Overview

Sleep Apnea Devices Market Introduction

Sleep Apnea Devices Market is estimated to value over USD 6 billion by 2027 end CAGR of over 10% during the forecast period from 2020 to 2027.

The rising prevalence of sleep disorders in the global population is one of the main factors driving the growth of the global sleep apnea devices market. The rising geriatric population due to improved medical procedures also increases cases of sleep disorders and ailments among the population. According to the Sleep Apnea Organization, more than 22 million Americans experience sleep apnea disorder and 80% of moderate to severe sleep apnea cases were undiagnosed. On a global scale, over 100 million people collectively suffer from sleep apnea. Thus, the growing prevalence of sleep apnea as a major disorder affecting the majority of the population is one of the factors responsible for the growth of the sleep apnea devices market.

Obstructive sleep apnea (OSA) is a prevalent ailment, which affects about 20% of the world population, thus demanding medical solutions and remedies in high numbers. It is a chronic and fatal sleep sickness that is widely undiagnosed and overlooked. However, various government initiatives are benefiting patients by raising awareness about OSA. For instance, in the United States, the American Sleep Apnea Association (ASAA) was founded in 1990, advances awareness regarding sleep apnea, advocates for sustainable developments in therapies for this severe complication, and works in the interest of the patients. The factors, such as heightened occurrences of sleep apnea, growing consciousness among the patient population in the developing countries, favorable government initiatives, and forthcoming technological advancements, are expected to drive the growth of the market over the forecast period.

An increasingly sedentary lifestyle with serious alterations leading to grave side-effects, resulting in cardiovascular disease, erratic sleep patterns, and high frequencies of stress and obesity, will continue to boost the industry's development. All of these factors increase the prevalence of sleep apnea. The inadequacy of patient conformity and significant healthcare costs are predicted to restrict the development of the market.

Advances in technology to improve sleep apnea devices have led to the growth of a range of standard sleep apnea therapies. Moreover, continuous efforts both in private and public sectors to develop efficient equipment and cures, raise global demand. The untapped potential in emerging countries will expand the market over the forecast period. Raised consciousness and a positive reimbursement scenario will improve the adoption rate.

North America led the global market with the largest market share. An extensive patient pool and the presence of established manufacturers helps the growth of the market and is further anticipated to augment the regional demand. Rising concerns regarding health risks arising out of sleep apnea is promoting the market growth. Technological improvements in diagnostic and therapeutic devices and accessibility of products like the Elastic Mandibular Advancements (EMA), is another factor promoting the regional revenue growth.

The Asia Pacific is projected to be the fastest-growing market over the forecast period. A large patient pool with an increasing number of clinics is anticipated to promote robust growth. Manufacturers are concentrating on fabricating policies towards enhancing their customer base through the introduction of affordable devices for price-sensitive customers in the Asia Pacific.

Sleep Apnea Devices Market is majorly occupied by firms such as:

ResMed, Koninklijke Philips, Fisher & Paykel Healthcare, SomnoMed, Oventus Medical, Compumedics, Löwenstein Medical, Drive DeVilbiss Healthcare, BMC Medical, Braebon Medical and Panthera Dental

Sleep Apnea Devices Market

Sleep Apnea Devices Market Segmentation:

By Type

Therapeutic Devices
Diagnostic Devices

By End User

Sleep Laboratories & Hospitals
Home Care Settings/Individuals

By Region

Europe
North America
APAC
Latin America
Rest of World

Competitive Landscape:

Tier 1 players- established companies in the market with a major market share
Tier 2 players
Emerging players which are growing rapidly
New Entrants

FutureWise Takeaways:

Growth prospects
SWOT analysis
Key trends
Key data points affecting market growth

Objectives of the Study:

To provide an exhaustive analysis on the global sleep apnea market by type, by end-user, and by region.
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the rest of the world
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials and core competencies