing breathing needs for the night. It is made with low pressure setting and a high pressure setting.
The market for positive airway pressure (PAP) devices is expected to grow, owing to factors such as increased prevalence of sleep apnea, rising geriatric population and technological developments. However, the restraints such as absence of patient compliance are likely to impact the growth of the market in the forecast period.
The major players operating in the positive airway pressure (PAP) devices market include Smiths Medical, Koninklijke Philips N.V., Devilbiss Healthcare LLC, Compumedics Limited, VYAIRE, 3B Medical, Inc., ResMed, Fisher & Paykel Healthcare Limited, Löwenstein Medical UK Ltd., and APEX MEDICAL CORP. among others. The market has witnessed various organic as well as inorganic developments during recent years in the positive airway pressure (PAP) devices market. For instance, in March 2019, ResMed completed the acquisition of HB Healthcare (HBH) to help millions of South Koreans living with sleep apnea, chronic obstructive pulmonary disease (COPD) and other respiratory conditions. The acquisition has enabled companies to expand their customer base worldwide.
Global Positive Airway Pressure (PAP) Devices Market, By Regions, 2018 (%)