The 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.
Unhealthy eating patterns, surge in consumption of alcohol and cigarettes are causing disease such as sleep disorder, therefore the demand for the global sleep apnea device is projected to surge in the forthcoming years. Also, increasing consciousness among patients, rising geriatric population, growing occurrence of sleep apnea along with the need for efficient diagnosis devices are clubbed together to drive the need for better and improvised sleep apnea devices over the forecast period.
Occurrence of sleep apnea surges the risk of other diseases for instance, abnormal glucose metabolism, high blood pressure, depression heart disease, diabetes, systemic hypertension, and strokes. Which is why it is very important to diagnose the sleep apnea and develop advance device to cure sleep apnea.
Among regions North America, hold the largest market share in the global sleep apne market due to fast adoption of advance healthcare devices in the region. Also supportive government regulation to promote healthcare in the U.S is driving the growth of the industry in forthcoming years. Apart from this increase in population Asia pacific countries such as China and India are creating more opportunity for sleep apnea device manufacturers to penetrate their business in APAC economies.
Among product segment, Diagnostics devices sub- segment holds for largest revenue share in 2017 and anticipated to maintain its position over the forecast timeframe. Growing need for early diagnosis and rising patient awareness levels is anticipated to develop usage rates of diagnostic devices in forth coming years.
The global players operating in the global sleep apnea device market includes Drive DeVilbiss Healthcare, SomnoMed, Whole You, Löwenstein Medical, BMC Medical, Cadwell Laboratories, Carefusion, Fisher & Paykel Healthcare, GE HealthcareBraebon, Invacare, Philips, Medical, Compumedics, and ResMed.
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