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The Global Sleep Apnea Therapeutics and Diagnostics Market to Amount to $8243.2 Million by 2028

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The Global Sleep Apnea Therapeutics and Diagnostics Market to Amount to $8243.2 Million by 2028

August 09
13:48 2021
The Global Sleep Apnea Therapeutics and Diagnostics Market to Amount to $8243.2 Million by 2028
The Global Sleep Apnea Therapeutics and Diagnostics Market
As per Triton’s research report, the global sleep apnea therapeutics and diagnostics market, which generated $4356.9 million in 2020, is likely to chart 6.90% of CAGR by the year 2028.

A recent study by Triton Market Research titled ‘Global Sleep Apnea Therapeutics and Diagnostics Market,’ covers the Global Analysis and Forecasts by Industry Verticals (Hospitals & Sleep Laboratories, Home Care Settings), by Product Type (Diagnostics and Monitoring [Polysomnography Device (PSG) {Clinical PSG Device, Ambulatory PSG Device}, Oximeter {Tabletop Oximeter, Fingertip Oximeter, Handheld Oximeter, Wrist-Worn Oximeter}, Actigraphy Monitoring Device, Respiratory Polygraph, Sleep Apnea Screening Device, Other Diagnostics and Monitoring Devices]; Therapeutics [Positive Airway Pressure (PAP) Devices {Continuous Positive Airway Pressure (CPAP) Devices, Bilevel Positive Airway Pressure (BPAP) Devices}, Oxygen Devices {Oxygen Concentrators, Portable Oxygen Concentrators, Liquid Portable Oxygen}, Masks and Accessories, Oral Appliances {Mandibular Advancement Devices, Tongue Retainers}, Adaptive Servo Ventilation (ASV) Devices]), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).

 

Request Free Sample of the Global Sleep Apnea Therapeutics and Diagnostics Market Report @ https://www.tritonmarketresearch.com/reports/sleep-apnea-therapeutics-and-diagnostics-market#request-free-sample 

 

The report estimates the global sleep apnea therapeutics and diagnostics market to exhibit a CAGR of 6.90% during the forecasting years 2021-2028, garnering a revenue worth $8243.2 million by 2028. 

Sleep apnea is widely prevalent among the elderly. It remains largely underdiagnosed due to factors such as lack of awareness. With the increasing life expectancy, the elderly population is also expected to rise. People in this age group are highly vulnerable to various health conditions, including sleep apnea. This is expected to foster the growth of the studied market during the forecast period.

However, the unfavorable reimbursement landscape has severely limited the adoption of sleep apnea devices. This is, in turn, restricting the growth of the sleep apnea therapeutics and diagnostics market.

The market for sleep apnea therapeutics and diagnostics is mainly divided into industry verticals and product type. The first main segment, industry verticals, is bifurcated into hospitals & sleep laboratories and home care settings. The second main segment, product type, is sub-segmented into diagnostics and monitoring and therapeutics. Diagnostics and monitoring is further segmented into polysomnography device (PSG), oximeter, actigraphy monitoring device, respiratory polygraph, sleep apnea screening device, and other diagnostics and monitoring devices. Of these, polysomnography device (PSG) is further categorized into clinical PSG device and ambulatory PSG device. And oximeter is further categorized into tabletop oximeter, fingertip oximeter, handheld oximeter, and wrist-worn oximeter.

On the other hand, therapeutics is further segmented into positive airway pressure (PAP) devices, oxygen devices, masks and accessories, oral appliances, and adaptive servo ventilation (ASV) devices. Of these, positive airway pressure (PAP) devices are further classified into continuous positive airway pressure (CPAP) devices and bilevel positive airway pressure (BPAP) devices. Oxygen devices are further classified into oxygen concentrators, portable oxygen concentrators, and liquid portable oxygen. And lastly, oral appliances are further classified into mandibular advancement devices and tongue retainers. 

North America is the largest market for sleep apnea therapeutics and diagnostics in the world, and holds the highest share. It is expected to continue its leading position in the coming years. The United States and Canada are the most matured markets for sleep apnea therapeutics and diagnostics. 

According to the Canadian Community Health Survey, more than one in four adults in the country reported to be affected by sleep apnea and showed symptoms of developing OSA (obstructive sleep apnea). The increasing prevalence of sleep apnea and the rising incidence of co-morbidities are some of the factors driving the growth of the market in this region.

Devilbiss Healthcare LLC, Cadwell Industries Inc, Teleflex Incorporated, Invacare Corporation, Koninklijke Philips NV, Signifier Medical Technologies Limited, Fisher & Paykel Healthcare Corporation Limited, Medtronic PLC, GE Healthcare (General Electric Company), Somnomedics GmbH, Nihon Kohden Corporation, Itamar Medical Ltd, Vyaire Medical Inc, Resmed Inc, Braebon Medical Corporation, Smiths Medical Inc, and BMC Medical Co Ltd are the well-known players in the sleep apnea therapeutics and diagnostics market.

 

Purchase this Report @ https://www.tritonmarketresearch.com/reports/sleep-apnea-therapeutics-and-diagnostics-market#purchase-option  

 

Question & Answer: Sleep Apnea Therapeutics and Diagnostics Market

Question 1: What factor is expected to foster the growth of the sleep apnea therapeutics and diagnostics market during the forecast period?

Answer: Sleep apnea is widely prevalent among the elderly. It remains largely underdiagnosed due to factors such as lack of awareness. With the increasing life expectancy, the elderly population is also expected to rise. People in this age group are highly vulnerable to various health conditions, including sleep apnea. This is expected to foster the growth of the studied market during the forecast period.

Question 2: What is restricting the growth of the sleep apnea therapeutics and diagnostics market?

Answer: The unfavorable reimbursement landscape has severely limited the adoption of sleep apnea devices. This is, in turn, restricting the growth of the sleep apnea therapeutics and diagnostics market.

Question 3: Which region is expected to dominate the global sleep apnea therapeutics and diagnostics market?

Answer: North America is the largest market for sleep apnea therapeutics and diagnostics in the world, and holds the highest share. It is expected to continue its leading position in the coming years. The United States and Canada are the most matured markets for sleep apnea therapeutics and diagnostics. 

According to the Canadian Community Health Survey, more than one in four adults in the country reported to be affected by sleep apnea and showed symptoms of developing OSA (obstructive sleep apnea). The increasing prevalence of sleep apnea and the rising incidence of co-morbidities are some of the factors driving the growth of the market in this region.

Question 4: Which are the well-known players in the sleep apnea therapeutics and diagnostics market?

Answer: Devilbiss Healthcare LLC, Cadwell Industries Inc, Teleflex Incorporated, Invacare Corporation, Koninklijke Philips NV, Signifier Medical Technologies Limited, Fisher & Paykel Healthcare Corporation Limited, Medtronic PLC, GE Healthcare (General Electric Company), Somnomedics GmbH, Nihon Kohden Corporation, Itamar Medical Ltd, Vyaire Medical Inc, Resmed Inc, Braebon Medical Corporation, Smiths Medical Inc, and BMC Medical Co Ltd are the well-known players in the sleep apnea therapeutics and diagnostics market.

 

Related Report:

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The global DNA sequencing market is set to grow in the forecasting years from 2021 to 2028, generating $35684.5 million by 2028, while charting a CAGR of 17.21% by revenue. 

The market for DNA sequencing is primarily driven by the increase in technological developments, rising applications of clinical diagnosis & drug discovery, and increasing investments in research & development. The rapid developments in sequencing technology have enabled the identification of several DNA variations. These developments also help determine variants associated with enhanced risk for disease. 

With the widespread application of next-gen sequencing (NGS), a broad range of genes can be tested on a single diagnostic platform at the same time. This expands the utility of DNA sequencing in clinical diagnosis applications. Moreover, DNA sequencing also has applications in the diagnosis of multiple health conditions, such as cancer, hematological disorders, vision & hearing impairment, psychiatric & neurological disorders, and cardiovascular diseases, to name a few.

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