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
Market Size Estimation:
Both top-down and bottom-up approaches were used to estimate and validate the total size of the sleep apnea devices market. These methods were also used extensively to estimate the size of various sub segments in the market.
The research methodology used to estimate the market size includes the following:
# The key players in the industry and markets have been identified through extensive secondary research
# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
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Report Objectives:
# To define, describe, and measure the global market by type, end user, and region
# To provide detailed information about major factors influencing market growth (such as drivers, restraints, growth opportunities, and challenges)
# To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the global market
# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
# To forecast the size of the market in North America, Europe, Asia Pacific (APAC), and the Rest of the world (RoW)
# To strategically analyze the market structure and profile key players and their core competencies3 in the global market
# To track and analyze competitive developments such as service launches, expansions, acquisitions, partnerships & collaborations; in the market.
Factors Influencing Global Growth:-
The major factors driving the growth of the sleep apnea devices market are primarily a 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 an increasing number of companies venturing into sleep apnea and oral appliances markets.
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Monetary Growth Expectations, Globally:
According to the Research Study conducted by MarketsandMarkets™: The global sleep apnea devices market is expected to reach USD 7.5 billion by 2024 from USD 4.5 billion in 2019 at a CAGR of 10.7%.
Geographical Growth Scenario:
On the basis of region, North America accounted for the largest share of the global sleep apnea devices market in 2018, whereas, the Asia Pacific region registered the highest CAGR during the forecast period. North American accounted for the largest share owing to factors like an increase in the number of patients diagnosed with sleep apnea in the region, growth in awareness initiatives being taken by various government and non-government organizations, availability of adequate funding for research and development, and substantial growth in the usage of oral appliances in the region.
Leading Market Players:
# ResMed (US)
# Koninklijke Philips (Netherlands)
# Fisher & Paykel Healthcare (New Zealand)
# SomnoMed (US)
# Oventus Medical (Australia)
# Compumedics (Australia) and many more…
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