Sleep Apnea Devices Market Value to Reach US$ 14.7 Billion by 2028, Transparency Market Research, Inc.

Posted on 2024-03-21 by Transparency Market Research in Healthcare // 0 Comments

Wilmington, Delaware, United States, 2024-Mar-21 — /EPR Network/ — Transparency Market Research Inc. –

Transparency Market Research’s recent report on the global sleep apnea devices market, covering the historical period 2017-2028 and forecast period 2021-2028, highlights that the increasing demand for home sleep apnea tests (HSATs) is expected to be a key driver for the market’s growth in the forecast period.

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The global sleep apnea devices market was valued at US$ 7 billion in 2020 and is projected to grow at a CAGR of 8.5% from 2021 to 2028, reaching a value of US$ 14.7 billion by the end of 2028. Analysts observe that multinational companies and emerging players are restructuring their supply chains to reduce reliance on a few countries due to the COVID-19 pandemic. However, lack of insurance coverage for obstructive sleep apnea (OSA) and related devices hinders market growth in developing economies like India. To address this, companies should invest in marketing to increase device acceptance, potentially prompting insurance companies to cover sleep apnea and its associated conditions.

Sleep Apnea Devices Market: Competition Landscape

ResMed, Inc.,BMC Medical Co., Ltd.,Braebon Medical Corporation,Compumedics Limited,Devilbiss Healthcare LLC,Fisher & Paykel Healthcare Limited,Koninklijke Philips N.V.,Löwenstein Group,Oventus Medical,Panthera Dental,SomnoMed Limited,Whole You (Subsidiary of Mitsui Chemicals, Inc.), among others

Market Segmentation:

By Diagnostic Device
- Actigraphy Systems
- Polysomnography (PSG) Devices
- Respiratory Polygraph
- Single-Channel Screening Devices (Pulse Oximeters)

By Therapeutic Device
- Airway Clearance Systems
- Adaptive Servo-Ventilation (ASV)
- Positive Airway Pressure (PAP) Devices
- Oral Appliances
- Oxygen Devices
- Others

Key Developments:

In March 2020, Northwell Health (US) used 3D printed parts to convert BiPAP machines, which are generally used to treat sleep apnea or COPD, into ventilators
In June 2021, Oventus Medical and Aeroflow Healthcare entered into a collaboration agreement to bring Oventus’ obstructive sleep apnea (OSA) treatment products, notably O2Vent Optima, directly to customers through sleep clinics in the U.S.
In February 2021, Oventus Medical introduced 02Vent Optima, a customizable oral appliance therapy device, which, through GoPAPfree, provides an alternative to CPAP therapy in the U.S.

A rise in Prevalence of Obstructive Sleep Apnea Disorder (OSA): Key Driver

Obstructive sleep apnea is a prevalent sleep disorder characterized by interruptions or reductions in breathing during sleep, leading to fragmented sleep patterns.
Symptoms of obstructive sleep apnea include morning headaches and daytime lethargy due to restless sleep.
While it can affect people of all ages, obstructive sleep apnea is more common in individuals over the age of 60.
The incidence of obstructive sleep apnea is estimated to be between 2% and 14%, although precise figures are not known.
Obstructive sleep apnea is associated with various health issues such as hypertension, coronary artery disease, cardiac arrhythmias, and depression.
Obesity is a major risk factor for obstructive sleep apnea, and its increasing prevalence contributes to the rise in the disorder’s prevalence.

Regions Covered:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

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Future Outlook:

The future of the sleep apnea devices market looks promising with technological innovations and increasing awareness driving market growth. As healthcare systems worldwide emphasize preventive care and patient-centric approaches, the demand for effective sleep apnea devices is expected to soar.

Key Market Study Points:

Market size and growth projections
Regional analysis highlighting growth opportunities and challenges
Market segmentation by service type, sourcing type, application, industry vertical, and region
Competitive landscape profiling key players and their strategies
Recent developments and innovations in sleep apnea devices

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About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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