Dublin, Nov. 08, 2023 (GLOBE NEWSWIRE) -- The "Global Sleep Apnea Market Analysis & Forecast to 2023-2033: Market By Product; By End-user; and by Region" report has been added to ResearchAndMarkets.com's offering.
The global sleep apnea market is projected to grow from USD 6.25 billion in 2023 to USD 13.8 billion by 2033, at a CAGR of 7.47%. This growth is underpinned by several driving factors:
- Increasing prevalence of sleep apnea in the aging population
- Growing awareness and early-stage diagnosis
- Technological advancements in therapeutic devices
- Higher adoption of CPAP machines
Market Dynamics
Key factors influencing the market include:
- Elderly Demographic: Higher rates of sleep apnea in the aging population increase the need for effective treatments.
- Lifestyle Factors: The rise in obesity and hypertension linked to lifestyle changes contributes to the prevalence of obstructive sleep apnea (OSA).
- Technological Innovations: New product launches, such as Fisher & Paykel's Evora Full mask, provide more options for patients and healthcare providers.
- Home Care Adoption: The approval of home-use devices like Sunrise's portable sleep apnea testing device facilitates market growth.
Market Segmentation Analysis
- By Product: Therapeutic devices lead the product segment due to the surge in sleep disorder cases and technological advancements in devices. Sleep apnea masks are expected to grow rapidly due to their increasing adoption.
- By End-user: Home care settings and individuals generate significant revenue with user-friendly and regulatory-approved products. Sleep laboratories and hospitals are expected to grow due to the rising number of sleep technicians and improved reimbursement policies.
- By Region: North America holds the largest market share, with initiatives like Philips' DreamWear Silicone Pillows expansion. Asia Pacific is expected to have the fastest growth due to increasing demand and technological advancements.
Competitive Landscape
Companies such as ResMed, Phillips Respironics, and Fisher & Paykel Healthcare Limited are prominent players, with profiles included in the report.
The sleep apnea market report is a comprehensive analysis of the market's current state and future outlook. It offers stakeholders insights into product trends, market growth, and competitive dynamics. This report serves as a valuable resource for sleep apnea manufacturers, healthcare providers, and investors looking to understand and capitalize on market opportunities.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2022 - 2033 |
| Estimated Market Value (USD) in 2022 | $6.25 Billion |
| Forecasted Market Value (USD) by 2033 | $13.8 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
For further information on the sleep apnea market forecast, visit https://www.researchandmarkets.com/r/nihfiq
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