Sleep Apnea Devices Market Update: Exceeding Expectations of Key Players That Shows Promising Future
Seattle, WA -- (SBWIRE) -- 11/29/2019 -- Sleep apnea is a serious sleep disorder, in which breathing repeatedly stops and starts. There are three main types of sleep apnea, obstructive sleep apnea, central sleep apnea, and complex sleep apnea syndrome. The factors, such as increased incidences of sleep apnea, increasing awareness among the patient population in the developing countries, favorable government initiatives, and upcoming technological advancements, are expected to drive the growth of the market over the forecast period.
Rising awareness, geriatric population, prevalence of disease, and need for efficient diagnosis and treatment of OSA, are some of the factors promoting revenue growth of the sleep apnea devices market. Introduction of technological advancements catering to patient safety and comfort is expected to improve treatment adherence especially in developed markets such as North America.
The demand for OSA diagnosis and treatment has witnessed a rapid increase during the past few years, triggered by the exponential growth in the prevalence of sleep apnea, rising awareness, availability of reimbursement, and increasing patient adherence.
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The sleep apnea diagnostic devices market is segmented based on products, types, end user and region.
Based on the products, the market is segmented into polysomnography (PSG) devices, respiratory polygraphs, single-channel screening devices (pulse oximeters), actigraphy systems.
On the basis of type, the Sleep Apnea Devices Market has been segmented into therapeutic devices and diagnostic devices. The therapeutic devices segment accounted for the largest share of the market during the forecast period and is projected to register the highest CAGR.
On the basis of end user, the Sleep Apnea Devices Market has been segmented into sleep laboratories & hospitals and home care settings/individuals. The sleep laboratories & hospitals segment commanded the largest share of the market in 2018.
North America currently dominates the market for sleep apnea devices and is expected to continue its stronghold for a few more years. This region is expected to increase its market share in the future, owing to the high incidence of sleep-disordered breathing (SDB) and rising aging population in the region.
Asia Pacific is projected to be the fastest growing market over the forecast period. Asia Pacific has the largest number of undiagnosed sleep apnea patients in the world. This presents a lucrative opportunity for the manufacturers. The number of clinics in this region is also growing, which in turn is anticipated to promote robust growth.
Philips Healthcare, Resmed, Inc., Fisher & Paykel Healthcare Ltd, Somnomed Limited, Compumedics Limited, Devilbiss Healthcare, BMC Medical Co., Ltd., Braebon Medical Corporation, Weinmann Medical Devices GmbH and Whole You, Inc.
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