Consistent increment in the number of patients suffering from sleep disorders, respiratory diseases, and obesity are major factors for the growth of continuous positive airway pressure (CPAP) devices market. As per WHO, in 2016, over 1.9 billion adults were overweight, and more than 650 million were obese. It is estimated that more, than 350 million people are suffering from sleep disorders, as per the Centre for Disease Control and Prevention. Advancements in technology such as improved oral appliance and improved mask designs are likely to propel the market over the forecast period. The market is expected to witness significant growth, owing to the launch of technology-advanced CPAP devices, increasing market consolidation activities, and infrastructure improvements in the medical field of CPAP devices.
Rising Prevalence of Sleep Disorders & Chronic Respiratory Diseases Aiding CPAP Devices Market Growth
As per the WHO, sleep disorders and breathing issues is the most common condition affecting 1 to 6% adults. Sleep apnea is more common in adults and older individuals. As per a report of The Global Impact of Respiratory Disease, 24% men aged 30–60 years had obstructive sleep apnea. Paediatric sleep disorders are increasingly recognised as the causes of morbidity and mortality. Sleep disorders are associated with many other illnesses such as stroke, cardiovascular diseases, and metabolic disorders. According to the WHO, around 65 Mn people have moderate to severe COPD. Prevalence is also on the rise for people suffering from COPD, with three million deaths in 2015, which corresponds to 5% of all global deaths in 2015. This, in turn, is expected to increase the growth of the continuous positive airway pressure devices market over the coming years.
COVID-19 Impact Propelling Demand for CPAP Devices
With the increasing cases of COVID-19 worldwide, there is need for effective management of the infection using CPAP therapy. A shortage of ventilators during this pandemic has compelled healthcare professionals to opt for alternative methods to deliver respiratory support to patients affected with COVID 19. Necessary modifications required to convert CPAP devices to treat respiratory insufficiency have been designed to minimize aerosolization. These factors are playing an important role in driving the growth of the continuous positive airway pressure devices market. For instance, ResMed’s focus is to maximize the availability of respiratory support devices to treat the respiratory complications of COVID-19.
Continuous Technological Advancements in CPAP Devices
The continuous positive airway pressure devices market has been witnessing significant growth, owing to consistent introduction of new capabilities that are designed to meet the needs of individual patients. Auto-adjusting devices (autotitrating) monitor the breathing patterns of the user, and outputs the right amount of pressure at the right time to prevent apnea, with maximum comfort. This results in regularly and effectively treating dangerous sleep disorders of patients, which makes therapy more comfortable. CPAP devices come with data storage capabilities, which helps healthcare professionals produce better clinical outcomes with greater accuracy. Technological advancements in CPAP technology are aimed at improving the therapy experience for patients with sleep apnea, and this is likely to drive the demand for continuous positive airway pressure devices.
Regional Analysis of Continuous Positive Airway Pressure Devices Market
North America remains the most lucrative region with a significant market share of close to 37% in the global CPAP devices market. Increased demand for continuous positive airway pressure machines and rising prevalence of sleep disorders are factors contributing to the dominance of North America in the global continuous positive airway pressure devices market. Well-defined regulatory guidelines and increasing investments in research & development for new devices are key factors responsible for the growth of the Europe continuous positive airway pressure devices market. High prevalence of chronic sleep disorders coupled with increasing awareness among patients is anticipated to boost the demand for CPAP devices in Asia Pacific, in turn, driving the growth of the regional market.
Continuous Positive Airway Pressure Devices - Competitive Landscape
The continuous positive airway pressure devices market is mostly dominated by key players, while the remaining market is characterized as a fragmented market. Prime players across the globe are Medtronic Plc, Smiths Group plc, Koninklijke Philips N.V, ResMed Inc., Draegerwerk AG & Co. KGaA, etc. Manufacturers are actively involved in collaborations for product development and geographic expansion to gain a larger market share in the continuous positive airway pressure devices market.
Increasing prevalence of sleep apnea owing to rise in cardiovascular diseases, diabetes, and other diseases, globally, is a factor offering strong impetus to the growth of the continuous positive airway pressure devices market. The launch of advanced technological devices prominently accounts for the growing popularity of sleep apnea diagnostic systems across developing regional markets. Consistent rise in the number of manufacturers and distributors is likely to contribute to the growth of the CPAP devices market in the near future.
Continuous Positive Airway Pressure (CPAP) Devices Market - Scope of the Report
Persistence Market Research (PMR) recently published a market study on the global continuous positive airway pressure (CPAP) devices market. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the continuous positive airway pressure devices market structure. The market study presents exclusive information about how the continuous positive airway pressure devices market will grow during the forecast period (2020-2030).
Key indicators of market growth, which include compound annual growth rate (CAGR) and Year-on-Year (Y-o-Y) growth of the mark are explained in PMR’s study in a comprehensive manner. Other information includes definition, drivers, and opportunity analysis by region, application, product, and end user, which helps in the deep understanding of the market segments by researchers, suppliers, manufactures, and distributors. This information can help readers understand the quantitative growth prospects of the CPAP devices market during the forecast period.
The study is relevant for manufacturers, physicians, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Business researchers, shareholders, and industry experts can leverage the information and data presented in PMR’s study.
The study also includes statistics as well as facts related to the macroeconomics factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the continuous positive airway pressure devices market. Furthermore, small businesses and new entrants in the continuous positive airway pressure devices market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
PMR’s study on the CPAP devices market offers information divided into four important segments — by product, application, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Key Segments of Continuous Positive Airway Pressure Devices Market
Questions Answered in PMR’s CPAP Devices Market Report
Continuous Positive Airway Pressure Devices Market: Research Methodology
In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the continuous positive airway pressure devices market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the CPAP devices market study include statistics from government healthcare organizations, medicines journals, research journals, press releases, annual reports, white papers, directories, and databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from market players, and makes PMR’s projections on the growth prospects of the continuous positive airway pressure devices market more accurate and reliable.