USD 7.1 billion
Report ID:
SQSG35G2014 |
Region:
Global |
Published Date: September, 2024
Pages:
157
|Tables:
61
|Figures:
75
Global Sleep Apnea Devices Market size was valued at USD 4.5 billion in 2022 and is poised to grow from USD 5.4 billion in 2023 to USD 19.65 billion by 2031, growing at a CAGR of 7.32% during the forecast period (2024-2031).
A sleeping disorder known as sleep apnea is characterized by an individual's irregular rhythm of breathing while they are asleep. Untreated sleep apnea causes the brain and the rest of the body to receive insufficient oxygen, which causes people to have irregular breathing while they sleep. Elderly individuals and those with illnesses including diabetes, hypertension, cardiovascular ailments, and others are more likely to have this condition. Obstructive sleep apnea (OSA) is the most common kind of sleep apnea worldwide, and its prevention requires early diagnosis and the use of treatment equipment.
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 Device Type
In 2020, the market was led by the therapeutic device category. The therapeutic sector will be dominated by the rising number of diagnosed patients receiving treatment in sleep clinics, particularly in developed nations, which includes CPAP therapy. Around 95% of Americans with diagnoses receive therapy, and CPAP is the most popular form of treatment among these patients, according to KOL interviews.
Increased diagnosis rates are being seen in both developed and developing nations due to the vast undiagnosed population and increased patient awareness. This is increasing demand in these nations for diagnostic tools like polysomnography equipment.
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In 2020, the North American market had a value of 4.16 billion USD. The higher frequency of the illness and the advantageous reimbursement rules, which have been essential in the larger adoption of such devices in the region, are to blame for North America's supremacy. The American Academy of Sleep Medicine (AASM) estimates that in the United States, between 3.0 percent and 7.0 percent of males and 2.0 percent to 5.0 percent of women suffer from sleep apnea.
On the other hand, the market in Europe is anticipated to expand at a considerable CAGR by 2028 due to the region's high adoption of these devices, increased awareness of sleep apnea, and the growing need for diagnostic testing. Due to the rising prevalence of sleep apnea in developing nations as well as the rising demand for sleep apnea devices in Australia and Japan, the Asia Pacific market is predicted to expand more quickly. An estimated 14% of adult Indians, according to research that has been published, have sleep apnea.
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Sleep Apnea Devices Market Driver
Growing Prevalence of Obstructive Sleep Apnea
Sleep Apnea Devices Market Restraint
High Cost of Devices
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The Global Sleep Apnea Devices market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.
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, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Sleep Apnea Devices Market Analysis, the vast population of undiagnosed sleep apnea patients, increased public awareness of the negative effects of untreated sleep apnea, rising oral appliance adoption, and an increase in the number of businesses entering the sleep apnea industry are the key drivers of market expansion.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 4.5 billion |
Market size value in 2031 | USD 19.65 billion |
Growth Rate | 7.32% |
Base year | 2023 |
Forecast period | 2024-2031 |
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