Valley Cottage, NY, December 19, 2017 (Newswire.com) - Global positive air pressure devices market to witness robust growth and a 1.9x increase in revenue during the period of assessment, 2017-2027
As per Future Market Insights forecasts, the global positive air pressure devices market is anticipated to display high growth during the period of assessment. Analysing various market scenarios and trends, across major geographic regions in the globe, Future Market Insights has obtained various facts of the global positive air pressure devices market, such as its current position, future growth and market valuation. The forecasts are carried out for a 10 year period, starting from 2017 till 2027. The global market for positive air pressure devices is anticipated to reach a valuation of more than US$ 3500 Mn by the end of the year of assessment (2027) from a value of around US$ 1.8 Bn in 2017. It is projected to grow at a robust value CAGR of 6.6% throughout the period of forecast, 2017-2027. This growth can be attributed towards increasing healthcare expenditure on sleep related disorders, rise in geriatric population and increase in the prevalence of COPD and obstructive sleep apnea, rise in the adoption rate owing to increased technological advancements and increasing prevalence of obesity.
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Home care to accelerate the growth of the global market
Improvement in healthcare services have helped in improving patient outcome and reduce the related expenditure by allowing people with chronic diseases to receive home-based medical care. The rise in the number of individuals aged 60 years and above increases the demand for home healthcare devices because this population prefers them over hospital stays. Home care positive air pressure devices are suitable for people with moderate to severe apnea. In addition, positive air pressure 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.
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Rise in online sales
Online marketing has led to rapid increase in sales of positive air pressure devices. In 2015, a research study estimated that about 70% of the population in the US relies on online shopping portals for purchasing various items. Vendors in the market are focusing on online marketing and promotional strategies to ensure better access to their products and increase product sales. Products offered online also help vendors minimize distribution and operational costs. The online platform enables vendors to offer information about devices in their portfolio and also gain access to both local and global markets. In addition, online marketing websites offer a wide selection of branded positive air pressure devices. Online selling of positive air pressure devices can therefore significantly contribute to the growth of the global market.
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Continuous positive airway pressure devices (CPAP) to lead the global market in the coming years
Continuous positive airway pressure devices segment in the product type category is the largest segment with respect to market share and valuation. The CPAP segment is anticipated to grow at a significant pace to register a CAGR of 5.7% throughout the period of assessment. In 2017 it is valued at around US$ 1.3 Bn and is estimated to reach more than US$ 2 Bn by the end of the assessment year. Automatic positive airway pressure devices (APAP) segment is expected to grow from around US$ 250 Mn in 2017 and reach about US$ 535 Mn by 2027 end. This segment is projected to grow at a CAGR of 7.8% during the period of assessment, 2017-2027. This is the third largest segment in the product type category.
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Source: Future Market Insights