Scientific developments coupled with the initiatives by market players, the government to increase awareness regarding sleep apnea, and the various technological advancements brought about by players to make the products comfortable for patients boost the growth of the market.
New York, May 22, 2019: Axiom Market Research & Consulting™ added a report on global sleep apnea devices market which includes study on various diagnostic devices, therapeutic devices and end users across several countries of key regions around the world. The global sleep apnea devices market was projected to grow at a CAGR of 7.28% for the forecast period 2019 to 2025. The global market is estimated and forecasted in terms of revenue (USD billion) generated by the sleep apnea devices market.
The commercially available devices of sleep apnea in the market include polysomnography devices (PSG), pulse oximeters, actigraphy devices and others. Furthermore, the therapeutic devices used in this vertical are positive airway pressure (PAP) devices; (including continuous positive airway pressure (CPAP) devices, bi-level positive airway pressure (BiPAP) devices and auto positive airway pressure (APAP)); adaptive servo ventilation (ASV) devices; oxygen devices (including oxygen concentrators, portable oxygen concentrators and liquid portable oxygen); oral appliances; and masks & accessories. The major end users of these products include sleep laboratories & hospitals and home care. Additionally, geographically, the global sleep apnea devices industry is studied for North America, Europe, Asia Pacific and Rest of the World.
Surging prevalence of sleep apnea globally to boost the market growth
The growth of the global sleep apnea devices market has been mainly triggered by the surging prevalence of sleep apnea. In additional, technological developments coupled with the initiatives by market players, the government to increase awareness regarding sleep apnea, and the various technological advancements brought about by players to make the products comfortable for patients boost the growth of the market.
Among various diagnostic devices, the pulse oximeters to dominate the market in 2018
Pulse oximeter is simple test that can easily be done at home since it provides basic information in evaluating whether a person has one of the more common sleep disorders. The lucrative growth of this segment is attributed to its easy and inexpensive application as well as the availability of these devices at online platforms.
Home care segment to grow at the fastest CAGR during the forecast period
The home care segment of the market is anticipated to observe lucrative growth during the forecast period owing to the preference for home care in sleep apnea diagnosed patients.
North America held the largest market share of the sleep apnea devices market in 2018
This regional growth of the North America is mainly attributed to the rising incidence of sleep disorders and growing initiatives by the government and non-government organizations for increasing awareness about sleep disorders and sleep hygiene. Numerous government organizations are running awareness programs to educate people and medical practitioners about healthy sleep habits.
The key companies having strong hold in sleep apnea devices vertical includes ResMed, Inc., Koninklijke Philips, and Fisher & Paykel Healthcare Ltd. Other players in the sleep apnea diagnostic devices market include SomnoMed Ltd., Compumedics Limited, Löwenstein Medical GmbH & Co. KG., Whole You, Inc., BMC Medical Co., Ltd., Drive DeVilbiss Healthcare, and Braebon Medical Corporation among others.
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