Sleep Apnea Devices Market worth $8.0 billion | MarketsandMarkets

CHICAGO, June 8, 2023 /PRNewswire/ -- The sleep apnea devices industry is poised for significant growth and innovation in the near future. With increasing awareness about the detrimental effects of untreated sleep apnea, coupled with advancements in technology, the demand for effective and user-friendly devices is expected to soar. Manufacturers are investing heavily in research and development to create next-generation sleep apnea devices that offer improved comfort, accuracy, and ease of use. These devices will integrate cutting-edge features such as advanced sensors, wireless connectivity, and artificial intelligence algorithms to provide personalized therapy and real-time monitoring. Additionally, the industry will witness a surge in portable and wearable sleep apnea devices, catering to the growing trend of home-based treatments and remote patient monitoring. As a result, patients will have access to a wider range of options, empowering them to manage their sleep apnea more effectively and enhance their overall quality of life.

Sleep Apnea Devices Market in terms of revenue was estimated to be worth $5.8 billion in 2023 and is poised to reach $8.0 billion by 2028, growing at a CAGR of 6.5% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of this market is majorly driven by increasing number of companies venturing into the sleep apnea devices and oral appliances market. Furthermore, large pool of undiagnosed sleep apnea patients is expected to drive the growth of sleep apnea devices market.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=719

Browse in-depth TOC on "Sleep Apnea Devices Market"
316 - Tables
47 - Figures
315 - Pages

Sleep Apnea Devices Market Scope:

PAP devices segment is expected to account for the largest share in 2022.

Positive airway pressure (PAP) devices are the first line of treatment for sleep apnea. The therapeutic sleep apnea devices market, by product, has been segmented into positive airway pressure (PAP) devices, facial interfaces (masks), accessories, oral appliances, adaptive servo-ventilators, and other therapeutic devices. PAP devices dominate the market and are most often rented or purchased through a home healthcare company, also known as a durable medical equipment company.

The sleep laboratories, clinics & hospitals segment held the largest market share in the sleep apnea devices market.

By end user, the global sleep apnea devices market is broadly segmented into sleep laboratories, clinics & hospitals and home care settings/individuals. The high expenditure of the treatment regime incurred from personalized care and the high-precision diagnosis drives growth in this segment. However, home care settings/individual are expected to observe high growth rate as home care allows individuals to receive treatment for sleep apnea in the comfort of their own homes and with advancement of technology data tracking and remote monitoring capabilities are enhanced.

North America dominates the global sleep apnea devices market

Based on the region, the sleep apnea devices market is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America market is driven by various grants and funds available for research on sleep apnea by government and private organizations. Europe is the second-largest market for sleep apnea devices market due to the increasing number of innovative products being launched in the market are expected to drive market growth in Europe. Asia Pacific will observe high growth during forecast period with its increasing healthcare infrastructure with better access to medical facilities.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=719https://www.marketsandmarkets.com/requestsampleNew.asp?id=90799911&utm_source=Prnewswire&utm_medium=referral&utm_campaign=paidpr

Sleep Apnea Devices Market Dynamics:

Drivers:

1. Large pool of undiagnosed sleep apnea patients
2. Favorable reimbursements and financial aid for sleep apnea devices and therapies
3. Growing awareness about the ill effects of untreated sleep apnea
4. Growing usage of oral appliances
5. Increasing number of companies venturing into the sleep apnea devices and oral appliances markets

Restraints:

1. High cost of CPAP machines
2. Complex referral pathways, long waiting periods, and product recalls

Opportunities:

1. Growing demand for home sleep apnea tests (HSATs)
2. Increasing focus on telemedicine, mHealth (mobile health), and artificial intelligence

Challenges:

1. Lack of patient compliance

Key Market Players:

Major players in sleep apnea devices market include ResMed (US), Koninklijke Philips N.V. (Netherlands), and Fisher & Paykel Healthcare (New Zealand).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=719

Recent Developments:

• In 2022, Fisher & Paykel Healthcare (New Zealand) launched Evora Full, a compact full-face mask for obstructive sleep apnea (OSA) treatment in US.
• In 2021, ResMed (US) acquired MEDIFOX DAN (Germany) the German-based clinical, financial, and operational solutions provider to drive leadership in out-of-hospital software solutions for USD 1 Billion
• In 2021, Oventus (Australia) signed a partnership with Aeroflow Healthcare (US). The partnership focuses on providing Oventus' OSA treatment solutions, including O2Vent Optima, directly to consumers via sleep clinics in the US.
• In 2020, Koninklijke Philips N.V. (Netherlands) launched the DreamWear Silicone Pillows in North America. These pillows use 3D facial scan data to fit diverse populations.

Sleep Apnea Devices Market Advantages:

• Improved Quality of Sleep: Sleep apnea devices, such as continuous positive airway pressure (CPAP) machines, help individuals with sleep apnea breathe more easily and maintain proper oxygen levels throughout the night. By effectively treating sleep apnea, these devices promote restful and uninterrupted sleep, leading to improved overall sleep quality and daytime functioning.
• Health Benefits: Untreated sleep apnea can have serious health consequences, including increased risk of cardiovascular disease, hypertension, stroke, and diabetes. Sleep apnea devices play a crucial role in managing and reducing these risks by ensuring proper airflow and oxygenation during sleep, thereby improving cardiovascular health and reducing the incidence of associated health conditions.
• Enhanced Energy and Alertness: Sleep apnea often leads to excessive daytime sleepiness and fatigue. By addressing sleep apnea, these devices help individuals wake up feeling refreshed, revitalized, and more alert during the day. Improved energy levels positively impact productivity, concentration, and overall cognitive functioning.
• Non-Invasive Treatment: Sleep apnea devices provide a non-invasive alternative to surgical interventions or other invasive procedures. They offer a comfortable and user-friendly solution that can be easily incorporated into one's bedtime routine, eliminating the need for more intrusive treatment methods.
• Customizable and Personalized Therapy: Modern sleep apnea devices are equipped with advanced features that allow for personalized therapy. These devices can be adjusted to meet individual needs, including pressure settings, mask types, and humidity levels, ensuring optimal comfort and effectiveness for each patient.
• Growing Technological Advancements: The sleep apnea devices market is experiencing rapid technological advancements. Manufacturers are continually introducing innovative features such as wireless connectivity, smartphone applications, and data tracking capabilities. These advancements enable remote monitoring, data analysis, and better patient-doctor communication, leading to more efficient and personalized care.
• Increased Accessibility and Awareness: With the growing prevalence of sleep apnea and increased awareness about its impact on health, there has been a rise in the availability and accessibility of sleep apnea devices. These devices are now more widely distributed, making them accessible to a larger population and ensuring that individuals with sleep apnea can seek timely diagnosis and appropriate treatment.

Overall, the sleep apnea devices market offers significant advantages by providing effective, non-invasive, and customizable solutions to manage sleep apnea, promote restful sleep, and improve overall health and well-being.

Sleep Apnea Devices Market - Report Highlights:

• In the latest edition of the report, the main market is segmented by product, end user, and region.
• The study includes an analysis of the latest average selling prices (ASP) for different devices in the sleep apnea devices market.
• The research study comprises the latest patent analysis, trade analysis, supply chain analysis, Porter's five forces analysis, and value chain analysis of technologies/solutions used in the sleep apnea devices market.
• The new market study includes information on trends/disruptions impacting customer businesses.
• The new market study includes information on key conferences & events in 2023–2024.
• The new market study includes information on the key stakeholders in the buying process.
• The 25 companies profiled in the report are classified in the company evaluation quadrant.
• The study provides the revenue share analysis of the top players in the sleep apnea devices market.
• The research study consists of the latest market share analysis of the top players in the sleep apnea devices market.
• The study provides details of the strategies of the top 15 players in the market.
• The research study comprises 25 players. These companies have emerged as key market players due to their products and strategic investments in the sleep apnea devices market.
• Updated financial information/product portfolio of players: The new edition of the report provides updated financial information in the context of the sleep apnea devices market from 2020 to 2022 (depending on availability) for each listed company in graphical representation.
• Updated market developments of profiled players: The current report includes the market developments from January 2020 to April 2023.
• The existing report includes an analysis of the impact of recession on the sleep apnea devices the market overview section.

Related Reports:

Pulse Oximeter Market - Global Forecasts to 2027

Patient Monitoring Devices Market - Global Forecasts to 2027

Home Healthcare Market - Global Forecasts to 2027

Top 10 Medical Device Technologies Market - Global Forecasts to 2027

Respiratory Care Devices Market - Global Forecasts to 2026

About MarketsandMarkets™:

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/sleep-apnea-devices-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/sleep-apnea-devices.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets