According to the report analysis, ‘Worldwide Sleep Apnea Device Market Trends and Drivers, Restraints, and Opportunities 2017-2023’ states that there are several key players which are recently functioning in this market more effectively for leading the handsome amount of share around the globe with the adoption of effective strategies of doing work and investments in the development of technology includes ResMed, Philips Healthcare, Becton Dickinson and Company (CareFusion), and Fisher and Paykel. Other leading players in the market include SomnoMed, Compumedics, Cadwell Laboratories, Imthera Medical, Itamar Medical, and BMC Medical. Moreover, in the present trend, the CPAP devices and consumables are controlling the Global Sleep Apnea Devices market, but a lot of new players are objecting on developing next-generation diagnostic and therapeutic devices to attain the future business prospects. The market is controlled by ResMed, Fisher & Paykel, and Philips Healthcare. Small companies are investing importantly in emerging technologically advanced products to acquire their market share.
The sleep apnea is a situation in which a person discontinues breathing for few seconds at night either because of the airway blockage or due to the signal from the brain is not received. In a severe condition a human being stops breathing more than the 10 times in an hour. Moreover, the sleep apnea can disturb anyone, even children.The American Journal of Epidemiology specified that in 2013, approximately 26% of the adults aged 30-70 years had some form of sleep apnea, whereby 16% of them had slight sleep apnea and 10% had unadorned sleep apnea. Additionally, the key players of this market are playing an important role by doing effective developments in the techniques of doing treatment with the significant advancement in the technology which further proved to beneficial more effectively for leading the fastest market during the forecasted period in the coming years.
The Global Sleep Apnea Device Market is projected to observe an effective CAGR of 7.6% during the forecast period of 2017-2023. Whereas, the global market of sleep apnea is segmented into three major aspects such as namely device types, end-users, and regions. On the basis geography, the North America controlled the Global Sleep Apnea Devices Market followed by Europe. These two regions cooperatively capture more than 60% of the total market. This was because of the obtain ability of technologically advanced sleep laboratories and the accumulative consciousness of sleep apnea in these regions. Moreover, great obesity rate and good reimbursement amenities are quickening the growth of the market. Asia Pacific and RoW are predictable to have the maximum growth rates during the forecast period. In addition, low consciousness of the condition and shortage of advanced technology goods challenge the Global Sleep Apnea Devices Market growth.
Although, the substitute management for sleep apnea, absence of patient compliance, and rigorous regulatory authorization are some of the factors hindering the market. The market in India, Brazil, and China are also predictable to increase at an augmented pace during the forecast period. Therefore, in the near future, it is expected that the market of sleep apnea will increase across the globe more significantly over the recent years.
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Ankur Gupta, Head Marketing & Communications