Global Sleep Apnea Devices Market is forecast to grow due to growing usage of oral appliances, the rising number of diagnosed sleep apnea patients, and growing awareness about the ill effects of untreated sleep apnea. The Global Sleep Apnea Devices Market size was valued at USD 5.1 Bn in 2020 and is expected to reach USD 7.5 Bn by 2027, with a growing CAGR of 6.6 % during the forecast period.
The increasing technological advancements and the adoption of sleep apnea devices drive the sleep apnea devices market during the forecast period. For instance, in January 2019, ResMed launched AirFit N30i in the United States, the nasal mask is designed with a nasal cradle cushion that fits properly under the nose of the user. The technological advancements and product launches encourage the demand for sleep apnea devices products.
The sleep apnea devices market is broadly segmented into type, end-user, and regions. Type is segregated into therapeutic and diagnostic devices. Based on type, the therapeutic devices segment has gained a tremendous sleep apnea devices market share in 2020 and is expected to gain more during the forecast period. The increasing adoption of sleep apnea therapeutic devices and increasing patient pool of sleep apnea drives the segment in the market.
The end-user segment in the sleep apnea devices market is segregated into sleep laboratories & hospitals and home care settings. Based on end-user, the sleep laboratories & hospitals segment has gained prodigious sleep apnea devices market shares in 2020 and is expected to acquire more during the forecast period. The increasing prevalence of sleep apnea and the strong distribution channels by the key players across the regions drives the segment in the sleep apnea devices market.
Global Sleep Apnea Devices Market by Region Outlook (Revenue, USD Million, 2021-2027)
Based on region, North America dominated the market in 2020 and is expected to maintain the same dominance throughout the forecast period. This is due to the high awareness & wide usage of oral appliances for sleep apnea. The respiratory disorders cause disturbance in sleep, driving the market. The rise in the number of therapeutic tests also drives the market in the region. The key players have a strong presence and strong distribution channels across the globe for easy product sales is driving the sleep apnea devices market. The key players like Somnetics International, Inc., ResMed, Oventus Medical, and many others have an increased revenue generation in sleep apnea devices. For instance, in March 2019, ResMed announced the acquisition of HB Healthcare (HBH) for sleep apnea, chronic obstructive pulmonary disease, and other respiratory conditions. In February 2021, Oventus Medical launched 02Vent Optima, as an alternative to CPAP therapy through GoPAPfree. in the U.S. Hence, all these factors resulted in driving the sleep apnea devices market growth over the forecast period.
However, the sleep apnea devices market in the Asia Pacific is anticipated to have a significant growth rate during the forecast period. The increasing pollution, rising respiratory disorders, increasing prevalence of lifestyle diseases, and rising geriatric population are among the key factors driving the Asia Pacific market.
The Global Sleep Apnea Devices market segmentation:
Global Sleep Apnea Devices Market by Product Outlook (Revenue, USD Million, 2021-2027)
Global Sleep Apnea Devices Market by End User Outlook (Revenue, USD Million, 2021-2027)
By Region
Key Findings:
Company Profiles and Competitive Intelligence
The key players operating in the sleep apnea devices market are:
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