The study involved four major activities in estimating the current market size for sleep apnea devices. Exhaustive secondary research was done to collect information on the market and its different sub-segments.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter market breakdown and data triangulation was used to estimate the market size of segments and sub-segments
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Recent Developments:
# In 2019, ResMed (US) launched AirFit N30i, its first top-of-head-connected nasal CPAP mask, across the US with a newly designed nasal cradle cushion that sits just under the wearer’s nose.
# In 2016, Koninklijke Philips (Netherlands) launched its Dream Family solution which comprises of a DreamWear mask, DreamStation PAP device, and DreamMapper patient engagement app.
Key questions addressed by the report:
# Which type segment will dominate the market in the future?
# Emerging countries have immense opportunities for the growth and adoption of sleep apnea devices, therefore will this scenario continue in the next five years?
# Where will all the advancements in technology offered by various companies take the industry in the mid to long term?
# What are the upcoming alternative therapies and devices related to the same in the sleep apnea devices market?
Factors Influencing the Global Industry Growth:
Growth in the sleep apnea devices market can be attributed to factors such the large pool of undiagnosed sleep apnea patients, growing awareness about the ill effects of untreated sleep apnea, growing usage of oral appliances, technological advancements in sleep apnea devices, considerable venture capital funding, and the increasing number of companies venturing into sleep apnea and oral appliances markets.
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Restraints:
# High Cost of CPAP Machines
# Complex Referral Pathways and Long Waiting Periods
Opportunities:
# Growing Demand for Home Healthcare
# Increasing Focus on Telemedicine and Mhealth (Mobile Health)
Challenges:
# Lack of Patient Compliance
Major Industry Leaders:
# ResMed (US)
# Koninklijke Philips (Netherlands)
# Fisher & Paykel Healthcare (New Zealand)
# SomnoMed (US)
# Oventus Medical (Australia)
# Compumedics (Australia) and many more…
Analysis of the market developments between 2016 and 2019 revealed that several growth strategies such as partnerships & agreements, expansions, service launches, and strategic acquisitions were adopted by the market players to strengthen their product portfolios and maintain a competitive position in the sleep apnea devices market.
