The largest sleep apnea market companies are GE Healthcare, BMC Medical, Philips Healthcare, Weinmann Medical Devices, CadwellLaboratorie, Compumedics, Curative Medical, Teleflex, CareFusion Corporation, Fisher &Paykel Healthcare, ResMed, SOMNOmedics, Invacare Corporation, Natus Medical and others.
What is sleep apnea?
Sleep apnea is a severe sleep condition that happens when a patient’s breathing is disturbed during sleep.
What are the growth factors of the sleep apnea device market?
One of the crucial reasons subsidizing the sleep apnea device market growth is the accumulative incidence of obstructive sleep apnea across the world. Furthermore, swelling consciousness for the target condition, snowballing patient adherence for positive airway pressure machines, and initial disease diagnosis are spurring the demand for sleep apnea devices.
The global sleep apnea devices market size is expected to hit around US$ 10.1 billion by 2027, rising at a notable CAGR of 7.1% during the forecast period from 2022 to 2027.
The prevalence of undiagnosed sleep apnea patients, rising oral appliance use, and technological improvements in sleep apnea devices are just a few of the factors fueling the growth of the worldwide sleep apnea market.
The market demand is anticipated to increase in the near future due to significant venture capital funding, the cumulative number of establishments volunteering in the sleep apnea and oral appliances sectors. Additionally, it is predicted that the market of sleep apnea devices would increase dramatically over the next several years due to the increasing prevalence of obstructive sleep apnea on a global scale.
Sleep Apnea Market Growth
Due to various potential benefits offered by mHealth and telemedicine in enhancing sleep apnea care and diagnosis, the global sleep apnea market is predicted to rise optimistically. According to numerous research, patient compliance during the first few weeks of treatment is one of the main predictors of long-term CPAP compliance. Follow-up and support during this time must be prompt in order to promote compliance. Due to the difficulty in providing this help due to long waiting lists, telemedicine fills the gap. According to numerous studies, patients who received care through telemedicine expressed high levels of satisfaction with it, particularly with the convenience of a live video consultation with their doctor and consultant.
Sleep Apnea Devices Market Report Scope
| Report Highlights | Details |
| Market Size | USD 10.1 Billion by 2027 |
| Growth Rate | CAGR of 7.1% from 2021 to 2027 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2021 to 2027 |
| Segments Covered | Product Type, End User Type, Region Type |
Sleep Apnea Market Report Highlights
- Product Insights: Therapeutic devices held the majority of the revenue share in the market in 2020 across the various product segments examined in this analysis. This trend is attributed to increased patient disease awareness, the accessibility of technologically advanced products, and escalating market competition. The PAP devices sub-segment is predicted to have notable growth over the course of the assessment period. This impressive rise is attributed to the growing need for effective, better, and portable sleep apnea equipment. Additionally, adequate insurance coverage for the treatment of sleep apnea and other sleep disorders would increase demand for PAP machines globally.
- End-user Insight: Diagnostic and therapeutic devices are two of the end-use industries examined in this research paper. In hospitals and sleep labs, the range of equipment used is primarily restricted to diagnostic tools such actigraphy systems, tabletop pulse oximeters, and clinical PSG devices. Since clinical polysomnography examinations have long been considered the gold standard for diagnosing sleep apnea, there has been an increase in the number of sleep tests and laboratories performed using this technology globally.
Regional Analysis
At 48.7% of global revenue in 2021, North America had the highest proportion. The growth is being fueled by a number of different factors, including shifting lifestyles, rising disposable income, the presence of well-known players, an increase in the number of obese people, an increase in the prevalence of respiratory diseases, an increase in OSA awareness, and supportive government policies. An increasing senior population and an increase in the incidence of lifestyle diseases like cancer, diabetes, hypertension, and chronic respiratory illnesses are expected to cause Asia Pacific to expand at the quickest rate during the projection period.
Sleep Apnea Market Dynamics
Drivers: Over the approaching years, it is anticipated that OSA prevalence would increase quickly with people’s ages. It is expected that the demand for sleep apnea treatment devices will be driven by the growing patient population who have been diagnosed with OSA. The demand for effective therapy is growing, especially in developing and isolated locations. One of the main reasons promoting the growth of the sleep apnea devices market is the availability of advantageous reimbursements and financial help for sleep apnea devices and therapies.
Also Read: Orthopedic Devices Market Size US$ 56.23 Bn By 2030
Restraints: On the other hand, it is anticipated that factors such as the high cost of CPAP devices, difficult referral processes, protracted waiting times, and worries about product recalls will restrain market expansion. In addition, during the forecast period of 2022 to 2030, a lack of patient compliance is anticipated to be a barrier to the market for sleep apnea devices.
Opportunities: Additionally, the market players would have lucrative prospects due to the rise in demand for home sleep apnea tests (HSATs) during the projected period of 2020 to 2027. The market will also grow as mHealth (mobile health), telemedicine, and artificial intelligence become more prominent.
Recent Development
- In June 2021, Oventus Medical announced their collaboration with Aeroflow Healthcare. Through sleep clinics in the US, the alliance intends to provide Oventus’ obstructive sleep apnea (OSA) treatment options directly to consumers.
- In February 2021, Oventus Medical introduced 02Vent Optima. The product is an adaptable oral appliance therapy device that, through GoPAPfree in the US, offers an alternative to CPAP therapy.
Market Segmentation
By Product Type
- Diagnostic Devices
- Respiratory Polygraphs
- Actigraphs
- Polysomnography (PSG) Device
- Pulse Oximeters
- Therapeutic Devices
- Nasal Devices
- Positive Airway Pressure (PAP) Devices
- Oral Devices
- Chin Straps
By End-User
- Home Care Setting
- Sleep Laboratories & Hospitals
- Others
Regional Segmentation
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)
- Latin America (Brazil and Rest of Latin America)
- Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/1053
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333