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Sleep Apnea Devices (CPAP, APAP, Masks, ASV, Oral Appliances, Mandibular Advancement) Market - Global Forecasts to 2024 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--

The "Sleep Apnea Devices Market by Type, (Therapeutic (CPAP, APAP, Masks, ASV, Oral Appliances, Mandibular Advancement Device)), Diagnostic (PSG, Oximeter), End User (Sleep Laboratories, Hospitals, Home Care Settings) - Global Forecasts to 2024" report has been added to ResearchAndMarkets.com's offering.

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.

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.

Major players in the market include:

  • ResMed (US)
  • Koninklijke Philips (Netherlands)
  • Fisher & Paykel Healthcare (New Zealand)
  • SomnoMed (US)
  • Oventus Medical (Australia)
  • Compumedics (Australia)
  • Lwenstein Medical (Germany)
  • Drive DeVilbiss Healthcare (US)
  • BMC Medical (China)
  • Braebon Medical (Canada)
  • Panthera Dental (Canada)

For more information about this report visit https://www.researchandmarkets.com/r/9d5lew

View source version on businesswire.com: https://www.businesswire.com/news/home/20190527005187/en/