The global sleep apnea devices accounted for USD 3.75 billion in 2015 and is estimated at USD 4.03 billion in 2016. The market is expected to reach USD 5.7 billion by 2021, growing at a CAGR of 7.45% during the forecast period. Sleep apnea devices have seen a huge growth due to the increase in their use to maintain a healthy and productive lifestyle.
The rising incidences of sleep apnea associated with the prevalence of diabetes, heart diseases, respiratory ailments, increasing awareness among the patient population in developing countries, favorable government initiatives and technical advancements have all driven the market of sleep apnea devices worldwide.
However, the high costs of devices, the availability of alternative treatment options and huge competition in the market are restraining the growth of the market.
The large untapped patient pool in the developing countries of Asia, South Africa and others have attracted many market players to invest in sleep apnea devices in the region. However, they are faced with the challenges of patient compliance and reimbursement issues prevalent among many countries.
The global sleep apnea device market has been segmented based on
The diagnostic devices segment has the maximum market share as compared to the therapeutic devices. Geographically, the market is segmented into North America (the USA, Canada, and Mexico), Europe (the UK, Germany, Italy, France, Spain, Portugal, Scandinavia, and the Benelux Union), Asia-Pacific (India, China, Japan, Australia and New Zealand, South Korea and others), Middle East & Africa (GCC countries, South Africa and others) and Latin America (Brazil, Argentina and others). North America accounted for the highest market value in 2015 and is expected to show similar trends till 2021.
Some of the key players in the global market include –
Cadwell Laboratories, Inc
Market analysis for the global sleep apnea device market, with region specific assessments and competition analysis.
Market definition along with the identification of key drivers, restraints opportunities and challenges.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with company profiles of key players along with the analysis of their current strategic interests and key financial information.
Identification and analysis of the macro and micro factors that affect the global sleep apnea device market.
Insights of the market in the regions that have the highest potential for growth and also identify the markets that are still untapped.
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