Sleep Apnea Devices Market

Report Overview

According to the deep-dive market assessment study by Growth Plus Reports, the Global Sleep Apnea Devices Market was pegged at US$ 7.3 billion and is expected to register a revenue CAGR of 6.5% to reach US$ 12.86 billion by 2030. 

Market Fundamentals

Sleep apnea is a sleep disorder in which a person's breathing repeatedly stops and starts. There are three main sleep apnea types: obstructive sleep apnea, central sleep apnea, and complex sleep apnea syndrome. Sleep apnea symptoms include long snoring, gasping for air during sleep, morning headaches, difficulty staying asleep, excessive daytime sleepiness (hypersomnia), and so on. If left untreated, sleep apnea can lead to several health problems, including hypertension, stroke, arrhythmias, and cardiomyopathy. Various treatment options for sleep apnea include conservative treatments, mechanical therapy, mandibular advancement devices, hypoglossal nerve stimulator, and surgery.

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Market Dynamics

Major factors attributed to the revenue growth of the global sleep apnea devices market include growing awareness, a rising undiagnosed sleep apnea patient pool, an increasing geriatric population, and an increasing number of patients suffering from obesity and hypertension. Moreover, the increasing use of artificial intelligence (AI) to improve devices and new product launches are also expected to boost the revenue growth of the global sleep apnea devices market. However, the high cost of CPAP,  extended waiting periods, and device recall are expected to hinder the market revenue growth to some extent.

Market Ecosystem

The global sleep apnea devices market is analyzed from three perspectives: type, end user, and region. 

Sleep Apnea Devices Market by Type

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Based on type, the global sleep apnea devices market is segmented into diagnostic and therapeutic devices. 

The diagnostics device segment is further sub-segmented into polysomnography devices, oximeters, home sleep testing devices, actigraphy systems, and sleep screening devices. 

The therapeutic devices segment is sub-segmented into positive airway pressure (PAP) devices [includes automatic positive airway pressure (APAP) devices, bilevel positive airway pressure (Bi-PAP) devices, and continuous positive airway pressure (CPAP) devices], facial interfaces, oral appliances, accessories, and other therapeutic devices. 

The therapeutic devices segment accounts for the largest revenue share of the global sleep apnea device market. The large revenue share of this segment can be attributed to several factors, including an increasing patient pool, rising awareness, more significant usage of these devices, and higher new technologies.

The most recently approved technology is adaptive servo-ventilation (ASV). The adaptive servo-ventilation system has better outcomes than other positive airflow devices in treating complex sleep apnea. 

Sleep Apnea Devices Market by End-user

Based on end-users, the global sleep apnea devices market is segmented into hospitals & sleep laboratories, and home care settings. 

The hospitals & sleep laboratories segment accounts for the largest revenue share of the global sleep apnea device market. An increasing number of sleep labs and the rising number of diagnostic tests are the major factors driving the revenue growth of this segment. 

The home care segment is expected to register the fastest revenue growth in the global sleep apnea devices market. The rise in complaints related to the discomfort at the sleep centers, lack of a home-like environment, and an increase in the simplification of the devices is augmenting the demand for home-care devices which is driving the revenue growth of this segment.   

Sleep Apnea Devices Market by Region

Based on region, the global sleep apnea devices market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. 

North America accounts for the largest revenue share in the global sleep apnea market. The large number of patients suffering from sleep disorders, favorable reimbursement policies, and increasing investments in developing sleep apnea devices are the major factors driving the revenue growth in this region. Moreover, the presence of key players focused on developing and launching new sleep apnea devices is also driving the market revenue growth in this region. 

Competitive Landscape

The prominent players operating in the global sleep apnea devices market are:

• ResMed Inc.
• Becton, Dickinson & Company
• Koninklijke Philips N.V.
• Nihon Kohden Corporation
• Invacare Corporation
• Fisher & Paykel Healthcare Limited
• Löwenstein Medical Technology GmbH + Co. K.G.
• Natus Medical Incorporated
• BMedical Pty Ltd.
• BMC Medical Co., Ltd.
• SomnoMed GmbH
• Compumedics Limited.
• Oventus Medical Ltd.
• Somnetics International, Inc.

Strategic Developments 

• In July 2022, CPAP Store USA, a leading authorized dealer in the U.S., introduced Transcend Micro, which claimed to be the world's most innovative, smallest, and lightest travel CPAP machine, produced by Somnetics International.
• In February 2021, GoPAPfree, a home-care provider of oral appliance therapy for obstructive sleep apnea, launched a new product O2Vent Optima. The device uses integrated airway technology and helps to increase the response rate to sleep apnea therapy by 40% more than a standard mouthguard.
• In April 2020, Cadwell Industries, Inc. launched a next-generation ApneaTrak home sleep apnea testing (HSAT) device. This device has three models that help meet multiple levels of clinical needs to diagnose sleep apnea and test the efficacy of treatments.

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