Continuous Positive Airway Pressure (CPAP) Device Market to Reach US$ 4 Billion by 2026, Globally |CAGR: 9% | UnivDatos Market Insights
Oct 30, 2020, 11:00 ET
NOIDA, India, Oct. 30, 2020 /PRNewswire/ -- UnivDatos Market Insights released a report titled "Continuous Positive Airway Pressure CPAP Devices Market By Automation (Manual CPAP Devices, Automatic CPAP Devices); Component (CPAP Motors, CPAP Humidifier, CPAP Masks, CPAP Other Accessories); Application (Sleep Apnea, COPD, Others Diseases); End-User (Hospitals & Clinics, Home Care, Others (Sleep laboratories) and Region (North America, Europe, Asia-Pacific and Rest of World) - Current Analysis and Forecast (2019-2026)." Continuous Positive Airway Pressure (CPAP) Device Market is expected to grow at a CAGR of 9% from 2021-2026 to reach US$ 4,151.2 million by 2026.
Market Opportunities and Drivers
Across the world, more than 1.9 billion adults aged 18 years and older were overweight and 340 million children and adolescents aged 5-19 were overweight or obese in 2016 and the number is increasing each day. Further, according to International Sleep Experts estimate, nearly 1 billion people have been suffering from sleep apnea worldwide.
Continuous positive airway pressure therapy (CPAP) uses a device that makes it easier for a person with obstructive sleep apnea (OSA) to breathe during sleep. A CPAP device increases air pressure in a person's throat so that their airway doesn't collapse when they breathe in. Consistent rise in the number of patients suffering from sleep disorders, obesity, and respiratory problems are among the major factors supplementing the demand for continuous positive airway pressure (CPAP) device. Increasing prevalence of such ailments coupled with advancements in technology further expected to boost the market growth of CPAP Devices.
For detailed analysis on the Global Continuous Positive Airway Pressure (CPAP) Device Market browse through https://univdatos.com/report/continuous-positive-airway-pressure-cpap-devices-market-current-analysis-and-forecast-2020-2026
Coronavirus cases keep on growing across the globe. According to the estimates, nearly 5% of COVID-19 patients need ventilation, with numbers rising to 89% for those in the intensive care unit (ICU). CPAP device proves to be one of the effective management machines for critical patients in the absence of ventilators. The shortage of ventilators compelled the healthcare experts to opt for the alternative devices which deliver respiratory support to critical patients during this pandemic. CPAP devices with some modifications provide effective management in delivering proper respiratory support to these patients. Witnessing such benefits of the CPAP devices and lack of ventilators is expected to drive the market growth of CPAP devices during the pandemic crisis.
For detailed analysis on the demand in Global Continuous Positive Airway Pressure (CPAP) Device Market browse through https://univdatos.com/report/continuous-positive-airway-pressure-cpap-devices-market-current-analysis-and-forecast-2020-2026
The primary reason driving the market of CPAP devices is the increasing prevalence of sleep apnea disorder globally owing to obesity, increasing cardiovascular diseases, diabetes, and other such diseases globally. Further, advancements in technology and the shortage of ventilators during the COVID-19 pandemic also boost the growth of CPAP devices.
Global Continuous Positive Airway Pressure (CPAP) Device Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Automation, the market is primarily bifurcated into
Manual segment dominated the automation segment of the global continuous positive airway pressure (CPAP) device market and will grow at 7.29% CAGR to reach US$ 2,646.7 million by the year 2026.
By Component, the market is primarily segmented into
- CPAP Motor
- CPAP Humidifier
- CPAP Masks
- Other Accessories (filter, hoses)
Amongst components, CPAP motor accounted for the largest share and is expected to grow at 7.91% CAGR during the forecast period 2021-2026. At the same time, CPAP masks are expected to register the highest CAGR growth during the analyzed period.
By Application, the market is primarily studied into
- Sleep Apnea
In 2019, Sleep Apnea dominated the continuous positive airway pressure (CPAP) device market with nearly 50% of the market share and it is anticipated by 2026, the segment will garner US$ 2,267.2 million of the market.
By End-User, the market is primarily fragmented into
- Hospitals & Clinics
- Home Care
- Others (Sleep Laboratories)
In 2019, Hospitals & Clinics dominated the continuous positive airway pressure (CPAP) device market with nearly 60% of the market share and is expected to grow at a CAGR of 8.11% over the analyzed period.
For detailed analysis on the segments in Continuous Positive Airway Pressure (CPAP) Device Market browse through https://univdatos.com/report/continuous-positive-airway-pressure-cpap-devices-market-current-analysis-and-forecast-2020-2026
Continuous Positive Airway Pressure (CPAP) Device Market Geographical Segmentation Includes:
- North America (the United States, Canada and Rest of North America)
- Europe (Germany, Russia, Spain, France, United Kingdom and Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia and Rest of Asia-Pacific)
- Rest of World
Based on the estimation, North America dominated the continuous positive airway pressure (CPAP) device market with almost 35% of the market revenue in 2019. At the same time, the Asia-Pacific region is expected to grow at the highest CAGR over the forecast period owing to increasing awareness regarding sleep apnea and increasing per capita healthcare spending in the region.
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The major players targeting the market includes
- 3B Medical, Inc.
- Philips Respironics
- Nidek medical
- Fisher and Paykel Healthcare
- Teijin Pharma Limited
- Drive DeVilbiss Healthcare
- Koike Medical
- BMC Medical Co., Ltd.
- Fosun Pharma
The competitive landscape has been provided pointing out the position of the key market players in the market along with the market share that is held by major players. These players are constantly working on expanding the market reach through M&A's along with partnerships.
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