Sleep Apnea Devices Market to Generate $13,386.5 Million Revenue by 2030

The sleep apnea devices market size is expected to advance at a CAGR of 7.2% during 2022–2030, to reach $13,386.5 million by 2030.

Increasing Demand For Home Sleep Tesing Devices

Home sleep testing devices are being increasingly adopted since these tests make it easy to monitor a patient’s sleep, either overnight or during a series of naps during the day. These tests are painless and are used to diagnose sleep disorders, such as insomnia, sleep apnea, and narcolepsy. Home sleep apnea testing (HSAT) helps in the identification of several sleep apnea indicators, including oronasal airflow, oxygen saturation, respiratory effort, and body position. Moreover, such tests also help to differentiate between sleep and wakefulness with better sensitivity and specificity.

In addition, HSAT involves the usage of the electroencephalogram (EEG) for measuring brain waves and the electrocardiogram (ECG) for measuring heart rate. HSAT help in identifying the exact cause of sleep disorder in an individual. Furthermore, these tests are cost-effective as compared to the tests conducted in sleep laboratories, and are therefore preferred by the patients. For instance, the cost of an at-home sleep apnea device usually ranges between $150–$500.

Growing Adoption of Wearable Sleep Trackers

The increasing adoption of wearable sleep trackers embedded with biometric sensor technology, that monitors sleep quality for diagnosing sleep apnea is a key trend observed in the global market. These devices help to record and transmit data related to various physiological conditions of a patient. The wearable sleep trackers are well equipped with sensors, such as accelerometers, and pulse oximeters for the measurement of heart rate, blood oxygen level, and sleep pattern of the patients showing sleep apnea symptoms.

Some of the sleep-tracking wearable devices available in the market include GO2SLEEP by SLEEPON Inc., and O2 Vibe Fitness & Sleep Monitor by BodiMetrics LLC. These wearable sleep trackers are portable, easy to use, and can be easily operated without any special skills, as compared to conventional sleep testing devices; thus, making them popular among patients suffering from various sleep disorders

Pulse Oximeters Are Expected Have Significant Growth

The pulse oximeter category is expected to maintain its growth, with more than 5% CAGR during the forecast period. The oxygen saturation of the blood is frequently measured with pulse oximeters. They have become a standard device in hospitals and other healthcare facilities owing to their convenience.

Moreover, pulse oximetry devices can be used in many ways to evaluate and recognize obstructive sleep apnea in children and adults. Moreover, the pulse oximetry data’s pattern can be decoded in the context of events in other physiological channels when such devices are used as a part of a nocturnal polysomnogram (PSG), potentially permitting extensive features of the pathophysiology.

In the coming years, the category is also predicted to grow due to the surging prevalence of sleep apnea globally. Additionally, there are a lot of activities performed by key players that can help the market, such as product launches and approvals, partnerships, collaborations, mergers, and acquisitions. For instance, in January 2021, telehealth startup Tyto Care introduced its fingertip pulse oximeter (SpO2). This medical device allows users to check their heart beat and blood oxygen saturation levels remotely.

As a result, the factors mentioned above, including the rising prevalence of sleep apnea and the accessibility of devices, will help the category to grow rapidly over the projection period.

The most-significant sleep apnea devices market players are Koninklijke Philips N.V., DeVilbiss Healthcare GmbH, ResMed Inc., Fisher & Paykel Healthcare Limited, Löwenstein Medical Technology GmbH & Co. KG, BMC Medical Co. Ltd., Compumedics Limited, SomnoMed Limited, BRAEBON Medical Corporation, and Natus Medical Incorporated.