Selbyville, Delaware, March 16, 2022 (GLOBE NEWSWIRE) --
Global sleep apnea devices market value is projected to reach USD 12.5 billion by 2028, according to a new research report by Global Market Insights Inc. Growing prevalence of sleep diseases is likely to drive the industry expansion.
Growing technological advancements in sleep apnea devices comprising the incorporation of heart rate variability (HRV), oximetry, and peripheral arterial tonometry (PAT) signal as additional monitoring parameters are estimated to promote the market revenue. key manufacturers have innovated various technologies leading to the development of novel products with improvised performance. Similarly, the product in the market that comprises different travel-friendly features such as USB charging port, data connectivity, and integrated overnight battery is widely preferred due to their portability. The demand for such devices in emerging economies is anticipated to increase owing to the growing healthcare spending along with the adoption of various strategies by market players including new product launches, collaborations, and acquisitions.
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Sleep apnea devices market from therapeutics segment surpassed USD 4,311 million in 2021 and projected to witness 9.1% CAGR through 2028 attributed to increase in the preference for sleep apnea therapeutic devices to meet the surging need for precise treatment in home care settings, sleep laboratories, and hospitals. The preference for this product is significantly surging owing to its several advantages such as decreasing the work of breathing by reducing airway resistance, assisting patient with moderate or severe obstructive sleep apnea (OSA), etc. The technologically advanced therapeutic devices are highly recommended by healthcare providers attributable to easy-to-use, features a comprehensive selection of wireless options, connect remotely to the care team, etc. As a result, all the aforementioned variables are projected to propel the market demand.
Some major findings of the sleep apnea devices market report include:
- Growing technological advancements in sleep apnea devices is anticipated to proliferate the market statistics.
- Insurance coverage for treatment of sleep apnea and product innovation strategy adopted by key industry players is further driving the business landscape.
- Competitors are emphasizing on strategic collaborations, partnerships, and product launches to garner significant revenue share and improve their market position.
Browse key industry insights spread across 100 pages with 232 market data tables & 12 figures & charts from the report, “Sleep Apnea Devices Market Statistics By Product (Therapeutics {Airway Clearance System, Adaptive Servo-ventilation {ASV}, Positive Airway Pressure {PAP} Device, Oral Appliances, Oxygen Devices}, Diagnostics {Actigraphy Systems, Polysomnography {PSG} Device, Respiratory Polygraph, Sleep Screening Devices}), End-use (Home Care Settings & Individuals, Sleep Laboratories & Hospitals), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/sleep-apnea-devices-market-report
Sleep apnea devices market from home care settings & individuals segment is likely to reach over USD 7,257 million by 2028. The surging adoption and launch of user-friendly and cost-effective sleep apnea devices for use in home care settings are the key factors driving the business outlook. Ongoing enhancements in home healthcare facilities comprising easy accessibility to skilled care workers, transparency about the quality of care, and remote patient management are stimulating the demand for home care settings. Growing prevalence of sleep diseases and the rising need for cost-effective healthcare delivery owing to the surging healthcare expenditure present significant growth opportunities for players in the home sleep apnea devices.
Japan sleep apnea devices market exceeded USD 571 million in 2021 impelled by the increasing demand for early diagnosis of sleep apnea, the surging number of industry players entering the market, well-developed healthcare infrastructure in the country, and favourable government initiatives. Additionally, the increasing prevalence of sleep apnea coupled with the rapidly aging population in Japan is anticipated to proliferate the business expansion.
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Some of the major players operating in the sleep apnea devices industry are Koninklijke Philips N.V., Fisher & Paykel Healthcare, ResMed Inc., Invacare Corporation, Natus Medical Inc., and Teleflex Inc., among others. These players are implementing several strategic initiatives such as research and development activities to introduce novel sleep apnea devices in the market.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
