Sleep Apnea Devices Market size worth over $11.6 Bn 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 will drive the sleep apnea devices market growth. In the U.S., at least 25% of all individuals and elderly population report that they do not get enough sleep. This percentage almost doubles in specific states, as per the Centers for Disease Control and Prevention, thereby enhancing the industry growth.

 

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According to the recently published article, currently around 1 billion people suffer from obstructive sleep apnea (OSA) disorder across the globe. Furthermore, obesity is considered a key risk factor for the progression of sleep apnea that is expected to boost sleep apnea devices market expansion. For instance, according to the World Health Organization, around 1.9 billion adults and old age people were overweight in 2016. Accordingly, the growing adoption of sleep apnea devices to treat sleep-related disorders will upsurge the use of sleep apnea devices.
 

Global Sleep Apnea Devices Market, By Product

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Growing demand for portable, efficient, and superior sleep apnea devices

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 demand. 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.
 

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), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, India, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), 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 adoption of sleep apnea diagnosis devices

The diagnostics segment in the sleep apnea devices market is anticipated to expand at 7.4% CAGR to reach USD 4 billion revenue 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. Furthermore, the prevalence of sleep disorders is higher among the geriatric population worldwide that rises the risk for memory loss, headaches, depression, etc. For instance, as per the National Center for Biotechnology Information, around 40-70% of aged people have chronic sleep issues.
 

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. For instance, in the U.S., around 25% of people are diagnosed with acute insomnia every year. Thus, manufacturers in the sleep apnea devices market are focusing on improving traditional diagnostic methods and provide alternatives that are more comfortable, accessible, and economical. Additionally, as per the research studies, obstructive sleep apnea is a common disorder, affecting more than 2% of women and 4% of men residing in Western countries.
 

Availability of advanced technologies and skilled professionals in sleep laboratories & hospitals

The sleep laboratories & hospitals segment held a considerable sleep apnea devices market share in 2020, valued at more than USD 2.6 billion. The majority market share of the segment is due to 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. Furthermore, 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.
 

Growing prevalence of sleep apnea in Japan will spur the market revenue

Japan sleep apnea devices market value was around USD 500 million in 2020, attributed to 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.
 

Moreover, the surging 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.
 

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

Key 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 players are focusing on novel product launches and strategic collaborations to progress in the sleep apnea devices market. For instance, in March 2021, ResMed, Inc. announced the launch of the onesleeptest, an at-home sleep test by Ectosense in India. This test assists physicians and patients diagnose people suffering from undiagnosed sleep apnea. This launch of innovative products helped the company to strengthen its product portfolio and increase growth potential in the future.
 

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