What is the global market size of Sleep Apnea Devices Market?

Sleep Apnea Devices Market size was valued at USD 7.1 billion in 2021 and is poised to grow from USD 7.59 billion in 2022 to USD 13.84 billion by 2030, growing at a CAGR of 6.9% in the forecast period (2023-2030).

Who are the key vendors in the Global Sleep Apnea Devices Market?

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. 'Koninklijke Philips N.V. ', 'ResMed', 'Fisher & Paykel Healthcare Limited', 'Invacare Corporation', 'DeVilbiss Healthcare LLC (a subsidiary of Drive DeVilbiss Healthcare)', 'BMC Medical Co., Ltd.', 'Natus Medical Incorporated', 'Weinmann Emergency Medical Technology GmbH + Co. KG', 'SOMNOmedics GmbH', 'Compumedics Limited', 'Braebon Medical Corporation', 'APEX Medical Corporation', 'Löwenstein Medical GmbH & Co. KG', 'Circadiance LLC', 'Curative Medical Inc.', 'Panthera Dental Inc.', 'NovaSom Inc.', 'Inspire Medical Systems, Inc.', 'Advanced Brain Monitoring, Inc.', 'Itamar Medical Ltd.'.

What is the key driver of Global Sleep Apnea Devices Market?

The prevalence of cardiovascular illnesses, irregular sleep patterns, high levels of stress, and obesity is rising as a result of people's sedentary lifestyles. According to information provided by the European Respiratory Society, between 13% and 32% of Europe's elderly population suffer from sleep apnea.

What is the key market trend for Global Sleep Apnea Devices Market?

The development of novel options for the treatment of sleep apnea has been greatly aided by the movement of patients toward technologically improved gadgets. For instance, due to patient discomfort with CPAP machines, the usage of oral devices such as the mandibular advancement device (MAD) for OSA therapy has grown.

Which region accounted for the largest share in Global Sleep Apnea Devices Market?

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.

Sleep Apnea Devices Market Size, Share, Growth Analysis, By Type(Therapeutic Devices (PAP Devices [CPAP Devices, APAP Devices, BPAP Devices], Facial Interfaces [Masks {Full-face Masks), By End User(Sleep Laboratories, Clinics, and Hospitals), By Age Group(Below 40 Years, 40-60 Years, Above 60 Years), By Gender(Male Patients, Female Patients), By Region - Industry Forecast 2024-2031

Report ID: SQSG35G2014 | Region: Global | Published Date: September, 2024
Pages: 157 | Tables: 61 | Figures: 75

Sleep Apnea Devices Market Insights

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).

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.

Sleep Apnea Devices Market Report Snapshots

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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. 'ResMed', 'Koninklijke Philips N.V.', 'Fisher & Paykel Healthcare Limited ', 'Inspire Medical Systems, Inc. ', 'SomnoMed ', 'Oventus Medical ', 'Compumedics Limited ', 'Lowenstein Medical Technology GmbH + Co. KG ', 'Drive DeVilbiss Healthcare ', 'BMC Medical Co., Ltd. ', 'Braebon Medical Corporation ', 'Whole You, Inc. ', 'Panthera Dental ', 'Myerson LLC ', 'ProSomnus Sleep Technologies ', 'Nidek Medical India ', 'TOMED GmbH ', 'LivaNova ', 'Invacare Corporation ', 'MPowrx Health & Wellness'

The growing inclination towards home-based care like HSAT (home sleep apnea testing) is enabling patients to perform tests in a more comfortable and in a convenient manner. This increases treatment initiation and increased diagnosis. Moreover, the growing shift towards using homecare therapies like CPAP due to their easy use and flexibility as compared to in-lab testing is driving their demand and hence, the market growth.

Remote Monitoring and Telehealth: The recent pandemic has considerably increased the use and adoption of telehealth, enabling individuals to contact and take advice from their medical professionals virtually. This trend continues to progress and allows remote monitoring and modifications in therapy. Patients are also actively preferring home-based testing devices that reduce frequent lab visits.

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.

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Sleep Apnea Devices Market Insights

Sleep Apnea Devices Market Report Snapshots

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What is the global market size of Sleep Apnea Devices Market?

Who are the key vendors in the Sleep Apnea Devices Market?

What is the key driver of Sleep Apnea Devices Market?

What is the key market trend for Sleep Apnea Devices Market?

Which region accounted for the largest share in Sleep Apnea Devices Market?

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