The Global Sleep Aids Market was worth $59.6 billion in 2016 and estimated to be growing at a CAGR of 6.32%, to reach $83.8 billion by 2021
Hyderabad, India -- (SBWIRE) -- 02/22/2018 -- When airway is blocked during sleep it causes sleep disorder or sleep apnea. The main reason behind the cause for sleep apnea is the oxygen deficiency. It additionally distorts the sleep cycle because the person is jerked awake as a result of the reflex action of the brain to heightened CO2 levels.
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The global Sleep Apnea Devices market is estimated to have a value of USD 6.9 billion in 2017. With a CAGR of 7.8%, the market size is expected to grow rapidly to cross USD 10.04 billion by 2022. The market growth apart from need of using those devices are due to rapid changes in technologies resulting in wide variety of devices and growing awareness regarding high blood pressure and prevalence of chronic diseases.
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The augmented use of Positive Airway Pressure (PAP) devices in therapeutics operations has led to their significant market share among sleep apnea devices market products. Technological advancements have created these devices compact, comfortable, and simple to use to make sure of better patient compliance; this can be expected to ensure steady growth for the PAP devices market in the near future years. The single-channel screening devices category is projected to register the highest growth rate throughout the forecast period in the sleep apnea diagnostics devices market. The high rate of growth of single-channel screening devices can be attributed to its noninvasive and painless cardiopulmonary monitors that are accustomed to assess and control the oxygen saturation level of blood. The diagnostic segment dominated the market in comparison to therapeutic devices occupying about 58% of global market share.
Based on research reports about half of the general adult population are snorers. The fact that all the people are in need for sleep apnea devices promotes the growth of the market. In 2014 about 30 million people from America are suffering from sleep apnea, yet 80% of the population remains still undiagnosed.
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As of now, North America with its advanced cutting-edge technologies and sophisticated health care accounts for the largest share of global sleep apnea devices market, followed by Europe and the Asia Pacific.
The major market contributors for the global sleep apnea devices market are ResMed, Inc. (U.S.), Philips Healthcare (Netherlands), and Fisher & Paykel Healthcare Ltd. (New Zealand). Other players in the market include SomnoMed Ltd. (Australia), Compumedics Limited (Australia), Weinmann Medical Devices GmbH (Germany), Whole You, Inc. (U.S.).
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