Global Sleep Apnea Devices Market is expected to grow at a CAGR of 9.60% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Sleep Apnea Devices Market by Type (Therapeutic Devices, Diagnostic Devices), End User, and Region and Global Forecast 2018-2025.
As per the report, the global sleep apnea devices market is expected to grow from USD 5.2. Billion in 2017 to USD 10.6 Billion by 2025 at a CAGR of 9.60% during the forecast period from 2018-2025. North America has captured the largest market share and generating the highest revenue during the forecast period. North America region dominated the market and was valued around USD 3.01 Million in 2017. Large patient pool and presence of established manufacturers. Technological advancements and availability of these devices in the region is further augmenting the growth of the market. Asia pacific is projected to be fastest growing region in the forecast period owing to large undiagnosed patient pool, rising healthcare expenditure and growing focus of manufacturers in the region.
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Major players operating in the market are Koninklijke Philips, Resmed, Braebon Medical, Fisher & Paykel Healthcare, Drive Devilbiss Healthcare, Somnomed, Whole You, Compumedics, Löwenstein Medical, Phillips Healthcare, Weinmann Medical Devices GmbH, Itamar Medical Ltd., Novasom, Curative Medical Inc., Invacare Corporation and others. Major players are engaged in developing new technologies to retain their foothold in the global market. For instance, in March 2018, Nihon Kohden commercially launched its NKHiQTM Wireless Patient Monitoring System.
The type segment is classified into therapeutic and diagnostic devices. The Diagnostics devices segment accounted for the largest share and was valued around USD 2.75 Billion in 2017. Rising patient awareness and increasing demand for early diagnosis is driving the growth of the segment. Large number of undiagnosed patients is providing lucrative opportunities to manufacturers, this in turn is expected to drive market growth over the forecast period for diagnostic devices segment. End user segment is bifurcated into sleep laboratories & hospitals and home care/individuals. The home care/individuals segment of the market is estimated to grow at the highest CAGR of 11.74% during the forecast period. This can be attributed to the preference for home care in sleep apnea diagnosed patients.
Sleep apnea is most prevalent in the elderly population which increases the risk of other diseases such as high blood pressure, heart disease, strokes, diabetes, systemic hypertension and depression are expected to enhance the growth of the segment. In addition, Growing awareness regarding is also driving the market. Lack of awareness may restrict the growth of the market. However, rising use of portable sleep apnea devices and increasing government support for start-up companies are driving the growth of the market in forecast period.
About the report:
The global Sleep Apnea Devices market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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