DUBLIN, Dec. 29, 2022 (GLOBE NEWSWIRE) — Global Sleep Apnea Devices Market by Device Type, End User and Region – Predictive Analysis 2022-2028 report added of ResearchAndMarkets.com Recruitment.
The global sleep apnea device market is valued at USD 3.85 billion in 2021 and is projected to reach USD 598 million by 2028, growing at a CAGR of 5.9% over the forecast period (2022-2028).
The rising incidence of OSA has been attributed to lifestyle changes, an aging population, and an increase in chronic diseases. Due to poor OSA symptoms and general lack of knowledge, the increasing prevalence of apnea in the elderly population remains undiagnosed. The increased life expectancy of the world’s elderly population is expected to increase the prevalence of sleep disorders.
The global sleep apnea device market is segmented based on device type, end user, and region. Based on device type, the global sleep apnea device market is segmented into therapeutic and diagnostic devices. Based on end-user, the global sleep apnea device market is segmented into sleep labs and clinics and home care and other settings. Based on region, it is categorized into North America, Europe, Asia Pacific, Latin America, and MEA.
In 2020, between 13.0% and 32.0% of the world’s elderly population will be affected by OSA, which is becoming more common. As a result, the use of sleep apnea devices is projected to increase due to the growing geriatric population and increased awareness. Sleep apnea is becoming more common due to lifestyle changes, increased prevalence of obesity and hypertension.
CPAP machines are the most popular treatment for sleep apnea patients.
These devices come in various sizes and designs. Prices vary by type, brand and features. However, retail prices for CPAP machines can range from $250 to over $1,000.
This hinders market expansion. Therefore, companies should work with experts to innovate reasonably priced equipment.
Many multinationals and new entrants to the sleep apnea market have already begun reassessing their supply chains to ease concentration on a few countries during the ongoing COVID-19 epidemic. We are in the process of transitioning our business operations. However, the lack of insurance coverage for OSA and related therapeutic and diagnostic devices hinders market expansion in emerging economies like India. Therefore, in order to promote patient acceptance of these devices, medical technology companies in the sleep apnea device industry should invest in marketing and advertising. These developments will force insurance companies to cover her OSA and related comorbidities such as sleep apnea.
|Estimated market value in 2021 (USD)||$3.85 billion|
|Projected Market Value (USD) to 2028||$5.98 billion|
|compound annual growth rate||5.9%|
- Koninklijke Philips NV (Amsterdam, Netherlands)
- Oventus, Indolopilly (Australia)
- Cadwell Industries, Inc. (Kennewick, USA)
- ResMed (San Diego, USA)
- Fisher & Paykel Healthcare Limited (Auckland, New Zealand)
- Natus Medical Incorporated (Pleasanton, USA)
- SomnoMed (Sydney, Australia)
- DeVilbiss Healthcare LLC (Pennsylvania, USA)
- Braeburn Medical Corporation (Ontario, Canada)
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Global Sleep Apnea Devices Market