At 7.5% CAGR Sleep Apnea Devices Market to beat USD 9 bn by 2024

Selbyville, DE -- (SBWire) -- 01/07/2019 --The Sleep Apnea Devices Market set to exceed USD 9 billion by 2024; according to a new research report by Global Market Insights.

Advancements in technology for sleep apnea devices led to the development of various conventional therapies for treatment of sleep apnea. Furthermore, several companies are engaged in developing advanced devices which increases demand for such devices. Large untapped opportunities in emerging nations will boost industry growth over the forecast timeframe. Rising awareness regarding sleep apnea diseases among people and favourable reimbursement scenario will improve adoption rate of devices.

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In the recent times, sleep apnea devices market has been witnessing commendable growth owing to the drastic changes in lifestyle across the globe. Add to it, the growing prevalence of obesity among the general populace has resulted in increasing incidence rate of obstructive sleep apnea. It would be prudent to mention that untreated sleep apnea is known to alleviate the occurrence of stroke, various heart diseases, and diabetes. Apparently, numerous sleep apnea devices industry players have been deploying extensive resources in an effort to develop technologically advanced devices to significantly lower the ill-effects of this disorder.

Speaking of the regional growth potential of sleep apnea devices industry, U.S. apportioned the largest revenue share in 2016, as per reliable estimates. Owing to the presence of high-grade technology products, increased investment in research and development, advanced healthcare services, and high prevalence of sleep related ailments in the nation, the requirement for novel sleep apnea devices is on the rise. According to National Sleep Foundation, approximately 18 million American adults are struggling to cope with sleep apnea and the number of children suffering with obstructive sleep apnea has been on the rise. As a consequence, there have been numerous government initiatives that focus on promoting the benefits of utilizing advanced devices to contain the growing menace of sleep apnea. The implementation of these programs would spur the growth prospects of U.S. sleep apnea devices market.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. GE Healthcare
2. ResMed
3. Fisher & Paykel Healthcare
4. Becton Dickinson
5. Natus Medical Incorporated
6. Invacare Corporation
7. BMC Medical
8. Compumedics Limited - Official
9. Curative Medical Inc.

Regarded as one of the most promising niche verticals of health and medical devices industry, sleep apnea devices market is set to witness a plethora of unique innovations in the years to come. On account of the continuous research and development programs being undertaken by foremost firms such as Fisher & Paykel Healthcare, Invacare, Cadwell Laboratories, Philips, Carefusion, Braebon Medical, ResMed, Compumedics, and GE Healthcare, the overall sleep apnea devices industry is anticipated to make remarkable headway over the estimated time frame.

Bearing in mind the aforementioned instances, it is quite imperative to state that the technologically progressive products being developed by firms, of late, have impelled the overall growth prospects of sleep apnea devices industry. In fact, as per a research report compiled by Global Market Insights, Inc., the total remuneration portfolio of sleep apnea devices market stood at USD 5.2 billion in the year 2016.

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Speaking of the regional growth potential of sleep apnea devices industry, U.S. apportioned the largest revenue share in 2016, as per reliable estimates. Owing to the presence of high-grade technology products, increased investment in research and development, advanced healthcare services, and high prevalence of sleep related ailments in the nation, the requirement for novel sleep apnea devices is on the rise. According to National Sleep Foundation, approximately 18 million American adults are struggling to cope with sleep apnea and the number of children suffering with obstructive sleep apnea has been on the rise. As a consequence, there have been numerous government initiatives that focus on promoting the benefits of utilizing advanced devices to contain the growing menace of sleep apnea. The implementation of these programs would spur the growth prospects of U.S. sleep apnea devices market.

Sleep Apnea Devices Market by Product
o Therapeutic devices
- Adaptive Servo-Ventilation Systems
- Airway Clearance Systems
- Oral appliances
- Oxygen devices
- Positive Airway Pressure (PAP) devices
- Others
o Diagnostic devices
- Actigraphy systems
- Polysomnography (PSG) devices
- Respiratory polygraphs
- Single-channel screening devices (Pulse oximeters)