According to BIS Research, Continuous positive airway pressure (CPAP) devices comprise positive airway pressure (PAP) devices and ventilators that offer the CPAP mode of therapy. These are prescription-based devices that can be used across various medical and homecare settings.
The global Continuous Positive Airway Pressure (CPAP) Market was valued at $4.96 billion in 2019 and is anticipated to grow to$10.18 billion by the end of 2026, growing at a projected CAGR of 8.01% during the forecast period 2020-2026. The market growth rates have registered a significant increase in 2020, owing to the global surge in demand for CPAP devices during the COVID-19 pandemic.
The global CPAP market is expected to grow on the backdrop of the growing prevalence of respiratory diseases among the geriatric population, evolving startup ecosystem, and increasing prevalence of diseases such as obstructive sleep apnea.
COVID-19 Impact on the CPAP Market
The COVID-19 pandemic has resulted in skyrocketing demand for CPAP devices. Owing to the limited supply of ventilators, regulatory agencies such as the U.S. Food and Drug Administration (FDA),Medicines and Healthcare products Regulatory Agency (MHRA), and Therapeutic Goods Administration (TGA) authorized CPAP devices as emergency use devices. However, the use of CPAP devices was limited to the non-severe to moderately severe cases of COVID-19.
Market Drivers
Rising Number of Startups Driving Innovation
There has been a steady growth in the number of health-tech startups in the industry. The market entry of new players has been further accelerated by the COVID-19 pandemic. MedTech startups have been responding to the growing demand for ventilators by offering non-invasive unconventional systems and indigenous ventilators.
The demand for CPAP is expected to grow during the COVID-19 pandemic as it is an efficient solution to supplement the unmet demand for ventilators, especially for mild-to-moderate respiratory failures. As new players enter the market landscape, the intensity of competition is expected to increase due to innovations in terms of user-friendly design and price points.
Increasing Prevalence of Obstructive Sleep Apnea
Globally, the prevalence of obstructive sleep apnea is expected to exceed 986 million cases by the end of 2026. The rising awareness regarding the ill effects of sleep apnea is expected to increase the adoption of sleep apnea devices, including CPAP devices, during the forecast period 2020-2026. One of the major causes for the rise in the prevalence of obstructive sleep apnea is obesity, which is also a key contributor to the development of several other health problems.
Growing Prevalence of Respiratory Diseases among the Geriatric Population
The life expectancy in most countries has surged tremendously. The improvement in life expectancy is due to significant advancements in diagnostic technology and medical science. Furthermore, growing awareness regarding health, nutrition, and hygiene has also resulted in increased life expectancy. The aged population is at a higher risk of suffering from respiratory ailments.
Growing Prevalence of Chronic Respiratory Diseases across the Globe
According to a study by The Lancet Journal published in 2020, titled, ‘Prevalence and Attributable Health Burden of Chronic Respiratory Diseases, 1990–2017: A Systematic Analysis for the Global Burden of Disease Study 2017’, chronic respiratory diseases remained one of the major causes of disability and deaths across the globe.
Market Restraints
High Upfront Cost of Device
The cost of a CPAP device is significantly higher, especially in emerging economies. Additionally, the lack of reimbursement policies by the government and commercial payors also hampers the adoption of CPAP devices in emerging economies.
Side-Effects Associated with Long-Term Usage
The long-term usage of a CPAP device is associated with various side-effects such as aerophagia, claustrophobia, dry nose, and sleeping disorders. Furthermore, the adherence rate for CPAP therapies is also negatively impacted by the side-effects.
Market Opportunities
Development of Smart CPAP Devices
Owing to the rising focus on remote patient monitoring, mobile health applications, and integration of telemedicine in treatment and diagnostic aspects of healthcare, the development of smart CPAP devices offers a novel opportunity to both established and emerging players.
Digitization of Device Training Modules to Promote Adoption
One of the primary concerns during the COVID-19 pandemic was the lack of trained medical staff for operating a ventilator or a CPAP device. Moreover, the global shutdown of non-essential services hindered the training delivery by the manufacturers. The hindrance, however, could be overcome by the development of digital training modules for the devices. Manufacturers can develop similar training modules for portable devices used, especially in homecare settings, in line with the latest trend of healthcare at-home. The development of such models is expected to facilitate instant customer support, troubleshooting, and streamlined functioning of the device.
Key Companies in the Global CPAP Market
Some of the key players contributing to the global CPAP market include Airon Corporation, APEX MEDICAL CORP., 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) and VYAIRE MEDICAL, INC.
Key Questions Answered in this Report:
• How has COVID-19 impacted the adoption of CPAP devices in the market?
• What are the key regulations which influence the adoption of CPAP devices in the market?
• What are some of the key brands in the global and regional CPAP market?
• Who are the top competitors in each region?
• What are some of the key factors influencing the growth in adopting CPAP devices across the globe?
• How do the brands compare against each other in terms of unit shipments?
• What are the fastest-growing countries in terms of CPAP adoption?
• Which are the key diseases driving the adoption of CPAP devices across the world?
• What are the key strategies being adopted by market players in the global CPAP market?
• Who are the most common end-users of CPAP devices, and how are the end-use segment expected to grow in the future?
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In addition, the report provides:
• A detailed analysis and growth forecast (2020-2026) for different end-users
• Recent developments and trends in the global market landscape
• Factors promoting and inhibiting the market growth
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