Sleep Apnea Devices Market Experts Anticipate Market Boom in 2026
New York, NY 19 June 2020 : The global sleep apnea devices market size is anticipated to reach USD 10.23 billion by 2026 growing at a CAGR of 7.9% from 2018 to 2026 according to a new report published by Polaris Market Research. The report 'Sleep Apnea Devices Market Share, Size, Trends & Industry Analysis Report, By Diagnostic Devices (PSG, Respiratory polygraphs, Pulse Oximeters, Actigraphy Devices); By Therapeutic Devices (PAP, Oxygen Devices, Oral Appliances); By End User; By Region: Segment Forecast, 2018 – 2026 'provides insights on the current market scenario and the future prospects. In 2017, the Positive airway pressure (PAP) dominated the global Sleep Apnea Devices industry, in terms of revenue. North America was to be the leading contributor to the global market revenue in 2017.
Sleep apnea is an ailment which befalls when the brain as well as body obtain inadequate amount of oxygen where breathing process is interfered while sleeping. Obstructive Sleep Apnea (OSA) is the most common type of sleep apnea which is majorly triggered by airway blockage. Other forms of sleep apnea are central sleep apnea, and complex sleep apnea syndrome. In order to avoid such disease, it is essential to perform diagnostic tests on the patient to classify the appropriate therapeutic devices for treatment. Sleep apnea is extensively observed in the elderly population. There are multiple instances where sleep apnea is kept un-diagnosed due to factors such as non-specific exhibition of the disorder and lack of awareness amongst the patients.
Growing frequency of this disease along with the increasing need for appropriate diagnosis and effective treatment, increasing responsiveness among individuals, and growing geriatric population are some of the major factors encouraging the industry growth. Moreover, technological advancements augmenting comfort and safety is expected to enhance the usage of device rates especially in developed economies such as North America, which in turn is estimated to drive the market growth.
The sleep apnea diagnosis industry has witnessed rapid surge during the past decade. The growth is been attributed to the continuous development in sleep apnea device usage. According to the World Health Organization (WHO) reports, about 100 million individuals are suffering from sleep apnea. In addition, obstructive sleep apnea and is a chronic disease that unfavorably affects health. According to the National Healthy Sleep Awareness Project reports, around 25 million people are affected by this disease alone in the US
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Occurrence of sleep apnea surges the risk of other ailments such as abnormal glucose metabolism, depression, diabetes, high blood pressure, systemic hypertension, heart disease, and strokes. This all disorders further rises the total healthcare cost weight on the nation. Increasing consciousness regarding the sleep apnea along with welfare of using sleep apnea devices are anticipated to upsurge the revenue growth during the near future.
The North America was estimated to hold the highest market share during 2017.The large market share is majorly attributed to due to the high occurrence of Sleep-Disordered Breathing (SDB). Moreover, there is also a growing awareness amongst the for the novel and technologically advanced sleep apnea devices that are driving the growth of market growth in North America.
Asia Pacific market is anticipated to be the fastest growing industry during the forecast period. Growing number of clinics and large number of undiagnosed patient pool are expected to form lucrative growth opportunity in the market. Key players present in this region are focusing on constructing favorable policies towards enhancing the consumer pool through introduction of advanced as and cost-effective devices which in turn is expected to provide robust growth opportunities in the market during the forecast period.
The well-known companies profiled in the Sleep Apnea Devices market report include Fisher & Paykel Healthcare (New Zealand), Koninklijke Philips (Netherlands), ResMed (US), Compumedics (Australia), Whole You (US), BMC Medical (China) , Braebon Medical (Canada), Löwenstein Medical (Germany), Drive DeVilbiss Healthcare (US), and SomnoMed (Australia). These companies launch new products and collaborate with other leaders in the market to innovate and launch new products to meet the increasing needs and requirements of consumers.
Polaris Market Research has segmented the global Sleep Apnea Devices market on the basis of diagnostic devices, therapeutic devices, end user and region:
Sleep Apnea Devices Diagnostic Devices Outlook (Revenue, USD Billion, 2015 – 2026)
Polysomnography Devices (PSG)
· Respiratory polygraphs
Pulse Oximeters
· Actigraphy Devices
Sleep Apnea Devices Therapeutic Devices Outlook (Revenue, USD Billion, 2015 – 2026)
Positive Airway Pressure (PAP) Devices
· Oxygen Devices
· Oral Appliances
Adaptive Servo Ventilation (ASV) Devices
Sleep Apnea Devices End User Outlook (Revenue, USD Billion, 2015 – 2026)
Hospitals & Sleep Laboratories
· Home care settings
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