Dublin, April 01, 2024 (GLOBE NEWSWIRE) -- The "Sleep Apnea Devices - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2021 - 2029" report has been added to ResearchAndMarkets.com's offering.
The Sleep Apnea Devices Market is anticipated to undergo a significant growth trajectory, with projections estimating the market size to expand from USD 8.20 billion in 2024 to USD 11.68 billion by 2029. This growth is forecasted at a compound annual growth rate of 7.33% during the analysis period.
Advancements and Demographic Trends Fueling Growth
Market growth is propelled by advancements in medical devices, an aging population susceptible to sleep disorders, and rising awareness of sleep apnea in developing nations. A growing geriatric population, alongside a higher prevalence of obesity and hypertension, are also significant contributors to the expansion of the market.
Technological strides in diagnostic devices, particularly pulse oximeters, are expected to register the highest growth within the market segment. These devices are essential for the noninvasive, continuous monitoring of hemoglobin oxygen saturation in patients and are key to diagnosing sleep apnea conditions effectively.
North America to Maintain Dominance in Sleep Apnea Devices Market
The North American region is poised to maintain its dominant position in the market throughout the forecast period. This dominance is supported by an increasing burden of sleep apnea linked to obesity and other comorbid conditions, as well as a robust healthcare infrastructure capable of supporting technologically advanced treatments.
Highly Competitive Market Landscape
The competitive landscape of the sleep apnea devices market is robust, with major players such as Resmed, Fisher & Paykel Healthcare Limited, and Invacare Corporation holding significant market shares. A continuous stream of product innovation and the introduction of new players into the market underscore the competitive and dynamic nature of the industry. The growth trajectory of the Sleep Apnea Devices Market is a reflection of the increasing demand for sleep apnea devices against the backdrop of prevalent health conditions and the proliferation of technologies designed to meet these medical needs. With a broad range of factors contributing to market growth, the industry is set to witness a substantial advancement in the forthcoming years.
A selection of companies mentioned in this report includes, but is not limited to:
- Fisher & Paykel Healthcare Limited
- Koninklijke Philips NV
- Invacare Corporation
- Natus Medical Incorporated
- Resmed
- Cadwell Laboratories Inc.
- Vyaire Medical Inc.
- GE Healthcare
- Nihon Kohden Corporation
- Teleflex Incorporated
- Somnomed
- Oventus Medical
For more information about this report visit https://www.researchandmarkets.com/r/y2tozx
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