Sleep Apnea Devices Market worth $7.5 billion by 2024
The global sleep apnea devices market is expected to reach USD 7.5 billion by 2024 from USD 4.5 billion in 2019 at a CAGR of 10.7%.
(EMAILWIRE.COM, December 11, 2020 ) Major Growth Boosting Factors:
The major factors driving the growth of the Sleep Apnea Devices Market are primarily a large pool of undiagnosed sleep apnea patients, growing awareness about the ill effects of untreated sleep apnea, growing usage of oral appliances, technological advancements in sleep apnea devices, considerable venture capital funding, and an increasing number of companies venturing into sleep apnea and oral appliances markets.
Market Size Estimation:
Both top-down and bottom-up approaches were used to estimate and validate the total size of the sleep apnea devices market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
# The key players in the industry and markets have been identified through extensive secondary research
# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
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The therapeutic devices segment accounted for the largest market share during the forecast period.
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 during the forecast period. The key factors contributing to this growth are the increasing number of undiagnosed sleep apnea patients across the globe and the improving reimbursement scenario for these devices. Moreover, there is also an inclination towards adoption of oral appliances considering the high rate of non-compliance with PAP devices.
Recent Developments in the :
# In 2019, ResMed (US) launched AirFit N30i, its first top-of-head-connected nasal CPAP mask, across the US with a newly designed nasal cradle cushion that sits just under the wearer’s nose.
# In 2016, Koninklijke Philips (Netherlands) launched its Dream Family solution which comprises of a DreamWear mask, DreamStation PAP device, and DreamMapper patient engagement app.
Home care settings/individuals projected to grow at the highest CAGR in the global sleep apnea devices market during the forecast period
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 accounted for the largest share of the market in 2018, while home care settings/individuals end-user segment is projected to grow at the highest CAGR during the forecast period. This high growth is likely driven by factors such as the rising preference for home sleep testing by both patients and private insurance companies, along with the favorable reimbursement scenario for home sleep testing.
North America is expected to dominate the sleep apnea devices market during the forecast period
On the basis of region, North America accounted for the largest share of the global sleep apnea devices market in 2018, whereas, the Asia Pacific region registered the highest CAGR during the forecast period. North American accounted for the largest share owing to factors like an increase in the number of patients diagnosed with sleep apnea in the region, growth in awareness initiatives being taken by various government and non-government organizations, availability of adequate funding for research and development, and substantial growth in the usage of oral appliances in the region.
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Key Questions Addressed by the Report:
# Which type segment will dominate the sleep apnea devices market in the future?
# Emerging countries have immense opportunities for the growth and adoption of sleep apnea devices, therefore will this scenario continue in the next five years?
# Where will all the advancements in technology offered by various companies take the industry in the mid to long term?
# What are the upcoming alternative therapies and devices related to the same in the sleep apnea devices market?
Key Players:
The major vendors in the global sleep apnea devices market are ResMed (US), Koninklijke Philips (Netherlands), Fisher & Paykel Healthcare (New Zealand), SomnoMed (US), Oventus Medical (Australia), Compumedics (Australia), Löwenstein Medical (Germany), Drive DeVilbiss Healthcare (US), BMC Medical (China), Braebon Medical (Canada), and Panthera Dental (Canada). The dominant players, which includes ResMed (US), Koninklijke Philips (Netherlands), Fisher & Paykel Healthcare (New Zealand), together accounted for ~94.4% of the global sleep apnea devices market in 2018 while the other players together accounted for ~5.6% of the market, owing to their substantial product innovations and expansion in business strategies across the globe.
Read The Detailed Article@
https://www.marketsandmarkets.com/Market-Reports/sleep-apnea-devices-market-719.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
The major factors driving the growth of the Sleep Apnea Devices Market are primarily a large pool of undiagnosed sleep apnea patients, growing awareness about the ill effects of untreated sleep apnea, growing usage of oral appliances, technological advancements in sleep apnea devices, considerable venture capital funding, and an increasing number of companies venturing into sleep apnea and oral appliances markets.
Market Size Estimation:
Both top-down and bottom-up approaches were used to estimate and validate the total size of the sleep apnea devices market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
# The key players in the industry and markets have been identified through extensive secondary research
# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=719
The therapeutic devices segment accounted for the largest market share during the forecast period.
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 during the forecast period. The key factors contributing to this growth are the increasing number of undiagnosed sleep apnea patients across the globe and the improving reimbursement scenario for these devices. Moreover, there is also an inclination towards adoption of oral appliances considering the high rate of non-compliance with PAP devices.
Recent Developments in the :
# In 2019, ResMed (US) launched AirFit N30i, its first top-of-head-connected nasal CPAP mask, across the US with a newly designed nasal cradle cushion that sits just under the wearer’s nose.
# In 2016, Koninklijke Philips (Netherlands) launched its Dream Family solution which comprises of a DreamWear mask, DreamStation PAP device, and DreamMapper patient engagement app.
Home care settings/individuals projected to grow at the highest CAGR in the global sleep apnea devices market during the forecast period
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 accounted for the largest share of the market in 2018, while home care settings/individuals end-user segment is projected to grow at the highest CAGR during the forecast period. This high growth is likely driven by factors such as the rising preference for home sleep testing by both patients and private insurance companies, along with the favorable reimbursement scenario for home sleep testing.
North America is expected to dominate the sleep apnea devices market during the forecast period
On the basis of region, North America accounted for the largest share of the global sleep apnea devices market in 2018, whereas, the Asia Pacific region registered the highest CAGR during the forecast period. North American accounted for the largest share owing to factors like an increase in the number of patients diagnosed with sleep apnea in the region, growth in awareness initiatives being taken by various government and non-government organizations, availability of adequate funding for research and development, and substantial growth in the usage of oral appliances in the region.
Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=719
Key Questions Addressed by the Report:
# Which type segment will dominate the sleep apnea devices market in the future?
# Emerging countries have immense opportunities for the growth and adoption of sleep apnea devices, therefore will this scenario continue in the next five years?
# Where will all the advancements in technology offered by various companies take the industry in the mid to long term?
# What are the upcoming alternative therapies and devices related to the same in the sleep apnea devices market?
Key Players:
The major vendors in the global sleep apnea devices market are ResMed (US), Koninklijke Philips (Netherlands), Fisher & Paykel Healthcare (New Zealand), SomnoMed (US), Oventus Medical (Australia), Compumedics (Australia), Löwenstein Medical (Germany), Drive DeVilbiss Healthcare (US), BMC Medical (China), Braebon Medical (Canada), and Panthera Dental (Canada). The dominant players, which includes ResMed (US), Koninklijke Philips (Netherlands), Fisher & Paykel Healthcare (New Zealand), together accounted for ~94.4% of the global sleep apnea devices market in 2018 while the other players together accounted for ~5.6% of the market, owing to their substantial product innovations and expansion in business strategies across the globe.
Read The Detailed Article@
https://www.marketsandmarkets.com/Market-Reports/sleep-apnea-devices-market-719.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
Contact Information:
MarketsandMarkets™
Mr. Aashish Mehra
Tel: 1-888-600-6441
Email us
----
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MarketsandMarkets™
Mr. Aashish Mehra
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results