The sleep apnea devices market will stand approximately USD 6.8 billion in 2020. It is estimated to rise at 7.7% CAGR during 2014 to 2020 (forecast period). Multiple sleep disorders globally have a huge market impact. Sleep apnea comorbidities like diabetes, high blood pressure, congestive heart failure, obesity, and atrial fibrillation also trigger market sales.
Moreover, increasing lifestyle diseases propel the sleep apnea devices market. The old population is susceptible to sleep disorders and propels the use of these devices. As per the ‘World Health Organization,’ the ‘over 65 years old’ population would grow from 7% in 2000 to 16% by 2050.
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Technically innovative market devices that don’t need machines, masks, and outer power sources should steer the market. Moreover, a huge group of patients suffering from ‘sleep apnea’ remains undiagnosed. This furthers governmental proposals for untimely detection, thus opening novel opportunities for the sleep apnea devices market. The market is divided into products and regions.
Product segments include diagnostic and therapeutic. Actigraphy systems, respiratory polygraph, single channel screening pulse oximeters, respiratory polygraph, and polysomnography are the diagnostic products. Oxygen equipment, airway clearance system, oral appliances, positive airway pressure, and adaptive servo ventilation are the therapeutic products.
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The products sleep apnea devices market was led by diagnostic. Diagnostic devices occupied significant shares. Patients’ awareness regarding preventive & untimely detection will drive these devices in the future. Actigraphy systems would experience profits due to their continuous & advanced monitoring feature. Therapeutic devices are also predicted to grow significantly.
Awareness regarding the disease and complexities associated with it would increase the use of therapeutic devices. The regional segments comprise North America, Asia Pacific, Europe, and rest of the world. North America led the sleep apnea devices market, with more than 36% shares. Enhanced medical infrastructure and rising disposable earnings will propel the region.
Asia Pacific should remain lucrative during the coming years. Fiscal expansion in China & India and better medical supply are estimated to steer regional demand. Major companies in the global sleep apnea devices market cover Curative Medical Inc., Phillips Healthcare, BMC Medical Co. Ltd., and Invacare Corporation. Their strategies encompass collaborations and new product developments.
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