New York, USA, March 13, 2023 (GLOBE NEWSWIRE) -- Sleep Apnea Device Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Sleep apnea devices market Information By Type, End User, and Region - Forecast till 2030" the market size was valued at USD 5.5 billion in 2022 and is projected to grow from USD 5.9 Billion in 2023 to USD 8.6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.52% during the forecast period (2023 - 2030).

Market Dynamics

A few of the key market factors impacting the growth of the sleep apnea market are rising public awareness, an ageing population, the prevalence of the disorder, and the demand for better OSA diagnosis and treatment.

According to research from Sleep Science Resource, LLC, obstructive sleep apnea (OSA), which affects 18 million Americans, is considered to afflict 1 in 15 people in the nation. The prevalence of obesity disrupted sleep patterns, and high levels of stress has increased as a result of people's sedentary lives.

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Report Scope:

For instance, according to the article written by American Heart Association, Inc., several cross-sectional studies have revealed that severe sleep apnea is frequent in 40% of the obese population and that 70% of OSA patients are fat. The European Respiratory Society's study also revealed that between 13.0% and 32.0% of Europe's elderly population experienced sleep apnea. Due to increased rates of obesity and other lifestyle disorders, as well as rising sleep apnea diagnostic rates in both industrialised and developing countries, a significant patient pool must be treated or managed for the illness. This is encouraging market expansion, along with an increase in sleep clinics and sleep technologists globally.

There is also a substantial number of undiagnosed patients, especially in developing countries. By various efforts like "sleep awareness week," numerous NGOs and governmental organisations are working on boosting the awareness and diagnosis rates among these people. Furthermore, it is anticipated that this will encourage market expansion in the ensuing years. The market Growth for sleep apnea devices is therefore being driven by this factor.

The shift in patients' preferences for technologically advanced devices has also considerably facilitated the development of novel treatments for sleep apnea. For instance, the use of oral devices like the mandibular advancement device (MAD) for OSA treatment has increased as a result of patient dissatisfaction with CPAP machines.

Also, according to data released by NCBI based on numerous research conducted in different countries, it is thought that the compliance rate for CPAP machines among users has declined by up to 50.0%. Oral appliances, which have proven to be effective and offer comfort to patients throughout the treatment of the illness, were introduced to the market as alternatives as a result. Together with this, the actometer is very well-liked by sleep clinics due to its non-invasiveness and reduced cost compared to standard polysomnography equipment (PSG). As a result of escalating non-adherence for CPAP equipment and expanding desire for reasonably priced diagnostic tools, patients are increasingly resorting to mouth appliances and actometers for effective management of sleep apnea.

Thus, it is projected that this factor will increase global revenue for sleep apnea devices.

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Competitive Outlook

Key Companies in the sleep apnea devices market includes

• ResMed
• LivaNova
• Nihon Kohden
• GE Healthcare
• Natus Medica
• Cadwell
• Curative Medical
• Koninklijke Philips

Sleep Apnea Devices Market Segmentation

Diagnostic and therapeutic devices are included in the segmentation of the sleep apnea devices market based on type. Due to a growth in the number of diagnosed patients seeking treatment at sleep clinics, particularly in wealthy countries, which includes CPAP therapy, the therapeutic devices sector held the majority share in 2022 according to the data on the sleep apnea devices market. According to KOL interviews, CPAP is the most common form of treatment for these patients, and around 95% of Persons with diagnosis undergo treatments.

Home Care Settings and Sleep Labs & Hospitals are two application-based segments of the sleep apnea devices market.

The market for sleep apnea devices was dominated by the home care settings sector in 2022, and this segment is anticipated to increase at the fastest rate from 2022 to 2030. The market's players are focusing on creating cutting-edge, portable devices that patients undergoing treatment for the condition can use at home. This and the growing trend towards treating OSA at home, notably in countries like the United States, the United Kingdom, Germany, and Japan, among others, are driving up the need for these devices in homecare and other settings.

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Sleep Apnea Devices Market Regional Outlook

The analysis breaks down the sleep apnea devices market by region into North America, Europe, Asia-Pacific, and the Rest of the World.

The market for sleep apnea devices in North America is projected to reach USD 2.5 billion in 2022 with a share of roughly 45.80% and increase at a substantial CAGR over the research period. The greater prevalence of disease and the favourable reimbursement policies, which have been crucial in the region's greater uptake of such devices, are to blame for North America's dominance. According to the American Academy of Sleep Medicine (AASM), 3.0%-7.0% of men and 2.0%-5.0% of women in the US have sleep apnea.

The second-largest market share belongs to Europe in the sleep apnea device industry. This can be attributed to rising diagnostic testing demand, increased awareness of sleep apnea, favourable reimbursement environments, and expanding device penetration in this field. For instance, ProSomnus, a pioneer in precision medical devices for the management of OSA, declared on September 15, 2022, that the ProSomnus EVOTM Sleep and Snore Device is now officially covered by the German public health insurance system. Moreover, the UK sleep apnea devices market had the biggest market share and Germany had the quickest rate of growth in the area.

The market for sleep apnea devices in the Asia Pacific region is anticipated to expand at the quickest CAGR between 2022 and 2030 as a result of the rising prevalence of lifestyle diseases like cancer, diabetes, hypertension, and chronic respiratory ailments. Almost 227 million people in the Asia Pacific have been diagnosed with type 2 diabetes, according to the OECD iLibrary entry on Asia/Pacific 2020. Moreover, the region's fastest growing market for sleep apnea devices was India, while China retained the greatest market share.

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