PRESS RELEASE
Published May 13, 2023
The global market for sleep apnea devices is worth US$8.55 billion in 2020 and is expected to grow from US$8.09 billion in 2021 to US$13.1 billion in 2028. It will have an average annual growth rate of 7.1% in the period of 2028. According to our analysis, the market has registered a remarkable growth of 9.4% in 2020, compared with the average year-on-year growth of HE in 2019 from 2017. The impact of the novel coronavirus disease (COVID-19) has been staggering and unprecedented, and devices have had a positive impact on global demand during the pandemic. The CAGR decline will be driven by demand and growth in this market, which will return to pre-pandemic levels after the pandemic ends.
Sleep apnea is described as a potentially serious sleep disorder in which a person’s breathing exhibits abnormal patterns. People with untreated sleep apnea have difficulty breathing during sleep because the brain and other parts of the body are not getting enough oxygen. This condition is common in elderly patients and those suffering from ailments such as diabetes, high blood pressure, and cardiovascular disease. Obstructive sleep apnea (OSA) is the most common sleep apnea syndrome worldwide. To prevent this, early diagnosis and use of therapeutic devices are essential.
For example, according to data released by The Lancet, approximately 1 billion people worldwide suffer from sleep apnea in 2019. Therefore, the increasing incidence of this disorder across the globe, coupled with the rising geriatric population and associated comorbidities, is expected to drive demand for treatment, which in turn drives market growth during the forecast period. expected. Also, the COVID-19 global pandemic has presented unprecedented challenges to market growth in 2020.The shift of patients toward technologically advanced devices has been pivotal in developing new alternatives for sleep apnea management. For instance, the adoption of oral devices such as the mandibular advancement device (MAD) for OSA treatment has increased due to the discomfort caused by CPAP devices in patients. Also, according to the data published by NCBI based on various studies conducted in different countries, it is estimated that the compliance rate for CPAP devices among users has declined by up to 50.0%, and this has led to the launch of alternatives like oral appliances in the market that have proved to be effective and offer comfort to patients during the treatment of the disorder.
Along with this, actometer, a portable diagnostic device, has gained huge popularity among sleep clinics due to its non-invasive nature and low cost compared to traditional polysomnography devices (PSG). Hence, increasing non-adherence for CPAP devices coupled with the high demand for cost-effective diagnostic devices is propelling the shift of patients towards oral appliances and actometers for effective management of sleep apnea.
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Market Segmentation
The market for sleep apnea devices can be segmented based on several factors, including product type, end-user, and geography.
Product Type:
The sleep apnea devices market can be segmented into several product types including Continuous Positive Airway Pressure (CPAP) devices, Bi-level Positive Airway Pressure (BiPAP) devices, Adaptive Servo-Ventilation (ASV) devices, oral appliances, and masks and accessories. CPAP devices are the most commonly used devices for the treatment of sleep apnea.
End-user:
The sleep apnea devices market can be segmented based on end-users such as hospitals, home care settings, and sleep laboratories. Home care settings are expected to witness the highest growth during the forecast period, as more patients prefer to be treated at home.
Geography:
The sleep apnea devices market can also be segmented based on geography into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is the largest market for sleep apnea devices, followed by Europe and Asia Pacific. The Asia Pacific market is expected to witness significant growth during the forecast period. In addition to the above segmentation factors, the sleep apnea devices market can also be segmented based on the severity of the condition, with mild, moderate, and severe sleep apnea being the three categories. The severity of the condition plays a crucial role in the choice of treatment and the type of sleep apnea device used.
Key Players
ResMed Inc.: ResMed is a global leader in the sleep apnea devices market, with a wide range of products including continuous positive airway pressure (CPAP) devices, auto-titrating CPAP devices, and portable oxygen concentrators.
Philips Respironics: Philips Respironics is a subsidiary of Philips Healthcare, and is one of the largest players in the sleep apnea devices market. The company offers a range of products including CPAP devices, bi-level positive airway pressure (BiPAP) devices, and ventilators.
Fisher & Paykel Healthcare: Fisher & Paykel Healthcare is a New Zealand-based company that specializes in respiratory care products. The company offers a range of sleep apnea devices including CPAP devices, auto-titrating CPAP devices, and BiPAP devices.
Natus Medical Incorporated: Natus Medical is a global medical technology company that offers a range of products for the diagnosis and treatment of sleep disorders. The company’s sleep apnea devices include diagnostic equipment, CPAP devices, and BiPAP devices.
BMC Medical Co., Ltd.: BMC Medical is a China-based company that specializes in sleep apnea devices. The company offers a range of products including CPAP devices, auto-titrating CPAP devices, and BiPAP devices.
Drive DeVilbiss Healthcare: Drive DeVilbiss Healthcare is a US-based company that offers a range of respiratory care products, including sleep apnea devices. The company’s sleep apnea devices include CPAP devices, BiPAP devices, and portable oxygen concentrators.
Somnetics International, Inc.: Somnetics International is a US-based company that specializes in sleep apnea devices. The company’s flagship product is the Transcend CPAP machine, which is designed for use during travel.
Apex Medical Corp.: Apex Medical is a Taiwan-based company that specializes in respiratory care products. The company offers a range of sleep apnea devices including CPAP devices, auto-titrating CPAP devices, and BiPAP devices. In conclusion, the sleep apnea devices market is highly competitive, with several prominent players operating in the market. ResMed, Philips Respironics, and Fisher & Paykel Healthcare are among the largest players in the market, but there are also several smaller players that cater to specific segments of the market.
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Regional Trend
Sleep apnea is a sleep disorder characterized by pauses in breathing or shallow breaths during sleep. It is a common condition and affects millions of people around the world. Sleep apnea devices are used to treat sleep apnea and help patients breathe more easily during sleep.
The market for sleep apnea devices is segmented into several regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region has its own unique characteristics and market dynamics.
North America is the largest market for sleep apnea devices. This can be attributed to the high prevalence of sleep apnea in the region, coupled with the high awareness about the condition and its treatment options. The United States is the largest market in North America, followed by Canada.
Europe is the second-largest market for sleep apnea devices. The region is home to several prominent players in the sleep apnea devices market, and there is a growing demand for these devices due to the increasing prevalence of sleep apnea in the region.
Asia Pacific is expected to witness significant growth in the sleep apnea devices market during the forecast period. This can be attributed to the growing awareness about sleep apnea and its treatment options, coupled with the increasing disposable income of consumers in the region.
Latin America and the Middle East and Africa are relatively small markets for sleep apnea devices, but they are expected to witness steady growth during the forecast period. This can be attributed to the increasing prevalence of sleep apnea in these regions, coupled with the growing demand for healthcare services. In summary, the North American and European markets are the largest for sleep apnea devices, while the Asia Pacific market is expected to witness significant growth in the coming years. Latin America and the Middle East and Africa are relatively small markets but are expected to witness steady growth in the future.
Global Sleep Apnea Devices Market: Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.
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