Technavio’s latest report on the global positive airway pressure (PAP) devices market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline. The report is available for purchase on its website.
The global PAP devices market is expected to grow at a compound annual growth rate surpassing 8% during the forecast period, one of the major reasons being the high prevalence of sleeping disorders.
Srinivas Sashidhar, a lead medical devices research analyst at Technavio, says in a release, “Next generation micro-CPAP machine will boost the market growth significantly. This device is the world’s first wireless, portable, cordless, maskless, and hoseless PAP device introduced by Airing on May 2015. This type of device is expected to gain popularity as it is easy to carry and can be used anywhere during sleep.”
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
The top three emerging trends driving the global positive airway pressure devices market, according to Technavio healthcare and life sciences research analysts are:
- High adoption of home care products
- Rise in online sales
- Improvement in mask fits
High Adoption of Home Care Products
Modern medicine and improvement in healthcare services have helped improve patient outcome and reduce related expenditure by allowing many people with chronic diseases to receive home-based medical care. In 2015, the National Association for Home Care & Hospice in the US estimated that 7.6 million individuals were receiving home healthcare from about 17,000 paid providers. 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 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.
Rise in Online Sales
“Online marketing has led to rapid increase in sales of PAP 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,” says Srinivas.
To ensure better access to their products and increase product sales, vendors in the market are focusing on online marketing and promotional strategies. Offering products online also help vendors minimize operational and distribution costs. The online platform enables vendors to offer information about devices in their portfolio and also gain access to both local and global markets. Online marketing also allows vendors to measure the sales volume of their products and calculate associated revenue.
Online marketing websites offer a wide selection of branded PAP devices and accessories. Also, the purchase of accessories online is more convenient as they need to be procured frequently. Online selling of positive airway pressure devices and accessories can therefore significantly increase the revenue for vendors.
Improvement in Mask Fits
Vendors are developing compact, lightweight masks that deliver effortless performance, visual freedom, and comfort. In addition, separate masks are available for male and female. For instance, AirFit P10 for Her by ResMed, is designed especially for females.
In 2012, a study indicated that 44%-65% individuals using PAP machines reported nasal dryness, suggesting that humidification can improve the comfort level while using PAP machines. Moreover, 50% of users complained against their mask fitness. Thus, vendors are focusing on developing different kinds of masks fits for specific patients.
New developed masks have heated humidification that improve compliance and satisfaction among users. The wide range of masks available will fuel the market growth during the forecast period.