Sleep Apnea Devices Market Size Worth USD 8.81 billion by 2026 | AllTheResearch

Technological advancements in terms of modern healthcare devices which is coupled with an ever-increasing need for detecting and treating challenging disorders are some of the major factors driving the global sleep apnea devices market

The global sleep apnea devices market was valued at USD 4.35 billion in 2018 and is expected to reach USD 8.81 billion in 2026, growing at a CAGR of 9.2% during the forecast period.

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Sleep apnea is defined as a human breathing disorder that results in symptoms such as loud snoring and choking during sleeping. Sleep apnea usually consists of three types which include obstructive sleep apnea, central sleep apnea, and complex sleep apnea syndrome. Fluctuation in breathing, loud snoring, occasional choking or snorting, lack of sleep and conscious attention, etc. are some of the major symptoms of sleep apnea disorder. Sleep apnea usually occurs due to obese physical structure, the large circumference of the neck, smoking, and drinking habits, among others. Sleep apnea devices are developed in order to trace and treat this disorder as it is very difficult to detect with normal methods.

The sleep apnea devices industry is primarily driven by an increase in the obese population and growing awareness for better health. Moreover, the availability of large venture capital funds to develop and offer the most efficient and technologically sound sleep apnea device is further propelling the industry's growth. Key industry players are increasingly focussing on untapped markets in developing regions such as China and India to gain an industry stronghold.

Key Findings:
-Based on the type, the diagnostic devices segment is estimated to lead the market in 2018
-Based on diagnostic devices sub-type, the polysomnography devices segment is expected to grow at the highest CAGR of around 14% during the forecast period
-Based on the therapeutic devices sub-type, the oral appliances and accessories segment is anticipated to grow at the fastest rate of 13% during the forecast period
-Based on end-user, the sleep laboratories & hospitals segment came out as a leading sector for the global sleep apnea devices market by accounting for more than 78% of the total market, in 2018
-On the basis of region, the North America region which is fuelled by growth in banking and online retail segment, accounted largest market share globally by contributing more than 37% share in 2018

Recent News:
-In July 2019, US-based sleep apnea devices solution provider ResMed announced the launch of AirFit N30i, which is its first top-of-head-connected nasal CPAP mask
-In May 2016, Koninklijke Philips (Netherlands) introduced its sleep apnea device solutions in form of DreamWear mask, DreamStation PAP device, and DreamMapper patient engagement app.

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