Global Sleep Apnea Therapeutics and Diagnostics Market to Exhibit 6.90% CAGR Through 2028

November 22, 2021

As cited by the research report titled ‘Global Sleep Apnea Therapeutics and Diagnostics Market 2021-2028’, available with MarketStudyReport, global sleep apnea therapeutics and diagnostics market is projected to expand significantly, recording 6.9% CAGR over 2021 – 2028.

Growing awareness related to the negative impacts of untreated sleep apnea, increasing geriatric population, and rising number of obesity cases are the major factors driving global sleep apnea therapeutics and diagnostics market growth.

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In addition, increasing usage of gadgets at night-time, which lead to rising frequency of sleep disturbances, is also contributing to the market growth. Rapid advancements in technology as well as the rising adoption of at-home monitoring devices are generating lucrative opportunities for the market development.

On the downside, high costs of sleep apnea devices, lack of adherence regarding the availability of the treatment options, and issues with reimbursement policies are likely to hinder the market progression over the estimated timeframe.

Based on product type, the industry is segmented into therapeutics and diagnostics and monitoring. Considering industry verticals, the marketplace is divided into hospitals & sleep laboratories and home care settings.

The geographical analysis of the sleep apnea therapeutics and diagnostics industry is studied for the major regions like North America, Asia Pacific, Europe, Latin America, Middle East & Africa and the rest of the world.

Experts cite that Asia Pacific is poised to grab a significant market share owing to increased adoption of advanced technologies and improving healthcare infrastructure across the emerging economies of the region.

It is also worth noting here that Asia pacific is known to be a center for cheap raw materials, mainly for medical device manufacturing firms, including sleep apnea devices. Apart from this, rising healthcare expenditure as well as rapid developments in infrastructure are positively swaying the industry dynamics across the region.

Prominent players influencing the global sleep apnea therapeutics and diagnostics industry dynamics are Medtronic plc, Koninklijke Philips N.V., Itamar Medical Ltd., Invacare Corporation, GE Healthcare, Fisher & Paykel Healthcare Corporation Limited, DeVilbiss Healthcare LLC, Cadwell Industries Inc., Braebon Medical Corporation, BMC Medical Co. Ltd., Vyaire Medical Inc., Teleflex Inc., SOMNOmedics GmbH, Smiths Medical Inc., ResMed Inc., Signifier Medical Technologies Ltd., and Nihon Kohden Corporation.

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