Sleep apnea is a potentially serious sleep disorder in which a person stops breathing for a few seconds at night either because of airways blockage or owing to no signal from the brain. In a serious condition, a human being stops breathing more than 10 times in an hour. Though sleep apnea is one of the most mutual conditions in society, many people are ignorant of its effects and symptoms, which has led to the enormous undiagnosed populace. Additionally, sleep apnea can affect anyone, even children. Furthermore, the key players of this market are making huge developments in the technology for treating people with such diseases and spread awareness related to this among the populace of North America which will further lead to market growth more significantly and players will be able to attain the highest market share in the region more efficiently during the forecasted period.
According to the report analysis, ‘North America Sleep Apnea Industry’ it states that there are several key players which are recently functioning in this market more significantly for accounting the highest market share around the globe by doing new and innovative developments in the manner of doing treatment and technology for making the cure more effective at a reasonable price includes ResMed, Philips Healthcare, Becton Dickinson and Company (CareFusion) and Fisher and Paykel. Other leading players in the market include SomnoMed ltd, Compumedics Ltd, Cadwell Laboratories, Imthera Medical, Itamar Medical, and BMC Medical. The significant growth in the awareness of the ill effects of the disorder among the populace of the region will extend the opportunity for the sleep apnea device manufacturer in the North American region. Whereas, the existence of reimbursement will further support the growth of the market.
The North America Sleep Apnea Device Market is expected to witness an effective CAGR of 7.7% during the forecast period of 2018-2024. Whereas, the market sleep apnea in North America is segmented into various segments which majorly includes device types, end-users, and regions. However, on the basis of geography, US accounted the North America sleep apnea devices market, followed by Canada. These two regions cooperatively attain a share of more than 90.0% of the total market. This was owing to the obtainability of technologically advanced sleep laboratories and accumulative awareness of sleep apnea in these regions.
Although, on the basis of end-users, large market share is attained by hospitals and sleep laboratories. Significant technological advancements in the devices are giving rise to user-friendly and compact products. These factors are making the market for home sleep study products to grow at a high rate. Moreover, the key players of this market are facing the challenges more efficiently by doing effective developments and knowing the coming market trends, growth drivers, investments and vertical player’s initiatives which further lead the market grew more significantly. Therefore, in the near future, it is expected that the market of sleep apnea in North America will increase more significantly over the recent few years.
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Ankur Gupta, Head Marketing & Communications