The sleep apnea devices market is currently witnessing a strong focus on innovation, according to a Research and Markets report. Many established market players such as ResMed Inc and new entrants such as Airing LLC are focusing on innovation, the report titled“Sleep Apnea Devices Market by Product, Diagnostic, Therapeutic [CPAP, APAP, BPAP, Masks , Oral Appliances (Mandibular Advancement Device)], End User (Home Care Settings, Hospitals) – Analysis & Global Forecasts to 2020” notes. Efforts by new and established players in the market have led to the development of a strong pipeline of products that are expected to better serve sleep apnea patients. This rich pipeline of innovative products is likely to open an array of opportunities for the sleep apnea market.
In 2015, therapeutic devices type segment is expected to account for the largest share in the market and grow at the highest rate; the home care settings segment is expected to account for the largest share of the sleep apnea devices market, by end user.
In 2015, North America accounted for the largest share of the global sleep apnea devices market, followed by Europe, Asia, and the rest of the world. In the coming years, the sleep apnea devices market is expected to witness the highest growth rate in Europe; this can be attributed to increased awareness on sleep apnea and the improving reimbursement scenario in the region. Furthermore, the intervention of the government and trade associations to address untreated sleep apnea will act as an additional growth driver in the region.
The sleep apnea devices market comprises a few large players and several small players. Technological advancements, the availability of new products for the treatment of sleep apnea, and evolving industry standards are propelling the growth of this market. New product launches was the key growth strategy adopted by players in the sleep apnea devices market. This strategy was employed by players to widen and strengthen their product portfolios. Acquisitions and collaborations, agreements, and partnerships were other key areas of focus for market players.