Sleep Apnea Devices Market to Grow with a CAGR of 7.9% During 2016-2025

According to a new market research study titled 'Sleep Apnea Devices Market to 2025 - Global Analysis and Forecasts by Diagnostic Devices, Therapeutic Devices and End-Users, the global sleep apnea devices market was valued at US$ 4,607.9 Mn in 2017 and is estimated to reach US$ 8,305.3 Mn by 2025. The report highlights the trends prevalent in the global sleep apnea devices market and the factors driving the market along with those that act as deterrents to its growth.

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Globally, sleep apnea market exhibits potential growth in developed as well as developing regions across the globe. Further, rising prevalence of sleep apnea among adults determines the market growth. Also, the prevalence of sleep apnea is found to be increasing among the adults as well as children, across the globe. As per the American Sleep Apnea Association, in 2017, 22 million Americans suffer from sleep apnea.

Another factor driving the market growth is increasing demand for Positive Airway Pressure (PAP) devices due to rising awareness about sleep disorders among the general population and availability of wide range of products in the market. However, the market is retrained by various factors such as absence of patient compliance.

In North America, the growth of the market is attributed to presence of key players, extensive use of diagnostic and therapeutic devices for sleep apnea and focus on early diagnosis and treatment of chronic diseases. Furthermore, people in the US are now aware about the importance of diagnosis of sleep apnea among the children, which further influences the market growth.

New product launch by market players such as BMC, ResMed and Fisher & Paykel Healthcare Limited boost the growth of the market. For instance, in April 2016, BMC launched Polypro sleep monitoring device which is a home sleep testing device and portable PSG. The product is easily accessible in sleep labs because of the mobile application of Polypro.

Asia Pacific is expected to be the fastest growing market, with China, Japan and India being the largest contributors to the growth of the market. In Asia Pacific, the market is driven by rising prevalence of sleep disorder and key market players focusing on Asia Pacific for tapping new markets and strengthening their geographical presence.

In July, 2016, Dehaier Medical Systems entered into a partnership with China Sciences Group to provide its wearable sleep apnea products to provide to the pension and health industry.

The key players operating in the field of sleep apnea devices are ResMed Inc., Koninklijke Philips N.V., Fisher & Paykel, Braebon Medical Corporation, Compumedics Limited, BMC Medical Co., Ltd., Fisher & Paykel Healthcare Limited, SomnoMed Limited, Weinmann Emergency Medical Technology GmbH + Co. KG, Devilbiss Healthcare LLC and others.

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