This report analyzes and studies the major market drivers, restraints/challenges, and opportunities. The global sleep apnea devices market is segmented on the basis of product, end user, and region.
The Sleep Apnea Devices Market is expected to reach USD 6.70 Billion by 2021 from USD 4.59 Billion in 2016, growing at a CAGR of 7.8%.
On the basis of product, the market is segmented into therapeutic devices and diagnostic devices. In 2016, the therapeutic devices segment is expected to command the largest share of the market. This segment is also expected to register the highest CAGR from 2016 to 2021. The large share of this segment can be attributed to the wide use of these compact devices in the treatment of sleep apnea.
On the basis of therapeutic devices, the market is segmented into PAP devices, facial interfaces, oxygen concentrators, adaptive servo-ventilation instruments, airway clearance systems, accessories, and oral appliances. The PAP devices segment is estimated to account for the largest share of the global sleep apnea therapeutic devices market in 2016. Technological advancements have made these devices compact, comfortable, and easy to use to ensure better patient compliance; this is expected to ensure steady growth for the PAP devices market in the coming years. The oral appliances segment is projected to register the highest CAGR in the forecast period.
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On the basis of diagnostic devices, the market is segmented into PSG devices, respiratory polygraphs, single-channel screening devices, and actigraphy systems. The PSG devices segment is estimated to account for the largest share of the global sleep apnea diagnostic devices market in 2016. The single-channel screening devices segment is projected to register the highest CAGR during the forecast period. The high growth rate of single-channel screening devices can be attributed to its noninvasive and painless cardiorespiratory monitors that are used to assess the oxygen saturation level of arterial blood.
Based on end user, the sleep apnea devices market is segmented into home care settings and sleep laboratories & hospitals. The home care settings segment is projected to register the highest CAGR during the forecast period. This growth can be attributed to the preference for home care in sleep apnea diagnosed patients.
On the basis of region, the global market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, North America is estimated to account for the largest share of the global sleep apnea devices market, followed by Europe. Europe is projected to register the highest CAGR in the forecast period. Factors such as the new legislation of PAP devices, growing funding and grants for sleep apnea devices and treatment, introduction of new devices in the European market, and focus of industry players are likely to boost market growth in the region.
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