Sleep Apnea Devices Market Size Worth $12.1 Billion By 2027 – Nova One Advisor

SHARE THIS ARTICLE

[150+ Pages Research Report] According to the recent analysis research report; the global Sleep Apnea Devices Market in 2020 was approximately USD 6.9 Billion. The market is expected to grow at a CAGR of 7.4% and is anticipated to reach around USD 12.1 Billion  by 2027. Top market players are esMed; Phillips Respironics; Fisher & Paykel Healthcare Limited; Curative Medical, Inc.; Invacare Corporation; Somnetics International, Inc.; BMC Medical Co., Ltd.; Natus Medical Incorporated; SOMNOmedics GmbH; Compumedics Limited; Itamar Medical Ltd.; Nihon Kohden Corporation.

Overview of Sleep Apnea Devices Market Study

Sleep Apnea Devices market study conducted by Nova One Advisor is intended at helping stakeholders get a comprehensive overview of potential challenges and undiscovered opportunities. The report offers exclusive insights to help companies and their customers to make informed decision to sustain growth through the assessment period.

Get your Customized Research Report@ https://www.novaoneadvisor.com/report/customization/5785

Growth Factors:

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.

Emerging markets in Asian countries are expected to offer strong growth opportunities for players in the market. In contrast, the high cost of CPAP machines, complex referral pathways, long waiting periods, and product recalls may restrict market growth to a certain extent. The sleep apnea devices market is segmented based on type, end user and region.

Global Sleep Apnea Devices Market Dynamics
DRIVER: 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/
The massive pool of undiagnosed patients of sleep apnea holds tremendous potential for the sleep apnea devices market. It is expected with the ongoing awareness campaigns and efforts, the untouched patients base would be diagnosed and treated for the sleep apnea. The increasing trend of oral appliances and home sleep care for the management of sleep apnea are pushing the growth of the market. Over past few years, there is an increasing number of companies venturing into the sleep apnea market.

RESTRAINT: The high cost of CPAP machines, complex referral pathways, long waiting periods, and product recalls
The high expenses of the CPAP machines are burden to the patients of sleep apnea, the expenses of these machines are sparsely covered by Medicare in the US, while other countries don’t cover any cost of CPAP. The medical visits to multiple locations, the inconvenient and high cost of diagnosis, and therapy creates a huge hurdle for patients.

OPPORTUNITY: Growing demand for home sleep apnea tests (HSATs), and increasing focus on telemedicine, mHealth (mobile health), and artificial intelligence
People are opting more for the home sleep apnea tests (HSATs) due to their affordability and comfort of sleep apnea management at home. The telemedicine has witnessed a surge in the demand maid the pandemic. The incoming advanced technologies in the domain of sleep apnea devices such as Artificial Intelligence (AI) are also creating more opportunities for the market.

CHALLENGES: Lack of patient compliance
The lack of patient compliance to CPAP therapy is a challenging aspect in the growth of the market. Treatment compliance, especially of the CPAP, has always been an issue with sleep apnea patients. This is mainly due to the lack of affordability and comfort.

Therapeutic devices segment dominated the sleep apnea devices market in 2020.
Based on type, the sleep apnea devices market is segmented into therapeutic and diagnostic devices. Therapeutic devices account for the largest share of the sleep apnea devices market. The largest share of the segment is driven by 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. The home care settings/individuals’ segment is expected to grow at the fastest pace during the forecast period.
Based on end user, 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 in the sleep apnea devices market in 2020. However, the home care settings/individuals’ segment is estimated to grow at the highest CAGR from 2021 to 2026, owing to 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 was the largest regional market for sleep apnea devices market in 2020.
The sleep apnea devices market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2020, North America was the largest regional segment of the overall market, followed by Europe. The large share of North American can be attributed to the increasing prevalence of the sleep apnea, growing awareness, wide usage of oral appliances for sleep apnea and the of the leading players, such as ResMed, and Inspire Medical Systems, Inc., in the region.

Buy Complete Assessment of Sleep Apnea Devices market Now@ https://www.novaoneadvisor.com/report/checkout/5785

COVID-19 Impact on Sleep Apnea Devices Sales

Businesses today are operating in a dynamic environment. Earlier focus primarily concentrated on keeping pace with changing consumer preferences. COVID-19 outbreak was unprecedented and exposed vulnerabilities of various industries. Pandemic-induces obstacles also were registered in the Sleep Apnea Devices market.

Sales plummeted as COVID-19 gradually tightened its noose worldwide. Supply-chain disruptions caused massive losses, while demand took nose-dive as consumers remained indoors with affected countries implementing either partial or complete lockdown.

Gradual recovery however is on the cards with the roll out of vaccinations. Nonetheless, consecutive waves of the virus compelled businesses to stay prepared for the worst. As government and healthcare organizations successfully implement steps to contain the spread of COVID-19, industries have begun operations, albeit at a slow and more cautious pace.

Against this backdrop, Nova one advisor’s study predicts gradual recovery for the Sleep Apnea Devices market 2021 onwards. This trend will however continue through the course of the report’s assessment period

Key Players:

This report provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the Sleep Apnea Devices market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.

Some of the prominent players in the Sleep Apnea Devices market include:

ResMed; Phillips Respironics; Fisher & Paykel Healthcare Limited; Curative Medical, Inc.; Invacare Corporation; Somnetics International, Inc.; BMC Medical Co., Ltd.; Natus Medical Incorporated; SOMNOmedics GmbH; Compumedics Limited; Itamar Medical Ltd.; Nihon Kohden Corporation.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:

By Type

  • Therapeutic Devices
    • Positive Airway Pressure Devices
      • Automatic Positive Airway Pressure Devices
      • Continuous Positive Airway Pressure Devices
      • Bilevel Positive Airway Pressure Devices
    • Facial Interfaces
      • Masks
        • Full-Face Masks
        • Nasal Pillow Masks
        • Nasal Masks
      • Cushions
    • Accessories
    • Oral Appliances
      • Mandibular Advancement Devices
      • Tongue-Retaining Devices
    • Adaptive Servo-Ventilators
    • Other Therapeutic Devices
  • Diagnostic Devices
    • Polysomnography Devices
      • Ambulatory PSG Devices
      • Clinical PSG Devices
    • Home Sleep Testing Devices
    • Oximeters
      • Fingertip Oximeters
      • Handheld Oximeters
      • Wrist-Worn Oximeters
      • Tabletop Oximeters
    • Actigraphy Systems
    • Sleep Screening Devices

By End User

  • Sleep Laboratories & Hospitals
  • Home Care Settings/Individuals

Why Buy this Report?

The purpose of Nova one advisor’s Sleep Apnea Devices market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

Download This Full Research Report, Click Here@ https://www.novaoneadvisor.com/report/checkout/5785

About Us

Nova One Advisor is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Nova One Advisor has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@novaoneadvisor.com

Web: https://www.novaoneadvisor.com/

James Root

James Root have over 6+ years of experience working in business development, and customer retention. I’ve gained my experience through serving higher education, healthcare, automotive, aerospace, manufacturing, local government and hospitality businesses with technical solutions.

View all posts by James Root →

Leave a Reply

Your email address will not be published. Required fields are marked *