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The sleep apnea devices market was estimated to be USD 3652.00 million in the year 2020 and the market is expected to witness a CAGR of 6.1% to reach USD 5209.82 million by the year 2026 during the forecast period.
The COVID-19 pandemic is expected to have a positive impact on the sleep apnea devices market. According to 'Strausz S, Kiiskinen T, Broberg M, et al Sleep apnoea is a risk factor for severe COVID-19' published in January 2021 in the BMJ Open Respiratory Research, patients with Obstructive Sleep Apnea (OSA) had a 2.93 times higher risk to be hospitalized when affected by COVID-19 than non-OSA individuals. The study also suggested that in the assessment of patients who were suspected or confirmed with COVID-19 infection, Obstructive Sleep Apnea should be recognized as one of the comorbidity risk factors for developing a severe form of the disease. According to another study published in September 2020 in Springer titled 'Obstructive Sleep Apnea and Risk of COVID-19 Infection, Hospitalization and Respiratory Failure', the patients in the study with Obstructive Sleep Apnea experienced around an eight-times greater risk for COVID-19 infection as compared to a similar aged population who were receiving care in a major, racially, and socioeconomically diverse healthcare system. In patients who had contracted COVID-19 infection, Obstructive Sleep Apnea was associated with an increased risk of hospitalization and was found to have approximately double the risk of developing respiratory failure. Thus, due to the higher risk of developing Obstructive Sleep Apnea, there is likely to be a demand for sleep apnea devices which helps to alleviate the disorder. This isexpected to affect market development in a positive manner.
The major factors that are driving the market include the increasing incidences of sleep apnea, an increase in the geriatric population, an increase in the prevalence of obesity and hypertension, and increasing awareness among the patient population in developing countries. Ageing is the major factor that is driving the market growth for sleep apnea devices. Elderly people are most at risk for developing this disorder. According to the data from World Population Prospects: The 2019 Revision, the number of older people, those aged 60 years or above, is expected to more than double by 2050 and more than triple by 2100, globally, rising from 962 million in 2017 to 2.1 billion in 2050 and 3.1 billion in 2100. Globally, the population group aged 60 years or over is registering faster growth rates than all younger age groups.
Similarly, according to the United nations department of Economics and Social 2019 report, it was estimated that by the year 2050, one in six people around the world will be over age 65 years old (16%), up from 1 in 11 in the year 2019 (9%). By the year 2050, 1 in 4 persons living in Europe and Northern America could be aged 65 or over that. In the year 2018, for the first time in history, persons aged 65 or above outnumbered children under five years of age globally. The number of persons aged 80 years and above is projected to be the triple, from 143 million in the year 2019 to approximately 426 million in 2050. Thus, the increase in geriatric population is expected to have positive effect on market growth.
According to sleepassociation.org, it is known that obstructive sleep apnea (OSA) is a prevalent condition, which affects up to 20% of the world population. It is a serious and life-threatening sleep illness that usually goes undiagnosed and untreated. However, various government initiatives are helping patients who suffer from OSA. For instance, in the United States, the American Sleep Apnea Association (ASAA) was founded in 1990, which is a non-profit organization that promotes awareness regarding sleep apnea, works for continuing improvements in treatments for this serious disorder, and advocates for the interests of sleep apnea patients. All these factors are boosting the market growth too.
Scope of the Report
Sleep apnea is a serious sleep disorder, in which breathing repeatedly stops and starts. There are three main types of sleep apnea, obstructive sleep apnea, central sleep apnea, and complex sleep apnea syndrome.
The Sleep Apnea Devices Market is segmented by Diagnostic Devices (Polysomnography Devices (PSG), Pulse Oximeters, and Actigraphy Devices), Therapeutic Devices (Positive Airway Pressure (PAP) Devices, Oxygen Devices, Oral Appliances, Adaptive Servo Ventilation (ASV) Devices and Masks and Accessories), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.
|By Diagnostic Devices|
|Polysomnography Devices (PSG)|
|By Therapeutic Devices|
|Adaptive Servo Ventilation (ASV) Devices|
|Masks and Accessories|
Key Market Trends
Pulse Oximeters are Expected to Grow with Highest CAGR in the Diagnostic Devices Category
Pulse oximeters are used extensively in the measurement of blood hemoglobin oxygen saturation. They are used to measure blood hemoglobin oxygen saturation continuously over time in a relatively non‐invasive way. Due to their convenience, they have become an almost ubiquitous instrument in hospitals and healthcare institutions. The application of pulse oximetry to investigate and diagnose obstructive sleep apnoea in adults and children consists of different practices. When pulse oximeters are used as a part of an overnight polysomnogram (PSG), the patterns in the oximetry data can be interpreted in the context of events in other physiological channels, potentially allowing detailed characterization of the pathophysiology.
Medtronic manufactures a pulse oximeter called Nellcor portable SpO2 patient monitoring system, PM10N. This device is ideal for both instant checks and continuous monitoring in various healthcare and also home use settings. Its ergonomic shape and simple design make it intuitive to use and simple to operate. The availability of these types of devices is a major reason why the market is expected to see growth.
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North America Dominates the Market and Expected to continue its Dominance through the Forecast Period
North America currently dominates the market for sleep apnea devices and is expected to continue this trend during the forecast period. The region is expected to see robust growth now and in the future, due to the high incidence of sleep-disordered breathing (SDB) and rising aging population in the region. The United States holds the majority of the market in the North American region. According to the American Sleep Association, in the year 2018, it was estimated that approximately 50-70 million adult population in the United States were found to have a sleep disorder, 37.9% were reported to be falling asleep during the day unintentionally, 48% were reported to have snoring disorders, and 4.7% were reported to be nodding off while driving. Approximately 25 million adults in the United States have obstructive sleep apnea. Insomnia is the most common specific sleep disorder, with short-term issues reported by about 30% of adults and chronic insomnia by 10%.
According to Sleep Zone, it was estimated that about 22 million Americans suffer from moderate to severe sleep apnea, out of which, approximately 3-7% of men and 2-5% of women were found to have had sleep apnea in 2018 in the United States.
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The sleep apnea devices market is highly competitive and consists of several major players, across the world. Further, with rising technological advancements and product innovations, mid-size and small scale companies are increasing their market presence by introducing new devices into the market with competitive prices. Companies, like Resmed, Fisher & Paykel Healthcare Limited, and Invacare Corporation, hold substantial shares in the market.
In August 2020, Nihon Kohden announced the launch of Polysmith 12 polysomnography software which has a full-featured database that can be used to access patient data, customized reports, administrative analyses, in-lab and Home Sleep Apnea Testing (HSAT) records.
In February 2020, Fisher & Paykel Healthcare Corporation Limited launched the F&P Evora, which is a nasal mask that is used for the treatment of obstructive sleep apnea (OSA).
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Awareness Among the Patient Population in the Developing Countries
4.2.2 Increase in Prevalence of Obesity and Hypertension
4.2.3 Upcoming Technological Advancements
4.3 Market Restraints
4.3.1 High Cost of Cpap Machines
4.4 Industry Attractiveness- Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Diagnostic Devices
5.1.1 Polysomnography Devices (PSG)
5.1.2 Pulse Oximeters
5.1.3 Actigraphy Devices
5.2 By Therapeutic Devices
5.2.1 Positive Airway Pressure (PAP) Devices
18.104.22.168 Continuous Positive Airway Pressure (CPAP) Devices
22.214.171.124 Bi-level Positive Airway Pressure (BiPAP) Devices
5.2.2 Oxygen Devices
126.96.36.199 Oxygen Concentrators
188.8.131.52 Portable Oxygen Concentrators
184.108.40.206 Liquid Portable Oxygen
5.2.3 Oral Appliances
5.2.4 Adaptive Servo Ventilation (ASV) Devices
5.2.5 Masks and Accessories
5.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
5.3.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Fisher & Paykel Healthcare Limited
6.1.2 Koninklijke Philips NV
6.1.3 Invacare Corporation
6.1.4 Natus Medical Incorporated
6.1.6 Cadwell Laboratories Inc.
6.1.7 Vyaire Medical Inc.
6.1.8 GE Healthcare
6.1.9 Nihon Kohden Corporation
6.1.10 Teleflex Incorporated
6.1.12 Oventus Medical
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Sleep Apnea Devices Market market is studied from 2018 - 2026.
What is the growth rate of Sleep Apnea Devices Market?
The Sleep Apnea Devices Market is growing at a CAGR of 7.5% over the next 5 years.
Which region has highest growth rate in Sleep Apnea Devices Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Sleep Apnea Devices Market?
North America holds highest share in 2020.
Who are the key players in Sleep Apnea Devices Market?
- Fisher & Paykel Healthcare Limited
- Koninklijke Philips NV
- Invacare Corporation
- Natus Medical Incorporated
Are the major companies operating in Sleep Apnea Devices Market.