The Global Continuous Positive Airway Pressure (CPAP) Devices Market is expected to exhibit strong growth, reaching USD 7.8 billion by 2030. As per the report titled “Continuous positive airway pressure (CPAP) devices Market Size, Share & COVID-19 Impact Analysis, By Product (CPAP Devices, CPAP Humidifiers, CPAP Masks, Full Face Masks, Nasal Pillow Masks, Nasal Masks and Accessories), By Application (Obstructive Sleep Apnea, Respiratory Failures and Others), By End User (Hospitals, Clinics, Sleep Centers and Home care Settings), and Regional Forecasts, 2023-2030” observes that the market size in 2022 stood at USD 5.2 billion and USD 7.8 billion in 2030. The market is expected to exhibit a CAGR of 5.90% during the forecast period.
Cognizant And Philips Intended To Intensify Their Collaboration To Provide End-To-End Solutions
In July 2021, Philips and Cognizant planned to expand their joint effort to develop end-to-end solutions. The company creates thorough digital health solutions that help healthcare organizations and life sciences companies provide better patient care and advance clinical studies.
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Continuous Positive Airway Pressure (CAP) Devices' Market to Benefit from Technological Advancement
Continuous positive airway pressure (CPAP) devices have been introduced, which has sparked a fierce market-positioning battle among competitors. To provide various options for the treatment of sleep apnea and respiratory disorders, the players are developing many sophisticated types of equipment for consumers. For instance, in August 2016, Res Med introduced an app called myAir to help users of continuous positive airway pressure devices monitor their sleep apnea treatment. Users of CAP can monitor their therapy with myAir using an iOS platform, which enables access to daily sleep patterns and coaching advice. In addition, ResMed introduced the AirMini PAP in April 2017—the smallest PAP in the world—to treat apnea patients. AirMini comes with a built-in humidification system thanks to Reset's AutoSet.
CPAP Equipment's High Cost Serves To Restrain Market Expansion
Due to the high cost of continuous positive airway pressure machines, the limited affordability of positive airway pressure devices in the projection period hindered the market. The types of functions that these machines offer to affect their pricing. For instance, according to a SleepFoundation.org article from January 2021, the cost of non-insured continuous positive airway pressure (CPAP) devices can range from $250 to $1,000. In contrast, the complexity of bilevel positive airway pressure (BiPAP) devices can cause their price to range from $1,000 to $6,000. The high cost of continuous positive airway pressure devices hampered the market's expansion.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the continuous positive airway pressure (CPAP) devices market plan acquisitions to improve their brand recognition globally. For instance, in 2021, Armstrong Medical, a manufacturer of respiratory care products, was acquired by Eakin Healthcare. This move appears to be the start of an expansion into a new therapeutic field.
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Recent Development:
April 2021: To address identified potential health risks related to the polyester-based polyurethane (PE-PUR) sound abatement foam component in certain Continuous Positive Airway Pressure (CPAP), Philips Bi-Level Positive Airway Pressure (Bi-Level PAP), and mechanical ventilator devices, Royal Philips provided an update on the recall notification.
List of Key Players Profiled in the Report
- Medtronic Plc.
- Smiths Group plc.
- Koninklijke Philips N.V.
- Dragerwerk AG & Co.KGaA
- Fisher & Paykel Healthcare
- Hamilton Medical AG & Co.KGaA
- Fisher & Paykel Healthcare
- Hamilton Medical AG
- ResMed Inc.
- Devilbiss Healthcare LLC
- 3B Medical,Inc
- BMC Medical Co.Ltd
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Further Report Findings
- The market in North America is expected to gain a huge portion of the global continuous positive airway pressure (CPAP) devices market share in the coming years due to the increased demand for equipment that maintain constant positive airway pressure.
- The rise in the prevalence of sleep disorders will also contribute to the continuous positive airway pressure (CPAP) market's expansion in the area over the course of the forecast year.
- In the Asia Pacific, the growth in this region is primarily driven by an increase in the prevalence of long-term sleep problems. Additionally, it is projected that in the upcoming years, the continuous positive airway pressure (CPAP) market will rise in the region due to patients' increasing alertness.
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