HYDERABAD, India, August 9, 2016 /PRNewswire/ --
Mordor Intelligence announces the publication of their research report on the sleep apnea devices market. The report titled, "Global Sleep Apnea Devices Market Growths, Trend and Forecast (2016-2021)" discusses the current landscape and outlook of the market.
The global sleep apnea device market accounted for USD 3.75 billion in 2015 and is estimated to account for USD 4.03 billion in 2016 and USD 5.7 billion in 2021 growing at a CAGR of 7.45% during the forecast period. The report is an amalgamation of the current market scenario, its future prospects and forces driving the market as well as those that are restraining the growth of the market. It highlights the market geographically in North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Emphasis is given to the key players within the market.
Sleep apnea refers to condition of either small pauses in breathing or the presence of shallow or infrequent breathing especially during sleep. It can be either obstructive sleep apnea, central sleep apnea and mixed sleep apnea. The increase in the relative number of sleep apnea cases is mostly apprehended to rise in notable conditions like Type II diabetes, obesity, coronary artery disease, cognitive heart failure, stroke, hypertension and atrial fibrillation. Recent studies have concluded that seven out of 10 cases of Type II diabetes patients complain about the presence of sleep apnea and nearly 75% patient with hypertension also have sleep apnea. This has been a major driving factor for the sleep apnea device market.
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The report has segmented the sleep apnea device market broadly based on the diagnostic devices (PSG, Pulse Oximeters, Actigraphy devices, others), therapeutic devices (CPAP devices, BiPAP devices and others), Oxygen devices (Oxygen concentrators, portable oxygen concentrators, liquid portable oxygen), oral appliances and ASV devices. Geographically, the market is segmented in North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
The diagnostic device of the sleep apnea devices accounted for over 45% of the share owing to technical advancements in the devices and wide spread awareness among people through government and NGO initiatives. North America accounted for the major share in the market of over 35% of the market value owing to the rapid developments in the healthcare infrastructure in US. However, it is estimated that the Asia-Pacific sleep apnea device market will grow with the highest CAGR during the forecast period owing to the growing economic feasibility of the patients and the growing awareness.
Companies that dominate the sleep apnea device market are GE Healthcare, ResMed, Philips Healthcare, Carefusion, Cadwell among others.
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SOURCE Mordor Intelligence