The North America Sleep Apnea Devices market is expected to witness a CAGR of 7.7% to reach $5.52 billion by 2024
Growing Awareness about the ill effects of untreated sleep disorders is driving the North America Sleep Apnea Market
Bangalore, India, May 15, 2018:
With its recently published study “North America Sleep Apnea Devices Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2024”, Infoholic Research forecasts that the North America market for Sleep Apnea Devices will continue to grow, owing to the Increasing usage of oral appliances and growing awareness about ill-effects of untreated sleep apnea in developed countries. Sleep apnea is a condition in which a person stops breathing for few seconds during the night either due to airway blockage or no signal from the brain. In severe condition, a person stops breathing more than 10 times an hour. As stated in the American Journal of Epidemiology, in 2013, around 26% of adults aged 30–70 had sleep apnea disorder, among which 16% of them had mild sleep apnea and 10% had severe sleep apnea.
Among the diagnostic devices, the current gold standard for OSA is polysomnography. But the market adoption rate is high for actigraphy devices, and hence is expected to have the highest growth rate during the forecast period. Among the therapeutic devices, the PAP machines occupies significant share. Along with this, the market for their consumables is also high. But nasal obstruction, discomfort of the PAP masks, and nose & mouth dryness are some of the unmet needs of sleep apnea. This trend is expected to continue during the forecast period 2018-2024, fueling the North America Sleep Apnea Devices market growth at a CAGR of 7.7% to reach $5.52 billion by 2024.
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The US dominates the North America Sleep Apnea Devices market, followed by Canada and Mexico due to the presence of large number of sleep apnea diagnostics and therapeutic device manufacturers. The dominance of the US will continue during the forecast period, while Canada is also expected to witness a steady growth rate, thereby boosting the North America Sleep Apnea Devices market.
The hospitals segment contributed majorly towards the North America Sleep Apnea Devices market. The next significant share for the market is attributed by home healthcare, owing to portable and technologically advanced diagnostic and therapeutic sleep apnea devices.
“Though sleep apnea is one of the most common conditions in the society, many people are unaware of its effects and symptoms, which has led to large undiagnosed population. Increasing awareness of of the ill effects of the disorder among people, will widen the opportunity for the sleep apnea device manufacturer in the North American region. Availability of reimbursement will further help in the growth of the market,” said Rikitha K Murthy, Research Analyst, Infoholic Research.
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Key insights of the report include:
- Major Product Types:
- Diagnostic Sleep Apnea Devices
- Therapeutic Sleep Apnea Devices
- Key end-users:
- Hospitals & Sleep Laboratory
- Industry outlook: Market trends, drivers, restraints, and opportunities
About Infoholic Research
Infoholic Research is a global market research and consulting organization providing strategic and high-level market intelligence in emerging and niche technologies. Founded in 2014, we are headquartered in India with an office in the US and with consultants working across the globe. Our market analysis powered by rigorous methodology and quality metrics provides information and forecast across all the emerging markets, technologies and business models. We aim at delivering high-quality results to our clients providing them with in-depth industry insights to identify new business opportunities and nurture their business strategies. For more information, please visit www.infoholicresearch.com
Ms. Sunanda Ganguli
Infoholic Research LLP