New York, USA, Dec. 01, 2020 (GLOBE NEWSWIRE) -- The global therapeutic obstructive sleep apnea device market is expected to generate a revenue of $9,561.3 million at a CAGR of 9.6% during the forecast period, according to a recent report published by Research Dive. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, other market dynamics, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Market Dynamics
The main growth attributor behind the growth of the therapeutic obstructive sleep apnea is the rising awareness about the sleep apnea device. Left untreated, obstructive sleep apnea may further result in different health issues such as high blood pressure, diabetes. There is rising awareness about the fatality of sleep apnea and the positive applications of sleep apnea devices which is expected to be one of the major driving factor of the therapeutic obstructive sleep apnea devices market.
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The high cost of sleep apnea devices and claustrophobic experience that the patients have to go through while using these devices, are the major restraints behind the growth of therapeutic obstructive sleep apnea devices market.
The report has bifurcated the market into different segments based on type, end-use, and regional outlook.
Positive airway pressure segment will be the most lucrative
Positive airway pressure segment accounted for $2,569.39 million in 2018 and is further projected to generate a revenue of $5,218.43 million in 2026. Positive airway pressure helps in getting rid of the nighttime apnea cases and prevents the airways from collapse. This is one of the main reason behind the growth of the industry.
Sleep laboratories and hospital segment will be the most profitable
Hospital and sleep laboratories segment is projected to grow with $ 5,218.43 million in 2026. Increasing number of clinics, rising health care expenditure, and safety for the patient is expected to boost the segment.
North America will dominate the market
North America regional market reached the market size of $1,850.6 million in 2018 and is further expected to reach $ 3,970.7 million by 2026, at a CAGR of 10.2%. Increasing incidents of sleep apnea and rising geriatric population in this region is predicted to be the main growth attributor of the market.
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Key Market Players and Strategies
The leading players of the global therapeutic obstructive sleep apnea devices market include -
- Becton Dickinson (CareFusion Corporation)
- BMC Medical Co., Ltd
- Braebon Medical Corporation
- GE Healthcare
- Cadwell Laboratories Inc.
- Curative Medical Inc.
- Compumedics Limited
- Invacare Corporation
- ImThera Medical, Inc.
- Fisher & Paykel Healthcare
These companies are focusing on R&D, merger and acquisition, and many other strategies to sustain the growth of the market. For instance, GE Healthcare recently launched Revolution™ ACTs*, the first Computed Tomography system in India. Quick Download Top Companies Development Strategies Summary Report
The report also reviews many other important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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