Report Overview

Global Sleep Apnea Devices Market Forecast and Trends

One of the key factors influencing market growth is the growing prevalence of obstructive sleep apnea (OSA) among the worldwide population. Also, growing awareness regarding the target condition, early disease diagnosis, rising patient adherence for positive airway pressure devices, and growing medical coverage for sleep apnea devices are further expected to drive the market growth over the forecast period.

Moreover, the entrance of technologically advanced products by market participants directed at improving patient safety, comfort, and adoption is expected to improve treatment rates, especially in developed countries. For example, North America is one of the most organized markets for sleep apnea devices, due to high product adoption combined with government initiatives intended at reducing the healthcare burden associated with sleep apnea. Also, the availability of reimbursement policies that reduce the out of pocket expenditure is one of the main factors driving the global sleep apnea devices market growth.

However, low awareness linked to sleep disorders in lower and middle-income nations and severe compliance standards set by third-party payers that leads to limited reimbursement is obstructing the market growth. Also, the inconvenience caused by sleep apnea devices to the wearer while sleeping and the high cost of these devices are also restricting their adoption in developing and underdeveloped countries.

Global Sleep Apnea Devices Market: Overview

Sleep apnea is a potentially bad sleep disorder which occurs when a person's breathing during sleep is disturbed. People with uncontrolled sleep apnea avoid breathing repeatedly, often hundreds of times throughout the night, throughout their sleep. There are two forms of apnea for sleep: obstructive, and central. The more severe of both is obstructive sleep apnea (OSA). Obstructive sleep apnea is distinguished by frequent periods of total or partial blockage of the upper airways during sleep. The diaphragm and chest muscles function faster during an apnea event, as the urge to expand the airway rises. Normally breathing returns with a sudden scream, or body shake. These events can interfere with sound sleep, decrease the flow of oxygen to vital organs, and lead to heart rhythm irregularities.

Growth Drivers

Large number of Undiagnosed Sleep Apnea Patients

Sleep apnea is a very prevalent disorder that increases cardiovascular and metabolic disease-related morbidity and mortality, contributes to the risk of the motor vehicle and occupational accidents, and reduces occupational productivity. The repeated episodes of upper airway obstruction that characterize OSA have been attributed to both anatomic loads (e.g., retrognathia, micrognathia, excess pharyngeal mucosal tissues, large parapharyngeal fat pads) on the upper airway and impairments in neuromuscular responses. Potential treatments for OSA can be considered in light of the mechanisms identified to be important in its pathogenesis.

Global Sleep Apnea Devices Market: Product

Based on product, the global Sleep Apnea Devices market segmented into Therapeutic, and Diagnostic. The therapeutic devices product type segment is expected to dominate the market due to increasing disease awareness among patients, availability of advanced technological products, and growing market competition. For instance, Philips Respironics introduced DreamStation Go, which is a travel-friendly positive airway pressure (PAP) device for the active patient population. In March 2019, ResMed acquired HB Healthcare to strengthen its distribution network in the Asia Pacific. These initiatives adopted by companies to be at the lead are driving the growth of the segment.

Global Sleep Apnea Devices Market: End-Use

Based on End-Use, the global Sleep Apnea Devices market segmented into Sleep Laboratories and Hospitals, and Home Care Settings/Individuals. Home Care Settings/Individuals segment is expected to grow at significant rate due to an increase in the number of sleep disorder patients globally. An increasing number of undiagnosed sleep apnea sufferers, the developing reimbursement scenario for these sleep devices, and the increase in usage of oral appliances are some of the key factors which are anticipated to fuel the market growth during the projected period.

Global Sleep Apnea Devices Market: Regional Insights

Based on region, the global Sleep Apnea Devices market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global sleep apnea devices market during the forecast period. Increasing awareness of sleep apnea, large patient pool, and presence of international manufacturers are expected to strengthen the market share of this region. Furthermore, the number of therapeutic tests conducted in the North America region for confirming the presence of sleep apnea is rapidly growing as a large number of people are more concerned regarding the health risks emerging out of this condition, thus propelling the market growth over the forecast period. 

Competitive Landscape

The major players in the global Sleep Apnea Devices are Curative Medical Inc., Philips Respironics, ResMed, Fisher & Paykel Healthcare, Cadwell Laboratories, and Invacare Corporation, ResMed, Philips Respironics  and other prominent players.

Recent Development

Ø  April, 2020: Royal Philips, a global leader in health technology, announced that it can help general practitioners and healthcare institutions manage the increased patient flows resulting from the COVID-19 outbreak through a dedicated and scalable telehealth solution that facilitates the use of online screening, follow-up questionnaires and monitoring, and external call center collaborations. It aims to prevent unnecessary visits to general practitioners and hospitals and enables the remote monitoring of the vast majority of COVID-19 patients that are in quarantine at home.

Ø  March, 2020: Invacare Corporation announced the launch of the Invacare® AVIVA™ FX Power Wheelchair, setting a new standard for the front-wheel drive power mobility market. The power wheelchair will be available for order on Friday, March 6, 2020.

By Product

Ø  Therapeutic Devices

Ø  Positive Airway Pressure (PAP) Devices

Ø  Oral Devices

Ø  Nasal Devices

Ø  Chin Straps

Ø  Diagnostic Devices

Ø  Actigraphs

Ø  Polysomnography (PSG) Device

Ø  Respiratory Polygraphs

Ø  Pulse Oximeters

By End-Use

Ø  Sleep Laboratories and Hospitals

Ø  Home Care Settings/Individuals

By Region:  

Ø  North America

Ø  Europe

Ø  Asia Pacific

Ø  Latin America

Ø  Middle East & Africa

The objective of the Study:

Ø  To analyze and forecast the global Sleep Apnea Devices Market size of the market in terms of value.

Ø  To examine the careful market segmentation and forecast the market size, in terms of value, based on the region by segmenting.

Ø  The Global Sleep Apnea Devices Market segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, Middle East & Africa and their leading countries.

Ø  To outline, categorized, and forecast the global Sleep Apnea Devices Market based on the product and end-use.

Ø  To examine competitive developments like technological advancement, services, and regulative framework within the global Sleep Apnea Devices Market.

Ø  To highlight the impact analysis of the factors affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

Ø  To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.