Sleep Apnea Devices Market, Qualitative Insights, Key Enhancement, Share and Forecast 2024

The global sleep apnea devices market is growing at a significant rate due to the escalating occurrence of sleep apnea and increasing lifestyle associated diseases. Different types of products contributed to the sleep apnea devices market size. The market has witnessed a high demand for diagnostic devices over the last few years, due to mounting alertness about the harmful consequences of sleep disorder and mounting government and private organizations schemes regarding sleep disorder.

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There are two types of devices, diagnostic devices, and therapeutic devices. Of both therapeutic device account for the major share in the sleep apnea devices market, due to increased diagnosis and mounting alertness about the harmful consequences of sleep apnea.

The positive airway pressure device (PAP) segment account for the major share in the sleep apnea therapeutic device market. The oral appliance segment is expected to grow at the fastest rate due to the advantage of oral appliances over other devices and increasing issues associated with PAP compliance.

The global sleep apnea devices market has also been segmented by end-user into hospitals & sleep laboratories, and homecare. The homecare category is expected to exhibit faster growth in demand for sleep apnea devices in the market due to the increasing number of patients undergoing sleep testing in at hospitals and sleep laboratories.

The huge number of undiagnosed sleep apnea patients, upsurge use of oral appliances, mounting alertness about the harmful consequences of untreated sleep apnea, and escalating occurrence of sleep apnea due to increasing lifestyle associated diseases such as obesity are the primary growth drivers for sleep apnea devices market. For instance, according to the World Health Organization (WHO) in 2016, more than 1.9 million adults aged 18 years and older were overweight and 650 million were obese. In addition, approximately 2.8 million people are dying each year due to obesity and overweight.

North America is the largest sleep apnea devices market as the region has high growth of home sleep testing devices, technologically advanced devices, and release of grants and financed by private and government institutions to encourage alertness of sleep apnea.

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Asia-Pacific is observed to witness the fastest growth in the market as the region comprises of the largest population. In addition, the escalating occurrence of sleep apnea and initiatives by government and private organizations to establish alertness regarding sleep disorder is also creating a positive impact on the sleep apnea devices industry growth in the region.

Key players in the sleep apnea devices market are investing in the development of innovative and advanced products, which is strengthening their position in the market. In March 2018, Philips announced the opening of Southeast Asia’s first Sleep and Respiratory Education Center in Singapore, to provide free sleep and respiratory care training. Koninklijke Philips, BMC Medical, Fisher & Paykel Healthcare, Somnomed, Compumedics, Löwenstein Medical, Whole You, Resmed, Drive Devilbiss Healthcare, Braebon Medical are the key players offering sleep apnea devices products.

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