Sleep Apnea Devices Market to be Driven by Increase in the Geriatric Population in the Forecast Period of 2023-2031
The new report by Expert Market Research titled, ‘Global Sleep Apnea Devices Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2031’, gives in-depth analysis of the global sleep apnea devices market share, assessing the market based on its segments like diagnostic devices, therapeutic devices, oxygen devices, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2031):
• Historical Market Size (2022): USD 9.6 Billion
• Forecast CAGR (2023-2031): 6.50%
• Forecast Market Size (2031): USD 17 Billion
The large pool of undiagnosed sleep apnea patients, growing knowledge about the negative effects of untreated sleep apnea, growing use of oral appliances, technological advancements in sleep apnea devices, significant venture capital funding, and the growing number of companies venturing into sleep apnea and oral appliance therapy are all factors driving the sleep apnea devices market.
Industry Definition and Major Segments
Sleep apnea is a severe sleeping disorder in which breathing stops and starts repeatedly. There are several treatment options for sleep apnea recovery. Wearing an oral brace, sleep apnea treatment, weight control, posture therapy, and behaviour therapy are all examples. Hypoglossus nerve stimulation, expiratory airway pressure, positive airway pressure therapy, and oral pressure therapy are among the most commonly used sleep apnea treatments.
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The diagnostic devices for sleep apnea can be divided into:
• Polysomnography Devices (PSG)
• Pulse Oximeters
• Actigraphy Devices
The therapeutic devices available in the industry can be divided into the following:
• Oxygen Devices
• Oral Appliances Therapeutic Devices
• Adaptive Servo Ventilation (ASV) Devices
• Masks and Accessories
Oxygen devices are further segmented into:
• Oxygen Concentrators
• Portable Oxygen Concentrators
• Liquid Portable Oxygen
Based on region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The number of companies joining the sleep apnea and oral equipment industry, as well as technological advances in sleep apnea devices, a large pool of undiagnosed sleep apnea patients, the use of oral appliances, and significant venture capital funding, are the major factors driving the sleep apnea devices market, among others.
Furthermore, in the forecasted period, increasing demand for home healthcare and increased emphasis on telemedicine and health would generate new opportunities for the sleep apnea devices industry. Cadwell Industries, Inc. reintroduced the ApneaTrak home sleep apnea testing (HSAT) product in April 2020, with three versions to address a variety of clinical requirements for diagnosing sleep apnea and evaluating treatment efficacy. In 2019, the Americas led the sector, and this trend is expected to continue during the assessment period.
The rising prevalence of Obstructive Sleep Apnea (OSA), the patient adherence to positive airway pressure devices, and medical coverage for sleep apnea devices are all contributing to this. During the forecast era, Europe will trail the Americas in terms of valuation. Another major factor driving business expansion is the increasing elderly population, which is more likely to suffer from sleeping disorders.
Key Market Players
The major players in the market are Fisher & Paykel Healthcare Limited, Koninklijke Philips NV, Invacare Corporation, Natus Medical Incorporated (NASDAQ: NTUS), Resmed, Cadwell Industries Inc., Vyaire Medical Inc., General Electric Company, Nihon Kohden Corporation, Teleflex Incorporated, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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