Comprehensive Continuous Positive Airway Pressure (CPAP) Market Analysis: Size, Share, Trends, and CAGR 7.70% Forecast for 2022-2027
The Continuous Positive Airway Pressure (CPAP)s Market is projected to grow at a CAGR of around 7.70% during the forecast period, i.e., 2022-27. This detailed analysis offers valuable insights into the key growth drivers, geographical dynamics, and emerging trends that are poised to shape the market's trajectory in the coming years.
The market is driven by the rapidly increasing economic burden & challenges faced by the healthcare industry, especially after the advent of Covid-19, demonstrating a flooding number of patients with a high prevalence of respiratory diseases. It has paved the way for the broader adoption of devices like CPAP devices to address their conditions across healthcare settings. With the massive influx of patients globally & the high demand for CPAP, leading players are witnessing a presentation of growth opportunities to increase their production & distribution capacities and cater to the burgeoning requirements across different healthcare facilities globally.
Besides, an alarming rise in sleep apnea patients, especially across countries like the US, Canada, and others, is demonstrating a dire need for more CPAP devices. In the same line, people with chronic disorders like obesity & hypertension are more susceptible to developing obstructive sleep apnea, thereby passively influencing the demand for Continuous Positive Airway Pressure (CPAP) devices and stimulating the market.
According to the World Health Organization (WHO), Sleep apnea accounts for nearly one billion of the global burden of sleeping disorders. Sleep apnea, being common in adults & older individuals, is said to have infected 1 to 6% of adults.
According to a report published by The Global Impact of Respiratory Disease, 24% of men aged 30–60 had obstructive sleep apnea.
Moreover, the continuous technological advancements in CPAP Devices, like Auto-adjusting devices that regulate the air pressure automatically, resulting in lesser assistance & enhanced comfort, further amplify the market growth. Such a substantial market ascension lies in the capability of these devices to store vast data, leading to improved clinical outcomes with minimal human errors by healthcare professionals.
Exploring the Market Dynamics: What’s Driving the Growth of Continuous Positive Airway Pressure (CPAP) Market?
Rising Prevalence of Sleep Disorders & Chronic Respiratory Diseases: The high prevalence of sleep apnea among people due to the growing cases of diabetes, cardiovascular diseases, & other illnesses worldwide is one of the prominent reasons behind the mounting demand for CPAP devices. The same aspect is stimulating the market & generating growth opportunities for the leading players to increase their production capacities and cater to the burgeoning demands globally.
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Key Takeaways from the Market Study:
· Historical Data: 2017-20
· Base Year: 2021
· Forecast Period: 2022-27
· CAGR (2022-2027): 7.70%
· Key Players to Watch: Apex Medical Corp., Airon Corporation, Asahi Kasei Corporation, BMC Medical Co., Ltd, Drägerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited, General Electric Company, Getinge AB, Koninklijke Philips N.V., Löwenstein Medical GmbH & Co. KG, Medical Depot, Inc. dba drives DeVilbiss Healthcare LLC, Medtronic Plc, ResMed Inc., Smiths Group plc (Smiths Medical), Vyaire Medical, Inc. are expected to play a pivotal role in driving market growth through strategic investments, partnerships, and innovation.
Latest News in the Continuous Positive Airway Pressure (CPAP) Industry:
- In 2021, Eakin Healthcare acquired Armstrong Medical, specializing in respiratory care products, where the acquisition seems to embark on an expansion into a new therapeutic area.
- Philips & Cognizant planned their collaboration to create additional end-to-end solutions in July 2021. The incorporation develops comprehensive digital health solutions allowing healthcare organizations & life sciences businesses to offer better patient care & move clinical trials along.
- In 2019, ResMed introduced additional types such as the AirFitF30, a full-face mask with a minimal-contact cushion, and the AirFitN30i and P30i, a nasal and pillow mask attached to the top of the head, respectively. Among the top businesses selling continuous positive airway pressure (CPAP) devices are Corporation, Circadiance, and ResMed.
- In 2017, the smallest Positive Airway Pressure (PAP) device was introduced by RoyalPhilips, called DreamStation Go, to make traveling easier for people with obstructive respiratory disorders. The business innovates respiratory products to meet the needs of people with neuromuscular disorders and COPD.
- Again, to treat apnea patients, ResMed introduced the AirMini, the smallest CPAP in the world, in April 2017.
- Royal Philips a world leader in health technology, & the Dutch SAZ group inked a strategic collaboration deal in February 2021 that covers patient monitoring, observation, and self-management throughout their care.
Market Segmentation of Continuous Positive Airway Pressure (CPAP) Industry
The Continuous Positive Airway Pressure (CPAP) market is segmented as follows:
- By End Users
- Hospitals & Clinics
- Nursing Homes
- Elderly Care Centers
- Home-Use
- By Type of Disorder
- Obstructive Sleep Apnea (OSA)
- Chronic Obstructive Respiratory Disorder
- Neuromuscular Disorder
- Asthma
- Others
According to report, the rechargeable segment holds a larger share of the Global Continuous Positive Airway Pressure (CPAP) Market mainly due to their lower costs.
According to reports, offline retail holds the largest market share.
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Continuous Positive Airway Pressure (CPAP) Market Geographical Analysis
North America
South America
Europe
Middle East & Africa
Asia-Pacific
According to reports, North America holds a prominent share of the Continuous Positive Airway Pressure (CPAP) Market
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