Dublin, Aug. 20, 2024 (GLOBE NEWSWIRE) -- The "Sleep Apnea Devices Market Size, Share & Trends by products (Therapeutic (PAP (CPAP, APAP, BPAP)), Facial Interfaces, Oral Appliances, Accessories), Diagnostic Devices (PSG, Home Sleep Testing, Oximeters), Age Group, Gender Type, End User & Region - Forecasts to 2029" report has been added to ResearchAndMarkets.com's offering.
The sleep apnea devices market is valued at an estimated USD 6.5 billion in 2024 and is projected to reach USD 9.3 billion by 2029 at a CAGR of 7.3% during the forecast period.
Sleep apnea devices is widely used by sleep laboratories, clinics, hospitals and home users. Patients prefer non-invasive treatment methods, leading to increased use of devices like CPAP and BPAP machines. Emerging markets such as Asia Pacific region offer lucrative growth opportunities for sleep apnea devices market.
This research report categorizes the sleep apnea devices market by product (Therapeutic devices (PAP devices, facial interfaces, accessories, oral appliances, other therapeutic devices), Diagnostic devices (PSG Devices, home sleep testing devices, oximeters, actigraphy systems, sleep screening devices)), by end user (Sleep laboratories, clinics, and hospitals, and home care settings/ individuals), by age group, by gender and by region.
The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, opportunities, and challenges influencing the growth of the sleep apnea devices market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, key strategies, acquisitions, and agreements. New product & service launches and recent developments associated with the sleep apnea devices market. Competitive analysis of upcoming startups in the sleep apnea devices market ecosystem is covered in this report.
Therapeutic devices segment accounted for the highest growth rate in the sleep apnea devices market, by product, during the forecast period
The sleep apnea devices market is bifurcated into therapeutic devices and diagnostic devices. Sleep apnea therapeutic devices covers positive airway pressure (PAP) devices, facial interfaces (masks), accessories, oral appliances, and other therapeutic devices. Major factors driving the growth of this segment include improving diagnosis rate backed by home sleep tests leading to demand for therapeutic devices.
Home care settings/individuals segment accounted for the highest growth rate in the sleep apnea devices market, by end users, during the forecast period
The sleep apnea devices market is bifurcated into into sleep laboratories, clinics, and hospitals and home care settings/individuals. The growing preference for home healthcare solutions is driving the adoption of home-use sleep apnea devices. Better accessibility of home sleep apnea tests is key reason for greater diagnosis and subsequent treatment of sleep apnea impacting market growth.
Asia Pacific: The fastest-growing region sleep apnea devices market
The worldwide market for human identification is categorized into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC countries. Notably, the Asia Pacific region market is expected to register the highest growth rate during the forecast period, mainly due to the frequent product launches and regulatory approvals of new devices leading to market offerings in the region.
The report provides insights on the following:
- Analysis of key drivers (large pool of undiagnosed sleep apnea patients, favorable reimbursement and financial aid for sleep apnea devices and therapies, growing awareness about effects of untreated sleep apnea among patients, increasing usage of oral appliances among patients with mild to low-moderate sleep apnea, increased investments and funding to develop advanced sleep apnea products), restraints (high cost of CPAP machines and minimal insurance access in emerging economies, complex referral pathways, long waiting periods, and delayed diagnosis, and use of alternative therapies and medications for sleep apnea), opportunities (rising demand for sleep apnea tests as cost saving measures, increasing focus on telemedicine, mHealth, and artificial intelligence, growing focus of key sleep apnea device manufacturers toward emerging markets) and challenges (Poor patient compliance with CPAP therapy) influencing the growth of the sleep apnea devices market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product 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, untapped geographies, recent developments, and investments in the sleep apnea devices market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings of leading players like ResMed (US), Koninklijke Philips (Netherlands), and Fisher & Paykel Healthcare Limited (New Zealand).
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 367 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $6.5 Billion |
| Forecasted Market Value (USD) by 2029 | $9.3 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
Key Topics Covered:
Premium Insights
- Sleep Apnea Devices Market Overview
- Sleep Apnea Devices Market, by Region (2023-2028)
- North America: Sleep Apnea Devices Market, by Product and Country
- Sleep Apnea Devices Market: Geographical Growth Opportunities
Market Dynamics
Drivers
- Large Pool of Undiagnosed Sleep Apnea Patients Globally
- Favorable Reimbursement and Financial Aid for Sleep Apnea Devices and Therapies
- Growing Awareness About Effects of Untreated Sleep Apnea Among Patients
- Growing Usage of Oral Appliances Among Patients with Mild to Low-Moderate Sleep Apnea
- Rising Number of Companies in Sleep Apnea Devices and Oral Appliances Market
Restraints
- High Cost of CPAP Machines and Minimal Insurance Access in Developing Countries
- Complex Referral Pathways, Long Waiting Periods, and Delayed Diagnosis
- Alternative Therapies and Medications for Sleep Apnea
Opportunities
- Growing Demand for Home Sleep Apnea Tests as Cost-Saving Measure
- Increasing Focus on Telemedicine, Mhealth, and AI
- Increased Interest of Sleep Apnea Device Manufacturers Toward Emerging Markets
Challenges
- Poor Patient Compliance Associated with CPAP Therapy
Company Profiles
- Airway Management
- Apnea Sciences
- BMC Medical Co. Ltd.
- Braebon Medical Corporation
- Compumedics Limited
- Drive Devilbiss Healthcare
- Fisher & Paykel Healthcare Limited
- Inspire Medical Systems, Inc.
- Invacare Corporation
- Koninklijke Philips N.V.
- Livanova
- Lowenstein Medical Technology GmbH + Co. KG.
- Mpowrx Health & Wellness
- Myerson
- Natus Medical Incorporated
- Nidek Medical India
- Nihon Kohden
- Oventus Medical
- Panthera Dental
- Prosomnus Sleep Technologies
- Resmed
- Somnomed
- Tomed GmbH
- Vivos Therapeutics
- Whole You, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/bskuiy
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