DUBLIN, September 28, 2021--(BUSINESS WIRE)--The "Global Sleep Apnea Device Markets, Competition Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Sleep Apnea Device Market stood at USD4.78 billion in 2020 and is expected to grow at a rate of 8.79% to 2026 on account of the growing prevalence of sleep apnea.
Additionally, increasing number of patients suffering from undiagnosed sleep apnea worldwide is expected to fuel the market growth through 2026.
Furthermore, technological advancements and new product launches by major players operating in the market coupled with increase in the number of companies entering into the business of manufacturing sleep apnea devices is further expected to create lucrative opportunities for the market growth over the next few years. Besides, the emergence and growing adoption of telemedicine and telehealth services can bring about new opportunities for the market growth during the forecast period.
The Global Sleep Apnea Device Market can be segmented by type, By Indication Type , by end-user, by region and by company. Based on type, the market can be split into therapeutic devices and diagnostic devices. The therapeutic devices segment dominated the market in 2020 with an overall market share of 59.19% on account of increase in patient pool with undiagnosed sleep apnea.
Additionally, technological advancements, growing awareness pertaining to the treatment of sleep apnea among the population, among others are further expected to support the market growth. Based on indication type, the market can be divided into obstructive sleep apnea and central sleep apnea.
The obstructive sleep apnea indication type is expected to dominate the market during the forecast period since this is the most common type of sleep apnea observed among the population which is being seen in all age groups. Obstructive sleep apnea is observed when the throat muscles relax, and upper respiratory airway is partially or completely blocked which leads to problem in breathing. While in case of central sleep apnea there is no blockage in the airway rather the brain fails to signal the muscles to breathe. However, this is not much observed.
Regionally, North America dominated the market in 2020 and is expected to continue its dominance over the forecast period owing to the growing prevalence of sleep apnea in the region. According to an American Sleep Association, there were around 50-70 million patients suffering from some form of sleep disorder in the United States in 2020.
This has led to an increase in the number of sleep tests being conducted across the United states. This in turn is expected to increase the demand for sleep apnea devices thereby fostering the market growth over the next few years.
Top companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new developments. For instance, ResMed, Inc. launched AirFit N30i, a top-of-head-connected nasal CPAP mask in the United States in 2019. This mask consists of a nasal cradle cushion that sits just under the wearer's nose, thereby improving the overall patient experience.
Objective of the Study:
To analyze the historical growth in the market size of the Global Sleep Apnea Device Market from 2016 to 2020.
To estimate and forecast the market size of the Global Sleep Apnea Device Market from 2021 to 2026 and growth rate until 2026.
To classify and forecast the Global Sleep Apnea Device Market based on type, indication type, end-user, region, and company.
To identify dominant region or segment in the Global Sleep Apnea Device Market.
To identify drivers and challenges for the Global Sleep Apnea Device Market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Global Sleep Apnea Device Market.
To identify and analyze the profile of leading players operating in the Global Sleep Apnea Device Market.
To identify key sustainable strategies adopted by market players in the Global Sleep Apnea Device Market.
Major players operating in the Global Sleep Apnea Device Market include
Koninklijke Philips N.V.
Fisher & Paykel Healthcare Corporation Limited
Oventus Medical Ltd.
Itamar Medical Ltd.
DeVilbiss Healthcare LLC
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Global Sleep Apnea Devices Market, By Type:
Home Sleep Testing Devices
Sleep Screening Devices
Global Sleep Apnea Devices Market, By Indication Type :
Obstructive Sleep Apnea
Central Sleep Apnea
Global Sleep Apnea Devices Market, By End-User:
Hospital & Clinics
Global Sleep Apnea Devices Market, By Region:
Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/2omqz9
View source version on businesswire.com: https://www.businesswire.com/news/home/20210928005599/en/
Laura Wood, Senior Press Manager
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