Sleep apnea devices market is projected to reach USD 6.70 billion by 2021 from USD 4.59 billion in 2016, growing at a CAGR of 7.8% during forecast period. Growth of overall sleep apnea devices market can be attributed to growing awareness regarding ill effects of sleep apnea, growing usage of oral appliances for sleep apnea treatment, & large pool of undiagnosed and untreated sleep apnea patients.
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The global sleep apnea devices market is segmented on the basis of product, end user, and region. On the basis of product, the therapeutic devices segment is expected to command the largest share of the global sleep apnea devices market, in 2016; it is also expected to grow at the highest CAGR during the forecast period.
The large market share of this segment can be attributed to the wide use of these compact devices in the treatment of sleep apnea.
Complete Report on Sleep Apnea Devices Market spread across 177 Pages, Profiling 11 Companies and Supported with 142 Tables and 39 Figures is now available at www.rnrmarketresearch.com/sleep-ap…arket-report.html .
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In 2016, North America is expected to account for the largest share of the market. On the other hand, Europe is expected to register the highest CAGR during the forecast period.
This can be attributed the new legislation of PAP devices, growing funding and grants for sleep apnea devices and treatment, introduction of new devices in the European market, and focus of industry players are likely to boost market growth in the region.
Stakeholders of the Sleep Apnea Devices Market
- Sleep apnea device manufacturers
- Sleep apnea device suppliers and distributors
- Medical research institutes
- Venture capitalists
- Community centers
- Regulatory bodies
Factors such as growing awareness regarding ill effects of sleep apnea, growing usage of oral appliances for sleep apnea treatment, & large pool of undiagnosed and untreated sleep apnea patients are driving growth of market. Additionally, technological advancements in sleep apnea devices is also supporting growth of market.
On other hand, lack of patient compliance and alternative treatments for sleep apnea are factors restricting market growth to a certain extent. Emerging markets in developing countries and increasing venture capital (VC) funding are expected to provide immense opportunities for players in market.
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In-depth interviews were conducted with CEOs, sales and marketing directors, other innovation and technology directors, and executives from various key organizations operating in the sleep apnea devices market.
- By Company Type: Tier 1: 50%, Tier 2: 42%, Tier 3: 8%
- By Designation: Director Level: 58%, C-level: 25%, Others: 17%
- By Region: North America: 51.9%, Europe: 32.6%, APAC: 10.5%, RoW: 5.0%
The global market is segmented on the basis of product and end user. On the basis of product, the market is categorized into therapeutic devices and diagnostic devices.
In 2016, the therapeutic devices segment is projected to command the largest share of the global sleep apnea devices market. This segment is also expected to grow at the highest growth rate in the forecast period.
This growth can be attributed to the wide use of these compact devices in the treatment of sleep apnea.
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On basis of diagnostic devices, PSG devices segment is estimated to account for largest share of market in 2016. These devices are used to study sleep patterns and physiological functions of a patient during sleep.
Furthermore, single-channel screening devices segment is projected to register highest CAGR during forecast period. High growth of this segment can be attributed to its noninvasive and painless cardiorespiratory monitors that are used to assess oxygen saturation level of arterial blood.
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