The Global Sleep Apnea Devices Market size was valued at USD 5.1 Bn in 2020 is expected to reach USD 7.5 Bn by 2027, with a growing CAGR of 6.6 % during the forecast period.
According to the Official Journal of the Asian Pacific Society of Respirology, about 1 billion among 7.3 billion people around the world suffer from sleep-disordered breathing, obstructive sleep apnea. This is due to increasing obesity and other respiratory disorders. An increase in the prevalence of sleep apnea and the adoption of sleep apnea devices contribute to propelling the sleep apnea devices market during the forecast period. Rapid development in e-commerce and online distribution has resulted in the high sale of sleep apnea devices and products.
The product acquisition and launches by numerous key players propel the sleep apnea devices market. For instance, in November 2017, Medequip Healthcare Solutions launched Hypnus Oxymed CPAP and BiPAP devices for sleep apnea therapy. In January 2021, Itamar Medical has announced the acquisition of Spry Health to expand its product offerings in remote sleep apnea monitoring and support for the condition.
In August 2021, Zoll Medical received the FDA approval for an updated sleep apnea implant acquired by Respicardia. The high adoption rate of sleep apnea devices products is one of the prominent driving factors for the sleep apnea devices market. The awareness for a healthy lifestyle drives the growth of the sleep apnea devices market.
Sleep Apnea Devices Market Segmentation:
By-Products
By End-user
By Region
Based on type, the therapeutic devices segment has the largest market share in 2020 due to the greater efficiency and easy availability for multiple applications
Based on products, the therapeutic devices segment has the largest market share in 2020 and maintains dominance during the forecast period. This is due to the high availability of therapeutic sleep apnea devices and the increasing prevalence of sleep apnea among the world population.
Based on end-user, the sleep laboratories & hospitals segment has accounted for the highest market share in 2020 due to the huge demand from developing economies and presence of several multinational players
Based on the end-user, the sleep laboratories & hospitals segment is having the largest market shares in 2020 and is expected to propel the segment of the sleep apnea devices market. The increasing number of foot augmentations and treatments in the hospitals and specialty clinics propel the segment. Obstructive sleep apnea is regarded as one of the most prevailing sleep-related respiratory disorders. Thus, the increasing covid cases drive the segment in the sleep apnea devices market.
Based on region, North America accounts for the largest market shares in 2020 and is expected to maintain the dominance over during the forecast period
Based on region, North America dominated the market in 2020. The region has high usage and demand for sleep apnea devices due to the large volume of the covid affected patient population in the region. The region is attributed to the largest share due to its increasing healthcare expenditure and well-established healthcare infrastructure. The awareness for sleep apnea devices is the factor attributed to driving the sleep apnea devices market in the region. Many key players are investing in acquisitions, merges, and launches in the sleep apnea devices market.
Companies concentrated on online shopping services and innovative product packaging to increase the usability of sleep apnea devices products. In February 2020, Fisher & Paykel Healthcare Corporation Limited launched a nasal mask named F&P Evora which is used for the treatment of obstructive sleep apnea. In August 2021, Somne announced the launching of a non-invasive alternative to CPAP. Somne’s is worn around the neck to provide therapy to patients during sleep and it uses patented Variable Negative Pressure (vNEP) technology.
Company Profiles and Competitive Intelligence
The key players operating in the sleep apnea devices market are:
The report also provides an in-depth analysis of sleep apnea device market dynamics such as drivers, restraints, opportunities, and challenges
Drivers
Restraints
Opportunities
Challenges
COVID-19 Impact on the sleep apnea devices market analysis
The covid-19 outbreak experienced a positive impact on the sleep apnea devices industry as it has increased in terms of growth and revenue generation. The COVID-19 cases were increasing day by day and the lockdown was imposed across the world. According to World Health Organization and European Centre for Disease Prevention and Control, there are about 200 million confirmed cases of COVID-19 which have been reported globally. Due to this lockdown, the companies faced certain logistic and operational challenges. The increased adoption of home sleep apnea tests over PSG devices during the lockdown period enhanced the sleep apnea devices market during the pandemic.
The telemedicine, mhealth, teleconsultation, etc gained importance during the COVID-19. The production and demand of positive airway pressure devices, sleep ventilators, masks, and others gained high production during the pandemic. The built-in technology in smartphones for sleep apnea detection gained a high demand driving the sleep apnea devices market during the COVID-19. According to WebMD LLC., about 82,000 patients in the United States [PR1] [KC2] were tested for sleep disorders between the years 2015 and 2020. There was an increase in product launches and approvals.
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 April 2020, Cadwell Industries, Inc. launches the ApneaTrak home sleep apnea testing device for diagnosis of sleep apnea and for testing the efficacy of treatments.
The report also provides an in-depth analysis of key trends in the sleep apnea devices market
The unique insights provided by this report also includes the following:
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