Continuous Positive Airway Pressure Market Size to Grow at a CAGR of 7.8% During the Forecast Period 2020-2025
Continuous Positive Airway Pressure Market size in 2019 is estimated to be $ 2,462.86 million, growing at a CAGR of 7.8% during the forecast period 2020-2025. Continuous positive airway pressure (CPAP) devices are used in the treatment of choice for obstructive sleep apnea syndrome. CPAP works by blowing air into the nose and throat. The blow causes positive pressure to hold the upper airway open during sleep and thus helps in the treatment of snoring. Moreover, it increases the air pressure in the throat to avoid airway from collapsing when breathing. It can be used every night at home while sleeping. Increasing prevalence of sleep disorders and technological advancement are the major factors driving the growth of the market. Moreover, rising geriatric population and advancement of R&D activities further enhance the overall market demand for continuous positive airway pressure during the forecast period 2020-2025.
Continuous Positive Airway Pressure Market Segment Analysis - By Type
Based on the Type, Continuous Positive Airway Pressure Market is segmented into Manual, Automatic. The automatic segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 7% during the forecast period 2020-2025. Automatic CPAP (Continuous Positive Airway Pressure) is as effective as constant CPAP and the wide pressure range of this device can be used in all patients and in the future the use of broad pressure range in the auto CPAP mode could prevent the need for night titration are contributing to the growth of this segment.
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Continuous Positive Airway Pressure Market Segment Analysis - By End-Use Industry
Based on the End-Use Industry, Continuous Positive Airway Pressure Market is segmented into Hospitals, Clinics, Sleep Centers, Others. In 2019, hospitals held the largest share in the Continuous Positive Airway Pressure Market. This is mainly owing to increasing technological development in hospitals and availability of skilled professional are contributing to the growth of this segment.
Continuous Positive Airway Pressure Market Segment Analysis - By Geography
North America dominated the Market share accounting for 45% of the market in 2019. This is mainly owing to increasing demand for continuous positive airway pressure machines and rising prevalence of sleep disorders. According to American Psychiatric Association, more than 50 million people are suffering from sleep disorders which are contributing the growth of this market.
However, the Asia Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing prevalence of chronic sleep disorder and increasing healthcare expenditure.
Continuous Positive Airway Pressure Market Drivers
Increasing Prevalence of Sleep Disorder
Increasing prevalence of sleep disorder and rising chronic respiratory disease are some factors driving the market growth of this segment. According to World Health Organization, sleep disorders and breathing issues is the most common condition affecting 1 to 6% adults and sleep apnea is more common in adults which are increasing the market growth of continuous positive airway pressure.
Technological Advancement
Technological advancements in CPAP technology are aimed at improving the therapy experience for patients with sleep apnea are some factors driving the growth of the market. Moreover, new technology such as Auto-adjusting devices (autotitrating) monitor the breathing patterns of the user and are contributing to the growth of Continuous Positive Airway Pressure Market.
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Continuous Positive Airway Pressure Market Challenges
High cost and negative effect of devices are challenging the growth of the market. Moreover, lack of technical knowledge are further restraining its market growth during the forecast period 2020-2025.
Continuous Positive Airway Pressure Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Continuous Positive Airway Pressure Market. Continuous Positive Airway Pressure top 10 companies are 3B Medical Inc., Philips Respironics, Nidek Medical, ResMed, Fisher and Paykel Healthcare, Teijin Pharma Limited, Drive DeVilbiss Healthcare, Koike Medical, BMC Medical Co., Ltd., and Fosun Pharma.
Acquisitions/Product Launches:
On July 2011, ResMed has acquisition with BiancaMed in order to advancing innovative technology in sleep and respiratory medicine and commercializing innovative products.
On 23 August 2016, Fisher & Paykel Healthcare Corporation Limited launches new OSA (Obstructive Sleep Apnea) Mask which is designed to be extremely comfortable to wear and easy to use, which gives patients confidence in their therapy.
Key Takeaways
In 2019, North America dominates the Continuous Positive Airway Pressure Market owing to increasing demand for continuous positive airway pressure machines and rising prevalence of sleep disorders.
Increasing prevalence of sleep disorders and technological advancement is driving the market growth of continuous positive airway pressure.
Detailed analysis of the Strength, Weaknesses, and opportunities of the prominent players operating in the market will be provided in the Continuous Positive Airway Pressure Market report.
High cost and negative effects of devices are challenging the growth of the market.
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