Shibuya-ku, Tokyo, Japan, Japan, May 19, 2021, 10:49 /Comserve / -- Major players in the market include ResMed (US), Koninklijke Philips (Netherlands), Fisher & Paykel Healthcare (New Zealand), SomnoMed (US), Oventus Medical (Australia), Compumedics (Australia), Löwenstein Medical (Germany), Drive DeVilbiss Healthcare
The global sleep apnea devices market is projected to reach 7.5 billion by 2024 from USD 4.5 billion in 2019 at a CAGR of 10.7%. Growth in the sleep apnea devices market can be attributed to 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, technological advancements in sleep apnea devices, considerable venture capital funding, and the increasing number of companies venturing into sleep apnea and oral appliances markets. However, the high cost of CPAP machines and complex referral pathways & long waiting periods may prove to be restraints for the market.
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Major players in the market includes
ResMed (US),
Koninklijke Philips (Netherlands),
Fisher & Paykel Healthcare (New Zealand),
SomnoMed (US),
Oventus Medical (Australia),
Compumedics (Australia),
Löwenstein Medical (Germany),
Drive DeVilbiss Healthcare (US),
BMC Medical (China),
Braebon Medical (Canada), and
Panthera Dental (Canada).
“The therapeutic devices segment is expected to hold the largest market share during the forecast period.”
On the basis of type, the sleep apnea devices market has been segmented into therapeutic devices and diagnostic devices. The therapeutic devices segment accounted for the largest share of the market during the forecast period and is projected to register the highest CAGR. The large share and high growth in the therapeutic devices segment can be attributed to the increasing pool of undiagnosed sleep apnea patients and the improving reimbursement scenario for these devices across the globe.
“The sleep laboratories & hospitals segment accounted for the largest share in 2018.”
On the basis of end user, the sleep apnea devices market has been segmented into sleep laboratories & hospitals and home care settings/individuals. The sleep laboratories & hospitals segment commanded the largest share of the market in 2018 while home care settings/individuals end-user segment is estimated to grow at the highest CAGR during the forecast period; The high growth of the home care settings/individuals’ segment can be attributed to factors such as increasing preference for home sleep testing by both patients and insurance companies, coupled with the favorable reimbursement scenario for home sleep testing.
“The Asia Pacific region of the sleep apnea devices market is expected to grow at the highest rate during the forecast period.”
Geographically, the sleep apnea devices market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. The Asia Pacific market is expected to grow at the highest rate during the forecast period. Higher growth in this region is attributed to factors like the presence of a large undiagnosed patient pool in countries such as India, strategic agreements between global market leaders and regional players, and initiatives undertaken by government and other private organizations to raise awareness regarding sleep disorders in this region.
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Breakdown of supply-side primary interviews:
By Company Type: Tier 1 – 55%, Tier 2 – 40%, and Tier 3 – 5%
By Designation: C-level – 37%, Director-level – 48%, and Others – 15%
By Region: North America - 56%, Europe – 20%, APAC – 17%, and RoW – 7%
Research Coverage
This report studies the sleep apnea devices market based on type, end user, and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth. It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.
Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the sleep apnea devices market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
TABLE OF CONTENTS
1 INTRODUCTION 22
1.1 OBJECTIVES OF THE STUDY 22
1.2 MARKET DEFINITION 22
1.3 MARKET SCOPE 22
1.3.1 MARKETS COVERED 23
1.3.2 YEARS CONSIDERED FOR THE STUDY 23
1.4 CURRENCY 24
1.5 LIMITATIONS 24
1.6 STAKEHOLDERS 24
2 RESEARCH METHODOLOGY 25
2.1 RESEARCH DATA 25
2.1.1 SECONDARY AND PRIMARY RESEARCH METHODOLOGY 27
2.1.1.1 Secondary research 27
2.1.1.1.1 Key data from secondary sources 27
2.1.1.2 Primary research 28
2.1.1.2.1 Key data from primary sources 29
2.1.1.2.2 Key insights from primary sources 30
2.1.2 MARKET SIZE ESTIMATION METHODOLOGY 30
2.2 MARKET DATA VALIDATION AND TRIANGULATION 32
2.3 ASSUMPTIONS FOR THE STUDY 33
3 EXECUTIVE SUMMARY 34
4 PREMIUM INSIGHTS 38
4.1 SLEEP APNEA DEVICES: MARKET OVERVIEW 38
4.2 SLEEP APNEA DEVICES MARKET, BY TYPE, 2019 VS. 2024 (USD MILLION) 39
4.3 SLEEP APNEA THERAPEUTIC DEVICES MARKET, BY TYPE,
2019 VS. 2024 (USD MILLION) 39
4.4 SLEEP APNEA DEVICES MARKET SHARE, BY END USER (2019 VS. 2024) 40
4.5 GEOGRAPHICAL SNAPSHOT OF THE SLEEP APNEA DEVICES MARKET 41
5 MARKET OVERVIEW 42 CONT...
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