Major Objectives of the Study:
# To define, describe, and forecast the global Sleep Apnea Devices Market based on the type, end user and region.
# To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, opportunities, and challenges).
# To strategically analyse micromarkets with respect to individual growth trends, prospects, and contributions to the overall sleep apnea devices market.
# To analyse opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
# To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World.
# To strategically profile the key players and comprehensively analyse their product portfolios, market positions, and core competencies.
# To track and analyse competitive developments such as acquisitions, product launches, expansions, agreements, partnerships, and R&D activities in the sleep apnea devices market.
Major Growth Driving Factors:
Market growth is mainly driven by factors such as the large pool of undiagnosed sleep apnea patients, growing awareness about the ill effects of untreated sleep apnea, growing usage of oral appliances, and an increasing number of companies venturing into the sleep apnea market.
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Emerging markets in Asian countries are expected to offer strong growth opportunities for players in the market. In contrast, the high cost of CPAP machines, complex referral pathways, long waiting periods, and product recalls may restrict market growth to a certain extent. The global market is segmented based on type, end user and region.
Expected Revenue Growth:
The sleep apnea devices market is projected to reach USD 9.9 billion by 2026 from USD 7.1 billion in 2021, at a CAGR of 6.9% during the forecast period.
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 market have been identified through extensive secondary research
# The revenues generated from the sleep apnea devices business of leading players have been determined through primary and secondary research
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
Data Triangulation:
After arriving at the overall market size from the market size estimation process, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Recent Developments:
# In June 2021, Oventus Medical signed a partnership agreement with Aeroflow Healthcare to provide Oventus’ obstructive sleep apnea (OSA) treatment solutions, including O2Vent Optima, directly to consumers via sleep clinics in the US.
# In February 2021, Oventus Medical launched 02Vent Optima, a customizable oral appliance therapy device that offers an alternative to CPAP therapy in the US through GoPAPfree.
# In November 2020, Panthera Dental collaborated with Dentsply Sirona.
# In December 2019, Fisher & Paykel Healthcare signed a USD-1.5-million partnership agreement with Counties Manukau Health (CM Health) to provide funding for clinical research at Middlemore Hospital.
# In March 2019, ResMed acquired HB Healthcare, a home medical equipment provider, which offers sleep and respiratory care devices.
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End Users:
Sleep laboratories & hospitals account for the largest share of the sleep apnea devices market. The home care settings/individuals’ segment is expected to grow at the fastest pace during the forecast period.
Based on end user, the market is segmented into sleep laboratories & hospitals and home care settings/individuals. The sleep laboratories & hospitals segment accounted for the largest share of in themarket in 2020. However, the home care settings/individuals’ segment is estimated to grow at the highest CAGR from 2021 to 2026, owing to the increasing preference for home sleep testing by both patients and insurance companies, coupled with the favourable reimbursement scenario for home sleep testing.
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