The sleep apnea devices market is projected to reach USD 9.9 billion by 2026 from USD 7.1 billion in 2021, at a CAGR of 6.9% during the forecast period. Market growth is mainly driven by factors such as the large pool of undiagnosed sleep apnea patients, growing awareness about the ill effects of untreated sleep apnea, growing usage of oral appliances, and an increasing number of companies venturing into the sleep apnea market. In contrast, the high cost of CPAP machines, complex referral pathways, long waiting periods, and product recalls are expected to limit market growth to a certain extent during the forecast period. The sleep apnea devices market is segmented based on type, end user and region.
Therapeutic devices accounted for the largest share of the Sleep Apnea Devices Market and is expected to grow at the highest CAGR in the forecast period. Based on type, the sleep apnea devices market is segmented into therapeutic and diagnostic devices.The therapeutic devices segment accounted for the largest market share and is also expected to register the highest CAGR during the forecast period.
Growth in this segment can be attributed to the expanding pool of diagnosed sleep apnea patients, increasing adoption of sleep apnea therapeutic devices, and the improving reimbursement scenario for these devices. Sleep laboratories & hospitals account for the largest share of the Sleep Apnea Devices Market in 2020. The home care settings/individuals’ segment is expected to grow at the fastest rate during the forecast period.
Based on end users, the sleep apnea devices market is segmented into sleep laboratories & hospitals and home care settings/individuals.The sleep laboratories & hospitals segment accounted for the largest share of the sleep apnea devices market.
However, the home care settings/individuals’ segment is estimated to grow at the highest CAGR during the forecast period. The increasing preference for home sleep testing by both patients and insurance companies, coupled with the favourable reimbursement scenario for home sleep testing.
North America will dominate the market during the forecast period. Geographically, the sleep apnea devices market is segmented into North America, Europe, the Asia Pacific, and Rest of the World.In 2020, North America accounted for the largest share of the sleep apnea devices market.
The large share of the North American market can be attributed to the increasing prevalence of the sleep apnea, growing awareness, wide usage of oral appliances for sleep apnea and of the leading players, such as ResMed, and Inspire Medical Systems, Inc., in the region.
The primary interviews conducted for this report can be categorized as follows: • By Company Type - Tier 1: 55%, Tier 2: 40%, and Tier 3: 5% • By Designation - C-level: 37%, D-level: 48%, and Others: 15% • By Region - North America: 56%, Europe: 20%, Asia Pacific: 17%, and Rest of the World: 7%
List of Companies Profiled in the Report • ResMed (US) • Koninklijke Philips N.V. (Netherlands) • Fisher & Paykel Healthcare (New Zealand) • Inspire Medical Systems, Inc. (US) • Löwenstein Medical Technology GmbH + Co. K.G. (Germany) • SomnoMed (US) • Oventus Medical (Australia) • Compumedics (Australia) • Nihon Kohden (Japan) • Natus Medical (US) • Itamar Medical (Israel) • Whole You, Inc. (US) • Drive DeVilbiss Healthcare (US) • BMC Medical Co. Ltd. (China) • BRAEBON Medical (Canada) • Invacare Homecare (US) • Nidek Medical India (India) • Curative Medical (US) • LivaNova (UK) • Panthera Dental (Canada) • Myerson LLC (US)
Research Coverage: This report provides a detailed picture of the global sleep apnea devices market.It aims at estimating the size and future growth potential of the market across different segments, such as type, end user and region.
The report also analyzes factors (such as drivers, restraints, opportunities and challenges) affecting market growth.It evaluates the opportunities in the market for stakeholders and provides details of the competitive landscape for market leaders.
The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total sleep apnea devices market. The report forecasts the revenue of the market segments with respect to four major regions.
Reasons to Buy the Report:
The report provides insights on the following pointers: • Market Penetration: Comprehensive information on sleep apnea devices offered by the top 14 players in the sleep apnea devices market. The report analyses the sleep apnea devices market by type, end user and region. • Market Development: Comprehensive information about lucrative emerging markets. The report analyses the markets for various sleep apnea devices across key geographic regions. • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the sleep apnea devices market. • Competitive Assessment: In-depth assessment of market ranking and strategies of the leading players in the sleep apnea devices market.
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