At a CAGR of 6.8%, Sleep Apnea Devices Market is Expected to Reach USD 10.40 Billion in 2027, Says Brandessence Market Research

LONDON, May 30, 2022 /PRNewswire/ -- The Sleep Apnea Devices Market Values is expected to record a valuation of USD 10.40 Billion by 2027, Registering to Accelerate at a 6.8% CAGR, According to the most recent study by Brandessence Market Research & Consulting Pvt ltd.

The Global Sleep Apnea Devices Market size was Valued at USD 5.75 Billion in 2018. Sleep Apnea Devices Market Size, Share & Trends Analysis Report By Disease Type (Obstructive, Central, Mixed) By Product Type (Therapeutic Products (Oxygen Devices, Adaptive Servo-Ventilation, Oral Devices) By Diagnostic Products (Polysomnography, Screening Devices, Actigraphs) Based On Region, And Segment Forecasts, 2022 - 2028

"Increasing prevalence sleep related disease and changing human lifestyle are some of the factors responsible for the growth of Sleep Apnea devices Market"

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Sleep Apnea devices market: Market Scope

The global sleep apnea devices market is expected to grow at a rapid rate in the coming years. The reason for this tremendous growth is the increasing pool of patients who are undiagnosed about the sleep apnea problem. There is growth in the awareness of the ill effects which are caused by sleep apnea when untreated. Further, usage of oral appliances and an increase of the investment which companies are putting into this market is helping the growth of the market significantly.

Many emerging markets are leading the charge for this market. However, there are a few roadblocks which are related to the market growth that include the complexities in referral pathways and longer waiting periods.

The major players in the global sleep apnea devices market are Koninklijke Philips N.V., ResMed and Fisher & Paykel Healthcare. These are companies which are making their biggest effort in making diagnosis affordable for people and also putting in investment to make the market beneficial for players. The individual sector is where maximum investment is being put. The digital identity companies have also been doing well here.

• Lowenstein Medical Technology
• Philips Healthcare
• Carefusion
• Cadwell
• HOFFRICHTER GmBH
• Weinmann Medical Technology
• Breas Medical
• Honeywell International Inc.
• Medicraft Medical Systems Inc.
• Meditech Equipment Co. Ltd.
• Micomme Medical Technology
• North-Southern Electronics Ltd.
• Sheyang RMS
• others

Sleep Apnea devices market: Key Drivers

The sleep apnea devices market share is going to increase because there is a huge pool of patients who are undiagnosed of the sleep apnea and that is why this market holds a huge potential in the coming years. There is awareness which is happening aided by the efforts and campaigns through which the untouched base of the patients is going to be treated for the sleep apnea. There is also a trend where the oral appliances are increasing in application and the home sleep care is further increasing for the management of sleep apnea. This is adding a massive push to the growth of the global sleep apnea devices market. Many companies are venturing into this market and it is going to see further investment over the coming years.

Higher expenses of the machines however is one of the burdens which the market has to contend with. It is not as accessible to the middle- and lower-income population because of its cost and the medication is also not covered by Medicare except in a few rare cases. There are huge hurdles being created by patients due to multiple locations and higher cost of this diagnosis. This is why most cases are undiagnosed and hurdles are created for patients. Treatment compliances are also a big hindrance here.

Sleep Apnea devices market: Recent Development

The last couple of years have seen a lot of activity among the companies. There were mergers and acquisitions which helped companies expand their base in the global sleep apnea devices market. The Oventus Medical partnered with Aeroflow healthcare and made it official by signing an agreement. They provide services directly to consumers. In another innovation, a customizable appliance therapy was offered by the company in the US.

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Sleep Apnea devices market: Key Trends

Sleep apnea devices market recent trend shows that the sudden outbreak of the COVID-19 pandemic has caused a massive increase in the sleep apnea devices market. The pandemic came down hard on the world in the last two years and has caused major disruptions in the way the world operates. Authorities were forced to impose lockdowns in order to curb the spread of the coronavirus pandemic. Companies consequently faced challenges in operations and logistics because of the lockdown impositions.

The pandemic however impacted the sleep apnea patients and that caused a rise in the sleep apnea devices production. These are devices like masks, PAP devices and sleep ventilators. There were lockdowns all over the world and that made the home sleep apnea tests or the HSATs over the PSG devices. The teleconsultation and telemedicine were another aspect which gained a lot of popularity in the period. Covid however is on its decline after the vaccines came out and it will take away the impetus that the market has got. It is still going to grow at a steady pace in the coming years.

Sleep Apnea devices market: Segmentation Analysis

By Disease Type

• Obstructive
• Central
• Mixed

By Product Type

• Therapeutic Products
• Positive Airway Pressure (PAP) Therapy devices
• Continuous Positive Airway Pressure (CPAP)
• Bi-Level Positive Airway Pressure (Bi-PAP)
• Automatic Positive Airway Pressure (APAP)
• Oxygen Devices
• Adaptive servo-ventilation (ASV)
• Oral devices
• Soft Palate Lifters (SPL),
• Tongue Retaining Devices (TRD), And
• Mandibular Advancement Devices
• Others

Surgical Devices

• Others
• Diagnostic Products
• Polysomnography (PSG)
• Screening Devices
• Actigraphs
• Others

By End-User

• Hospitals
• Sleep Clinics
• Home Care settings
• Others

Reginal Analysis:

In terms of region, the global sleep apnea devices market has been segmented into the Europe, North America, Asia Pacific as well as the Rest of the World regions. The largest segment regionally was the North American segment in the market while it was followed by the European region. This large share in the region may be attributed to the increased prevalence of sleep apnea and the growth in awareness about this. There is a wider usage of the oral appliances for the sleep apnea and the major operators are all present in this region itself.

On Special Requirement Sleep Apnea Devices Market Report is also available for below region:

North America

• U.S, Canada

Europe

• Germany, France,U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe

Asia-Pacific

• South_Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC

Latin America

• Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America

Middle East and Africa

• Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA

Get Full Access of all Report: https://brandessenceresearch.com/healthcare/medical-devices/global-sleep-apnea-devices-market-2018-2024

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