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Sleep Apnea Devices Market Size
Sleep Apnea Devices Market size exceeded USD 7.5 billion in 2022. The industry is anticipated to grow at over 7.5% CAGR from 2023 to 2032 driven by supportive product innovation strategies adopted by key industry players.
The product demand is primarily fueled by increasing awareness regarding sleep apnea and other sleep disorders. The demand for early-stage diagnosis due to the rising knowledge associated with sleep disorders and their health consequences among people is expected to promote the market revenue. In addition, several government bodies, including the American Sleep Association and German Sleep Society, are initiating awareness programs to improve the quality of life for people with complex & chronic sleep disorders.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 7.5 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 7.5% |
| 2032 Value Projection: | USD 16.5 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 180 |
| Tables, Charts & Figures: | 345 |
| Segments covered: | Product, End-use, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Clinical consequences and economic impact of sleep apnea and related sleep disorders may restrain industry progression
Undiagnosed and untreated sleep disorders can result in irregular physiological processes that can cause chronic illnesses, including an increased risk for cardiovascular disease, stroke, metabolic disorders, and high blood pressure, among other things. As per recent research studies, individuals with OSA could have increased healthcare utilization and a higher chance of being readmitted to the hospital compared to the ones receiving treatment for OSAS. Nonetheless, in the long run, the continuous emphasis of manufacturers on developing efficient, inexpensive, and acceptable new therapeutic modalities is anticipated to overcome these issues.
Sleep Apnea Devices Market Analysis
Sleep apnea devices market from therapeutics segment was valued at more than USD 4.5 billion in 2022 and is likely to observe prominent growth through 2032 owing to the surging prevalence of sleep disorders as well as the escalating demand for novel therapeutics in sleep apnea management. Moreover, consistent efforts by major companies to develop technologically advanced devices to reduce inconsistencies associated with conventional devices are further fostering product adoption.
Sleep apnea devices market from the home care settings & individuals segment is projected to grow at over 8% CAGR from 2023 to 2032, propelled by the accelerating adoption and introduction of user-friendly homecare sleep apnea devices, along with spreading awareness associated with home healthcare. In a recent instance, Sunrise, a Belgium-based medical device start-up, received FDA approval for its at-home sleep apnea testing device in February 2023. These tests deliver optimum accuracy and reliability for patients in home care settings, which can detect bio-signals of Mandibular Jaw Movements (MJM) with a single point-of-care sensor placed on the chin.
North America sleep apnea devices market is anticipated to garner more than USD 6 billion by 2032, attributed to factors including the strong presence of industry players and an upsurge in the people suffering from sleep apnea and related co-morbidities. As per the Sleep Foundation 2022 data, snoring was estimated to affect 44% of men and 28% of women in the U.S. and more than 2500 sleep centers are currently certified by the American Academy of Sleep Medicine (AASM). Thus, the diagnosis and treatment of sleep disorders are set to augment business in the U.S.
Sleep Apnea Devices Market Share
Koninklijke Philips N.V., ResMed Inc., Fisher & Paykel Healthcare, Invacare Corporation, Natus Medical Inc., and Teleflex Inc., among others. are some of the key participants involved in the sleep apnea devices market engaging in strategic acquisitions and R&D programs to foster their business presence. For instance, in August 2022, ResMed Inc., a California-based medical devices firm, acquired Mementor, a Germany-based manufacturer of digital insomnia therapy solutions, Somnio. With this acquisition, the company aimed to expand its sleep devices portfolio in Martinsried and Leipzig, Germany, in line with the integration of digital solutions for insomnia.
The sleep apnea devices market research report includes in-depth coverage of the industry with estimates & forecasts in terms of USD Million from 2018 to 2032, for the following segments:
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By Product
- Therapeutics
- Airway Clearance System
- Adaptive Servo-ventilation (ASV)
- Positive Airway Pressure (PAP) Devices
- Oral Appliances
- Oxygen Devices
- Others
- Diagnostics
- Actigraphy Systems
- Polysomnography (PSG) Device
- Respiratory Polygraph
- Sleep Screening Devices
End-use
- Home Care Settings & Individuals
- Sleep Laboratories & Hospitals
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Poland
- Netherlands
- Sweden
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Thailand
- Philippines
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- MEA
- South Africa
- Saudi Arabia
- UAE
- Egypt
- Israel
- Nigeria
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