According to a recent Growth Plus Reports study, the global sleep apnea devices market is estimated to hit US$ 12.86 billion by 2030, with a revenue CAGR of 6.50%. The study examines the important strategies, drivers and prospects, competitive circumstances, shifting market dynamics, market size, data and forecasts, and important investment regions.
Key Takeaways:
- The increasing prevalence of obesity and hypertension will drive market revenue growth.
- Increasing awareness among the population will drive demand for sleep apnea devices.
- North America dominates the global sleep apnea devices market.
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Sleep Apnea Devices Market Scope
| Report Attribute | Details |
| Market size value in 2021 | US$ 7.3 billion |
| Revenue forecast in 2030 | US$ 12.86 billion |
| Growth Rate | CAGR of 6.5% from 2022 to 2030 |
| Base year for estimation | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | Type, End User, and Region. |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Market Drivers
The rising undiagnosed sleep apnea patient pool, an increasing geriatric population, and the growing number of patients suffering from obesity and hypertension will drive the revenue growth of the sleep apnea devices market. Furthermore, growing awareness is expected to boost the market revenue growth rate. Apart from this, technological advancements such as the integration of artificial intelligence (AI) to improve devices and new product launches are expected to support the market’s revenue growth.
Market Segmentation
Growth Plus Reports has analyzed the global sleep apnea devices market from three perspectives: Type, End User, and Region.
Type Segmentation: Based on the type, the global sleep apnea devices market is segmented into diagnostic and therapeutic devices. The therapeutic devices segment dominates the market with the largest revenue share because of an increasing patient pool, rising awareness, increasing adoption of these devices, and technological advancements.
End-User Segmentation: Based on the end-user, the global sleep apnea devices market is segmented into hospitals & sleep laboratories, and home care settings. The hospitals & sleep laboratories segment dominates the market because of the increasing number of sleep labs and the rising number of diagnostic tests.
The home care segment is likely to register significant revenue growth in the global sleep apnea devices market because of increasing discomfort at sleep centers, the lack of a home-like setting, and the simplicity and ease of use of these devices.
Regional Growth Dynamics
Based on the region, the global sleep apnea devices market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global sleep apnea devices market with the largest revenue share. A large patient pool suffering from sleep disorders, availability of favorable reimbursement policies, increasing investments for research and development activities, and the presence of several key market players in this region. are the major factors responsible for North America’s significant revenue share in the global market.
Competitive Landscape
The key players in the global sleep apnea devices market are:
- ResMed Inc.
- Becton, Dickinson & Company
- Koninklijke Philips N.V.
- Nihon Kohden Corporation
- Invacare Corporation
- Fisher & Paykel Healthcare Limited
- Löwenstein Medical Technology GmbH + Co. K.G.
- Natus Medical Incorporated
- BMedical Pty Ltd.
- BMC Medical Co., Ltd.
- SomnoMed GmbH
- Compumedics Limited.
- Oventus Medical Ltd.
- Somnetics International, Inc.
The market for sleep apnea devices is moderately competitive, with several multinational companies. Major competitors engage in technological advancements, R&D, and mergers and acquisitions to enhance their market position.
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Recent developments:
- ResMed and Alphabet’s life sciences subsidiary Verily announced the launch of Primasun in November 2022, an end-to-end solution to assist employers and healthcare professionals in identifying people at risk for complicated sleep problems.
- Airway Management announced the October 2022 launch of flexTAP, a premium lab-made appliance for treating patients with snoring and mild to moderate obstructive sleep apnea.
- Transcend Micro, manufactured by Somnetics International, was launched in July 2022 by CPAP Store USA, a major authorized dealer in the United States.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecasted Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trend (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL SLEEP APNEA DEVICES MARKET – ANALYSIS & FORECAST, by TYPE
- Diagnostic Device
- Polysomnography Devices
- Oximeters
- Actigraphy Systems
- Diagnostic Device
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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