Sleep Apnea Devices Market worth 6.70 Billion USD by 2021

The report "Sleep Apnea Devices Market by Product, Therapeutic (CPAP, APAP, BPAP, Masks, Oral Appliances (Mandibular Advancement Device), Diagnostic (PSG, Pulse Oximeter), End User (Home Care Settings, Hospitals) - Analysis & Global Forecasts to 2021", This report studies the global sleep apnea devices market for the forecast period of 2016 to 2021. This 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%.

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Prominent Players:

The prominent players in the global sleep apnea devices market include ResMed, Inc. (U.S.), Philips Healthcare (Netherlands), and Fisher & Paykel Healthcare Ltd. (New Zealand). These companies are dominant in the market mainly due to their well-established presence in the field of sleep apnea devices, presence in over 50 countries, high R&D investments, and strong sales and distribution force.

Other players include SomnoMed Ltd. (Australia), Compumedics Limited (Australia), Weinmann Medical Devices GmbH (Germany), Whole You, Inc. (U.S.), BMC Medical Co., Ltd. (China) and DeVilbiss Healthcare (U.S.), and Braebon Medical Corporation (Canada).

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Geographical Analysis:

In 2016, North America is estimated to account for the largest share in the forecast period of the market, followed by Europe and Asia-Pacific. The European regional segment is projected to register the highest CAGR during the forecast period.

This can be attributed to 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.

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Market Dynamics:

Factors such as growing awareness regarding the ill effects of sleep apnea, growing usage of oral appliances for sleep apnea treatment, and the large pool of undiagnosed and untreated sleep apnea patients are driving the growth of the market. Additionally, technological advancements in sleep apnea devices is also supporting the growth of the market.

On the other hand, lack of patient compliance and alternative treatments for sleep apnea are factors restricting market growth to a certain extent. Emerging markets in developing countries and increasing venture capital (VC) funding are expected to provide immense opportunities for players in the market.

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