The Global Continuous Positive Airway Pressure (CPAP) Market is projected to grow at a CAGR of 7.70% in the forecast period of 2022-27, cites MarkNtel Advisors in their recent research report. The market is driven by the growing deployment of CPAP machines across healthcare facilities like hospitals & clinics to address the high population of patients with respiratory & sleep disorders and the burgeoning sector.
In addition, massive investments by the governments of different countries in the healthcare sector to strengthen the overall infrastructure and stock all the necessary equipment are also augmenting the demand for CPAP devices and stimulating the market. This change has been prevalent since the advent of the Covid-19 pandemic, positively influencing the industry & shall prevail in the same in the coming years.
Besides, ongoing technological developments in CPAP machines, such as autonomous air pressure regulators that require minimal assistance & provide more comfort, & demonstrate a significant rise in the demand for CPAP devices. The same aspect is also instigating the players to increase their production & distribution capacities for CPAP & actively indulge in the research & developments of the system to store enormous amounts of data for better clinical results & minimal human errors, thereby driving the market, further states the research report, “Global Continuous Positive Airway Pressure (CPAP) Market Analysis, 2022.”
Hospitals & Clinics to Take Over the Market with the Highest Demand
Based on the End users, the Continuous Positive Airway Pressure (CPAP) Market is dominated by Hospitals & Clinics and is anticipated to prevail in the same trend during the forecast period. This growth attributes to the mounting population of the elderly population with the critical need for emergency & long-term hospitalization, stimulating the demand for CPAP devices.
In addition, high birth rates and a population of premature babies exhibiting severe respiratory issues are further propelling the need for appropriate CPAP equipment & bolstering the overall market growth.
Moreover, among the geriatric population with concomitant obstructive sleep apnea & cardiovascular disease, persistent adherence to continuous positive airway pressure lowers the risk of 30-day hospital readmission, according to a critical finding by the American Academy of Sleep Medicine. Hence, based on such parameters, the demand for CPAP is set to mount substantially across Hospitals & Clinics in the coming years.
Obstructive Sleep Apnea Patient Pool in North America Driving the Market
On the geographical front, North America held a considerable share in the Continuous Positive Airway Pressure (CPAP) Market and shall maintain its dominance in the coming years. This growth attributes to the high prevalence of OSA patients in the region entwined with the growing awareness among people about the effectiveness & availability of these cutting-edge innovations in devices like CPAP.
As a result, the leading players are observing an upsurge in its demand, instigating them to increase their production & distribution capacities to cater to the burgeoning requirements in North America.
The leading players in the Global Continuous Positive Airway Pressure (CPAP) Market are Apex Medical Corp., Airon Corporation, 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 the Research Report