ResMed RMD has introduced AirFit N30, which is the first tube-down nasal cradle continuous positive airway pressure (“CPAP”) mask, with a front-facing tube. This will present the latest treatment option for patients with sleep apnea.
Per the company, the mask is easy to use and has been designed to make patients feel comfortable.
With the availability of the product, ResMed aims to strengthen position in the global sleep apnea devices market.
Significance of AirFit N30
AirFit N30 is the latest addition to the company’s existing portfolio of Minimalist CPAP masks, including AirFit P10 nasal pillows mask and AirFit F30 minimal-contact full-face mask.
Per the company, AirFit N30 is the lightest mask currently available. The adjustable elastic headgear along with a comfortable nasal cradle cushion eliminates soreness and secures the area while sleeping.
The company believes that with such innovations, approximately 936 million people worldwide, suffering from sleep apnea, will be able to continue the CPAP therapy.
Per a report by MarketsAndMarkets, the global market for sleep apnea devices is estimated to grow from $4.5 billion in 2019 to $7.5 billion by 2024, witnessing a CAGR of 10.7%. The key factors driving the market include a huge number of undiagnosed sleep apnea patients and the growing awareness regarding the effects of untreated sleep apnea.
Given the current market prospects, the product has been launched at just the right time.
ResMed has introduced AirFit P30i in April 2019, which is the second product in its nasal pillow portfolio. The company also introduced Advanced Analytics in the same month, which is the first analytics platform for HMEs, which highlights workflow insights, KPI tracking and peer benchmarking, without requiring users to aggregate data.
The company’s shares have gained 29.4% in the past year compared with the industry’s growth of 3.6%. Also, the S&P 500 index rose 9.1% during the same period.
Zacks Rank & Key Picks
Currently, ResMed carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the broader medical space are Aphria Inc APHA, Owens & Minor, Inc OMI and Surmodics, Inc SRDX.
Aphria, currently carrying a Zacks Rank #2 (Buy), has projected first-quarter 2020 earnings growth rate at 113.33%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Owens & Minor estimates earnings growth rate of 300% for third-quarter 2019. It currently sports a Zacks Rank #1.
Surmodics, with a Zacks Rank #1, has projected earnings growth rate of 141.67% for fourth-quarter 2019.
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