The global positive airway pressure devices market to grow at a CAGR of 8.02% during the period 2016-2020.
Global Positive Airway Pressure Devices Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Home care PAP devices are suitable for people with moderate to severe apnea. They are considered less obtrusive as they are employed in the familiar home setting of users. In addition, these devices are more in demand by people who are home-bound, aged, have chronic illnesses, and require specialized care. Also, home sleep tests are more cost-effective than lab sleep study. Therefore, this emerging trend is expected to have a positive effect on the growth of the market.
According to the report, prevalence of sleep apnea will be a key driver for market growth. In 2014, it was estimated that sleep apnea affected over 350 million people worldwide, of which 80% were undiagnosed. Sleep apnea affects both adults and children. According to a research in 2014, around 26% of adults aged between 30 to 70 years have sleep apnea symptoms, and 16% and 10% of people across the world have mild and severe sleep apnea, respectively. Sleep apnea occurs more in men than in women (4% in men and 2% in women). Sleep apnea increases with age, and over 50% of adults 65 years and above have some form of chronic sleep-related complaints. There is also a rising incidence of sleep apnea in comorbidities globally.
Further, the report states that the high cost of treatment is a key challenge hindering the growth of the global positive airway pressure devices market. For instance, the success rate of respiratory treatments is 50% lesser than the treatment for life-threatening diseases such as breast cancer, but the treatments are twice as expensive in terms of cost per approved drug. Many individuals may not be able to afford high-cost PAP treatment without reimbursement coverage.
Key questions answered in this report
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?