Market Research

Sleep Apnea Devices Market to Grow at a CAGR of 7.2% During Forecast Period 2020-2025

Jul 16, 2020 7:00 PM ET
iCrowd Newswire – Jul 16, 2020

Sleep Apnea Devices Market size is estimated to be $5.9 billion in 2019, growing at a CAGR of 7.2% during the forecast period 2020-2025.Growing population along with the increase in prevalence of obstructive sleep apnea is a major factor driving the sleep apnea devices market. Sleep Apnea is a serious sleep disorder in which breathing repeatedly starts and stops. Untreated sleep apnea causes major health issues leading to chronic disorders such as cardiovascular diseases, high blood pressure, atrial fibrillation, stroke and obesity. Hence, increase in the prevalence of sleep disorder across the world would eventually increase the demand of sleep apnea devices. Furthermore, the use of Continuous Positive Air Pressure (CPAP) machine, mouth guards, mandibular advancement device, tongue retaining device to treat patients with sleep apnea disorder is further driving its market growth.

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By Type- Segment Analysis 

By Type the Therapeutic Devices held the largest market share in 2019 owing to the adoption of technologically advanced products for the treatment of sleep apnea. The Therapeutic Devices is further segmented into Positive Airway Pressure Devices, Facial Masks, Oral Appliances and others. Furthermore, positive airway pressure device is a mode of respiratory ventilation used in the treatment of sleep apnea. In addition it is also used who are ill in hospital, in newborn infants and for the prevention and treatment of atelectasis in patients with difficulty in deep breathing.

By End-User- Segment Analysis

Sleep Laboratories are projected to be the fastest-growing during the forecast period 2020-2025 with a CAGR of 6%. This is owing to the increase in polysomnography also called sleep study test to diagnose sleep disorders. Polysomnography records patient brain waves, the oxygen level in blood, heart rate and breathing as wells as eye and leg movements during the study. In addition to helping diagnose sleep disorders polysomnography can also be used to help adjust treatment plan if the patient have already been diagnosed with sleep disorder. Furthermore, it is usually performed at a sleep disorder unit within a hospital or sleep centers. Moreover, according to the Sleep Apnea Statisics in Febraury 2018 50-70 million U.S. adults have sleep disorder and obstructive sleep disorder is one of the most prevalent sleep disorders.

Geography- Segment Analysis

North America accounted for 42% of the Sleep Apnea Devices Market share in 2019 followed by Europe and Asia Pacific. Increasing adoption of products along with government initiatives to reduce sleep apnea disorder is a major factor driving its market growth in that region. Moreover, according to the American Sleep Apnea Association it is estimated that 22 million Americans suffer from sleep apnea with 80% of the cases of moderate and severe obstructive sleep apnea undiagnosed.

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Drivers –Sleep Apnea Devices Market

  • Large Pool Of Undiagnosed Sleep Apnea Patients

Large Pool of Undiagnosed Sleep Apnea Patients is a major factor driving the Sleep Apnea Devices Market during the forecast period 2020-2025. Sleep Apnea when untreated lead to high blood pressure, chronic heart failure, artial fibrillation, stroke, obesity and other cardiovascular problems. Therefore adoption appropriate sleep apnea devices can help to prevent such diseases thereby driving the sleep apnea devices market during the forecast period 2020-2024.

  • Technological innovation in devices for Sleep Apnea

Technological innovation in devices for sleep apnea is a major factor driving the Sleep Apnea Devices Market during the forecast period 2020-2025.Sleep Apnea devices include Positive Airway Pressure Therapy, Oral Pressure Therapy, Oral Appliances and Surgery. Among these the positive airway pressure therapy is the most common form of treatment for moderate and severe obstructive sleep apnea. In this the patient wears a nasal or full-face mask that delivers pressurized air to the upper airway, preventing the airway from collapsing during sleep.

Challenges – Sleep Apnea Devices Market

High Cost of Diagnosis & Treatment for Sleeping Disorder

High Cost of Diagnosis & Treatment for Sleeping Disorder is a major factor restraining the Sleep Apnea Devices Market during the forecast period 2020-2025.Moreover, sleeping disorder encompasses a wide spectrum of diseases with significant individual health consequences and high economic cost to society. Furthermore, high cost of sleep apnea treatment disrupts the smooth functioning of the Sleep Apnea Devices Market in 2019.

Developments:

  • December 2019: Itamar Medical and SoClean collaborated to overcome the barriers to sleep apnea testing and therapy solution by enabling consumers to purchase remote-sleep consultations and home based sleep testing using the WatchPat One in the comfort of their homes.
  • September 2019: Philips launched NightBalance Device for Sleep Apnea to help people with positional obstructive sleep apnoea(OSA).

Key Takeaways

  • By Type the Therapeutic Devices held the largest market share in 2019 owing to the adoption of technologically advanced products for the treatment of sleep apnea.
  • Owing to the rise in polysomnography also called sleep research test to diagnose sleep disorders sleep laboratories held the largest market share in 2019.
  • In 2019, North America dominated the Sleep Apnea Devices Market by region owing to the increased adoption of products along with government initiatives to reduce sleep apnea disorder is a major factor driving its market growth in that region.

Sleep Apnea Devices Market Industry Outlook 

Product Launches, Merger & Acquistion, joint ventures and R&D activities are key strategies adopted by the players in the Sleep Apnea Devices Market. Sleep Apnea Devices Market top 10 companies are BMC Medical, Braebon Medical, Compumedics, Drive Devilbiss Healthcare, Fisher & Paykel Healthcare, Koninklijke Philips, Lowenstein Medical, Resmed, Somnomed and Whole You.

Related Reports:

Sleeping Aids Market

https://www.industryarc.com/Report/16244/sleeping-aids-market.html

Circadian Rhythm Sleep Disorder Market 

https://www.industryarc.com/Report/15552/circadian-rhythm-sleep-disorder-market.html

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