Research Nester published a report titled “Sleep Apnea Device Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the sleep apnea device market in terms of market segmentation by product type, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The sleep apnea device market is estimated to occupy a sizeable amount of revenue by growing at a significant CAGR during the forecast period, i.e., 2021 – 2029, owing to the rising occurrence of undiagnosed sleep apnea, major lifestyle changes and increasing usage of oral applications. Apart from these, growing capital funding by leading medical companies for developing effective devices for sleeping disorders is also expected to drive market growth.
The market is segmented by product type and end user. Based on product type, the segment for therapeutic devices is anticipated to grab the largest market share during the forecast period on the back of escalating application of nasal, oral and chin-strap devices and high availability of cutting-edge medical appliances. Furthermore, the sleep masks segment is projected to grow at the highest rate, which can be credited to the rise in adoption of CPAP machines.
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Geographically, the sleep apnea device market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab the largest share in the market during the forecast period attributing to the increasing prevalence of sleep disorders and strong presence of market players. Moreover, the market in Asia Pacific is assessed to grow by the highest rate in the future owing to the large patient pool and growing geriatric population.
Increasing Incidences of Sleep Apnea to Boost Market Growth
Sleep apnea is a serious disorder which is gaining wide recognition globally since the last few years. Along with this, as there is a global shift in the lifestyle preferences of people, the incidences of obesity and other chronic diseases is also increasing, which is also giving rise to the growing prevalence of sleep disorders. This is the major factor expected to fuel the market in the near future.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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However, costly diagnosis and treatment for sleep apnea is expected to operate as key restraint to the growth of the sleep apnea device market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the sleep apnea device market which includes company profiling of Koninklijke Philips N.V. (AMS: PHIA), ResMed Corp. (NYSE: RMD), Fisher & Paykel Healthcare Limited (NZE: FPH), Cadwell Industries Inc., GENERAL ELECTRIC COMPANY (NYSE: GE), BMC Medical Co., Ltd., Becton, Dickinson and Company (NYSE: BDX), Natus Medical Incorporated (NASDAQ: NTUS), Invacare Corporation (NYSE: IVC), Compumedics Limited (ASX: CMP), and others. 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 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.
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