The Global Sleep Apnea Therapeutics and Diagnostics Market

The Global Sleep Apnea Therapeutics and Diagnostics Market

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The Global Sleep Apnea Therapeutics and Diagnostics Market

The Global Sleep Apnea Therapeutics and Diagnostics Market

According to Triton’s report, the global sleep apnea therapeutics and diagnostics market garnered $4356.9 million in 2020, and is set to showcase 6.90% of CAGR by 2028.

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

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Triton’s report predicts the global sleep apnea therapeutics and diagnostics market to chart a CAGR of 6.90% over the forecast period 2021-2028, and generate a revenue of $8243.2 million by the year 2028.

These days, people increasingly use electronic devices, such as smartphones and tablets, before bedtime. Studies have shown that this has a negative impact on the amount and quality of sleep. Disturbed sleep thus leads to sleep apnea among several patients. Thus, the growing usage of electronic gadgets is a major factor fueling the market growth.

With the growing awareness on sleep apnea, a large number of patients are seeking treatment for this condition. However, several patients fail to adhere to the treatment being recommended, during the diagnosis and therapy, which is obstructing the market growth.

The market for sleep apnea therapeutics and diagnostics is divided mainly into two segments, product type and industry vertical. On the basis of product type, it is bifurcated into therapeutics and diagnostics and monitoring. Therapeutics is further classified into oxygen devices, positive airway pressure (PAP) devices, adaptive servo ventilation (ASV) devices, masks and accessories, and oral appliances. Oxygen devices is further divided into oxygen concentrators, portable oxygen concentrators, and liquid portable oxygen. Positive airway pressure (PAP) devices is further divided into continuous positive airway pressure (CPAP) devices and bilevel positive airway pressure (BPAP) devices. And oral appliances is further divided into mandibular advancement devices and tongue retainers.

On the other hand, diagnostics and monitoring is further classified into oximeter, polysomnography device, actigraphy monitoring device, respiratory polygraph, sleep apnea screening device, and other diagnostics and monitoring devices. Oximeter is further divided into tabletop oximeter, fingertip oximeter, handheld oximeter, and wrist-worn oximeter. And polysomnography device (PSG) is further divided into clinical PSG device and ambulatory PSG device. Whereas, according to industry vertical, the market is divided into home care settings and hospitals & sleep laboratories.
The sleep apnea therapeutics and diagnostics market in North America is the largest globally, holding the highest share. It is expected to continue its reign until the end of the forecast period.

Developed nations, such as the US and Canada, are present in this region. These nations boast of a state-of-the-art healthcare infrastructure, and are always at the forefront when it comes to the adoption of technology.

Further, there is a high elderly population in these countries, which is increasing the demand for sleep apnea diagnosis and treatment. Also, chronic conditions, such as obesity, diabetes, and CVD, among others, are highly prevalent in the people living here. All these factors are aiding the development of the North American market.

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

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Question & Answer: Sleep Apnea Therapeutics and Diagnostics Market

Question 1: What is a major factor fueling the global sleep apnea therapeutics and diagnostics market growth?

Answer: These days, people increasingly use electronic devices, such as smartphones and tablets, before bedtime. Studies have shown that this has a negative impact on the amount and quality of sleep. Disturbed sleep thus leads to sleep apnea among several patients. Thus, the growing usage of electronic gadgets is a major factor fueling the market growth.

Question 2: What factor is obstructing the sleep apnea therapeutics and diagnostics market growth?

Answer: With the growing awareness on sleep apnea, a large number of patients are seeking treatment for this condition. However, several patients fail to adhere to the treatment being recommended, during the diagnosis and therapy, which is obstructing the market growth.

Question 3: How is the North America region influencing the growth of the sleep apnea therapeutics and diagnostics market?

Answer: The sleep apnea therapeutics and diagnostics market in North America is the largest globally, holding the highest share. It is expected to continue its reign until the end of the forecast period. Developed nations, such as the US and Canada, are present in this region. These nations boast of a state-of-the-art healthcare infrastructure, and are always at the forefront when it comes to the adoption of technology.

Further, there is a high elderly population in these countries, which is increasing the demand for sleep apnea diagnosis and treatment. Also, chronic conditions, such as obesity, diabetes, and CVD, among others, are highly prevalent in the people living here. All these factors are aiding the development of the North American market.

Question 4: Which are the established players in the sleep apnea therapeutics and diagnostics market?

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

Related Report:

Global Pharmaceutical Filtration Market

The global pharmaceutical filtration market is set to exhibit growth in the forecasting years from 2021 to 2028. It is expected to grow at a CAGR of 8.56% in terms of revenue, generating $39947.0 million by 2028.

The growing production of biologics, APIs, large molecules, generics, along with the technological advancements in pharmaceutical filters, rising prevalence of chronic diseases, increased spending on R&D owing to the surge in government healthcare expenditure, and the increase in the number of pharmaceutical & biopharmaceutical companies across the world, are the key factors that fuel the growth of the pharmaceutical filtration market.

Moreover, an increase in the adoption of innovative treatment therapies like therapeutic proteins, monoclonal antibodies, and vaccines in the pharmaceutical industry, along with the strong pipeline of biologic products, and a rise in the need for filters in the pharmaceutical & biopharmaceutical industry, are also contributing to the market development process. However, low incomes and the lack of proper medical attention, as well as large capital requirements in different countries, are anticipated to hinder this growth.

Triton Market Research
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We are a leading market research company with offices in the UK, providing the best online market research and data search reports to our clients.

This release was published on openPR.

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