North America Sleep Apnea Device Market is Driven by Surge in Government Spending to Improvise Healthcare Infrastructure
Published Date : Jan 2020
“Global Sleep Apnea Device Market accounted for USD 4.2 Billion in 2019 and is expected to reach USD 7.7 Billion by 2026 growing at a CAGR of 7.9% during the forecast period from 2017 to 2026”
ResMed (US), Koninklijke Philips (Netherlands), and Fisher & Paykel Healthcare (New Zealand) are the key players in the sleep apnea devices market. Other players involved in this market are SomnoMed (Australia), Compumedics (Australia), Löwenstein Medical (Germany), Whole You (US), BMC Medical (China), Drive DeVilbiss Healthcare (US), and Braebon Medical (Canada). during the forecast period. The market is driven by the growing occurrence of sleep disorders. The market is projected to be around USD 7.7 Billion by 2026. Increasing awareness among patients coupled with growing number of cardiovascular diseases is projected to surge the sleep apnea devices market size.
North America holds the major market share of the global sleep apnea device market owing to presence of advance, improved progressive healthcare services. Growing occurrence of sleep disorders and early recognition and diagnosis of diseases is expected to drive the demand for sleep apnea devices in European countries such as Germany.
The global sleep apnea device market is bifurcated into product and region. On the basis of the product the market is further segmented into diagnostics device and therapeutics device. The therapeutics device are further segregated into adaptive servo-ventilation, airway clearance system, oxygen devices, positive airway pressure (pap), and oral appliance. Likewise, diagnostic devices are further segregated into Single-channel screening devices (pulse oximeter}, respiratory polygraph, actigraphy system, and polysomnography device (PSG). Based on the region the market is further segregated into North America, Latin America, Europe and Asia Pacific.
The global players catering to the sleep apnea device market includes Invacare, Carefusion, Philips, GE Healthcare, Fisher & Paykel Healthcare, Braebon Medical, Compumedics, Cadwell Laboratories, SomnoMed, Löwenstein Medical, Whole You, BMC Medical, and Drive DeVilbiss Healthcare and ResMed. The small players such as Respicardia Inc., are investing money to develop better and efficient products, for instance Respicardia Inc., raised approximately USD 5.1 million for a pivotal trial of its implantable, pacemaker-like device for the treatment of sleep apnea.