Meticulous Research® – leading global market research company published a research report titled “Sleep Apnea Devices Market by Type (Therapeutic Devices (CPAP, APAP, BPAP, ASV, Oral Appliances, Masks)), Diagnostic Devices (PSG, Oximeter, Home Sleep Testing Devices), End User (Hospitals & Sleep Labs, Home Care Settings/Individuals) - Global Forecast to 2027”.
According to this latest publication from Meticulous Research®, the sleep apnea market is expected to grow at a CAGR of 10.3% from 2020 to 2027 to reach $12.9 billion by 2027. This market is majorly driven by the factors such as large number of undiagnosed sleep apnea patients, increasing public and clinical awareness about sleep apnea with growing public & private sector initiatives, substantial venture capital funding, growing usage of oral appliances, and technological advancements in sleep apnea devices. However, the high cost of CPAP Machines and high cost of diagnosis and treatment of sleep apnea are some of the key factors inhibiting the growth of this market.
The global sleep apnea market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented on the basis of type, end user, and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on type, the therapeutic devices segment is estimated to command the largest share the overall sleep apnea market in 2020, as well as projected to grow with the fastest CAGR during the forecast period, owing to factors such as rising adherence to sleep apnea therapy with rising awareness on sleep disorders, rising acceptance & demand for oral appliances, improving reimbursement scenario, and growing healthcare expenditure and disposable income in emerging countries.
Based on therapeutic devices type, the therapeutic devices market is further segmented into positive airway pressure (PAP) devices, masks, oral appliances, adaptive servo-ventilators, accessories, and oxygen devices. Among these, positive airway pressure (PAP) devices segment is estimated to account for the largest share of the overall sleep apnea therapeutic devices market in 2020, owing to its frequent use as first line treatment for sleep apnea; availability of different type of flow generators suitable for any patient needs; and its noninvasive nature, higher effectiveness, and faster control of OSA symptoms.
Based on type, the diagnostic devices market is segmented into polysomnography devices, home sleep testing devices, oximeters, and actigraphy system. The home sleep apnea testing devices segment is estimated to grow at the fastest CAGR during the forecast period, owing to the factors such as rising demand of devices used in homecare testing and improving reimbursement scenario for devices used in homecare settings.
Based on end user, the sleep apnea market is segmented into hospitals & sleep laboratories and home care settings/individuals. The home care settings/individuals segment is estimated to account for the largest share of the overall market in 2020. The leading share of this segment is primarily due to the major sale of the sleep apnea devices by manufacturers through home healthcare dealers with the increasing use of therapeutic devices, related accessories, and home sleep testing products from existing and new sleep apnea patients at home care settings or patient’s residence.
Check complete table of contents with list of table and figures:https://www.meticulousresearch.com/product/sleep-apnea-devices-market-5095/
Geographically, North American region is estimated to command the largest share of the overall sleep apnea devices market in 2020, owing to higher demand for sleep apnea devices due to the comparatively higher share of the sleep apnea diagnosis in the region, higher adoption of advanced medical devices in the healthcare system, and well established healthcare system with a wide network of suppliers & distributors. In addition, rising initiatives by the government & private players to increase the awareness among population, higher & rising healthcare expenditure, availability of the technologically upgraded products from the key players in the region, and increasing spending for product innovation are further expected to support the growth in this market during the forecast period. However, the Asia-Pacific region is expected to grow at the fastest CAGR during the forecast period
The key players together holding the major share of the global sleep apnea market are ResMed Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), and Fisher & Paykel Healthcare (New Zealand). Other notable key players operating in this market are BMC Medical Co., Ltd. (China), Braebon Medical Corporation (Canada), Compumedics Limited (Australia), DeVilbiss Healthcare (U.S.), Löwenstein Group (Germany), Oventus Medical (Australia), Panthera Dental (Canada), SomnoMed Limited (Australia), and Mitsui Chemicals, Inc. (WholeYou) (U.S.), among others.
Key questions answered in the report-
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