Drivers & Restraints:
The rising number of patients suffering from a disease like treating obstructive sleep apnea (OSA) is one of the major thrust providers for the global sleep apnea devices market. Across the population, a huge number of people are suffering from this disorder and several of them have not been diagnosed, which provides scope for market expansion. The development of advanced technologies and their easy inclusion in the market play in favor of the market. This will help in increasing sleep apnea devices market share. Investments in the sector from both government and private bodies are expected to trigger a forward move.
However, the market has a chance to find obstacles in the shape of ignorance. In developing and under-developed countries, people either ignore it or are not aware of the disease, which may hold back the growth.
The global market for the sleep apnea devices market has been studied by analysts from Market Research Future (MRFR) and they have predicted growth by 7.8% CAGR during the forecast period of 2018 to 2022. During this time frame, the sleep apnea devices market size will cross a substantial valuation of USD 6.9 billion due to the workings of several factors.
The global sleep apnea device market has been studied by MRFR experts on the basis of type and end-user. This segmentation aims to reveal a detailed analysis of various aspects to boost the market in finding better growth.
By type, the report on the sleep apnea device market includes therapeutic and diagnostic sleep apnea devices. The therapeutic device segment comprises Positive Airway Pressure (PAP) devices, Continuous Positive Airway Pressure (CPAP), accessories, oral appliances, Adaptive Servo-Ventilators (ASV), facial interfaces (mask), and other therapeutic devices like oxygen concentrators and airway clearance systems. The therapeutic device segment had the largest market share in 2016—better patient compliance and improvement in technologies to inspire this segment’s growth. The diagnostic device segment includes Polysomnographs (PSG) and oximeter.
By end-user, the global study on the sleep apnea device market includes hospitals, sleep laboratories, and home care. The home care/individual segment has the opportunity to garner maximum speed during the forecast period.
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Various trends and inclusion of top-end models would ensure that the North American market retains its dominance. The global sleep apnea devices market trends point at companies from the region as major influencers. In Canada and the US, increasing market expenditure is expected to help the market make progress. In Asia Pacific, an increase in the identification of the disease is slated to open up opportunities for expansion.
The sleep apnea devices market growth depends on the strategic moves launched by companies like Cadwell Laboratories Inc, MedTech, Fisher & Paykel Healthcare Limited, Consumer Sleep Solution LLC, Invacare Corporation, Natus Medical Incorporated, Nihon Kohden Corporation, Philips Healthcare, Resmed Inc, Koninklijke Philips, SomnoMed, Compumedics, Lowenstein Medical, Drive Devilbiss Healthcare, BMC Medical, and Braebon Medical Corporation.
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