Sleep Apnea Devices Market Projected to Generate Revenue Worth $9.9 billion by 2026


Posted July 19, 2022 by vmack2187

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.
 
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.

Projected Revenue Surge:

The global Sleep Apnea Devices Market is projected to reach USD 9.9 billion by 2026 from USD 7.1 billion in 2021, at a CAGR of 6.9% during the forecast period.

Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the sleep apnea devices market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and market have been identified through extensive secondary research
# The revenues generated from the sleep apnea devices business of leading players have been determined through primary and secondary research
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources

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Data Triangulation:

After arriving at the overall market size from the market size estimation process, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

End Uders:

Sleep laboratories & hospitals account for the largest share of the Sleep Apnea Devices Market in 2020. The home care settings/individuals’ segment is expected to grow at the fastest rate during the forecast period.

Based on end users, the sleep apnea devices market is segmented into sleep laboratories & hospitals and home care settings/individuals. The sleep laboratories & hospitals segment accounted for the largest share of the sleep apnea devices market in 2020. However, the home care settings/individuals’ segment is estimated to grow at the highest CAGR during the forecast period. This is attributed to the increasing preference for home sleep testing by both patients and insurance companies, coupled with the favourable reimbursement scenario for home sleep testing.

Geographical Growth Dynamics:

North America was the largest regional market for the Sleep Apnea Devices Market in 2020

The Sleep Apnea Devices Market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and Rest of the world (Latin America, and the Middle East & Africa). North America was the largest regional market for Sleep Apnea Devices Market in 2020. The large share of the North American market can be attributed to the increasing prevalence of the sleep apnea, growing awareness, wide usage of oral appliances for sleep apnea and of the leading players, such as ResMed, and Inspire Medical Systems, Inc., in the region.

However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. Emerging APAC economies such as Japan, Australia and China are expected to see significant growth due the increasing prevalence of sleep apnea, the presence of a large undiagnosed patient pool in countries such as India, strategic agreements between global market leaders and regional players, and initiatives undertaken by governments and other private organizations to raise awareness on sleep disorders in several Asia Pacific countries are driving the market for sleep apnea devices in the region.

The global Sleep Apnea Devices Market is consolidated. The prominent players operating in this market include ResMed (US), Koninklijke Philips N.V. (Netherlands), and Fisher & Paykel Healthcare (New Zealand).

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Contact Email [email protected]
Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags sleep apnea , sleep apnea devices , sleep apnea devices market
Last Updated July 19, 2022