Chicago, July 10, 2023 (GLOBE NEWSWIRE) -- The sleep apnea devices industry is poised for significant growth and innovation in the near future. As awareness about sleep apnea and its impact on health continues to rise, the demand for effective treatment options is increasing. Technological advancements and research in this field are driving the development of innovative devices that offer improved comfort, portability, and efficacy in managing sleep apnea. We can expect to see the integration of wearable sensors, wireless connectivity, and data analytics into sleep apnea devices, allowing for real-time monitoring, personalized treatment adjustments, and remote patient management. Additionally, the industry is likely to witness the expansion of home-based sleep apnea devices, providing individuals with more convenient and cost-effective alternatives to traditional in-lab sleep studies. With the ongoing emphasis on patient-centered care, the near future of the sleep apnea devices industry holds promise for enhanced user experience, better treatment outcomes, and an overall improvement in the quality of life for individuals with sleep apnea.
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 latest report published by MarketsandMarkets™. The growth of this market is majorly driven by large pool of undiagnosed sleep apnea patients and growing usage of oral appliances. However, presence of complex referral pathways, long waiting periods, and product recalls may restrain the market growth.
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Sleep Apnea Devices Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $5.8 billion |
| Estimated Value by 2028 | $8.0 billion |
| Growth Rate | Poised to grow at a CAGR of 6.5% |
| Market Size Available for | 2021–2028 |
| Forecast Period | 2023–2028 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, and End user |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Increasing focus on telemedicine, mHealth and AI |
| Key Market Drivers | Growing awareness of effects of untreated sleep apnea |
Sleep Apnea Devices market major players covered in the report, such as:
- ResMed (US)
- Koninklijke Philips N.V. (Netherlands)
- Fisher & Paykel Healthcare (New Zealand)
- Inspire Medical Systems Inc. (US)
- SomnoMed (Australia)
- Oventus Medical (Australia)
- Compumedics (Australia)
- Löwenstein Medical Technology GmbH + Co. K.G. (Germany)
- Drive DeVilbiss Healthcare (US)
- BMC Medical Co. (China)
- BRAEBON Medical Corporation (Canada)
- Whole You Inc. (US)
- Panthera Dental (Canada)
- Myerson LLC (US)
- ProSomnus Sleep Technologies (US)
- Nidek Medical India (India)
- Tomed GmbH (Germany)
- LivaNova (UK)
- Invacare Corporation (US)
- MPowrx Health & Wellness (Canada)
- Nihon Kohden (Japan)
- Natus Medical Incorporated (US)
- Vivos Therapeutics Inc. (US)
- Airway Management (US)
- Apnea Sciences (US)
- and Among Others
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This research report categorizes the Sleep apnea devices market into the following segments and subsegments:
Regional Split
- North America
- Europe
- Asia Pacific
- Rest of the World
Product Split
- Therapeutic devices
- Diagnostic devices
End-user Split
- Sleep Laboratories, Clinics & Hospitals
- Home Care Settings/Individuals
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The key stakeholders in the Sleep Apnea Devices market include:
- Senior Management
- End User
- Finance/Procurement Department
- R&D Department
Frequently Asked Questions (FAQs) of Sleep Apnea Devices Market:
Q1. What is the total market value of Sleep Apnea Devices Market report?
Q2. Which are the top companies holding the market share in Sleep Apnea Devices Market?
Q3. Which are the largest regions for this Market?
Q4. What is the leading technology of Sleep Apnea Devices Market?
Q5. What are the major drivers for this specific Market?
Q6. What are the upcoming key trends in the Sleep Apnea Devices Market report?
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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.
Reasons to Buy the Report - The report provides insights on the following pointers:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall sleep apnea devices market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (large pool of undiagnosed sleep apnea patients, favorable reimbursement and financial aid for sleep apnea devices and therapies, growing awareness of effects of untreated sleep apnea, growing usage of oral appliances, and increasing number of companies venturing into the sleep apnea devices and oral appliances market), restraints (high cost of CPAP machine, complex referral pathways and long waiting periods, alternative therapies and medications), opportunities (growing demand for home sleep apnea tests, increasing focus on telemedicine, mHealth, and AI, emerging markets), and challenges (poor compliance associated with CPAP) influencing the growth of the sleep apnea devices market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the sleep apnea devices market.
- Market Development: Comprehensive information about lucrative markets – the report analyses the sleep apnea devices market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the sleep apnea devices market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like ResMed (US), Koninklijke Philips N.V. (Netherlands), Fisher & Paykel Healthcare (New Zealand), among others in the sleep apnea devices market strategies.
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