Continuous Positive Airway Pressure (CPAP) Devices Market: Current Analysis and Forecast (2020-2026)

Report Description

Global Continuous Positive Airway Pressure (CPAP) device market was valued at US$ 2,475.2 million in 2019 and is anticipated to witness very high growth in 2020 and would reach a market size of US$ 3,425.0 million by the end of 2020. Further, the market is expected to witness a CAGR growth of 8.62% during the 2021-2026 period. Continuous Positive Airway Pressure (CPAP) Devices are majorly utilized for the treatment of sleep apnea. Sleep apnea is a condition that occurs due to the repeated stop and start of the breathing. It may also lead to snoring and daytime sleepiness. This condition has no cure but can be treated with CPAP devices. By 2050, the population is estimated to reach 10 billion on earth, compared to 7.7 billion today. With the rising advancement in science, the life span of people is also increasing. As a result, the number of elderly people per 100 will reach 58 in 2060 from 20 in 1980. The changing demographics will drive the market growth of CPAP devices as sleep apnea is more prevalent in aged people. Moreover, increasing rates of obesity will lead to a higher prevalence of sleep apnea thus increasing the demand.

Apart from the above-mentioned factors, the world is suffering from a major crisis due to the shortage of ventilators for the treatment of COVID-19. Continuous Positive Airway Pressure (CPAP) Devices are used in hospitals as this equipment can help the patients suffering from mild COVID-19. Rising demand for home care will increase the adoption of these devices as they can be operated in the home settings easily. However, the high cost of device and maintenance and poor adherence to CPAP will act as a restraint for the market growth. 3B Medical, Inc., Philips Respironics, Nidek medical, ResMed, Fisher and Paykel Healthcare, Teijin Pharma Limited, Drive Medical, Fosun Pharma, Koike Medical and BMC Medical Corporation are some of the prominent players operating in the Global Continuous Positive Airway Pressure (CPAP) Devices market. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.

Insights Presented in the Report

“Amongst Automation, Manual CPAP devices dominated the market in 2019, accounting for 69.4% share”

Based on Automation, the global CPAP devices market is segmented into manual and automated devices. Both are used for treating sleep apnea. However, Automatic CPAP (APAP) devices are designed to adjust the amount of pressure automatically that is delivered to the patient to breathe by breathe basis. Owing to this Automatic CPAP (APAP) devices are expected to witness the highest CAGR of 11.23% during the forecast period 2021-2026.

“CPAP Motor dominated the component segment market of the global CPAP Devices market in 2019”

Based on components, the global CPAP devices market is segmented into CPAP motors, CPAP humidifiers, CPAP masks and other CPAP accessories including filters and hoses, etc. CPAP Motors dominated the market, generating revenue of US$ 1,159.3 million in 2019. The major change has been observed in the CPAP mask since the invention of the device as earlier masks used to cover the entire face thus, making it difficult for the patients. Currently, CPAP masks are more comfortable and cover less area. CPAP Masks is expected to witness a CAGR growth of 9.44% during the analyzed period.

“CPAP devices are majorly used for Sleep Apnea disorder. The segment accounted for 53.7% revenue share in 2019”

Based on application, the global CPAP devices market is segmented into sleep apnea, COPD and other disorders. CPAP Device application in treating sleep apnea covered the major market share. The rising prevalence of sleep apnea due to increasing obesity rates and rising elderly population will further increase the adoption of CPAP devices for the treatment of sleep apnea disorder.

Continuous Positive Airway Pressure Devices Market Size by Application, Global 2019-2026 (US$ Million)

“Amongst End-User, Hospitals & Clinics are the major adopter of CPAP devices for disease treatment”

Based on End-User, the global CPAP devices market is segmented into hospitals & clinics, home setting and sleep laboratories. Demand for Continuous Positive Airway Pressure (CPAP) devices is highest in the hospitals and clinics due to the rising COVID-19 cases. This equipment is also utilized in the Neonatal Intensive Critical Unit (NICU) for providing support to the neonates who are born with underdeveloped lungs. Moreover, the increasing popularity of homecare will further increase market growth.

“North America dominated the global CPAP devices market and is expected to generate revenue of US$ 1,447.8 million in 2026”

For a better understanding on the market dynamics of the global Continuous Positive Airway Pressure (CPAP) Devices market, a detailed analysis was conducted for different regions and country including North America (the U.S and Canada), Europe (Germany, France, Spain, Italy, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia) and rest of the world has been conducted. In 2020, North America is expected to generate the highest revenue share, owing to increased COVID-19 cases in the United States. Further, it is estimated that the US has the largest market for Continuous Positive Airway Pressure (CPAP) Devices due to the high awareness among sleep apnea patients.

Competitive Landscape

3B Medical, Inc., Philips Respironics, Nidek Medical, ResMed, Fisher, and Paykel Healthcare, Teijin Pharma Limited, Drive Medical, Fosun Pharma, Koike Medical, and BMC Medical are some of the prominent players operating in the Global Household Cleaning Product market. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with more efficient and innovative products.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical availability, estimation of the current demand, and forecasting the future demand of CPAP Devices due to the sudden breakdown of COVID-19 around the world were the three major steps undertaken to create and analyze the availability and demand of CPAP Devices arises due to COVID-19 outbreak. Exhaustive secondary research was conducted to collect the historical numbers and estimate the current demand. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted; with healthcare experts and other industry experts across the value chain of the medical device sector. Post assumption and validation of the numbers through primary interviews, we employed a bottom-up approach to forecast the complete demand size of CPAP Devices. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the availability of CPAP Devices across the COVID-19 most affected region through various sources such as government statements, press releases, journals, news & articles, government publications, competitor publications, research surveys, third-party database and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the overall market, a detailed secondary analysis was conducted to gather historical market size and share for different segments and sub-segments for the global CPAP Devices. The major segments included in the report are automation, component, application and end-user.

Step 3: Factor Analysis:

After acquiring the historical market size of major segments and sub-segments detailed factor analysis was conducted to estimate the current market of the global CPAP Devices. Factor analysis was conducted using dependent and independent variables such as the rising prevalence of sleeping disorders, greater incidence of sleep apnea in the elderly population and increasing demand for CPAP-therapy, etc. Historical trends of the global CPAP Devices and their year-on-year impact on the market size and share in the recent past were analyzed. The demand and supply-side scenario were also thoroughly studied.

Current Market Size Estimate & Forecast

Current Demand Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in the markets, market shares of these players and the industry’s supply chain. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including market drivers, restraints, trends and opportunities available for stakeholders in the industry. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up/Top-down was applied to arrive at the market forecast to 2026 for different segments. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value and rate of adoption of CPAP Devices globally
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in major applications and markets as well as the market share of each player. Also, the growth strategies adopted by these players to compete in the ever-growing global CPAP Devices market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including top medical professionals, research experts from major universities, health institutes, top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall demand estimation and to arrive at precise statistical numbers for each studied regions.

Main objective of the Global CPAP Devices Market Study

The current & future CPAP Devices demand trends were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future demand trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and demand forecast of CPAP Devices due to COVID-19 outbreak
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors about the industry
• The major region studied in the report include North America (the US and Canada), Europe (Germany, France, Spain, Italy, and United Kingdom), Asia-Pacific (China, Japan, India and Australia) and Rest of World
• Define and analyze the competitive landscape of the CPAP Devices market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Define and analyze the government regulations for CPAP Devices in major markets