BiPAP Devices Market to Exceed US$ 511.6 Million at a CAGR of 5.5% by 2031: Transparency Market Research, Inc.
North America is projected to witness significant revenues during the forecast period
Wilmington, Delaware, United States, Jan. 27, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – Increase in adoption of BiPAP (bi-level positive airway pressure) devices to treat a wide range of respiratory problems and sleep disorders has generated high revenues for companies. Rise in adoption of advanced devices, in particular auto-adjusting BiPAP, to treat sleep apnea has accelerated the BiPAP devices market development. The global market size stood at US$ 299.7 Mn in 2021, and is projected to surpass US$ 511.6 Mn by 2031.
Launch of innovative products has created attractive opportunities for vendors in the BiPAP devices industry. These devices are lightweight and portable and are effective in treating certain chronic sleep disorders and respiratory problems, which has increased their popularity among patients. BiPAP machines are frequently used to treat chronic obstructive pulmonary disease (COPD).
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Key Findings of Study
Rise in Public Awareness about Sleep Disorders to Drive BiPAP Devices Industry Growth: Surge in awareness about sleep disorders is a key market trend propelling the demand for PAP therapy. High global burden of COPD and asthma has intensified the need for their effective treatments. Their prevalence is associated with substantial morbidity and mortality in patients worldwide. BiPAP devices are considered a non-invasive and comfortable therapy for a wide range of sleep disorders and respiratory problems.
Increase in Demand for PAP Therapies for Treatment of Sleep Apnea: Rise in demand for PAP therapies to treat several forms of sleep apnea and sleep-related breathing disorders has bolstered the BiPAP devices market demand. Sleep apnea is associated with arrhythmia, high blood pressure, stroke, and heart failure. The sleep apnea segment held a dominant BiPAP devices market share in 2021. Several organizations, such as the WHO and non-governmental organizations, are increasing awareness about healthy sleep being vital for an individual’s health and wellbeing. healthy behavior, which has boosted the market prospects. Hence, devices used in PAP therapies have witnessed significant commercialization in the past few years.
Rise in burden of sleep disorders on public health is a key factor which is expected to drive the BiPAP devices market demand
Prevalence of COPD, asthma, and other respiratory diseases is likely to create substantial business opportunities for companies in the market
Regional Growth Dynamics
North America held major global market share in 2021. The market in North America is anticipated to witness sizable revenues during the forecast period. Rise in prevalence of sleep apnea and other sleep disorders is likely to propel the market. The U.S. held the major share in the regional market in 2021. Extensive R&D activities, especially by prominent companies in the country, have fueled the market growth.
The market in Asia Pacific is projected to expand at the most attractive growth rate during the forecast period. Rise in demand for PAP therapies for sleep disorders and presence of a large patient population are expected to accelerate market development in the region.
BiPAP Devices Market: Competition Landscape
The study indicates that presence of large number of players has made the landscape fragmented. Leading companies are focusing on product portfolio expansion and mergers and acquisitions in order to consolidate their positions in the global BiPAP devices market. Additionally, many players consider partnerships and collaborations as key strategies to increase market share.
Some of the prominent companies in the market include SEFAM, Oventus Medical, React Health, Lowenstein Medical Technology GmbH, Koninklijke Philips N.V, Hebei Topson Medical Technology Co., Ltd., Drive DeVilbiss Healthcare, and BMC Medical Co., Ltd.
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BiPAP devises Market Segmentation
Chronic Obstructive Pulmonary Disease (COPD)
Middle East & Africa
Australia & New Zealand
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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