New York, USA, July 28, 2021 (GLOBE NEWSWIRE) -- According a report published by Research Dive, the global therapeutic obstructive sleep apnea device market is expected to generate a revenue of $9,561.3 million by 2026, growing at a CAGR of 9.6% during the forecast period (2019-2026). The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, 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.
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Dynamics of the Market
Drivers: Increasing cases of sleep apnea among individuals and the rising apprehensions about it are expected to drive the growth of the global therapeutic obstructive sleep apnea device during the forecast period. Moreover, initiatives taken by the government on the treatment of various diseases and persistent technological advancements enhancements in the sleep apnea devices are further expected to bolster the growth of the market.
Restraints: Extortionate pricing of the sleep apnea devices might restrict the growth of the market. In addition, some of the sleep apnea devices consist of mask that can cause a great deal of discomfort to the patients. Hence, these factors are expected to impede the growth of the market during the forecast period.
Opportunities: Rigorous investments done by the top players of the market on technological advancements of the sleep apnea devices are expected to surge the growth of the market during the forecast period.
Therapeutic Obstructive Sleep Apnea Devices Market Growth analysis by Healthcare investment - Press Release
Segments of the Market
The report has divided different segments of the market based on type, end-use and regional outlook.
Type: Oral Appliances Sub-segment to Have the Highest Growth Rate
The oral appliances sub-segment is anticipated to grow exponentially with a CAGR of 9.7% over the forecast period. Oral devices are considerably economical and smaller in size which provides a great deal of contentment among patients. These factors are anticipated to drive the growth of the sub-segment during the forecast period.
End-use: Hospital and Sleep Laboratory Sub-segment to be Most Lucrative
The hospital and sleep laboratory sub-segment is expected to generate a revenue of $5,218.4 million during the forecast period. Rising number of clinics and elevation of healthcare expenditure among people is expected to boost the growth of the sub-segment during the forecast period.
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Regional Outlook: North America to Dominate the Market
The North America therapeutic obstructive sleep apnea device market is anticipated to generate a revenue of $3,970.7 million during the forecast period. Rising conditions of sleep apnea and the expansion of geriatric population are expected to surge the growth of the market in the region during the forecast period.
Key Players of the Market
The major players of the market include -
- Invacare Corporation
- BMC Medical Co. Ltd
- Cadwell Laboratories Inc.
- Becton Dickenson (CareFusion Corporation)
- ImThera Medical Co.
- Braebon Medical Corporation
- Curative Medical Inc.
- Compumedics Limited
- Fisher & Paykel Healthcare
These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
For instance, in September 2020, Royal Philips, a Netherland-based health and well-being company, launched a prescription sleep position therapy device called ‘Night Balance’ in order to treat people having positional obstructive sleep apnea.
Further, the report summarizes and outlines various aspects of these key players such as product portfolio, business performance, SWOT analysis, and many more. Quick Download Top Companies Development Strategies Summary Report
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Therapeutic Obstructive Sleep Apnea Devices Market Growth analysis by Healthcare investment