“Sleep Apnea Device Market: Global Demand Analysis & Opportunity
Outlook 2023”
The global sleep apnea device market
is segmented into device type such as diagnostic devices and therapeutic
devices. Among these segments, diagnostic devices segment is expected to occupy
top position in overall sleep apnea device market during the forecast period. Furthermore,
sleep apnea diagnostic device is segmented into actigraphy systems,
polysomnography (PSG) devices, respiratory polygraphs and single-channel
screening devices (pulse oximeters). Rising awareness among people about
advanced diagnostic devices is fuelling the growth of sleep apnea diagnostic
device market.
Global sleep apnea device market
is expected to flourish at a significant CAGR of 7.7% during the forecast period.
Moreover, the global sleep apnea device market is expected to garner USD 5.5 Billion
by the end of 2023. Rising incidences of sleep apnea and increasing awareness
in people are some of the major factors spurring the growth of the global sleep
apnea device market.
North America captured largest market of sleep apnea device,
with a market share of 62.3% in 2015. Further, North America is projected to
continue its dominance over the forecast period. Availability of
technologically advanced sleep apnea device coupled with rising adoption of
these devices is driving the growth of the market. Europe is anticipated to
substantially contribute to the growth of sleep apnea device market. This can
be attributed to the rising utilization of therapeutic devices in the region. Asia
Pacific is anticipated to showcase lucrative growth in sleep apnea device market
during the forecast period. Rising awareness about ill effects of sleep apnea
is driving the demand for sleep apnea device in Asia-Pacific region.
Innovations and Advances in Technologies
Technological advancements
and developments in sleep apnea devices such as compactness high accuracy are
anticipated to significantly increase the demand for sleep apnea devices during
the forecast period. Furthermore, increasing spending on research &
development activities by the manufacturing companies is expected to positively
impact the growth of the market.
Increasing Demand for Home Healthcare Solutions
Rising adoption of home
healthcare products and introduction of effective and low cost home healthcare
solutions are shifting the population towards homecare systems. This factor is
expected to bolster the demand for sleep apnea device. On the other hand,
rising number of respiratory disorder such as respiratory diseases, stroke, atrial
fibrillation, hypertension, obesity and type II diabetes are likely to foster
the demand for sleep apnea device.
However, high cost of devices
and lack of awareness towards medical devices in underdeveloped nations are
some of the factors which are likely to inhibit the growth of the global sleep
apnea device market in the near future.
The
report titled “Sleep
apnea device Market: Global Demand, Growth Analysis & Opportunity Outlook
2023” delivers
detailed overview of the global sleep apnea device market in terms of market
segmentation by device type, by end-user and by region.
Further,
for the in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and
Porter’s five force model.
This report also provides the
existing competitive scenario of some of the key players of the global sleep
apnea device market which includes company profiling of Philips Healthcare, Cadwell
Laboratories Inc., GE Healthcare, CareFusion Corporation, ResMed Inc., BMC
Medical Co., Ltd., Fisher & Paykel Healthcare Limited, SomnoMed Ltd., Compumedics Limited and Invacare Corporation. The profiling enfolds key information of the
companies which encompasses business overview, products and services, key
financials and recent news and developments. On the whole, the report depicts
detailed overview of the global sleep apnea device market that will help
industry consultants, equipment manufacturers, existing players searching for
expansion opportunities, new players searching possibilities and other
stakeholders to align their market centric strategies according to the ongoing
and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/sleep-apnea-device-market-global-demand-analysis-opportunity-outlook-2021/183
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Info:
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Daniel
U.S.
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