Growth of sleep apnea devices market driven by large pool of undiagnosed sleep apnea patients, growing awareness about ill effects of untreated sleep apnea, growing usage of oral appliances, technological advancements in sleep apnea devices, considerable venture capital funding.
sleep apnea devices market projected to reach 7.5 billion by 2024 from USD 4.5 billion in 2019 at a CAGR of 10.7%. High cost of CPAP machines and complex referral pathways & long waiting periods may prove to be restraints for market. Report also studies the increasing number of companies venturing into sleep apnea & oral appliances markets. An increasing pool of undiagnosed sleep apnea patients, improving reimbursement scenario for these devices, & growth in usage of oral appliances are some of key factors which are expected to fuel market growth during forecast period.— The global
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The sleep apnea devices market has been segmented into therapeutic devices and diagnostic devices. The therapeutic devices segment accounted for the largest share of the market during the forecast period and is projected to register the highest CAGR. The large share and high growth in the therapeutic devices segment can be attributed to the increasing pool of undiagnosed sleep apnea patients and the improving reimbursement scenario for these devices across the globe.
“Asia Pacific region of sleep apnea devices market is expected to grow at highest rate during the forecast period.”
The portfolio of devices used in sleep laboratories and hospitals is limited mainly to diagnostic devices, such as clinical PSG devices, actigraphy systems, and tabletop pulse oximeters. There is a growth in the number of sleep labs and sleep tests performed using a clinical polysomnography device globally, as these tests are being considered the standard diagnostic test for sleep apnea over a long period of time.
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Geographically, sleep apnea devices market segmented into North America, Europe, Asia Pacific (APAC), & Rest of the World. Asia Pacific market expected to grow at highest rate during forecast period. Higher growth in region is attributed to factors like presence of a large undiagnosed patient pool in countries like India, strategic agreements between global market leaders & regional players, & initiatives undertaken by government & private organizations to raise awareness regarding sleep disorders in region.
Breakdown of supply-side primary interviews:
• By Company Type: Tier 1 – 55%, Tier 2 – 40%, and Tier 3 – 5%
• By Designation: C-level – 37%, Director-level – 48%, and Others – 15%
• By Region: North America - 56%, Europe – 20%, APAC – 17%, and RoW – 7%
Major players in sleep apnea devices market include ResMed (US), Koninklijke Philips (Netherlands), Fisher & Paykel Healthcare (New Zealand), SomnoMed (US), Oventus Medical (Australia), Compumedics (Australia), Löwenstein Medical (Germany), Drive DeVilbiss Healthcare (US), BMC Medical (China), Braebon Medical (Canada), and Panthera Dental (Canada).
More Information “Sleep Apnea Devices Market by Type, (Therapeutic (CPAP, APAP, Masks, ASV, Oral Appliances, Mandibular Advancement Device)), Diagnostic (PSG, Oximeter), End User (Sleep Laboratories & Hospitals, Home Care Settings/Individuals) - Global Forecasts to 2024” Report at https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=802308 .
This report studies the sleep apnea devices market based on type, end user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.
Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the sleep apnea devices market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
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