Sleep Apnea Devices Market to Hit Around US$ 9.5 Bn by 2026

Acumen Research and Consulting, Recently Published Report On “Sleep Apnea Devices Market Pipeline Review, Size, Share, Trends, Growth and Forecast 2019-2026”.

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LOS ANGELES, June 25, 2019 (GLOBE NEWSWIRE) -- The global sleep apnea devices market is estimated to grow at CAGR above 7.2% over the forecast time frame 2019 to 2026 and reach the market value around USD 9.5 billion by 2026.

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Apnea happens when inadequate oxygen comes to the body and brain, and when sleep stops the process of breathing. OSA is the most prevalent type of airway obstruction apnea. To prevent this, diagnostic testing and use of therapeutical therapy equipment are essential for patients. OSA is common among the elderly, cardiovascular patients, and other non-communicable diseases like diabetes, hypertension, and remained underdiagnosed due to absence of knowledge, bad healthcare infrastructure and non-specific illness presentations in developing nations.

The increased sleep apnea incidence in the globe and the increasingly geriatric demographic basis are expected to increase the market volume of sleep apnea machines over the forecast timeframe. Changes in lifestyle, causing cardiovascular disease, poor sleep patterns and stances, elevated rates of stress and obesity, will continue to boost the industry's development. With age and obesity among humans, the prevalence of sleep apnea is increasing. The snoring habit of adults is consistent, leading to an increase in the rate of obstructive sleep apnea. Lack of patient conformity and elevated sleep apnea-related costs should nevertheless restrict development in the sector.

Advances in sleep apnea technology led to the growth of a range of standard sleep apnea therapies. Moreover, a number of businesses are working to develop sophisticated equipment that raises demand for such equipment. Large untapped possibilities in emerging countries will increase development in the sector over the forecast period. Increased awareness and a positive reimbursement scenario of sleep apnea illnesses will increase device adoption rate.

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Increased awareness, geriatric population, disease prevalence and the need for effective diagnostics and OSA therapy include factors that encourage sleep apnea market growth. Introduction of technological advances to patient safety and convenience is anticipated particularly in developed markets like North America to enhance therapy consistency. Due to elevated product acceptance and public efforts to reduce health care spending connected with OSA, North America is one of the mature markets of the world.

Over the forecast timeframe, the size of the market for oral therapeutic equipment will be strong. The increased use of oral equipment for patients is therefore very recommended for individuals with mild to moderate obstructive sleep apnea and patients with CPAP treatment will raise the product demand. Actigraphy schemes are expected to see considerable development over the forecast timeframe. Growth is due to increased rates of use and cost-effective equipment. The system also tracks patients' sleep and wake patterns or circadian rhythm. The development of sophisticated technology goods should lead in polysomnography (PSG) systems to profitable growth.

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Geographically, North America is anticipated to accumulate the highest market share in 2018. This regional development is primarily driven by the growing prevalence of sleep illnesses and by increased government and non-governmental projects to raise awareness of sleep and sleep hygiene. Several governments run programs to raise awareness of good sleeping habits for individuals and physicians. The main actors in the regional market invest a enormous amount of capital to create sleep apnea equipment that are technologically efficient, efficient and simple to use.

Key Players & Strategies

The sleep apnea devices market consists of major vendors such as BMC Medical Co. Ltd; Braebon Medical Corporation; Nihon Kohden; Cadwell Laboratories; ResMed; ImThera Medical Inc.; Invacare Corporation; Fisher & Paykel Healthcare Limited; GE Healthcare; Curative Medical Inc.; Curative Medical Inc.; Phillips Respironics; and Compumedics Limited.

The market for sleep apnea devices is extremely competitive and includes several leading players worldwide. In addition, increasing technological advances and product innovations increase the existence of medium and small businesses in the market by putting fresh equipment on the market at competitive rates.

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