Westford,USA, Nov. 02, 2022 (GLOBE NEWSWIRE) -- SkyQuest has released an analysis of the growing demand for sleep apnea devices market. The report notes that the use of these devices has increased significantly in recent years, and that the majority of users are adults. This can be attributed to several factors that may be driving the growth of sleep apnea device use, including the increasing prevalence of obesity and sleep disorders, and the availability of more effective and comfortable devices. It was also observed that awareness of sleep apnea and its potential consequences has grown in recent years.
Sleep apnea can lead to a number of health problems, including high blood pressure, heart disease, stroke, and diabetes. It can also cause daytime fatigue and make it difficult to concentrate or focus on tasks.
The most common treatment for sleep apnea is continuous positive airway pressure (CPAP) therapy in the global sleep apnea devices market. CPAP devices deliver measured doses of air through a mask worn during sleep. The air pressure keeps the airways open and prevents pauses in breathing. CPAP therapy is very effective, but it can be uncomfortable for some people. As a result, many people with sleep apnea are seeking alternative treatments.
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CPAP Machines Accounts Over 60% Sales of Value of Sleep Apnea Devices Market
The FDA has approved several types of oral devices for the treatment of sleep apnea. These devices fit into the mouth and help keep the airway open during sleep. They are much less invasive than CPAP machines and may be more comfortable for some people to use. However, CPAP machines are the most commonly used type of device and account for approximately 60% of total sales.
North America is the largest regional sleep apnea devices market, accounting for 41% of global sales in 2021. Europe is the second largest market with a 28% share, followed by Asia-Pacific with a 21% share.
The US Food and Drug Administration (FDA) has recently released an analysis of the growing demand for sleep apnea devices. The FDA estimates that there will be a need for 1.6 million CPAP machines and 2.4 million mouthpieces by 2025 in the US. The FDA's analysis indicates that the demand for sleep apnea devices will continue to grow in the coming years. This growth presents both opportunities and challenges for manufacturers of these devices. It will be important for manufacturers to keep up with the increasing demand while also ensuring that their products are safe and effective.
The report also found that the sleep apnea devices market is highly fragmented, with no single player accounting for more than 10% of total sales. This fragmentation presents both opportunities and challenges for companies operating in the space. On the one hand, there is significant room for growth for companies that can gain share in this rapidly growing market. On the other hand, the fragmentation makes it difficult for any one company to establish a clear leadership position.
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ResMed, Philips, and Fisher & Paykel Healthcare to Continue Leading Global Sleep Apnea Devices Market
The market is a highly competitive and rapidly changing industry. SkyQuest's competitive analysis of the market provides an overview of the key players, their products and strategies, and the current state of the market.
The sleep apnea devices market is led by ResMed, Philips, and Fisher & Paykel Healthcare. These companies together account for over 30% of the global market share. ResMed is the one of the leaders in terms of both revenues and profitability, followed by Philips. Fisher & Paykel Healthcare is a distant third with a much smaller market share but has been growing rapidly in recent years.
According to the report, one of Phillips' key strengths is its focus on innovation. The company has developed a number of new technologies that have helped it to gain market share in recent years. In addition, Phillips has a strong brand and is well-positioned to capitalize on the growing awareness of sleep apnea.
However, the report also highlights some areas where Phillips could improve. For example, the company's product range is relatively limited compared to its competitors. In addition, Phillips' distribution channels are not as extensive as those of its rivals. As a result, the company may find it difficult to reach all potential customers.
The sleep apnea devices market is highly fragmented with many small players accounting for the remaining market share. The top three companies have been able to maintain their dominance due to their strong product portfolios, brand recognition, and vast distribution networks. However, they are facing increasing competition from smaller players who are offering more specialized and innovative products.
SkyQuest's competitive analysis also looks at the emerging trends in the sleep apnea devices market. One of the most significant trends is the move towards home-use devices which are more convenient and comfortable for patients. This shift has been driven by advances in technology as well as greater awareness of the condition among patients and physicians. Another major trend is the increasing focus on patient outcomes rather than simply treating the symptoms of sleep apnea. This has led to new products that aim to improve patient compliance.
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Key Players in the Global Sleep Apnea Devices Market
- Koninklijke Philips N.V. (Amsterdam, Netherlands)
- Oventus, Indooroopilly (Australia)
- Cadwell Industries, Inc. (Kennewick, U.S.)
- ResMed (San Diego, U.S.)
- Fisher & Paykel Healthcare Limited (Auckland, New Zealand)
- Natus Medical Incorporated (Pleasanton, U.S.)
- SomnoMed (Sydney, Australia)
- DeVilbiss Healthcare LLC (Pennsylvania, U.S.)
- Braeburn Medical Corporation (Ontario, Canada)
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