ID: MRFR/MED/1529-CR | March 2021 | Region: Global | 159 pages
Global Sleep Apnea Device Market is expected to register a CAGR of 6.52% during the assessment period of 2020 to 2027, to reach USD 7,683.72 Million by 2027.
Technological advancements in sleep apnea devices are driving the growth of this market. Technological advancements enable the manufacturers to develop the product, providing patient safety, product adaptation, and treatment comfort. Key players are developing products that are more comfortable for the patients. For instance, Philips Respironics launched ‘DreamStation Go,’ a travel-friendly Positive Airway Pressure (PAP) device for the active patient population in April 2017. DreamStation Go is an ultra-portable Positive Airway Pressure (PAP) therapy system designed for frequent travelers. Patients can rely on its unique blend of packability, connectivity, and powerful, convenient features. Similarly, in October 2017, Respicardia announced the approval of Remed System from the US FDA for the treatment of moderate-to-severe central sleep apnea. The Red System monitors the patient’s respiratory signals during sleep and stimulates the nerve to move the diaphragm and restore normal breathing. These technologically advanced devices are more acceptable to patients with sleep apnea, and this trend is expected to continue during the forecast period.
Global Sleep Apnea Device Market, By Type 2019 (%)
Source: MRFR Analysis
Global Sleep Apnea Device Market is segmented based on Type and End User.
The global sleep apnea device market based on type has been segmented into diagnostic and therapeutic devices. Diagnostic devices are further classified into polysomnography devices, home sleep testing devices, pulse oximeters, sleep screening devices. Polysomnography devices dominated the market in 2019. The high prevalence of sleep apnea and the growing geriatric population which is prone to respiratory disorders, are the key factors creating a huge demand for diagnostic devices. As per the report presented by ResMed at the American Thoracic Society (ATS) 2018 International Conference, OSA afflicted more than 936 million people worldwide in 2018, which is almost 836% more than the affected population 2007. Thus, rising number of people suffering from this disorder has resulted in a growing demand for sleep apnea diagnostic devices.
Polysomnography devices are used to monitor sleep stages and cycles to identify when sleep patterns are disrupted and why. Increasing number of product development and launch is also propelling the growth of this segment. For instance, in September 2020, Nihon Kohden a leading manufacturer, developer and distributor of medical electronic equipment, announced the launch of Polysmith 12 polysomnography software. Version 12 of the Polysmith software includes more than 40 market-driven features that offer sleep specialists improved workflow, analysis and outcomes. Owining to various factors which are propelling the growth of polysomnography devices segment.
Western Europe Sleep Apnea Device Market Share, By Country, 2019 (%)
Source: MRFR Analysis
Global Sleep Apnea Device Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas has been segmented into North America and Latin America, with the North America market further divided into the US and Canada. The Americas led the market in 2019 and the trend is likely to continue during the assessment period. This is attributed to s rising prevalence of Obstructive Sleep Apnea (OSA), increasing patient adherence for positive airway pressure devices, and medical coverage for sleep apnea devices.
The European sleep apnea device market has been divided into Western Europe and Eastern Europe. The Western Europe sleep apnea device Market has further been classified into Germany, France, the UK, Italy, Spain, and the rest of Western Europe. Europe would follow the Americas, in terms of value, during the forecast period. The growing elderly population base prone to suffer from sleeping disorders is another chief reason escalating the business growth.
TAsia-Pacific has been segmented into China, India, Japan, South Korea, Australia, and the rest of Asia-Pacific. Asia-Pacific is expected to witness the highest market growth potential over the forecast period due to increasing per capita health spending, the developing healthcare sector in China, India, and Australia, growing demand for sleep apnea device such as continuous positive airway pressure (CPAP) machine used for the diagnosis of sleep disorders, and the rising patient population suffering from sleep apnea.
The Middle East & Africa sleep apnea device market is segmented into the Middle East and Africa. The increasing number of companies and subsidiaries in the region providing sleep apnea devices, rising prevalence of OSA, and ever-increasing demand for the treatment of sleep disorders in this region are anticipated to drive the market growth in this region.
The Prominent Players in the Global Sleep Apnea Device Market are Koninklijke Philips (Netherlands), ResMed (US), LivaNova (UK), Compumedics (Australia), Nihon Kohden (Japan), GE Healthcare (US), Natus Medica (US), BMC Medical (China), Cadwell (US), and Curative Medical (US).
Some of the key strategies followed by players operating in the global sleep apnea device market were FDA approvals, joint ventures, acquisitions, expansions, and collaborations.
Global Sleep Apnea Device Market, By Type
Global Sleep Apnea Device Market, By Diagnostic Device Type
Global Sleep Apnea Device Market, By Therapeutic Device Type
Global Sleep Apnea Device Market, By PAPD Type
Global Sleep Apnea Device Market, By Facial Interface Type
Global Sleep Apnea Device Market, By Oral Application Type
Global Sleep Apnea Device Market, By End-user
Global Sleep Apnea Device Market, By Region
Available Additional Customizations
|Market Size||7,683.72 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors and Trends|
|Segments Covered||Type and End User|
|Geographies Covered||North America, Europe, Asia-Pacific and Rest of the World (RoW)|
|Key Vendors||Koninklijke Philips (Netherlands), ResMed (US), LivaNova (UK), Compumedics (Australia), Nihon Kohden (Japan), GE Healthcare (US), Natus Medica (US), BMC Medical (China), Cadwell (US), and Curative Medical (US)|
|Key Market Opportunities||Product development and launch|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The valuation of the global sleep apnea device market is expected to reach USD 6.9 BN by the end of 2022.
The valuation of the global sleep apnea device market had settled at USD 4.7 BN in 2016.
Sleep Apnea Device Market is projected grow at 7.5% CAGR during the assessment period (2016-2022).
Increasing government funding to support R&D and rising preference for using devices to treat sleep apnea instead of surgeries and medications are the major tailwinds pushing the growth of the global sleep apnea devices market.
North America holds the largest share in the global sleep apnea devices market, followed by Europe and the Asia Pacific, respectively.
Koninklijke Philips N.V. (Netherlands), ResMed (US), Fisher & Paykel Healthcare Limited (New Zealand), Invacare Corporation (US), GE Healthcare (US), BMC Medical Co, Ltd (China), ImThera Medical Inc. (US), Braebon Medical Corporation (Canada), Curative Medical (US), and Cadwell Industries, Inc.(US), are some of the major players operating in the sleep apnea devices market.