ResMed Inc. RMD launched AirFit F30i, which is its first tube-up, full-face continuous positive airway pressure (CPAP) mask. With the launch, the company has completed its full-face mask portfolio in the market.
With the launch, the full-face CPAP users will now have an option of choosing among the type of connection (tube-up or tube-down), cushion styles (compact under-the-nose or traditional over-the-nose) as well as memory foam versus silicone cushion. AirFit F30i, which is being preferred by customers for features like a dependable seal and a comfortable under-the-nose fit for active sleepers, also completes ResMed’s Freedom category of tube-up masks.
Notably, other offerings like nasal tube-up AirFit N30i (released in January 2019) and nasal pillows tube-up AirFit P30i (released in April 2019) are available for users. With the latest launch, ResMed aims to strengthen its Sleep and Respiratory Care segment globally.
Significance of the Launch
The company believes that the design of AirFit F30i will make it easier for users to sleep in any position, without any soreness or irritation on the nasal bridge. Also, users need not take off the mask, while adjusting the tubing.
The company has presented favorable outcomes in a direct comparison study, where most patients preferred AirFit F30i over other full-face masks available in the market based on its design.
Per a report by MarketsAndMarkets, the global respiratory care devices market is expected to reach $31.8 billion by 2024 from $20.6 billion in 2019, witnessing a CAGR of 9.1%. Factors like rising demand for enhanced portable and compact respiratory care devices, growing demand for multimodal ventilation, and the increasing adoption of non-invasive ventilation are likely to drive the market.
Given the market potential, the launch has been timed well.
ResMed launched AirFit N30, the first tube-down nasal cradle CPAP mask with a front-facing tube, in October 2019. With the launch, the company broadened its treatment option for sleep apnea.
Further, in October, ResMed entered a partnership with Cerner Corporation CERN to help care providers make better treatment decisions, manage costs, and deliver seamless care in both health systems and home.
Shares of ResMed have gained 36.7% in the past year compared with the industry’s 16.2% growth.
Zacks Rank & Key Picks
Currently, the company carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the broader medical space are Haemonetics Corporation HAE and Medtronic plc MDT.
Haemonetics currently sports a Zacks Rank #1 (Strong Buy) and has a projected long-term earnings growth rate of 13.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Medtronic’s long-term earnings growth rate is expected at 7.4%. It currently has a Zacks Rank #2 (Buy).
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