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Sleep Apnea Devices Market size worth USD 8.8 billion by 2023

Growing co-morbid condition prevalence including hypertension, type II diabetes, cardiovascular diseases, and obesity should be the major driving force for global sleep apnea devices market growth. Technology evolution, in terms of patient safety and comfort, government initiatives aiming at curbing the healthcare expenditure associated with these disorders will also stimulate industry development.

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Sleep Apnea Devices Market size worth USD 8.8 billion by 2023

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  1. Sleep Apnea Devices Market size worth USD 8.8 billion by 2023, with 7.7% CAGR from 2016 to 2023: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024

  2. Key Insights from Sleep Apnea Devices Market: • Global sleep apnea devices market size is anticipated to see 7.7% CAGR by 2023, at USD 8.8 billion industry revenue valuation. • U.S. sleep apnea devices market size led North America, at over 88% of 2015 regional revenue. Favorable regulatory initiatives to control these disorders, introduction of portable and technologically advanced products, and rising incidence rates of co-morbidities will drive development.  • Diagnostics segment dominated global sleep apnea devices market share in 2015, generating revenue of more than USD 2.4 billion.  • Europe sleep apnea devices market share is slated to showcase stable growth, with UK and Germany bringing in over 44% of 2015 revenue.

  3. Continued... • The sleep apnea devices industry is dominated by giant players globally, making it difficult for the new players to enter and sustain in the market.  • India sleep apnea devices market is the fastest growing industry in APAC, set to witness 11.3% CAGR during the forecast period, followed by China. However, Japan grabs the largest share in terms of revenue exceeding USD 750 million by 2023. • ResMed and Philips Respironics dominate global sleep apnea devices market share, with Carefusion, Cadwell, Braebon and Compumedics being other prominent participants.

  4. U.S. Sleep Apnea Therapeutic Devices Market Size, By Product, 2012 - 2023 (USD Million)

  5. Browse Full Market Research Report On Sleep Apnea Market @ https://www.gminsights.com/industry-analysis/sleep-apnea-devices-market Request for a Sample of this Research Report @ https://www.gminsights.com/request-sample/detail/489

  6. 360° Analysis • Products Analysis • Global sleep apnea devices market was dominated by diagnostics segment, valued at USD 2.5 billion in 2015, owing to rising awareness for early diagnosis of sleep apnea. • Regional Analysis • North America sleep apnea devices market was USD 1.9 billion in 2015 remains the largest regional industry, the prime reason being government as well as trade association intervention to address untreated sleep apnea, and increased the awareness levels in the region. Favorable Medicare reimbursement policies pertaining to therapeutic devices such as CPAP (Continuous Positive Airway Pressure) device is also expected to propel growth. • Competitive Market Share • Global sleep apnea devices market share is oligopolistic in nature with ResMed and Philips Respironics together accounting for 65% of the market. The market share can be attributed to the rigorous research and development investments aimed at new product development. The market comprises several small players as well. Product innovation & commercialization was a key growth strategy pursued by industry participants.

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