Find Out More About the Future of the Global Leading Companies in Sleep Apnea Devices Market


Posted April 27, 2022 by mmvaidya

ResMed (US), Koninklijke Philips N.V. (Netherlands) and Fisher & Paykel Healthcare (New Zealand) are leading players in Sleep Apnea Devices Market
 
Major Market Growth Boosting Factors:

Market growth is mainly driven by factors such as the large pool of undiagnosed sleep apnea patients, growing awareness about the ill effects of untreated sleep apnea, growing usage of oral appliances, and an increasing number of companies venturing into the sleep apnea market. In contrast, the high cost of CPAP machines, complex referral pathways, long waiting periods, and product recalls are expected to limit market growth to a certain extent during the forecast period.

Global market Leaders:

The global sleep apnea devices market is highly consolidated. The prominent players operating in this market include ResMed (US), Koninklijke Philips N.V. (Netherlands) and Fisher & Paykel Healthcare (New Zealand).

Overview of This Study:

This study involved four major activities in estimating the current size of the sleep apnea devices market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=719

More About the Leading Players:

ResMed (US) is one of the leading players in the sleep apnea devices market. The company operates its Total Sleep and Respiratory Care segment through two business segments, namely Devices and Masks and other. The company has a widespread presence globally in over North America, Latin America, Asia Pacific, and other markets. The company has a diverse product portfolio for sleep apnea disorders and offers various devices and accessories.

Koninklijke Philips N.V. (Netherlands) is one of the leading players in the sleep apnea devices market. The leading position can be attributed to its diversified product portfolio and wide geographical presence in North America, Europe, the Asia Pacific, and Africa.

Fisher & Paykel Healthcare (New Zealand) held the third position in the sleep apnea devices market in 2020. The company has geographical presence in the New Zealand, Australia, the US, Germany, France, Sweden, Italy, Hong Kong, India, and Mexico.

COVID-19 impact on the sleep apnea devices market:

The growth of the sleep apnea devices market has massively increased due to the sudden outbreak of the COVID-19 pandemic. In the first quarter of 2020, companies faced certain operational and logistic challenges due to the imposition of nationwide lockdowns. However, eventually, the massive influx of COVID-19 patients and the adverse impact of the virus on sleep apnea patients led to a rise in the demand for and production of sleep apnea devices, such as PAP devices, masks, and sleep ventilators.

Lockdowns in nations across the globe increased the adoption of home sleep apnea tests (HSATs) over PSG devices. Telemedicine and teleconsultations also gained popularity during the pandemic, which further supported the growth of the market. However, with the launch of various COVID-19 vaccines, it can be expected that the incidence of COVID-19 will decline gradually, and the market will continue to grow at a normal pace in the coming five years.

RESTRAINT: The high cost of CPAP machines, complex referral pathways, long waiting periods, and product recalls

The high expenses of the CPAP machines are burden to the patients of sleep apnea, the expenses of these machines are sparsely covered by Medicare in the US, while other countries don’t cover any cost of CPAP. The medical visits to multiple locations, the inconvenient and high cost of diagnosis, and therapy creates a huge hurdle for patients.

OPPORTUNITY: Growing demand for home sleep apnea tests (HSATs), and increasing focus on telemedicine, mHealth (mobile health), and artificial intelligence

People are opting more for the home sleep apnea tests (HSATs) due to their affordability and comfort of sleep apnea management at home. The telemedicine has witnessed a surge in the demand maid the pandemic. The incoming advanced technologies in the domain of sleep apnea devices such as Artificial Intelligence (AI) are also creating more opportunities for the market.

Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=719
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags sleep apnea devices , sleep apnea devices market
Last Updated April 27, 2022