Sleep Apnea Devices Market to Grow at a Healthy Rate in Near Future

 The study involved four major activities in estimating the current market size for sleep apnea devices. Exhaustive secondary research was done to collect information on the market and its different sub-segments.

The market for sleep apnea devices is expected to grow from USD 4.5 billion in 2019 to USD 7.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 10.7% during the forecast period.

The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter market breakdown and data triangulation was used to estimate the market size of segments and sub-segments.

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Recent Developments:

# In 2019, ResMed (US) launched AirFit N30i, its first top-of-head-connected nasal CPAP mask, across the US with a newly designed nasal cradle cushion that sits just under the wearer’s nose.

# In 2016, Koninklijke Philips (Netherlands) launched its Dream Family solution which comprises of a DreamWear mask, DreamStation PAP device, and DreamMapper patient engagement app.

Report Objectives:

# To define, describe, and measure the global market by type, end user, and region.
# To provide detailed information about major factors influencing market growth (such as drivers, restraints, growth opportunities, and challenges).
# To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the global market.
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.
# To forecast the size of the market in North America, Europe, Asia Pacific (APAC), and the Rest of the world (RoW).
# To strategically analyze the market structure and profile key players and their core competencies3 in the global market.
# To track and analyze competitive developments such as service launches, expansions, acquisitions, partnerships & collaborations; in the market.

Key Questions Addressed by the Report:

# Which type segment will dominate the sleep apnea devices market in the future?
# Emerging countries have immense opportunities for the growth and adoption of sleep apnea devices, therefore will this scenario continue in the next five years?
# Where will all the advancements in technology offered by various companies take the industry in the mid to long term?
# What are the upcoming alternative therapies and devices related to the same in the sleep apnea devices market?

Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the sleep apnea devices market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and markets have been identified through extensive secondary research.

# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.

# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

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North America is expected to dominate the sleep apnea devices market during the forecast period

On the basis of region, North America accounted for the largest share of the global sleep apnea devices market in 2018, whereas, the Asia Pacific region registered the highest CAGR during the forecast period. North American accounted for the largest share owing to factors like an increase in the number of patients diagnosed with sleep apnea in the region, growth in awareness initiatives being taken by various government and non-government organizations, availability of adequate funding for research and development, and substantial growth in the usage of oral appliances in the region.

Major players operating in the sleep apnea devices market include ResMed (US), Koninklijke Philips (Netherlands), Fisher & Paykel Healthcare (New Zealand), SomnoMed (US), Oventus Medical (Australia), Compumedics (Australia), Löwenstein Medical (Germany), Drive DeVilbiss Healthcare (US), BMC Medical (China), Braebon Medical (Canada), and Panthera Dental (Canada).