Global Sleep Apnea Market is expected to reach $13.8bn by 2031 growing at a CAGR of 6.3% between 2021 and 2031.
Global Sleep Apnea Market report from Global Insight Services is the single authoritative source of intelligence on Sleep Apnea Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Surging prevalence of sleep apnea and related co-morbidities along with growing awareness regarding sleep disorders is amongst the major factors stimulating the overall market growth. Technological advancement is set to propel sleep apnea devices market growth during the forecast period. These advancements in oral appliances, oxygen devices, actigraphy systems have increased the sleep disorders treatment outcome and success rate.
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COVID-19 Impact Analysis
Diagnostic devices suppliers witnessed a decline in sales revenue growth of sleep apnea diagnostic devices due to temporary closure of sleep clinics and medical equipment suppliers owing to quarantines and government restrictions. The growth of the sleep apnea devices market has massively increased due to the sudden outbreak of the COVID-19 pandemic.
Lockdowns in nations across the globe increased the adoption of home sleep apnea tests (HSATs) over PSG devices. Telemedicine and teleconsultations also gained popularity during the pandemic, which further supported the growth of the market.
Key players reported a significant growth in the revenue from due to increase in number of patients suffering from sleep disorders due to excessive stress resulting from the COVID-19 pandemic.
Key Trends and Drivers:
1.The massive pool of undiagnosed patients of sleep apnea holds tremendous potential for the sleep apnea devices market. It is expected with the ongoing awareness campaigns and efforts, the untouched patients base would be diagnosed and treated for the sleep apnea.
2.This combined with increasing number of sleep clinics and sleep technicians globally is facilitating the growth of the market.
3.People’s sedentary lifestyles have resulted in an increase in the prevalence of cardiovascular illnesses, poor sleep habits, high-stress levels, and obesity.
Segmentation:
By Type
- Therapeutic Devices
- Diagnostic Devices
By End User
- Sleep Laboratories and Clinics.
- Home care and other settings.
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Key companies in this market include:
- Braedon Medical Corporation
- SomnoMed
- ResMed Inc.
- Philips N.V.
- BMC Medical Co. Ltd.
- Fisher & Paykel Healthcare
- Advanced Brain Monitoring Inc.
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