Number of pages: 100 | Report Format: PDF | Published date: 06 October, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Report Attribute |
Details |
Market size value in 2021 |
US$ 7.3 billion |
Revenue forecast in 2030 |
US$ 12.86 billion |
Growth Rate |
CAGR of 6.5% from 2022 to 2030 |
Base year for estimation |
2021 |
Forecast period |
2022-2030 |
Segments covered |
Type, End User, and Region. |
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
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:
Strategic Developments
The rising undiagnosed sleep apnea patient pool, an increasing geriatric population, and lifestyle changes, resulting in a rising rate of people with obesity and hypertension are the major factors driving the revenue growth of the global sleep apnea market.
The high cost of CPAP devices, extended waiting periods, device recalls, and the discomfort caused due to devices are the major factors restraining the revenue growth of the global sleep apnea device market.
ResMed Inc., Koninklijke Philips N.V., Fisher & Paykel Healthcare Limited, Löwenstein Medical Technology GmbH + Co. K.G., and Natus Medical Incorporated are the key companies operating in the global sleep apnea devices market.
The global sleep apnea devices market size is estimated to be US$ 12.86 billion in 2030.
The Asia Pacific is expected to register the fastest revenue growth during the forecast period and can be considered the key growth region in the global Sleep Apnea Devices market.
*Insights on financial performance is subject to availability of information in public domain
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