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.
The growing geriatric population due to increasing life expectancy is expected to lead to a rise in the prevalence of sleep disorders. Moreover, people with obesity and hypertension are more likely to develop sleep apnea. Aging is a major factor driving the market growth for sleep apnea devices. The elderly are the most at risk for developing this disorder.
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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.
4.Insurance coverage for treatment of sleep apnea and other sleep disorders, Product innovation strategy adopted by key industry players.
Restraints and Challenges:
1.Lack of adherence to sleep apnea treatment is amongst the major factors hampering the adoption of sleep apnea devices.
2. Treatment compliance, especially of the CPAP, has always been an issue with sleep apnea patients.
3.Developed countries have a well-established infrastructure and reimbursement system in place. However, developing countries have a lackluster reimbursement system, and a significant out of pocket costs for patients.
Segmentation:
By Type
- Therapeutic Devices
- Positive Airway Pressure Devices
- Automatic Positive Airway Pressure Devices
- Continuous Positive Airway Pressure Devices
- Bilevel Positive Airway Pressure Devices
- Positive Airway Pressure Devices
Key Players:
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.
- Devilbiss Healthcare LLC
- Whole You, Inc.
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