The global sleep apnea devices market size is expected to reach US$ 9.5 billion by 2026 and market forecasted to show remarkable CAGR around 7.2% from 2019 to 2026.
Sleep apnea is a condition in which a individual stops breathing for a few seconds at night either because of the blocking of the airways or because no sign of the brain. A individual stops breathing more than 10 times an hour under serious circumstances. The increased geriatric population is anticipated to lead to the incidence of blocking sleep apnea (OSA) as a result of growing life expectancy. In the geriatric population the high incidence of OSA due to apnea-related comorbidities is projected to fuel increase. Increased awareness, diagnosis of diseases, patient adherence and healthcare costs are also expected to drive development in revenues. Reduction by growing age in the size of the upper airway lumen may trigger OSA
Apnea happens when inadequate oxygen is given to both body and brain, and when sleep stops breathing. OSA is the most prevalent type of airway blockage apnea. For this to be avoided, patients must be diagnosed and treated with therapeutic treatments. In the older population, OSA is commonly common, is still not diagnatic due to absence of knowledge, low infrastructure in developing nations and a nonspecific disease appearance, as well as patients suffering from cardiovascular disease, other noncommunicable diseases such as diabetes, hypertensión.
The report provides analysis of global Sleep Apnea Devices market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Keeping awareness of the harmful impacts of untreated sleep apnea, increasing use of oral devices and the technological advancement of sleep apnea machines, significant venture capital funds and an increasing number of firms venturing into sleep apnea and oral application mainly are significant drivers of the growth market for sleep apnea devices. The prevalence of sleeping apnea rises with the increased danger of other illnesses like hypertensions, cardiac diseases, diabetes and mental disorders such as depression and anxiety. In the forecast period, growing knowledge about the long-term impact of sleep apnea will stimulate income development.
Advances in sleep apnea technology have resulted to the growth of several standard sleep apnea therapies. In addition, several firms are involved in creating sophisticated equipment that raises demand for these equipment. Large unexploited possibilities in emerging countries will increase development in sector over time. Awareness and favorable reimbursement will enhance the acceptance of appliances concerning sleep apnea illnesses among humans.
Increasing consciousness, geriatric population, disease prevalence, and the need to diagnose and treat OSA in an effective fashion are some elements that support sleep apnea market sales development. Technological developments in the field of patient safety and convenience should enhance compliance with therapy, particularly in developed markets. In recent years the demand for OSA diagnosis and therapy has grown rapidly as a result of exponentially growing sleep apnea incidence, an increased awareness, reimbursement provision and increased patient support. Apnea affects almost 936 million individuals worldwide, according to ResMed's data analyses. The National Healthy Sleep Awareness Project says that obstructing sleep apnea is a chronic illness that impacts the public health of over 25 million individuals in the United States.
Therapeutic devices resulted to highest revenue for the general sleep apnea industry in 2018. In addition, patient disease awareness, availability of technologically sophisticated products, increased local government initiatives, and support for patient compliance are anticipated to offer producers working in the field of therapeutic devices a profitable chance. The gold standards for apnea therapy are regarded to be PAP devices. These products allow pressurized air to be flowed into the ventilated airways via a face mask connected to a pipe and machine, thus ensuring ordinary sleep breathing. During the projected era, the miniaturisation of these PAP systems with the availability of extra customization alternatives is anticipated to propel business development. The respiratory polygraphs segment is also expected to show significant growth during the prediction era. Respiratory polygraphs are commonly used for home diagnosis. The polysomnography used in laboratories is an option. Home diagnosis for patients is inexpensive, hence the number of patients that are anticipated in turn to drive the development of the segment's revenues.
On the basis of the end user, the sleep lab & hospital segment represented the biggest proportion of the market, whereas in the forecast era home-care environments / end-users segments are expected to expand on the greatest CAGR. The elevated development is probably due to variables such as the increasing preference of patients and private insurance businesses in home sleep testing, as well as the favourable home sleep test reimbursement scenario.
In 2018, the worldwide market was dominated by North America. A large number of patients and established producers are expected to reinforce the regional market further. As more individuals are concerned with the health hazards resulting from sleep apnea, the amount of sleep exams in the US is growing quickly. Another factor in regional income development is the advances in technology in diagnostic and therapeutic instruments and the simple accessibility of products like EMA.
In the forecast era, Asia Pacific is expected to be the fastest growing market with a highest CAGR over the forecast time frame. The most diagnosed sleep apnea patients worldwide have been Asia Pacific. This offers the manufacturers a profitable chance. There is also a increasing number of hospitals in this area and stable development is expected to take place. Due to the growing population and increased healthcare spending, India is expected to develop at the largest growth pace in the predictive time span. Manufacturers are concentrating on developing strategies to strengthen their client pool in Asia-Pacific by introducing cost-sensitive equipment. In 2016, China's sleep apnea products market had an important share in revenue, owing to increased disposable income, increased sleep disturbance due to altering diet and patterns of life. Changes in the country's eating habits should stimulate development of sector. According to the WHO, China is the second most obese in the globe. China is expected to have most of the obese kids in the world, by the World Obesity Federation. This will boost the amount of diseases associated with sleep and boost product demand.
Over the forecast period Germany should be experiencing solid development on the sleep apnea market. Increased sleep disorder incidence and early detection and diagnosis of illnesses should boost the development of sector. Increasing awareness of sleep apnea devices among patients and carers, the increasing number of cardiovascular diseases, the presence of advanced technology in the field of thérapeutic medication and diagnostics will increase sleep apnea devices market size.
Global Sleep Apnea Devices Market, By Type
Global Sleep Apnea Devices Market, By End-user
Global Sleep Apnea Devices Market, By Geography
The market research study on “Sleep Apnea Devices Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global sleep apnea devices market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Players & Strategies
The sleep apnea devices market consists of major vendors such as BMC Medical Co. Ltd; Braebon Medical Corporation; Nihon Kohden; Cadwell Laboratories; ResMed; ImThera Medical Inc.; Invacare Corporation; Fisher & Paykel Healthcare Limited; GE Healthcare; Curative Medical Inc.; Philips Respironics; and Compumedics Limited.
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