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HEALTHCARE & PHARMACEUTICAL

Sleep Apnea Devices Market Analysis by Disease Type (Obstructive, Central, and Complex Sleep Apnea Syndrome); by Product Type (Diagnostic Devices, Therapeutic Devices and Sleep Apnea Masks); by Patient Demographics (Pediatric, Adult, and Geriatric); by End User (Hospital, Diagnostics Centers, Ambulatory Care Centers, Specialty Care Centers, and Home Healthcare); and by Distribution Channel (Direct Tender, and Retail Sales) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • ResMed launches AirSense 11 PAP series, advancing digital health in sleep apnea treatment. New digital features designed to make therapy setup and nightly use easier for patients.
  • Nihon Kohden announced the launch of POLYSMITH 12 polysomnography software, driven features that offer sleep specialists improved workflow, analysis and outcomes.

Global Sleep Apnea Devices Market Size, Forecast and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~7%

Base Year Market Size (2022)

 ~ USD 9 Billion

Forecast Year Market Size (2033)

~ USD 23 Billion

The global sleep apnea devices market is estimated to garner a revenue of USD 23 Billion by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 9 Billion in the year 2022. Market growth is primarily driven by increased prevalence of chronic conditions which is expected to increase the load of OSA. Comorbidities such as diabetes, hypertension, cardiovascular diseases, and obesity are commonly associated with OSA. According to World Health Organization, globally, around 17.9 million people cave in to death to cardiovascular problem.

Sleep-Apnea-Devices-Market-Analysis

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Sleep Apnea is a sleeping disorder in which the patient faces, pauses in breathing or periods of shallow breathing during sleep occur more often than normal, and it can happen numbers of time in a night. Without treatment, sleep apnea may increase the risk of heart attack, stroke, diabetes, heart failure, irregular heartbeat, and obesity. According to World Health Organization, more than 1 billion people worldwide are obese – 650 million adults, 340 million adolescents and 39 million children.

Global Sleep Apnea Devices Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Demand for Home Sleep Apnea Tests – According to data from the American Sleep Association, nearly 50 million to 70 million U.S. adults have a sleep disorders, of which, 25 million are suffering from obstructive sleep apnea.
  • Rising Prevalence of Obesity to Increase Diagnosis Rate for Sleep Apnea – According to the article published by American Heart Association, Inc., several cross-sectional studies have estimated that significant sleep apnea is present in 40% of the obese population, and 70% of the OSA patients are obese.
  • Advanced Innovation in Technology for Sleep Apnea Devices - As per the data by the World Bank, 2.33% of the global GDP was spent on research and development activities in 2019, which increased to 2.63% in 2020.
  • Increasing Access to Health Care and Health Expenditures- As per the data by the World Bank, 9.83% of the global GDP was spent on health expenditure in 2019.

Challenges

  • High Cost of Devices and Long Waiting Periods
  • Lack of Patient Compliance to Device Therapies

The global sleep apnea devices market is segmented and analyzed for demand and supply by type into therapeutic devices, diagnostic devices, and sleep apnea masks. Out of these, the sleep apnea masks are anticipated to hold the largest market size by the end of 2033. The segment growth is primarily attributed to the rising prevalence of comorbidities associated with obstructive sleep apnea (OSA), and rising adoption rates of CPAP machines in disease management. As per research, it is estimated that 936 million adults aged 30-69 years (men and women) have mild to moderate obstructive sleep apnea and over 425 million adults aged 30-69 years have moderate to severe obstructive sleep apnea globally.

Major Macro-Economic Indicators Impacting the Market Growth

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Healthcare-Expenditure-Per-Capita

Global Sleep Apnea Devices Market Regional Synopsis

Regionally, the global sleep apnea devices market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033. Owing to the growing geriatric population and rising prevalence of diseases such as cardiovascular diseases, cancer, hypertension, and diabetes. According to International Diabetes Federation (IDF), in 2021, 90 million adults were diagnosed with diabetes in South-East Asia region.

Sleep-Apnea-Devices-Market-Scope

The global sleep apnea devices market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global sleep apnea devices market includes the following segments:

By Disease Type

  • Obstructive Sleep Apnea Syndrome
  • Central Sleep Apnea Syndrome
  • Complex Sleep Apnea Syndrome

By Product Type

  • Diagnostic Devices
  • Therapeutic Devices
  • Sleep Apnea Masks

By Patient Demographics

  • Pediatric
  • Adult
  • Geriatric

By End User

  • Hospital
  • Diagnostics Centers
  • Ambulatory Care Centers
  • Specialty Care Centers
  • Home Healthcare

By Distribution Channel

  • Direct Tender
  • Retail Sales

Top Featured Companies Dominating the Global Sleep Apnea Devices Market

  • Philips Respironics
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • BMC Medical Co. ltd.
  • Curative Medical Inc.
  • SOMNOmedics GmbH
  • Itamar Medical Ltd.
  • Nihon Kohden Corporation
  • ResMed INC.
  • Natus Medical Incorporated
  • Invacare Corporation
  • Compumedics Limited.

 

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