Overview: Sleep Apnea is a common disorder which results in disturbed or poor quality of sleep. It is mainly caused by breathing pauses or shallow breathing during sleep. To treat sleep apnea, a wide range of diagnostic and therapeutic medical devices are being used. North American sleep apnea devices market is expected to rise, as the device manufacturers are continuously developing and improving their devices to increase efficiency, patient compliance and cost-effectiveness. Technological advances in mask designs, improved designs of CPAP, Bi-level, APAP devices and increased service support for PAP device users are expected to stimulate the growth of this market.
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Market analysis: The sleep apnea market is estimated and forecasted in terms of revenue (in USD million) generated by the sleep apnea devices from 2019 to 2024. It is expected that the North American sleep apnea market is estimated to grow at CAGR 8.39% during the period of 2018 to 2023. However sleep therapeutics devices recorded more than 50% of market share in 2016 and it is expected to expand at a highest CAGR during the forecast period 2019 to 2024. By 2024 Canadian sleep apnea market revenue is expected to across USD 1.0 billion with the CAGR of ~ 10%.
Market segmentation: North American sleep apnea market can be segmented by type of devices used such as diagnostic devices and therapeutic devices. Sleep diagnostics devices are further segmented as portable monitoring, traditional PSG/ in-lab PSG, two channel screening devices, single channel screening devices, actigraphy, respiratory polygraphs and masks. Further sleep therapeutics devices are segmented as PAP devices, adaptive servoventilation (ASV), airway clearance systems, oxygen devices and oral Appliance.
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Key factors are driving the growth of sleep apnea devices market: