USD 7.1 billion
Report ID:
SQSG35G2014 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
61
|Figures:
75
Sleep Apnea Devices Market size was valued at USD 5.4 Billion in 2023 and is poised to grow from USD 5.8 Billion in 2024 to USD 21.09 Billion by 2032, growing at a CAGR of 7.32% during the forecast period (2025-2032).
The global sleep apnea devices market is witnessing notable growth impacted by the rising cases of obesity, mounting incidences of sleep disorders, and improvements in CPAP technology. Modernizations in designs of devices like wearable and portable technology are improving patient comfort and compliance. However, the market is also facing a few barriers including significantly priced treatments and devices, growing lifestyle adjustments that create hesitation among patients for the use of these devices, and regulatory challenges. Yet, the opportunities that will help the market grow in the future include innovations like the integration of AI and advancements in wearables and smart devices and expansion in developing markets.
US Sleep Apnea Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 7.1 billion
Largest Segment
Therapeutic Devices
Fastest Growth
Therapeutic Devices
Growth Rate
6.9% CAGR
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Global Sleep Apnea Devices Market is segmented by Type, End User, Age Group, Gender and Region. Based on Type, the market is segmented into Therapeutic Devices (PAP Devices [CPAP Devices, APAP Devices, BPAP Devices], Facial Interfaces [Masks {Full-face Masks, Nasal Pillow Masks, Nasal Masks}, Cushions], Accessories [Humidifiers Accessories, Power Accessories, Transportation Accessories, Communication Accessories, Chin Restraints, Other Accessories], Oral Appliances [Mandibular Advancement Devices, Tongue-retaining Devices, Daytime-Nighttime Appliances, Other Therapeutic Devices]), Diagnostic Devices (PSG Devices [Abulatory PSG Devices, Clinical PSG Devices], Home Sleep Testing Devices, Oximeters [Fingertip Oximeters, Handheld Oximeters, Wrist-worn Oximeters, Tabletop Oximeters], Actigraphy Systems, Sleep Screening Devices). Based on End User, the market is segmented into Sleep Laboratories, Clinics, and Hospitals, Home Care Settings/Individuals. Based on Age Group, the market is segmented into Below 40 Years, 40-60 Years, Above 60 Years. Based on Gender, the market is segmented into Male Patients, Female Patients. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Sleep Apnea Devices Market Analysis by Type
Based on type, the sleep apnea devices market is categorized into therapeutic devices and diagnostic devices. The therapeutic devices segment held a notable share of the market in 2023 and is expected to lead over the forecast period, owing to the growing demand for CPAP treatment, proven effectiveness, and technological improvements. Improved CPAP devices are the commonly preferred treatments by healthcare professionals to treat obstructive sleep apnea and associated conditions. These devices are established to manage sleep apnea efficiently, resulting in high patient satisfaction and compliance. Moreover, modernizations in device design like more comfortable masks, less noisy machines, and improved user experience are propelling the use of these devices.
On the other hand, the diagnostic devices segment is projected to grow considerably over the forecast period owing to its growing significance in diagnosis, rising awareness among providers and patients, and advances in technology. Accurate diagnostic is vital for better treatment of sleep disorders, which raises the demand for diagnostic technologies like home sleep apnea tests and polysomnography. Moreover, growing awareness among healthcare providers and the public for the best sleep health is increasing the use of a greater number of devices and treatments to treat sleep-associated disorders. Also, innovations and advancements in user-friendly and portable devices have also increased preference among a large population.
Sleep Apnea Devices Market Analysis by End User
Based on end user, the market is segmented into sleep laboratories, clinics, and hospitals. The hospitals segment held a notable market share in the previous years and is expected to continue dominance over the forecast period as well owing to exhaustive care offered by hospitals and better accessibility to diverse treatments and technologies. Hospitals deliver a wide range of services, comprising treatment, diagnosis, follow-ups, and more. This increases the preference for hospitals for better sleep apnea care management than other specialized clinics or care centers. Moreover, hospitals have better access to diagnostic technologies and various therapeutic devices that streamline effective treatment and precise diagnostics.
On the other hand, the sleep laboratories segment will hold a notable market share in the forthcoming years owing to specialized testing services offered and the availability of expert care. Sleep laboratories are specially designed to perform a number of exhaustive sleep studies, also known as polysomnography, which is important for sleep apnea. Specialized services are majorly propelling the demand and need for sleep laboratories. These laboratories are equipped with well-trained professionals who can better understand examination results and offer suitable advice to patients for treatments. This contributes to a strong market for sleep laboratories.
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Region-wise, North America dominated the market in 2023 and is expected to lead over the forecast period owing to the growing incidences of sleep disorders, the presence of improved healthcare, and increased education and awareness among individuals for sleep apnea and benefits of its treatments. North America holds the leading number of patients suffering from sleep apnea, which ultimately demands reliable and effective therapies and treatments. Also, the growing obesity cases and sedentary lifestyles is associated with sleep disorders, thus demanding better treatments. Regional growth is also impacted by the availability of developed healthcare systems and better accessibility to streamline treatment and diagnostics. The leading players profiled in the region include Philips Respironics, Medtronic, SomnoMed, ResMed Inc., Natus Medical Incorporated, Oventus Medical, Breas Medical, and more.
Asia-Pacific is the fastest-growing region in the global sleep apnea devices market due to the rising cases of sleep disorders, enhancing healthcare infrastructure, and growing awareness. The rising obesity rate in Asia-Pacific along with sedentary lifestyles is resulting in increased use of sleep disorders, thus demanding reliable treatment and therapies. Regional growth is also driven by enhancing healthcare that streamlines access to multiple treatment options and diagnosis. Furthermore, the growing number of education and awareness campaigns regarding sleep disorders and associated treatments is fueling the demand for therapeutic and diagnostic devices.
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Sleep Apnea Devices Market Driver
Growing Shift Towards Home-Based Care
Increasing Healthcare Expenditure
Restraints
Growing Competition from Alternative Therapies
Reimbursement Challenges
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The global sleep apnea devices market is notably progressing backed by constant efforts by several global competitors. The leading market vendors focused on offering portable devices and user-friendly designs comprise Koninklijke Philips N.V., SomnoMed, Oventus Medical, Fisher & Paykel Healthcare Limited, and Braebon Medical Corporation. These industry experts are highly focused on developing custom-fit oral devices and wearable technologies to help treat different sleep disorders prevalent on global scale. Overall, the global market is fueled by the growing elderly population, emergence of innovative solutions like improvements in CPAP devices, and awareness for sleep disorders.
Sleep Apnea Devices Market Top Player's Company Profiles
Sleep Apnea Devices Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the sleep apnea devices market is considerably progressing due to the growing incidences of sleep apnea disorders, rising education initiatives and awareness in unexplored regions, and developments and advances in CPAP devices. However, the market is restrained by low awareness in the developing regions, patient adherence to CPAP therapy, and strict approval processes. North America is anticipated to lead the market owing to strong R&D infrastructure, supportive insurance coverage, and technological advancements. Nonetheless, a few opportunities for the growth of the sleep apnea devices market include growing research and developments, rising emphasis on mental health, and collaborations and alliances.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 5.4 Billion |
Market size value in 2032 | USD 21.09 Billion |
Growth Rate | 7.32% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Sleep Apnea Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sleep Apnea Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sleep Apnea Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sleep Apnea Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQSG35G2014
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