With Sleep Apnea Incidences on the rise, Global Sleep Apnea Therapeutics and Diagnostics Market to record Substantial Growth

According to Inkwood Research, the Global Sleep Apnea Therapeutics and Diagnostics Market is projected to record a CAGR of 6.78% in terms of revenue during the forecasting years of 2021-2028.

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Sleep apnea is a sleep disorder wherein breathing stops and starts intermittently. The primary types of sleep apnea include complex sleep apnea syndrome, central sleep apnea, and obstructive sleep apnea. The symptoms include morning headache, irritability, loud snoring, waking up with a dry mouth, restless sleep, etc.

Incidences of Sleep Apnea Drive Market Growth

Among the three types of sleep apnea, the most common form is obstructive, also known as OSA, caused by lifestyle changes. As per the Sleep Apnea Organization, over 22 million Americans had sleep apnea in 2017, with 80% of moderate to severe sleep apnea cases undiagnosed. Also, more than 100 million across the globe have sleep apnea. It impacts almost 3-7% of men and 2-5% of women, with statistics projecting how 1 in 5 adults suffers from a breathing disorder.

Sleep apnea can impact any age group. However, the National Sleep Foundation statistics show that it occurs mostly in the population aged 55-60. Obstructive sleep apnea affects 2% of children and 6% of adults. As per the Sleep Judge stats, almost 40% of people with OSA are likely to have diabetes. It has also been linked to insulin resistance. It mostly affects obese people along with Type 2 diabetes.

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Fastest Growing End-User: Hospitals & Sleep Laboratories

Sleep laboratories are specialized clinics where sleep studies are conducted to diagnose sleep apnea. In addition, the laboratories also provide services like teleconsultations, in-lab titration of PAP devices, and clinic consultations. Also, with the growing prevalence of sleep apnea, several hospital systems like UNC School of Medicine (US), and All India Institute of Medical Sciences (India), and USA Health (US) have included a sleep medicine division that conducts sleep studies.

Fastest Growing Region: Asia-Pacific

The OSA diagnosis rate in densely populated countries like China and India is less than 1% in the Asia-Pacific. The prevalence of several mental health disorders and rising occupational stress increases the risk of sleep disorders. The other factors influencing the market growth include the growing geriatric population, increasing healthcare expenditure, and technological advancements.

The competitive rivalry is moderately high, with existing players competing based on product innovations and technology. Medtronic Plc, Fisher & Paykel Healthcare Corporation Limited, GE Healthcare, Cadwell Industries Inc, Smiths Medical Inc, etc., are among the main market players.

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This release was published on openPR.