Home > Pressrelease > Sleep Apnea Devices Market size to surpass $16.5 Bn by 2032

Sleep Apnea Devices Market size to surpass $16.5 Bn by 2032

  • Published Date: March 29, 2023

Sleep Apnea Devices Market size is speculated to exceed USD 16.5 billion in revenue by 2032, according to a new research report by Global Market Insights Inc.

Promising product innovation strategies adopted by major players are playing a significant role in the sleep apnea devices industry’s progression. With the introduction of digital technologies and their incorporation into sleep apnea devices, patients have access to reliable and affordable solutions. The incorporation of the latest hardware designs that offer ease of use, system reliability, and seamless integration has allowed real-time monitoring at the required stage.

To cite an instance, in February 2023, NovaResp Technologies Inc., a respiratory monitoring solutions provider, raised USD 2 million in series A funding for its AI-based CPAP algorithm to promote its integration in sleep apnea detection devices.

Escalated prevalence of sleep disorders in older people to help diagnostics devices gain traction

In 2022, the sleep apnea devices market from the diagnostics segment was worth over USD 2.5 billion as a result of the recent advancements in the field of sleep apnea devices for diagnostic purposes using a non-invasive method. Furthermore, the expanding aging population is bolstering segment share. As per the National Center for Biotechnology Information 2022 article, approximately 50% of older adults in the U.S. have chronic sleep problems.

Browse key industry insights spread across 180 pages with 331 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, Application Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:

Cost-effectiveness and personalized interventions to augment sleep laboratories & hospitals segment

The sleep apnea devices market size from the sleep laboratories & hospitals segment recorded a valuation of more than USD 3 billion in 2022 driven by the positive inclination of patients towards sleep laboratories & hospitals due to quality sleep disorders treatment and their affordability. As per a 2022 research, studies performed on patients in sleep laboratories & hospitals deliver an accurate diagnosis that allows precise & effective treatment, thereby delivering optimal treatment outcomes along with cost-effectiveness.

Furthermore, sleep laboratories are focusing on different comprehensive programs to offer personalized and professional support, fueling segment demand.

Growing prevalence of sleep apnea to aid Europe sleep apnea devices industry growth

The Europe sleep apnea devices market registered over USD 2 billion in revenue in 2022 credited to the increasing number of people suffering from sleep disorders and related co-morbidities. According to the European Commission CORDIS research, about 49 million people suffer from sleep apnea in Europe of which 40 million people never get diagnosed. Additionally, the rising adoption of a sedentary lifestyle is also contributing to the high incidence rate of these diseases in the region.

Soaring need for obstructive sleep apnea treatment to define the competitive landscape

Some of the key players in the sleep apnea devices market include ResMed Inc., Fisher & Paykel Healthcare, Natus Medical Inc., and Teleflex Inc., among others.

Authors: Rupali Swain, Subodh Kharad

Explore More on Related Topics: