Surging adoption of continuous positive airway pressure (CPAP) devices for clinical effectiveness of sleep disorders and increasing technological developments in these devices are expected to drive the growth of continuous positive airway pressure devices market. High awareness among the patient population about new diagnosis and availability of CPAP products is likely to impact market growth positively in emerging economies. Increasing obese population associated with heightened risk of cardiovascular diseases and increasing prevalence of obstructive sleep apnea are primary factors for the growth of the CPAP devices market.
The global continuous positive airway pressure devices market is expected to witness a CAGR of more than 6% during the forecast period (2020–2030).
Due to the COVID 19 pandemic crisis, CPAP has started witnessing greater preference as a potential replacement for lifesaving ventilators after the FDA’s recent emergency policy. Moreover, technological advancements for better diagnosis and management of sleep apnea have been the driving factors for the growth of the continuous positive airway pressure devices market. Increasing collaborations, R&D investments toward developing technologically-advanced devices, and a refined chain of local distribution networks are expected to boost the growth of the CPAP devices market over the coming years.
Key Takeaways of Continuous Positive Airway Pressure Devices Market Study
- Based on product, due to superior product efficiency, CPAP devices contributed over 50% market value share in the global continuous positive airway pressure devices market in 2019.
- Advancements in medical technology have improved the performance of CPAP devices, coupled with several benefits offered such as reduced daytime fatigue, lower blood pressure, and lower risk of heart disease and other medical conditions.
- Based on application, obstructive sleep apnea contributes 58% of the total market share, and is expected to dominate the space over the forecast period, owing to increasing number of patients with chronic obstructive pulmonary disorders and rapid visible increase in the diagnosis rate of sleep apnea/hypopnea syndrome (SAHS).
- In terms of end user, hospitals contribute 55% of the market value share in the global CPAP devices market, due to growing demand for continuous positive airway pressure devices in hospitals and emergency response for better clinical management of sleep apnea.
- North America holds over 1/3 market value share, and is expected to be the most lucrative regions in the global CPAP devices market during the forecast period.
“Increasing demand for CPAP devices coupled with technological advancements such as improved masks and autotitrating CPAP designs for the effective treatment of sleep disorders are some of the factors expected to aid the growth of the global continuous positive airway pressure devices market over the next decade,” says a PMR analyst.
Collaboration & Launching Products - Imperative Strategy for Market Players
Market introduction of new continuous positive airway pressure devices and collaboration with various larger as well as regional market players are some of the major factors responsible for intense competition among players in the global continuous positive airway pressure devices market. Most companies in the CPAP devices market are small & medium business enterprises, which limits the competition of market players to specific regions. For example, in the month of March 2019, ResMed completed the acquisition of HB Healthcare (HBH), to help millions in South Korea suffering from sleep apnea, chronic obstructive pulmonary disease (COPD), and other respiratory conditions. In May 2017, Fisher & Paykel launched a new F&P SleepStyle CPAP device that has been designed to use in the diagnosis and treatment of sleep specialists and obstructive sleep apnea or OSA patients.
What else is in the report?
Persistence Market Research offers a unique perspective and actionable insights on the continuous positive airway pressure devices market, in its latest study, presenting historical demand assessment of 2015–2019 and projections for 2020–2030, based on product (CPAP devices, CPAP humidifiers, and CPAP masks & accessories), application (obstructive sleep apnea, respiratory failures, and others), end user (hospitals, clinics, sleep centers, and home care settings), across seven key regions.
For additional insights on how growth of the continuous positive airway pressure devices market will unfold over the next decade, write to the analyst at firstname.lastname@example.org
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