Sleep Apnea Devices Market Value is expected to surpass US$ 14.7 Bn by 2028 | Exclusive Report by Tr

Author: Mansi Rajmane

The global sleep apnea devices market was valued at US$ 7 billion in 2020, projected to grow at a CAGR of 8.5% from 2021 to 2028, reaching US$ 14.7 billion by 2028.

Amid the COVID-19 pandemic, multinational and emerging companies in the industry are restructuring supply chains to reduce reliance on specific countries. Lack of insurance coverage for obstructive sleep apnea (OSA) and related devices hinders market growth in developing nations like India.

Investment in marketing and advertising by med-tech firms can increase patient acceptance of sleep apnea devices, potentially prompting insurance companies to provide coverage for OSA and associated conditions.

Key Driver:

  • Obstructive sleep apnea (OSA) is a common condition where breathing stops or decreases during sleep, leading to fragmented sleep and symptoms like morning headaches and daytime tiredness.
  • Although it affects people of all ages, OSA is more prevalent in those over 60, with an estimated incidence between 2% and 14%.
  • OSA is associated with various health issues including hypertension, coronary artery disease, cardiac arrhythmias, and depression.
  • Obesity is a significant risk factor for OSA and contributes to its increasing prevalence.

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

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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.

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)

Future Outlook:

Looking ahead, the sleep apnea devices market is poised for continued growth, driven by increasing awareness, technological advancements, and expanding healthcare infrastructure. With a focus on improving patient outcomes and enhancing user experience, the market is expected to witness significant innovation and investment in the coming years.

Key Market Study Points:

  • Evaluation of market size and growth trends
  • Analysis of market segmentation by various parameters
  • Assessment of regional dynamics and emerging markets
  • Identification of key market drivers and challenges
  • Exploration of prevailing market trends and future outlook
  • Examination of competitive landscape and recent developments

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