November 09, 2020
As per the research report titled ‘Sleep Apnea Devices Market Share, Size, Trends & Industry Analysis Report, By Diagnostic Devices; By Therapeutic Devices; By End User; By Region: Segment Forecast, 2018 – 2026’ available with Market Study Report, global sleep apnea devices market is projected to register a healthy CAGR of 7.9% during 2018-2026, subsequently accounting for USD 10.23 billion by the year 2026.
Surging demand for effective treatment options as well as appropriate diagnosis, increasing frequency of sleep apnea disorders, and technological advancements are augmenting the growth of global sleep apnea devices market.
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For the uninitiated, sleep apnea is a sleeping disorder that occurs when the body as well as brain do not receive adequate amounts of oxygen while sleeping. The most common type of sleep apnea is OSA (obstructive sleep apnea) which is primarily triggered due to airway blockage. Other forms of this ailment include complex sleep apnea syndrome and central sleep apnea.
Additionally, flourishing sleep diagnosis industry, rising adoption of sleep apnea devices, growing awareness regarding the ailment and the subsequent risks associated with it such as depression, abnormal glucose metabolism, high blood pressure, and systemic hypertension are stimulating the global sleep apnea devices market outlook.
From a regional frame of reference, North America held a majority shares in global sleep apnea devices market in 2017 and is predicted to show similar growth patterns through 2026. Rising prevalence of SBD (sleep-disordered breathing) coupled with growing awareness of technologically innovative sleep apnea devices are bolstering the growth of the regional market.
Alternatively, Asia-Pacific sleep apnea devices industry is estimated to register the highest CAGR over the forecast period, owing to growing undiagnosed patient population, increasing clinic establishments, and rising focus of major partakers towards providing innovative and affordable devices.
The organizations that outline the global sleep apnea devices industry trends are SomnoMed, Drive DeVilbiss Healthcare, Löwenstein Medical Technology GmbH + Co. KG., Braebon Medical Corporation, BMC Medical Co. Ltd., Whole You Inc., Compumedics Limited, ResMed, Koninklijke Philips N.V., and Fisher & Paykel Healthcare Corporation Limited.