Sleep Apnea Devices Market worth over $11.6bn by 2027

Sleep Apnea Devices Market size is set to surpass USD 11.6 billion by 2027, according to a new research report by Global Market Insights, Inc.
 

Growing technological improvements in sleep apnea devices such as sensor systems, widespread application of telemedicine, and automatically adjusting machines among others are some of the key factors increasing the penetration of sleep apnea devices. The rising prevalence of sleep apnea along with surging awareness pertaining to sleep apnea and other sleep ailments are some of the factors anticipated to drive the market growth. In the U.S., at least 25% of all individuals and elderly population report that they don’t get enough sleep. This percentage almost doubles in specific states, as per the Centers for Disease Control and Prevention, thereby enhancing the market expansion.

 

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Growing demand for portable, efficient, and superior sleep apnea devices will flourish the market demand

Increasing incidences of sleep apnea disorders such as chronic insomnia, obstructive sleep apnea, and irregular sleep-wake rhythm among others will propel the sleep apnea devices market progression. Hence, demand for portable, efficient, and superior sleep apnea devices to treat these disorders is estimated to surge the business revenue. For instance, sleep apnea device that comprises different travel-friendly features including built for daily use, USB charging port, data connectivity is widely preferred due to its portability. The adoption rate of innovative sleep apnea devices is rising at a significant pace owing to multiple advantages such as helps patients keep breathing overnight, allowing the patient to take control of continuous positive airway pressure therapy, and offer a sleep progress report to provide insights.
 

For instance, Apnea Guard helps to decrease obstructive sleep apnea symptoms recognized post-operatively and uses a combination of tongue size & gender to select phenotypical features. The latest lightweight portable sleep apnea devices are integrated with pressure compensating sensors that can compensate altitude-related drops in atmospheric pressure, thereby increasing its acceptance. Furthermore, a large patient pool and the presence of international players in the market are poised to strengthen the launch of efficient and superior sleep apnea devices worldwide.
 

Browse key industry insights spread across 200 pages with 231 market data tables & 14 figures & charts from the report, “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, Sleep Screening Devices}), By End-use (Home Care Settings & Individuals, Sleep Laboratories & Hospitals), COVID19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/sleep-apnea-devices-market-report
 

Increase in the acceptance of sleep apnea diagnosis devices will fuel the market value

Global Sleep Apnea Devices Market, By Product

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The diagnostics segment in the sleep apnea devices market is predicted to witness 7.4% growth rate and will reach USD 4.02 billion by 2027 owing to the benefits such as to monitor human activity cycles by using a non-invasive method, records the degree of limb movement activity, and provides a graphical summary of sleep patterns over time among others. The prevalence of sleep disorders is higher among the geriatric population worldwide that rises the risk for memory loss, headaches, depression, etc.
 

Sleep apnea treatment options are continuously in development with the introduction of innovative diagnostic devices such as novel pulse oximeter, actigraphy systems, and respiratory polygraph among others. Moreover, the use of sleep apnea diagnostic instruments is one of the recommended and successful options to screen sleep ailments in individuals with chronic insomnia.
 

Availability of advanced technologies and skilled professionals in sleep laboratories & hospitals is amplifying the industry expansion

The sleep laboratories & hospitals segment in the sleep apnea devices market accounted for USD 2.67 billion in 2020 led by the sleep study performed in sleep laboratories & hospitals provide an accurate diagnosis that allows effective treatment and monitor people response to a specific treatment. Polysomnography is a widely used comprehensive sleep study test that is preferably performed at hospitals or sleep centers. This test records individuals sleep stages and cycles to identify sleep patterns. These facilities offer an integrated program with professional’s support, facilitate expert analysis of results, and as required provide medical equipment. As a result, well-equipped sleep laboratories & hospitals will be preferred by the patients. Additionally, the increasing patient inflow has augmented the product adoption rate across the globe, thereby enhancing the industry demand.
 

Growing prevalence of sleep apnea in Japan is slated to spur the industry growth

Japan region held the largest share in the Asia Pacific sleep apnea devices market and exceeded USD 500 million in 2020 on account of the rising prevalence of sleep apnea and related co-morbidities among others. As per the research article published in 2021, circadian rhythm sleep-wake disorders and insomnia are highly prevalent in visually impaired individuals in Japan. Furthermore, according to the Japan National Health and Wellness Survey, around half of people with type 2 diabetes in Japan have sleep-related diseases. Hence, in Japan the demand for novel sleep apnea diagnosis and therapeutic devices is growing at a significant pace.
 

The increasing incidence of sleep-related ailments needs the use of sleep apnea instruments that are commonly connected with implications that become more prevalent in the population with a rise in age including obesity, anatomical abnormalities, and family history. In June 2018, the Pharmaceuticals and Medical Devices Agency (PMDA) in Japan announced the approval for hypoglossal nerve stimulation devices, used to decrease the occurrence of obstructive sleep apnea. In addition, the future of the market in Japan is anticipated to be favorable due to the huge demand, size of its elderly population, and development of innovative technologies among others. Thus, with a focus of industry players on business development in Japan, the region will hold key revenue in the global sleep apnea devices market.
 

Companies are focusing on strategies and launch of innovative products to expand customer base

Some of the major companies operating in the sleep apnea devices market are 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., and Itamar Medical Ltd. among others. These participants are focusing on novel product launches and strategic collaborations to progress in the market.
 

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