ResMed (US), Koninklijke Philips N.V. (Netherlands) and Fisher & Paykel Healthcare (New Zealand) are leading players in Sleep Apnea Devices Market
The global sleep apnea devices market is expected to reach USD 8.0 billion by 2028 from USD 5.8 billion in 2023, at a CAGR of 6.5% during the forecast period. Factors such as the favorable reimbursement scenario and financial aid for sleep apnea devices and therapies and rising number of campaigns to educate about effects of untreated sleep apnea are expected to drive the demand for sleep apnea devices market. An example of this is the "More than a Snore" campaign initiated by the American Academy of Sleep Medicine. This collaborative project is supported by a grant awarded to the Academy by the Centers for Disease Control and Prevention's National Center for Chronic Disease Prevention and Health Promotion. Its primary objective is to increase awareness about obstructive sleep apnea.
The sleep apnea devices market is highly consolidated and is dominated by various players. The major players operating in this market are ResMed (US), Koninklijke Philips N.V. (Netherlands), and Fisher & Paykel Healthcare (New Zealand). These include a range of initiatives such as introducing new products, establishing contracts and partnerships, pursuing mergers and acquisitions, and engaging in new product development endeavors. These actions aim to enhance their position in the market for sleep apnea devices.
To know about the assumptions considered for the study download the pdf brochure
ResMed (US) has a diversified product portfolio, widespread geographical presence, and focus on strategies such as product launches and innovations. The company focuses on launching technologically advanced products to maintain its position in the market. Additionally, the company has a broad product portfolio for sleep apnea disorders and offers various devices and accessories. It prominently operates in North America. To sustain its position in the market, the company pursues product launches, approvals, enhancements, and acquisitions. For instance, in 2021, ResMed launched AirSense 11 next generation PAP Series, to treat and manage sleep apnea.
Koninklijke Philips N.V. (Netherlands) was the second-largest player. The company’s wide geographical presence and strong distribution network have also helped it gain a significant market share. In the past three years, innovation has been its core business strategy to increase its share in the sleep apnea devices market. Philips launched advanced sleep apnea products, expanded its reach into other geographies, and strengthened its product portfolio through organic and inorganic strategies. In 2020, Philips launched DreamWear Silicone Pillows in North America. These pillows use 3D facial scan data to fit diverse populations.
Fisher & Paykel Healthcare (New Zealand) In 2022, Fisher & Paykel Healthcare (New Zealand) was the third-largest player. The company employs multiple distribution channels and a direct sales team in around 40 countries to sell its products directly to hospitals, long-term care facilities, and home healthcare dealers. The company has a robust portfolio of sleep apnea devices in its Hospital and Homecare segments. In 2022, Fisher & Paykel Healthcare launched its new Evora Full, a compact full-face mask for obstructive sleep apnea (OSA) treatment in US.
Related Reports:
Sleep Apnea Devices Market 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
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
SEND ME A FREE SAMPLE
