Sleep Apnea Devices Market Future Scope with Upcoming Opportunities by Top Key Players

In 2017, the global sleep apnea devices market attained a value of $4.4 billion and is predicted to advance at a 7.7% CAGR during the forecast period (2018–2023). The market is growing due to the rising usage of portable sleep apnea devices, improving healthcare facilities, increasing government support for start-up companies, rising prevalence of obstructive sleep apnea (OSA) and co-morbidities, and surging geriatric population. Different sleep apnea devices aid in reducing interruption in breathing while a person is asleep. In terms of product, the market is divided into therapeutic and diagnostic devices.

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Between the two, the therapeutic division dominated the sleep apnea devices market in 2017 and is further projected to grow at a faster CAGR of 7.9% during the forecast period. The reason for this is the rising number of OSA cases around the world. The division is further categorized into adaptive servo-ventilators (ASV), facial interfaces, oral appliances, positive airway pressure (PAP) devices, and others (which include stimulators, hypoglossal pacemakers, nasal stents, and infusion pumps). Among these, the PAP devices accounted for the major share (32.1%) of the market in 2017.

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Among the different regions, namely Europe, Middle East & Africa (MEA), North America, Asia-Pacific (APAC), and Latin America (LATAM), North America dominated the sleep apnea devices market in 2017, contributing a share of 49.3%, and is expected to retain its position during the forecast period. The reason for this is the increasing incidence of sleep disorders, rising awareness regarding sleep disorders and sleep hygiene, and investment of huge capital for developing technologically efficient devices. The APAC region is predicted to grow at the fastest pace during the forecast period.   

The surging prevalence for home health care is a key trend being witnessed in the sleep apnea devices market. The preference of people is shifting toward home health care from residential and acute in hospitals and other healthcare settings. Patients suffering from sleeping disorders have experienced improved quality of life, value-based treatment, and cost-effective treatments with the adoption of home health care. The rising availability and adoption of wearable devices, which monitor oxygen saturation, heartbeat, and pulse rate, are enhancing the efficiency of sleeping disorders’ treatments.

Hence, the market is growing due to the rising prevalence of OSA and increasing utilization of portable sleep apnea devices.  

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Created on Mar 26th 2020 05:37. Viewed 114 times.

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