Sleep apnea devices have become conveniently accessible due to the advancement in technology as a number of the key market players are developing and launching new devices to expand their market. Moreover, rising healthcare expenditure in developed as well as a developing countries has fueled the growth of the sleep apnea devices market. The sleep apnea devices market is growing due to the increased prevalence of the elder population with sleep disorders and the rise in technological advancement.
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Global Sleep Apnea Devices Market was valued at USD 4,123.98 million in 2021 and is expected to reach USD 7,716.59 million by 2029, registering a CAGR of 7.60% during the forecast period of 2022-2029. The demand for the sleep apnea devices market has increased in both developed and developing countries, and the reason behind this is increasing strategic initiatives by key players. Lack of accessibility is expected to hinder the global sleep apnea devices market growth.
The rise in the geriatric and obese population is expected to drive the market's growth rate
Obesity is a health disorder that increases the likelihood of health complications. In recent decades, in the United States and Canada, obesity is a serious health problem leading to coronary heart disease, which results in death. Obesity incidents in North America, particularly the United States, Mexico, and Canada, remain the world's highest. Thus, the rise in the obese population, which is further expected to increase in the coming years, is a major driver for the market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Diseases Type (Obstructive Sleep Apnea Syndrome, Central Sleep Apnea Syndrome, Complex Sleep Apnea Syndrome), Type (Devices, Therapy), Patient Demographics (Pediatric, Adult, Geriatric), End User (Hospital/ Clinics, Diagnostic Centers, Ambulatory Care Centers, Specialty Care Centers, Home Healthcare), Distribution Channel (Direct Tender, Retail Sales)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Koninklijke Philips N.V. (Netherlands), Itamar Medical Ltd. (Israel), Natus Medical Incorporated (US), CONTEC MEDICAL SYSTEMS CO., LTD (China), ResMed (US), BMC Medical Co., Ltd. (China), SomnoMed (Australia), Fisher & Paykel Healthcare Limited (New Zealand), Medicom MTD Ltd (Russia), Somnowell (UK), Compumedics Limited (Australia), SIBELMED (Barcelona), APEX MEDICAL CORP. (Taiwan), Inspire Medical Systems, Inc. (US), NIHON KOHDEN CORPORATION (Japan), DeVilbiss Healthcare LLC (US), nox medical (Iceland), Advanced Brain Monitoring, Inc. (US), Cleveland Medical Devices Inc. (US), Braebon Medical Corporation (Canada), Löwenstein Medical Technology GmbH + Co. KG. (Germany), and Nyxoah SA (Belgium) among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
Global sleep apnea devices market is categorized into five notable segments which are based on the diseases type, type, patient demographics, end user and distribution channel.
- On the basis of diseases type, the global sleep apnea devices market is segmented into obstructive sleep apnea syndrome, central sleep apnea syndrome and complex sleep apnea syndrome. In 2021, obstructive sleep apnea syndrome segment is expected to dominate the market with 64.60% market share due to rising prevalence of chronic obese population and high body mass index individuals.
- On the basis of type, the global sleep apnea devices market is segmented into device and therapy. In 2021, device segment is expected to dominate the market with 85.83% market share due to surge in technological advancements in novel therapeutics options for convenient applications.
- On the basis of patient demographics, global sleep apnea devices market is segmented into pediatric, adult and geriatric. In 2021, adult segment is expected to dominate the market with 58.78% market share due to rising prevalence of elderly population with accompanied chronic diseases as diabetes and obesity.
- On the basis of end user, global sleep apnea devices market is segmented into hospital/clinics, diagnostic centers, ambulatory care centers, specialty care center and home healthcare. In 2021, home healthcare segment is expected to dominate the market with 36.91% market share as it provides patients with the best and accessible healthcare services.
The home healthcare will dominate the end user segment of the global sleep apnea devices market
In 2022, the home healthcare segment is expected to flourish its dominance by acquiring more than 37% of the market share. This is because of the growth and expansion of the healthcare industry and growing demand for critical care by geriatric population base.
- On the basis of distribution channel, global sleep apnea devices market is segmented into direct tender and retail sales. In 2021, retail sales is expected to dominate the market with 71.19% market share as it provides quality and accessible sleep apnea devices to various hospitals, diagnostic centers, ambulatory and specialty care centers.
The retail sales will dominate the distribution channel segment of the global sleep apnea devices market
- In 2022, the retail sales segment is expected to flourish its dominance by acquiring more than 71% of the market share. This is because of the growing number of retailers in the market.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players in market are Koninklijke Philips N.V. (Netherlands), Itamar Medical Ltd. (Israel), Natus Medical Incorporated (US), CONTEC MEDICAL SYSTEMS CO., LTD (China), ResMed (US), BMC Medical Co., Ltd. (China), SomnoMed (Australia), Fisher & Paykel Healthcare Limited (New Zealand), Medicom MTD Ltd (Russia), Somnowell (UK), Compumedics Limited (Australia), SIBELMED (Barcelona), APEX MEDICAL CORP. (Taiwan), Inspire Medical Systems, Inc. (US), NIHON KOHDEN CORPORATION (Japan), DeVilbiss Healthcare LLC (US), nox medical (Iceland), Advanced Brain Monitoring, Inc. (US), Cleveland Medical Devices Inc. (US), Braebon Medical Corporation (Canada), Löwenstein Medical Technology GmbH + Co. KG. (Germany), and Nyxoah SA (Belgium).
Market Development
- In April 2020, Itamar Medical Ltd. signed a collaboration agreement with BetterNight, a leading comprehensive sleep solution provider. This collaboration was aimed at offering sleep apnea patients home care virtual-care sleep solutions for diagnosis and treatment. This is expected to assist the company in improving revenue for market
- In October 2019, Cahaba Media Group, Inc. announced that the latest advancements such as 3D Scanning are included in developing patient-centric CPAP masks. Thereby these masks provide a personalized fitting experience with data-driven guidance for easy use
- In April 2021, Natus Medical Incorporated announced that its CEO and president will be presented at the 20th Annual Needham Virtual Healthcare Conference. This conference will offer one-on-one discussions with investors from various institutions, thereby strengthening their investor relationship and surges growth for the future
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in sleep apnea devices market during the forecast period 2022 to 2029
North America dominates the sleep apnea devices market. This is because of the prevalence of advanced healthcare infrastructure in the region, equipped sufficiently to deal with the rising cases of respiratory disorders within the region. Growing population base suffering from type-2 diabetes is a probable cause of obstructive sleep apnea, which in turn, is fostering the demand for sleep apnea devices.
Asia-Pacific is estimated to be the fastest growing region in sleep apnea devices market the forecast period 2022 to 2029
Asia-Pacific (APAC) will become the territorial region with the highest growth rate during the forecast period of 2022 to 2029. Congestive heart failures and high blood pressure increase the risk of developing obstructive sleep apnea. Therefore, growing instance of them among the population in this region coupled with increasing prevalence of lifestyle diseases will bolster the demand for sleep apnea devices.
COVID-19 Impact Analysis
COVID-19 had a negative impact on the market for sleep apnea devices. The market's operational and logistical challenges as a result of nationwide lockdowns reduced demand for sleep apnea devices. As a result of the virus's negative impact on sleep apnea patients, there was an increase in demand for and production of sleep apnea devices such as masks, sleep ventilators, and PAP devices. Telemedicine and teleconsultations experienced rapid growth during the pandemic and are expected to continue to grow in the post-pandemic scenario, supporting the growth of the sleep apnea devices market.
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