Global Positive Airway Pressure (PAP) Devices Market - 2022-2029

Global Positive Airway Pressure (PAP) Devices Market - 2022-2029

Market Overview

Positive Airway Pressure (PAP) Devices Market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of 4.5 % during the forecast period (2022-2029).

Positive airway pressure (PAP), such as continuous PAP (CPAP) or bilevel PAP (BPAP), is used to treat breathing disordered during sleep, such as Obstructive Sleep Apnea (OSA), Central Sleep Apnea (CSA) or hypoventilation (as may be seen in patients with Obesity Hypoventilation Syndrome, COPD, or neuromuscular diseases). The global positive airway pressure (PAP) Devices market growth is driven by factors such as the rising prevalence of sleep apnea, rising collaborations, and increasing R&D investments toward developing technologically-advanced devices.

Market Dynamics: Rising prevalence of sleep apnea is driving the market growth

Sleep Apnea is a respiratory disorder caused due to disruption of breathing during sleeping commonly observed in obese people and diabetes patients, resulting in loud snoring due to blockage of air during breathing. Obstructive sleep apnea (OSA) is the partial and complete airway obstructions that occur while sleeping. The severity of the disease is calculated with an apnea-hypopnea index (AHI which is the mean number of apneas and hypopneas per hour of sleep.

Obstructive sleep apnea (OSA) has increased over the past few years. According to Statista data 2021, the total global market size for sleep apnea therapeutics and diagnostics was expected to reach 8.24 billion U.S. dollars by 2028. Over 3.2 billion dollars was forecast to be generated in North America. This statistic represents the sleep apnea therapeutics and diagnostics market size worldwide by region since 2018, with projections up to 2028. Sleep apnea is a medical condition in which the patient’s breathing patterns during sleep decrease or even stop. The prevalence of obstructive sleep apnea is growing due to an unhealthy lifestyle. The anticipated prevalence of sleep-disordered disorders has grown in adults. Hence, the rising prevalence of sleep apnea is anticipated to rise the demand for PAP devices.

However, the global positive airway pressure (PAP) Devices market growth is likely to be hampered by the high cost associated with PAP machines. For instance, the average cost of continuous positive airway pressure (CPAP) device varies between $250 to $1,000, depending on the brand, machine model, and feature. However, health insurance covers the cost of sleep apnea treatment; patients must bear some part of the total cost. Also, the portable travel-friendly CPAP devices newly launched in the market are considered merely luxury items and are not covered by any insurance coverage.

Market Segmentation: The CPAP Segment is projected to be the dominant segment in the market during the forecast period.

Based on product type, the global market for PAP devices is classified into Automatic Positive Airway Pressure (APAP) Devices, Bilevel Positive Airway Pressure (BiPAP) Devices, and Continuous Positive Airway Pressure (CPAP) Devices.

The CPAP devices accounted for the largest market share and are anticipated to grow significantly over the forecast period. Continuous Positive Airway Pressure (CPAP) Devices are the first line of treatment for obstructive sleep apnea. They are prescribed to a patient suffering from snoring and episodes of obstructed breathing during sleep. In addition, increased adoption of these devices due to their low cost compared to other PAP devices has supported the growth of this segment.

On the other hand, the Bilevel Positive Airway Pressure (BiPAP) devices segment is expected to grow at the fastest rate over the forecast period. This device is recommended for patients with difficulty exhaling while using a CPAP device. The device has an advantage over CPAP devices, which is more efficient in the breathing pattern of patients as it provides an alternate/variable flow of air. Also, the accessibility of reasonable reimbursement and the availability of technologically advanced products are some of the key factors expected to drive the growth of this segment over the forecast period.

Geographical Penetration: North America is the dominating region during the forecast period.

In terms of region, the global Positive Airway Pressure (PAP) Devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America accounted for the largest market share of the global positive airway pressure (PAP) devices market in 2021, owing to the rising prevalence of obstructive sleep apnea in this region. For instance, according to National Sleep Foundation in 2021, in the U.S, Obstructive sleep apnea is the most common type of sleep apnea. It is estimated to affect 10% to 30% of adults in the United States facing obstructive sleep apnea but, in many cases, goes undiagnosed. There is high demand for PAP devices as they have the facility of adjusting pressure, and auto adjustments can be made based on the patient's need and sleep stage. Moreover, favorable reimbursement policies offered by insurance providers in the U.S. have strongly supported the growth of PAP devices in this region. This, in turn, has encouraged the patients to opt for sleep apnea treatment, which has led to a significant increase in the adoption of PAP devices. Besides, the growing prevalence of diabetes and obesity is likely to fuel market growth.

The Asia Pacific is expected to grow at the fastest growth rate over the forecast period due to the high prevalence of sleep apnea diseases and increasing support from government initiatives, like the Japanese Circulation Society and Chinese Sleep Research Society, to create awareness of sleep apnea disorders in this region. In addition, increasing product launches, approvals, and collaborations by international players in China, Japan and India.

Competitive Landscape:

Some of the major players in the positive airway pressure (PAP) devices market include Koninklijke Philips N.V. (Philips Respironics), ResMed, Fisher and Paykel Healthcare Limited, DeVilbiss Healthcare Inc., and Smiths Medical, 3B Medical, among others. The major players are adopting several growth strategies, such as product launches, acquisitions, and collaborations, contributing to the growth of the global positive airway pressure (PAP) devices market. In January 2022, ICU Medical completed the acquisition of Smiths Medical from Smiths Group plc. Through this acquisition, they combined with ICU Medical's existing businesses; the combined companies created a leading infusion therapy company with estimated pro forma combined revenues of approximately $2.5 billion. In December 2021, Philip, a global leader in health technology, expanded its image-guided therapy devices portfolio by acquiring Vesper Medical, a US-based medical technology company. Vesper Medical will further expand Philips' portfolio of diagnostic and therapeutic devices with an advanced venous stent portfolio for treating deep venous disease. This acquisition helped expand the vascular therapy space. In June 2021, Philips recalled Bi-Level PAP, CPAP, and mechanical ventilator devices in the United States. In May 2022, Medtronic, a global leader in healthcare technology, completed the acquisition of Intersect ENT. This acquisition helps to expand the company's comprehensive ear, nose, and throat (ENT) portfolio with innovative products used in sinus procedures to improve postoperative outcomes and treat nasal polyps.

COVID-19 Impact: Positive impact on the positive airway pressure (PAP) devices.

The COVID-19 is affecting the global economy by directly affecting production and demand, by disturbing the supply chain and market disruption, and by its financial impact on firms and financial markets.

Due to the COVID 19 pandemic crisis, continuous positive airway pressure (CPAP) has started witnessing greater preference as a potential replacement for lifesaving ventilators after the FDA’s recent emergency policy. As the COVID-19 pandemic continues to develop, the global price of ventilators is high and seriously inadequate. In June 2020, Apex Medical Corp., the medical device company, who develops and manufactures the continuous positive airway pressure machine (CPAP), has launched the integrated solution of its CPAP product with the new catheter design to provide mild and moderate COVID-19 patients with another respiratory treatment program.