ResMedRMD recently expanded its AirFit mask portfolio with the introduction of its first minimal-contact full face CPAP mask - AirFit F30. The company plans to launch the product in selected geographies in late-2018.
AirFit F30 in Detail
FeaturingResMed's latest QuietAir vent, AirFit F30 helps users sleep comfortably, decrease facial marks and wear glasses in bed. Moreover, the mask is easy to put on and take off as it comes with magnetic clips. Per a ResMed study, AirFit F30 could fit 93% of users well in spite of having just two cushion sizes and one headgear.
Per the company, the AirFit F30 will also permit faster setups and simpler inventory management for home medical equipment providers.
Globally, over 100 million are estimated to be suffering from sleep apnea (per an article published on The Sleep Zone). The increasing incidence has driven demand for sleep apnea devices. Per a report by MarketsandMarkets, the global sleep apnea devices market is expected to see a CAGR of 7.8% to reach $6.49 billion between 2018 and 2023.
Going by the same report, North America is projected to be the largest market for sleep apnea devices in 2018.
Rising healthcare expenditures, increasing obesity, unhealthy lifestyle practices along with expanded treatment options are expected to continue driving demand for sleep apnea devices. In view of the data, we believe the latest development will help ResMed cash in on opportunities in this niche market.
Strong Emphasis on Product Development
In order to maintain its leadership position in the SDB market and to expand its sales base, ResMed is focusing on product development and innovation. In this regard, ResMed is encouraged with the positive feedback pertaining to the QuietAir technology, which is part of the AirFit F20 full face mask.
Loaded with innovation to improve mask fit, comfort and ease of use, the new-generation ResMed masks are the result of more than three years of research and development. In addition, the company is seeking new applications for significant unmet medical needs.
Further, ResMed continues to see strong adoption of AirFit F20 full face mask and AirFit N20 nasal mask products globally. The company also seems to be upbeat about the success of its N20 Classic, which is designed particularly for countries in Europe.
Share Price Performance
Over the past year, shares of ResMed have outperformed its industry . Per the latest price movement, the stock has gained 41.8% compared with the industry's rise of 19.9%.
Zacks Rank and Key Picks
ResMed carries a Zacks Rank #3 (Hold).
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