Dallas, TX, March 27, 2016 --(PR.com
)-- Globally, there is an exponential rise in the cases of Obstructive Sleep Apnea (OSA) among the world population and is one of the most important factors contributing to the growth of this market. It is estimated that around 100 million people suffer from OSA across the world. The incessantly rising obese population and the increasing prevalence of co morbidities related with sleep apnea (such as drug-resistant hypertension, congestive heart failure, Type-2 diabetes, and stroke, among others) are helping the total patient pool of sleep apnea to rise in the future as well. The increase in awareness levels of patients and physicians, with respect to the diagnosis and treatment of OSA, is also an important factor for the growth of the market. The rising alertness of the benefits of these treatments and risks associated with sleep apnea has managed to grab the attention of the stakeholders of this market. Various firms and organizations are engaging in campaigns and educational workshops to increase awareness of the disease among physicians and the general public.
The upward trend in the demand for sleep apnea devices is seen as a consequence of the technological advancements in the field of sleep apnea diagnostics as well as therapeutic devices. This demand is anticipated to rise further in the coming years, as device manufacturers are emphasizing on improvements in terms of efficiency, patient compliance, as well as cost effectiveness of their products. Also, the increasing acceptance of oral appliances by patients is helping the market to grow significantly.
The sleep apnea devices market has accounted value of USD 3.9 billion in 2015 and is expected to reach USD 6.6 billion by 2022, growing at a CAGR of 7.7%. The market is segmented into product type diagnostic and treatment devices. In 2016 the treatment devices segment is expected to dominate the market. Due to the excessive usage of sleep apnea devices in treatment home healthcare leads in the end-users of these devices.
Based on geography the sleep apnea devices market is segmented into 5 regions North America, Europe, Asia-Pacific (APAC) and Middle East & Africa (MEA)). North America is expected to dominate the market followed by APAC and Europe. The European region is expected to grow at the highest CAGR owing to the increasing trend of awareness of sleep treatment and favorable reimbursement scenarios. The geographies are further segmented into countries in the respective regions; some major countries covered in the report are U.S., Canada, Mexico, Brazil, Germany, France, U.K., Spain, Italy, Russia, Turkey, Netherlands, Belgium, Switzerland, Japan, China, India, Australia among others.
The global sleep apnea devices market report contains an in-depth profiling of the key market players, along with the recent developments (New product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market. Philips Respironics, a subsidiary of Philips Healthcare (Netherlands); ResMed; Fisher and Paykel Healthcare, Ltd.; Compumedics Limited, Carefusion Corporation, Curative Medical, Inc., BMC Medical Co., Ltd., Natus Medical Inc., DeVilbiss Healthcare, Global Medical Holdings, LLC, Itamar Medical, Ltd., and Weinmann Medical Devices GmbH & Co. KG among others, are some of the key players engaged in this market.