Problems with sleeping are quite common and are also referred to as a worldwide epidemic. Sleep apnea is one such problem. Obstructive sleep apnea is very prevalent. About eighty four percent of those afflicted with sleep apnea are detected with obstructive sleep apnea. Research has shown that there are around hundred million obstructive sleep apnea cases in the world and eighty percent out of them remains undetected.
The sleep apnea devices market is new and is achieving momentum with time. This momentum is taking place at a quick rate, particularly in urbanized geographical regions. The sleep apnea devices market demand is predicted to augment at a quicker rate. This is owing to growing consciousness among patients and doctors about this illness.
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The market is experiencing extraordinary development across the globe owing to massive need for advanced methodologies of treatment. It is necessary for people to sleep well in order to make sure that they remain healthy. The rapid expansion of the medical devices industry is considered to be a major component, driving demand for the sleep apnea devices market.
The sleep apnea devices market was found worth about USD 3, 805 million in 2012. It is estimated to increase from 2013 to 2019, at about 8 percent CAGR. The quick innovations in technology and growing consciousness regarding sleep apnea are anticipated to offer huge prospects of improvement to the market. The sleep apnea devices market is expected to witness maximum development over the projected period.
Not agreeing to resort to these devices for treatment, heavy uneasiness and consistency of remedial devices are expected to prevent the approval of sleep apnea devices. This is likely to prevent the sleep apnea devices market from growing further. North America occupied the biggest share in the market in 2012. It was trailed by Europe in the same year. Both these continents accounted for the lion’s share in the sleep apnea devices market.
This is owing to growing sleep apnea cases, rising awareness about them and increasing acceptance of sleep apnea devices.
Information Source: Grand View Research