Global sleep apnea device market is valued USD 4.2 Billion in 2017 and is projected is to exhibit 7.9% CAGR during the forecast period. The market is projected to be around USD 7.7 Billion by 2026. The market is driven by the rise of lifestyle diseases such as obesity.
Sleep apnea is a disorder in which a patient stops breathing for few seconds at night either because of airway blockage or due to signal from the brain is not received. In unadorned conditions, a person patient of the suffer stops breathing for more than 10 times in an hour. Sleep apnea is also a lifestyle related disease and mostly occurs in geriatric and obese population.
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Leading Market Players –
Fisher & Paykel Healthcare
Increasing occurrence of sleep apnea disorder globally paired with increasing geriatric population base is projected to drive the sleep apnea device market during the forthcoming years. Also, lifestyle associated revolution that causes cardiovascular diseases, high stress levels, obesity, unhealthy sleep patterns and postures are expected to boost the growth of the sleep apnea device industry.
Occurrence of sleep apnea is increasing with age and obesity level among persons. Adult populace have consistent habit of snoring that leads to increasing occurrence rate of disruptive sleep apnea. Though, scarcity of patient compliance and costly sleep apnea devices are projected to restrain the growth of the sleep apnea device market.
North America holds the major market share of the global sleep apnea device market due to presence high occurrence of sleep related diseases, progressive healthcare services, augmented investment in research and development and availability of progressive technology products in the region are driving the demand for sleep apnea device market.
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The global sleep apnea device market is segmented into product and region. On the basis of the product the market is further bifurcated into therapeutics device and diagnostics device. The therapeutics device are further segregated into oxygen devices, airway clearance system, positive airway pressure (pap), oral appliance and adaptive servo-ventilation. Also diagnostic devices are further segmented into Single-Channel Screening Devices (Pulse Oximeter}, Actigraphy System, Respiratory Polygraph, and Polysomnography Device (PSG). Based on the geography the market is further segregated into North America, Latin America, Europe and Asia Pacific.
The players associated with the global sleep apnea device market are Fisher & Paykel Healthcare, Philips, Carefusion, Braebon Medical, Invacare, GE Healthcare, Compumedics, Cadwell Laboratories, and ResMed. These players are focusing on merger & acquisition to extract more business opportunity for instance, In May 2017, Philips announced acquisition of Respiratory Technologies, Inc. The objective of this acquisition is to expand Philip’s sleep and respiratory care business segment.
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