Sleep Apnea Devices Market Worth US$ 6.70 Billion by 2023 - Emerging Trends, Industry Forecast, Segmentation and Top Technologies

The global sleep apnea devices market highlights product, end user, and region Get Free Market Updates Now at https://www.reportsnreports.com/contacts/requestsample.aspx?name=802308 .

Sleep apnea devices market is projected to reach USD 6.70 billion by 2021 from USD 4.59 billion in 2016, growing at a CAGR of 7.8% during forecast period. Growth of overall sleep apnea devices market can be attributed to growing awareness regarding ill effects of sleep apnea, growing usage of oral appliances for sleep apnea treatment, & large pool of undiagnosed and untreated sleep apnea patients. The global Sleep Apnea Devices market segmented on basis of product and end user. On basis of product, the market is categorized into therapeutic devices and diagnostic devices. In 2016, therapeutic devices segment is projected to command largest share of global sleep apnea devices market. This segment is also expected to grow at the highest growth rate in forecast period.

U.S. sleep apnea devices market accounted for largest regional share in 2016, due to high prevalence of sleep related diseases, advanced healthcare services, increased investment in R&D and presence of advanced technology products in the country. Moreover, presence of Medicare reimbursement policies for therapeutic devices such as CPAP (Continuous Positive Airway Pressure) device will boost sleep apnea devices market size over the forecast period.

Factors such as growing awareness regarding ill effects of sleep apnea, growing usage of oral appliances for sleep apnea treatment, & large pool of undiagnosed and untreated sleep apnea patients are driving growth of market. Additionally, technological advancements in sleep apnea devices is also supporting growth of market. On other hand, lack of patient compliance and alternative treatments for sleep apnea are factors restricting market growth to a certain extent.

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Some of the substitutes for sleep apnea include tongue retracting devices, jaw repositioning devices and tissue removal systems. These substitutes may hinder industry growth. Increasing investment in research and development activities by industry players to launch novel products is the major focus of companies. Innovative devices include winx sleep-therapy system and compact sleep apnea devices aid patient compliance due to comfort provided by the devices. Industry players are also focussing on merger and acquisition strategies for the expansion of their presence in emerging markets such as Brazil, India and China.

ResMed, Inc. (U.S.), Philips Healthcare (Netherlands), and Fisher & Paykel Healthcare Ltd. (New Zealand)dominated the global sleep apnea devices market. The other players include SomnoMed Ltd. (Australia), Compumedics Limited (Australia), Weinmann Medical Devices GmbH (Germany), Whole You, Inc. (U.S.), BMC Medical Co., Ltd. (China), DeVilbiss Healthcare (U.S.), and Braebon Medical Corporation (Canada).

North America dominates the global sleep apnea devices market, followed by Europe and Asia Pacific respectively. High awareness among the populace and favorable reimbursement scenario make North America a key market for sleep apnea devices. Several other factors such as venture capital funding, new legislation of PAP devices and growth of funding and grants for development in manufacturing units of sleep apnea devices are prime reasons to boost market growth in several European countries.

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Apart from obesity, various factors such as smoking, hereditary existence, menopause, consumption of medicines with sedative effects, having long neck, alcohol consumption, and improper sleeping habits are also responsible for prevalence of this disorder.

In-depth interviews were conducted with CEOs, sales and marketing directors, other innovation and technology directors, and executives from various key organizations operating in the sleep apnea devices market.

• By Company Type: Tier 1: 50%, Tier 2: 42%, Tier 3: 8%
• By Designation: Director Level: 58%, C-level: 25%, Others: 17%
• By Region: North America: 51.9%, Europe: 32.6%, APAC: 10.5%, RoW: 5.0%

On basis of diagnostic devices, PSG devices segment is estimated to account for largest share of market in 2016. These devices are used to study sleep patterns and physiological functions of a patient during sleep. Furthermore, single-channel screening devices segment is projected to register highest CAGR during forecast period. High growth of this segment can be attributed to its noninvasive and painless cardiorespiratory monitors that are used to assess oxygen saturation level of arterial blood.

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