Europe Sleep Apnea Devices Market is expected to grow at a CAGR of 6.5%
According to latest research report published by MarketsandMarkets, the Europe Sleep Apnea Devices Market report by Type, Therapeutic (PAP (CPAP, APAP, BPAP) Facial Interfaces, Oral Appliances, Accessories), Diagnostic (Psg, Oximeter, Actigraphy Systems), End User (Sleep Laboratories & Hospitals, Home Care Settings) & Region - Global Forecast to 2028, is expected to grow at a CAGR of 6.5% from 2023 to 2028. The growth of the market is attributed to the increasing prevalence of sleep apnea in the region, rising awareness about the condition, and government initiatives to promote the use of sleep apnea devices.
In Europe, the prevalence of sleep apnea is estimated to be around 10% of the adult population.
The number of people with sleep apnea is expected to increase due to the aging population and the rising prevalence of obesity. The governments of several European countries have launched several initiatives to promote the use of sleep apnea devices, such as subsidies for the purchase of devices and awareness campaigns.
The sleep apnea devices market in Europe is segmented by type, end-user, and distribution channel. By type, the market is segmented into continuous positive airway pressure (CPAP) devices, oral appliances, and other devices. CPAP devices are the most commonly used type of sleep apnea devices. Oral appliances are less effective than CPAP devices, but they are more comfortable to use. Other devices include bilevel positive airway pressure (BiPAP) devices and adjustable pressure ventilation (APV) devices.
By end-user, the market is segmented into hospitals, clinics, and homecare settings. Hospitals are the largest end-user segment of the market. Clinics and homecare settings are expected to grow at a faster pace than hospitals due to the increasing adoption of home-based sleep apnea treatment.
By distribution channel, the market is segmented into direct sales and indirect sales. Direct sales are the largest distribution channel of the market. Indirect sales are expected to grow at a faster pace than direct sales due to the increasing number of distributors and retailers selling sleep apnea devices.
The key players in the sleep apnea devices market in Europe include ResMed, Philips Healthcare, Fisher & Paykel Healthcare, and SomnoMed. These players are focusing on expanding their product portfolio, investing in research and development, and acquiring smaller players to strengthen their market position.
Here are some of the factors that are driving the growth of the sleep apnea devices market in Europe:
- Increasing prevalence of sleep apnea
- Rising awareness about sleep apnea
- Government initiatives to promote the use of sleep apnea devices
- Growing adoption of home-based sleep apnea treatment
- Increasing number of distributors and retailers selling sleep apnea devices
Here are some of the challenges that are hindering the growth of the sleep apnea devices market in Europe:
- High cost of sleep apnea devices
- Lack of awareness about sleep apnea
- Inadequate reimbursement for sleep apnea devices
- Side effects of sleep apnea devices
Overall, the sleep apnea devices market in Europe is expected to grow at a healthy pace in the coming years. The growth of the market will be driven by the increasing prevalence of sleep apnea, rising awareness about the condition, and government initiatives to promote the use of sleep apnea devices.
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