DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Sleep Apnea Devices Market by Product, Therapeutic (CPAP, APAP, BPAP, Masks, Oral Appliances (Mandibular Advancement Device), Diagnostic (PSG, Pulse Oximeter), End User (Home Care Settings, Hospitals) - Analysis & Global Forecasts to 2021" report to their offering.
The 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 the forecast period.
The growth of the overall sleep apnea devices market can be attributed to the growing awareness regarding the ill effects of sleep apnea, growing usage of oral appliances for sleep apnea treatment, and the large pool of undiagnosed and untreated sleep apnea patients. Additionally, technological advancements in sleep apnea devices are also supporting the growth of this market.
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.
The PAP devices segment is estimated to account for the largest share of the global sleep apnea therapeutic devices market in 2016. Technological advancements have made these devices compact, comfortable, and easy to use to ensure better patient compliance; this is expected to ensure steady growth for the PAP devices market in the coming years. The oral appliances segment is projected to register the highest CAGR during the forecast period.
The PSG devices segment is estimated to account for the largest share of the global sleep apnea diagnostic devices market in 2016. These devices are used to study the sleep patterns and physiological functions of a patient during sleep. Furthermore, the single-channel screening devices segment is projected to register the highest CAGR in the forecast period. The high growth of this segment can be attributed to its noninvasive and painless cardiorespiratory monitors that are used to assess the oxygen saturation level of arterial blood.
Market Dynamics
Drivers
- Growing Awareness Regarding the Ill Effects of Untreated Sleep Apnea in North America
- Growing Usage of Oral Appliances
- Technological Advancements
- Disability Tax Credit for Sleep Apnea in Canada
- Large Pool of Undiagnosed Sleep Apnea Patients
Restraint
- Alternative Treatments for Sleep Apnea
Opportunities
- Emerging Markets in Developing Countries
- Influx of Vc Funding
- Companies Venturing Into the Sleep Apnea and Oral Appliances Market
Challenge
- Lack of Patient Compliance
Companies Mentioned
- BMC Medical Co., Ltd.
- Braebon Medical Corporation
- Compumedics Limited
- Devilbiss Healthcare Llc
- Fisher & Paykel Healthcare Ltd.
- Philips Healthcare
- Resmed, Inc.
- Somnomed Limited
- Weinmann Medical Devices Gmbh
- Whole You, Inc.
For more information about this report visit http://www.researchandmarkets.com/research/sdqfmq/sleep_apnea
