Global Sleep Apnea Devices Market Size to Reach USD 12.88 Billion 2030 | Emergen Research

Vancouver, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Anticipated to attain a value of USD 12.88 billion by 2030, the global market for sleep apnea devices is poised to grow steadily with a compound annual growth rate (CAGR) of 6.9%, as per the latest analysis conducted by Emergen Research. This growth is primarily propelled by the expanding patient cohort characterized by undiagnosed sleep apnea cases. Notably, Obstructive Sleep Apnea (OSA) stands as the most prevalent form of sleep-disordered breathing, affecting around 37% of men and 50% of women. However, a staggering 80% of individuals grappling with OSA remain undiagnosed, hence devoid of treatment.

It's noteworthy that certain demographics, including African Americans, Hispanics, and Pacific Islanders, exhibit a higher susceptibility to sleep apnea compared to the white population. This growing pool of undiagnosed sleep apnea cases, coupled with the escalating prevalence of the condition, has driven an increased demand for sleep apnea devices.

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The market revenue growth of sleep apnea devices faces a significant impediment in the form of the high cost associated with CPAP equipment. The current market encompasses a variety of CPAP devices, each with its own distinct features. While there isn't a fixed price range for CPAP machines, the typical entry point for these devices is around USD 400.00. It's worth noting that the employment of a CPAP machine necessitates the use of multiple supplementary components, encompassing a hose, mask, and even a humidifier.

Moreover, the acquisition of CPAP devices mandates the possession of a prescription, thereby placing limitations on their accessibility and consequently driving up their cost. Given the chronic nature of sleep apnea conditions, CPAP devices entail consistent maintenance. As a result, the growth of market revenue for sleep apnea devices encounters constraints due to the elevated expenses associated with CPAP machines.

Furthermore, the financial considerations are compounded by the ongoing expenses linked to CPAP devices. The majority of sleep apnea cases tend to be chronic, necessitating continuous and long-term usage of these devices. This prolonged usage entails regular upkeep, adjustments, and potential replacements, all of which contribute to the overall cost of ownership.

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Scope of Research

Major Companies and Competitive Landscape

The global sleep apnea devices market is fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective sleep apnea devices services. Some major players included in the global sleep apnea devices market report are:

• ResMed
• Koninklijke Philips N.V.
• Fisher & Paykel Healthcare Limited
• Inspire Medical Systems, Inc.
• SomnoMed.com
• Oventus
• Compumedics Limited
• Löwenstein Medical Technology GmbH + Co. KG
• Drive DeVilbiss International
• BMC

Strategic Development

• On 18 October 2021, Candid announced a strategic partnership with Vivos Therapeutics, a firm that treats obstructive sleep apnea, to give patients a holistic whole-mouth solution for OSA. This strategic partnership will provide a solution for diagnosing and treating OSA in adult patients, as well as orthodontic therapy from the same provider network.
• On 31 December 2021, AppYea, a medical device technology company,  completed acquisition of SleepX, an innovative medical device company dedicated to creation of SleepX's flagship product DreamIT. This is an uncompetitively precise wearable monitoring solution to treat sleep apnea as well as snoring and fundamentally improve quality of life.

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Some Key Highlights From the Report

• The therapeutic devices segment is expected to account for largest revenue share during the forecast period. This is attributed to increasing number of reported patients seeking treatment in sleep clinics, including CPAP therapy and design of new digital technologies, which are intended to make therapy setup and night usage easier for patients, while also assisting physicians in providing care more effectively. For example, on 16 August 2021, ResMed, a global innovator in digital health as well as sleep apnea treatment, launched AirSense 11, the company's next-generation Positive Airway Pressure (PAP) device designed to assist hundreds of millions of individuals worldwide with sleep apnea in establishing and maintaining treatment for managing and treating obstructive sleep apnea.
• The home care settings/individuals segment is expected to register a higher revenue share during the forecast period attributed to increased investments by key market players. For example, on 03 October 2022, Acurable, a medical device business based in the UK, announced a USD 10.8 million Series A financing round led by Kibo Ventures. Mundi Ventures, Comprador Holdings, and Kindred Capital co-led the fund. This funding will be used to speed international growth of AcuPebble SA100, the company's first home sleep-testing gadget that allows users to identify and monitor obstructive sleep apnea. Thus, owing to aforementioned factors, the home care settings/individuals segment is significantly driving market revenue growth during the forecast period.

• The North America market is expected to account for largest revenue share during the forecast period. This is attributed primarily to rising cases of sleep apnea, presence of significant market participants in this region, and improving awareness and widespread use of oral sleep apnea appliances. For example, on 09 February 2021, GoPAPfree, announced the debut of its new personalized oral appliance treatment equipment, which provides an efficient and agreeable alternative to CPAP therapy for obstructive sleep apnea with at-home shaping and implementation.

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Emergen Research has segmented the global sleep apnea devices market based on type, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019–2030)
  • Therapeutic Devices
    • • Positive Airway Pressure Devices
        • Automatic Positive Airway Pressure Devices
        • Continuous Positive Airway Pressure Devices
        • Bilevel Positive Airway Pressure Devices
      • Facial Interfaces
        • Masks
          • • • Full-Face Masks
              • Nasal Pillow Masks
              • Nasal Masks
        • Cushions
      • Accessories
      • Oral Applications
        • Mandibular Advancement Devices
        • Tongue-Retaining Devices
      • Adaptive Servo-Ventilators
      • Others
  • Diagnostic Devices
    • • Polysomnography Devices
        • Ambulatory PSG Devices
        • Clinical PSG Devices
      • Home Sleep Testing Devices
      • Oximeters
        • Fingertip Oximeters
        • Handheld Oximeters
        • Wrist-Worn Oximeters
        • Tabletop Oximeters
      • Actigraphy Systems
      • Sleep Screening Devices
• End-Use Outlook (Revenue, USD Billion; 2019–2030)

• • Sleep Laboratories & Hospitals
  • Home Care Settings/Individuals

• Regional Outlook (Revenue, USD Billion; 2019-2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. UK
    3. France
    4. Italy
    5. Spain
    6. Sweden
    7. BENELUX
    8. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Israel
    5. Rest of Middle East & Africa

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