A recent report published by Infinium Global Research on the BiPAP machine market provides an in-depth analysis of segments and sub-segments in the global as well as regional BiPAP machine market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional BiPAP machine market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global BiPAP machine market. According to the report, the global BiPAP machine market is projected to grow at a CAGR of 8.5% over the forecast period of 2020-2026.
The global BiPAP machine market was valued at USD 3710 million in 2020 and is projected to reach near USD by 6053 million by 2026, growing at a CAGR of 8.5% from 2020 to 2026. Breathing problems such as sleep apnea, asthma, and chronic obstructive pulmonary disease (COPD) are the most common chronic diseases among children and adults. Positive airway pressure (PAP) therapies are extensively used to treat these breathing problems, which use a stream of compressed air to support the airway. Different devices such as continuous positive airway pressure (CPAP), automatic positive airway pressure (APAP), and bilevel positive airway pressure (BPAP/ BiPAP) machines use PAP technology to treat breathing disorders. BiPAP machines have two air pressure settings, high, and low, that helps in improving the level of oxygen in the blood and decreasing the carbon dioxide. BiPAP machines are used in hospitals as well as home care settings.
The growing cases of novel coronavirus virus have had a fairly positive effect on the growth of the BiPAP machines market. COVID-19 has symptoms similar to breathing diseases such as sleep apnea, asthma, and COPD. Patients infected with COVID-19 face shortness of breath similar to breathing disorders. Thus, BiPAP machines that are used to treat breathing diseases are also used for the treatment of COVID-19. This increased the demand for BiPAP machines during the period of the pandemic. Moreover, COVID-19 is expected to have fatal effects on patients with breathing disorders. Thus, the healthcare facilities are taking extra care of sleep apnea, asthma, and COPD patients. This, in turn, drove the BiPAP machines market during the period of the COVID-19 pandemic.
The market growth is mainly attributed to the growing prevalence of respiratory diseases. BiPAP machines are widely used by patients for relieving the symptoms as well as for the treatment of obstructive lung diseases. Moreover, the advancements in technology have led to the development of BiPAP machines with a range of settings, which can be controlled according to the patient’s requirement. This, in turn, leads to the growing sale of BiPAP machines. In addition, the growing geriatric population that is more susceptible to respiratory diseases is anticipated to boost the market growth. On the other hand, the high cost of some BiPAP devices is anticipated to hamper the growth of the market. Nevertheless, transforming healthcare infrastructure in emerging markets coupled with rapid advancements in the BiPAP machines is expected to provide growth opportunities for the players operating in the market.
Geographically, the BiPAP machines market is segmented into North America, Europe, Asia-Pacific, and Row. North America dominates the market and anticipated to hold the highest share of the market over the forecast period, followed by Europe. The presence of better reimbursement policies, rising prevalence of chronic respiratory disorders is the major factors supporting the growth of the market in these regions. Furthermore, the market in Asia-Pacific is expected to grow at the fastest rate over the forecast period. The presence of large patient pools with respiratory diseases and higher increasing demand for sophisticate medical devices are some of the factors augmenting the growth of the market.
The report on the global BiPAP machine market covers segments such as indication, and end user. On the basis of indication, the sub-markets include chronic obstructive pulmonary disorder (COPD), sleep apnea, asthma, and others. On the basis of end user, the sub-markets include hospitals, ambulatory surgical centers, home care, and others.
The report provides profiles of the companies in the market such as Koninklijke Philips N.V., DeVilbiss Healthcare LLC, Compumedics Limited, ResMed Corp., BMC Medical Ltd., Breas Medical AB, Nidek Co., Ltd., Nanotronics Imaging Inc., Resvent Medical Technology Co., Ltd., and Respro India.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the BiPAP machine market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.