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Sleep Apnea Devices Market

Sleep Apnea Devices Market by Product (Therapeutic [Positive Airway Pressure (PAP) Devices, Facial Interfaces, Oral Appliances, Adaptive Servo-Ventilators (ASVs)], Diagnostic [Polysomnography Devices, Home Sleep Testing Devices, Pulse Oximeters, Actigraphy Devices, Sleep Screening Devices, Respiratory Polygraphs]), by End User (Sleep Laboratories, At-Home), by Geography (U.S., Canada, U.K., Germany, France, Japan, China, Brazil, Mexico, Saudi Arabia, U.A.E., South Africa) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023

Published: June 2018
Report Code: LS11486
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Sleep Apnea Devices Market Overview

The global sleep apnea devices market generated approximately $5.3 billion revenue in 2017 and is projected to showcase a CAGR of around 7.0% during the forecast period. Increasing patient pool of sleep apnea on account of increasing obesity, improving patient compliance owing to stringent reimbursement regulations, and increasing home sleep testing as well as initiatives to increase awareness are driving the growth of the market globally.

 

GLOBAL SLEEP APNEA DEVICES MARKET, BY PRODUCT, $M (2013–2023)

SLEEP APNEA DEVICES MARKET

Based on end user, the sleep apnea devices market has been bifurcated into sleep laboratories and at-home. During the forecast period, the sleep apnea devices market demand for at-home end-user category is expected to witness faster growth, owing to the convenience of the test conducted at-home that costs approximately one fourth of a traditional lab study.

On the basis of product, the sleep apnea devices market has been categorized into into diagnostic and therapeutic devices. The market demand for therapeutic devices is expected to register faster growth during the forecast period, owing to their positive effects observed in the treatment of sleep apnea, and easy accessibility.

Therapeutic devices are further classified into positive airway pressure (PAP) devices, facial interfaces, oral appliances, adaptive servo-ventilators (ASVs), and others. Among all the types of therapeutic devices, PAP devices held the largest share in the market in 2017. Also, diagnostic devices are sub-categorized into polysomnography devices, home sleep testing devices, pulse oximeters, actigraphy devices, sleep screening devices, and respiratory polygraphs, where polysomnography is expected to lead the market in the coming years.

Geographically, North America has been contributing the largest share to the sleep apnea devices market. The growth in the region’s sleep apnea devices market is mainly led by the growing incidence of sleep disorders and initiatives of the government and non-government organizations for increasing awareness about sleep disorders and sleep hygiene. Several government bodies are running awareness programs to educate people and medical practitioners about healthy sleep habits. Moreover, the major players in the regional-level market are investing huge capital to develop technologically efficient, effective, and easy to use sleep apnea devices.

The region is characterized by the presence of several sleep specialists and sleep centers such as Carilion Clinic, Adam Mascovitch, Florida Lung, Asthma & Sleep Specialists, Oregon Sleep Associates and Sound Sleep Health, that are expected to aid the growth of the North American sleep apnea devices market.

Sleep Apnea Devices Market Dynamics

Growth Drivers

Increasing patient pool for sleep apnea on account of increasing obesity, improving patient compliance owing to stringent reimbursement regulations, and increasing home sleep testing as well as initiatives to increase awareness globally are driving the growth of the sleep apnea devices industry.

According to the American Sleep Association on sleep disorder statistics, insomnia is the most common sleep disorder, with short term issues reported by about 30% of adults and chronic insomnia by 10%. Moreover, the obstructive sleep apnea (OSA) U.K. health economics report conducted by the Office of Health Economics for the British Lung Foundation, suggests that investing in creating awareness about diagnosis and treatment of OSA can save National Health Service (NHS) up to $42.8 million (£28 million) and prevent up to 40,000 road traffic accidents a year.

Due to fast-growing middle-class population in developing countries, there has been a steep rise in healthcare disorders and therefore, governments in developing as well as developed countries are endorsing various start-ups working on the control and prevention of sleep-related disorders. For instance, Oventus Medical won a $2,950,000 U.S. government grant to continue research into the growing epidemic of sleep apnea.

Opportunities

Increasing focus on home healthcare, rising disposable income, and increasing patient pool in emerging economies serve as opportunities for the players in the sleep apnea devices market. According to the U.S. Bureau of Labor Statistics (BLS), there has been an increase in the personal disposable income of the U.S. population. It increased from $11,394 billion in 2006 to $15,928.7 billion in 2016 and is expected to reach $24,174.5 billion by 2024. Thus, with the increase in household disposable income, the purchasing power of people has increased, leading to inclination towards sleep apnea devices.

Sleep Apnea Devices Market Competitive Landscape

The players are collaborating in the market to provide awareness about sleep apnea. For instance, in August 2017, EarlySense and SleepMed Inc., announced a partnership agreement to help provide consumers with a solution that would help identify sleep disorders that may impact their health, including OSA. EarlySense Live uses hospital-proven technology to help its users easily track and monitor vital health signs such as heart rate, respiratory rate, sleep cycles, and stress levels. The sensor can also monitor disruptions throughout the night, including detection of interrupted breathing.

SleepMed Inc. is a provider of diagnostic and therapeutic solution for sleep disorders that offers equipment and services for sleep laboratories, as well as sleep apnea devices as their offerings.

Some of the other major players in the sleep apnea devices industry are ResMed Inc., Koninklijke Philips N.V., Fisher & Paykel Healthcare, SomnoMed Ltd., Compumedics Limited, Löwenstein Medical GmbH & Co. KG., BMC Medical Co. Ltd., Drive DeVilbiss Healthcare, and Braebon Medical Corporation.

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