Sleep Apnea Devices Market - Industry Trends, Market Size, Share And Outlook Forecast To 2028

Rising incidence of chronic conditions and increasing geriatric populace are expected to drive global market growth between 2023 and 2028

PUNE, MAHARASHTRA, INDIA, January 19, 2023 /EINPresswire.com/ -- The global sleep apnea devices market size is expected to reach USD 7216.63 million in 2028 and register a steady revenue CAGR of 4.34% during the forecast period. Key factors such as increasing incidence of lifestyle-associated diseases, obesity, poor sleep patterns, cardiovascular diseases, elevated stress, and steady increase in the number of product approvals are expected to surge market revenue growth during the forecast period.

Sleep apnea is a serious sleep disorder in which a person’s breathing repeatedly stops and starts. Obstructive sleep apnea, central sleep apnea, and complex sleep apnea syndrome are common types of sleep apnea that result in loud snoring, gasping for air during sleep, morning headache, insomnia, hypersomnia, awakening with a dry mouth, and irritability. Over years, there have been rapid advancements in sleep apnea treatment and devices. Different types of oral appliances, actigraphy systems, and oxygen devices are available across hospitals, sleep laboratories, and clinics. Many manufacturers are heavily investing in research and development activities to develop advanced sleep apnea devices to cater to rising sleep disorders.

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Factors such as rising adoption of sleep apnea devices for home care settings, growing awareness about early detection and diagnosis, supportive government initiatives to promote sleep apnea devices, and increasing investments in R&D activities are expected to drive global market growth during the forecast period.

However, high cost of sleep apnea devices, rising number of product recalls due to technical deformities, stringent regulatory norms for product approvals, and insufficient funds to deploy latest devices in many hospitals and healthcare centers are expected to hamper overall market growth to a certain extent going ahead.

Therapeutic Segment to Account for Largest Revenue Share:

The therapeutic segment is expected to account for largest revenue share between 2021 and 2028 owing to large patient pool, rapid advancements in therapeutic devices, increasing number of diagnosed people undergoing treatment for sleep apnea, and rising investments in developing more advanced devices.

Home Care/Individuals Segment To Register Fastest Revenue CAGR:

The home care/individuals segment is expected to register fastest revenue CAGR during the forecast period. This can be attributed to rising geriatric population, growing inclination towards home care settings, rising availability of novel portable devices for home care use, and increasing investments in developing more user-friendly, portable, and affordable devices.

North America to Lead In Terms of Revenue Share:

North America is expected to lead in terms of revenue share during the forecast period owing to increasing prevalence of sleep apnea, presence of well-established healthcare centers and research facilities, growing awareness about ill effects of untreated sleep apnea, and rising availability of various types of sleep apnea devices.

Sleep Apnea Devices Market Report Highlights:

• Asia Pacific market revenue is expected to expand at a rapid revenue CAGR over the forecast period owing to increasing prevalence of chronic disorders, poor sleeping patterns, rising availability of advanced sleep apnea devices, and rising awareness about importance of early detection and diagnosis of sleep apnea.
• In August 2021, ResMed announced the launch of a new positive airway pressure device, AirSense 11 in the US for people affected with sleep apnea. It is equipped with a personal therapy assistant that provides step-by-step tutorials through myAir app.
• In September 2019, Philips announced the launch of NightBalance, a prescription sleep position therapy device for people suffering from Obstructive Sleep Apnea (OSA). This device comes with wireless connectivity and a mobile app to track sleeping patterns. The device sends gentle vibrations to encourage patients to change their sleeping positions to avoid apnea.

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Sleep Apnea Devices Market By Company:

• Philips
• Lowenstein Medical
• ResMed
• Fisher and Paykel Healthcare
• Compumedics
• Watermark Medical
• Somnomed
• BMC Medical
• Curative Medical
• Huanan Medical
• Contec Medical
• Whole You
• Drive Devilbiss Healthcare

The global sleep apnea devices market has been segmented based on type, application, and region:
Sleep Apnea Devices Market Segment by Type:

• Therapeutic Devices
• Diagnostic Devices

Sleep Apnea Devices Market Segment by Application:

• Sleep Laboratories and Hospitals
• Home care/Individuals

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Sleep Apnea Devices Market Segment by Region:

• North America (United States, Canada)
• Europe (Germany, France, UK, Italy, Russia, , Rest of Europe)
• Asia Pacific (China, Japan, South Korea, , India, Australia, Taiwan, Indonesia, Malaysia, Philippines, Vietnam)
• Latin America (Mexico, Brazil, Rest of Latin America)
• Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of MEA)

Key Reasons to Purchase:

• Estimates 2023 to 2028 sleep apnea devices market current market trends and development trends
• Market dynamics along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the sleep apnea devices market
• Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
• Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
• Brief about impact of COVID-19 on the global market

Key Questions Addressed:

• What are some of the key challenges that the global market is expected to face during the forecast period?
• Based on application, which segment is expected to account for largest revenue share in the global market?
• Who are the leading companies operating in the global market?
• Which region is expected to account for largest revenue share in the global market during the forecast period?
• Which region is expected to lead in terms of sleep apnea devices production?
• What is the expected market size of the global sleep apnea devices market over the forecast period?

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