A recent report published by Infinium Global Research on the sleep apnea devices market provides an in-depth analysis of segments and sub-segments in the global as well as regional sleep apnea devices market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional sleep apnea devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of global sleep apnea devices market. According to the report, the global sleep apnea devices market is projected to grow at a CAGR of 7% over the forecast period of 2021-2027.
The sleep apnea devices market was valued at around 3890 million in 2021 and is expected to reach upto USD 5980 million in 2027, growing with a CAGR of 7% during the forecast period. Sleep apnea is a sleeping disorder affected by upper airway disturbances. There are three sorts of apnea for sleep such as central apnea for sleep, obstructive apnea for sleep, and complicated apnea for sleep. The general symptoms of sleep apnea comprise snoring, breathing cessation, tiredness after a night’s sleep, morning headache, and several others. Furthermore, people suffering from sleep apnea exhibit abnormal breathing pattern during sleep that is primarily due to dearth of oxygen supply to the brain and other body parts. Sleep apnea devices promote steady oxygen flow and support the airways, thereby promoting normal breathing. Moreover, several devices are utilized to help in opening up the obstructed breathing airway.
The increasing number of businesses entering the sleep apnea devices market is an important factor accelerating the market growth. Also, technological innovations in devices for sleep apnea, the large pool of undiagnosed sleep apnea patients, and considerable venture capital funding are the major factors among others boosting the sleep apnea devices market. Furthermore, the growing demand for home healthcare and the rising focus on telemedicine and Mhealth will further create new opportunities for the sleep apnea devices market during the forecasted period. However, increased cost of continuous positive airway pressure (CPAP) machines, lack of patient compliance, side-effects related to the use of sleep apnea devices and complex referral pathways, and long waiting periods are the key factors among others acting as limitations, and will further challenge the growth of sleep apnea devices market over the forecast period.
Among the geographies, the North American region is expected to hold the largest share in the global sleep apnea devices market. The industry is expected to offer huge opportunities for market growth on account of the heightened adoption of advanced technology, higher health coverage, and the rising prevalence of sleeping disorders. Furthermore, the Asia Pacific region is expected to witness high growth in the sleep apnea devices market during the forecast period. The widening pool of patients suffering from sleeping disorders and increasing penetration of advanced medical technology in China, Japan, India, and East Asian countries is anticipated to provide positive opportunities for the market across the region.
The report on global sleep apnea devices market covers segments such as product type, and end-user. On the basis of product type, the sub-markets include therapeutic devices, diagnostic devices, and sleep apnea masks. On the basis of end-user, the sub-markets include home care settings & individuals, and sleep laboratories & hospitals.
The report provides profiles of the companies in the market such as ResMed, Phillips Respironics, Fisher & Paykel Healthcare Limited, Curative Medical, Inc., Invacare Corporation, Somnetics International, Inc., BMC Medical Co., Ltd., Natus Medical Incorporated, SOMNOmedics GmbH, and Compumedics Limited.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of sleep apnea devices market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.