Sleep Apnea Devices Market Size By Product (Therapeutics {Airway Clearance System, Adaptive Servo-ventilation {ASV}, Positive Airway Pressure {PAP} Device, Oral Appliances, Oxygen Devices}, Diagnostics [Actigraphy Systems, Polysomnography {PSG} Device, Respiratory Polygraph, Single-channel Screening Devices {Pulse Oximeter}), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Aug 2019  |  Report ID: GMI489  |  Authors: Sumant Ugalmugle

Report Format: PDF   |   Pages: 130   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Sleep Apnea Devices Market size was valued at USD 6.0 billion in 2018 and is expected to witness more than 7.5% CAGR from 2019 to 2025.
 

Sleep Apnea Devices Market

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Sleep apnea is an acute sleep disorder, in which person's breathing is interrupted during sleep. Untreated sleep apnea can cause chronic disorders such as cardiovascular diseases, high blood pressure, obesity and neurological conditions. Hence, increasing prevalence of sleep disorders across the globe will significantly drive sleep apnea devices industry growth over the projected timeframe. For instance, according to the National Healthy Sleep Awareness Project, in 2014, nearly 25 million adults in the U.S. were affected by sleep apnea and other sleeping disorders. The aforementioned factors will augment the global market growth.
 

Product innovation strategy in the sleep apnea devices by major market players will significantly boost the sleep apnea devices business growth in the future. Development of Hypoglossal Nerve Stimulation (HNS), an innovative approach is used to effectively treat moderate to severe obstructive sleep apnea. Moreover, increasing awareness among the population about the ill effects of sleep apnea has further boosted the product demand, thus augmenting the market growth.
 

However, high cost associated with diagnostic and therapeutic devices might restrict sleep apnea devices industry growth in the coming years. Also, stringent regulatory scenario for the approval of these devices will also serve as a major market growth limiting factor.
 

Sleep Apnea Devices Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 6 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 7.5% 2025 Value Projection: 10 Billion (USD)
Pages: 130 Tables, Charts & Figures: 162
Geographies covered (14): U.S., Canada, Germany, UK, France, Italy, Spain, Japan, China, India, Australia, Brazil, Mexico, South Africa
Segments covered: Product and Region
Companies covered (19): BMC Medical Co. Ltd., Becton Dickinson (CareFusion Corporation), Braebon Medical Corporation, Cadwell Laboratories Inc., Compumedics Limited, Curative Medical Inc., Fisher & Paykel Healthcare, GE Healthcare, ImThera Medical, Inc., Invacare Corporation, Itamar Medical Ltd., Natus Medical Inc., Nihon Kohden, Philips Healthcare, ResMed, Inc., Somnetics International, Inc., SOMNOmedics GmbH Medizintechnik, Teleflex, Inc., Weinmann Medical Devices
Growth Drivers:
  • Presence of advanced healthcare infrastructure in North America
  • Growing prevalence of sleep apnea and related co-morbidities in North America
  • Rising demand for portable, efficient and superior sleep apnea devices
  • Insurance coverage for treatment of sleep apnea and other sleep disorders in U.S.
  • Growing awareness regarding sleep apnea and other sleep disorders
  • Increasing aging population putting strain on European healthcare
  • Product innovation strategy adopted by key industry players in Europe
Pitfalls & Challenges:
  • Clinical consequences and economic impact of sleep apnea and related sleep disorders
  • Lack of adherence to sleep apnea treatment

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Sleep Apnea Devices Market, By Product

U.S. Sleep Apnea Devices Market Size By Product

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Positive airway pressure (PAP) devices pump pressurised air into the lungs, thus preventing episodes of airway collapse. PAP devices segment is estimated to witness significant growth at 10.2% CAGR across the forecast period. High growth is attributed to growing demand for efficient, portable and superior sleep apnea devices. Also, presence of favourable insurance coverage for treatment of sleep apnea and other sleep disorders will further augment PAP devices market growth.
 

Polysomnography (PSG) device is used for the diagnosis of sleep disorders. PSG device market held major revenue size of USD 770.1 million in 2018. Increasing prevalence of sleep apnea and related co-morbidities in various parts of the world is a major factor boosting the demand for polysomnography devices. Moreover, rising awareness regarding sleep apnea and other sleep disorders among the population will further propel market growth.
 

Sleep Apnea Devices Market, By Region

Asia-Pacific Sleep Apnea Devices Market By Country

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UK market held significant revenue share of about 14.7% in 2018, owing to increasing number of companies manufacturing sleep apnea devices in the country. Growing elderly population base prone to suffer from sleeping disorders is another chief reason escalating the business growth. Also, rising demand among the population for sleep apnea diagnosis and therapeutic devices will further augment UK market growth in the forthcoming years.
 

Indian market is estimated to witness lucrative growth of 11.3% CAGR across the forecast timeframe, due to increasing prevalence of sleep apnea and other sleep disorders. Rising disposable income in emerging countries such as India and China will further impact the business growth. Additionally, increasing rate of obesity owing to high adoption rate of sedentary lifestyle is another major factor influencing the prevalence of sleeping disorders, thus boosting product demand.  
 

Competitive Market Share

Few of the notable industry players operating in global sleep apnea devices market are BMC Medical, CareFusion Corporation, Cadwell Laboratories, Braebon Medical, Compumedics, Curative Medical, Fisher & Paykel Healthcare, GE Healthcare, ImThera Medical, Invacare Corporation, Natus Medical, Itamar Medical, Philips Healthcare, ResMed, Nihon Kohden, Somnetics International, SOMNOmedics, Weinmann Medical Devices and Teleflex among the other players. These industry players implemented various strategies such as acquisitions, mergers, new product launch and collaborations, to capture high revenue share in sleep apnea devices industry.
 

Recent industry developments:

  • In October 2017, Respicardia announced approval of Remed? System from the U.S. FDA, for the treatment of moderate to severe central sleep apnea. The product approval in country significantly enhanced the company’s market presence in the U.S. and strengthen its revenue generation stream.
     
  • In April 2017, Royal Philips announced the launch of Dream Series range, with an aim to improve sleep therapy experience for people with obstructive sleep apnea. The product launch enabled the company to strengthen its product portfolio and expand the customer base.
     

Sleep Apnea Devices Industry Background

Sleep apnea was discovered in the year 1965. It occurs when the upper airway becomes blocked repeatedly during sleep. Previously, the only effective therapy for obstructive sleep apnea was tracheostomy, that bypasses the upper airway obstruction. Launch of continuous positive airway pressure (CPAP) therapy in 1981, was a major discovery in the treatment of sleep apnea. Increasing technological developments in the sleep apnea diagnostic and therapeutic devices will further augment industry growth. Latest treatments for OSA includes Hypoglossal nerve stimulation, Expiratory Positive Airway Pressure (EPAP) among few others. Additionally, the industry is highly competitive due to the presence of established players such as Becton Dickinson, GE Healthcare, Invacare Corporation and Philips Respironics among few others. Growing investment in R&D activities to launch novel products is the major focus of companies, thus offering robust market growth opportunities in the foreseeable future.


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