Sleep Apnea Devices Market Future Scope Analysis Report 2021-2028

Sleep Apnea Devices Market Outlook 2028

• The global sleep apnea devices market was valued at US$ 7 Bn in 2020

• It is estimated to expand at a CAGR of 8.5% from 2021 to 2028

• The global sleep apnea devices market is expected to reach the value of US$ 14.7 Bn by the end of 2028

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Collaborative Agreements Help Innovate in Sleep Apnea Devices

Key players in the global sleep apnea devices market are engaged in meeting regulatory approvals, launching technologically advanced products, and acquisition & collaborative agreements with other companies.

These strategies are likely to fuel the growth of the sleep apnea devices market. Business expansion strategies adopted by players operating in the global sleep apnea devices market are innovating in 3D printed parts used to convert BiPAP (Bilevel Positive Airway Pressure) machines, generally used to treat sleep apnea or COPD, into ventilators.

Companies are entering into collaboration agreements to bring obstructive sleep apnea (OSA) treatment products directly to customers through sleep clinics in the U.S. They are introducing customizable oral appliance therapy devices, which hold potentials as an alternative to CPAP (continuous positive airway pressure) therapy in the U.S.

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eHealth Holds Potentials for Device Sales Post COVID-19 Pandemic

Telehealth and eHealth mobile apps are anticipated to transform the sleep apnea devices market post the COVID-19 pandemic period. However, participants in the market are addressing disruption for sales since elective medical procedures have been postponed indefinitely. Hence, companies are taking data-driven decisions to map volatile demand trends for sleep apnea devices.

Domestic and global companies are in the midst of rapid shift in supply chain planning, operations, and inventory management to address the impact of the pandemic. Nevertheless, companies are taking advantage of government stimulus packages to stay financially afloat. The demand for sleep apnea devices is projected to increase at a sluggish pace, due to the lockdown being enforced in most countries.

Lack of Insurance Coverage for Sleep Apnea Devices Hampers Market Growth

The most common treatment option for people with sleep apnea are CPAP devices. These machines are available in various sizes and styles. The price varies depending on the brand, type, and features. However, a CPAP machine can cost anywhere from US$ 250 to US$ 1,000 or more at retail. This is hampering market growth. Hence, companies should partner with experts to innovate in devices that are affordable.

On the other hand, in emerging markets such as India, the lack of medical coverage provided by public or private insurance companies tends to restrain the market growth in the region. Dearth of awareness about obstructive sleep apnea in emerging countries is expected to affect market growth during the forecast period. Hence, companies should focus on marketing sleep apnea devices to increase its acceptance, which, in turn, will encourage insurance companies to provide coverage for health issues pertaining to the OSA.

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High Prevalence of Sleep Apnea Patients Contributes to Market Growth

Sleep disorders, including sleep apnea, have emerged as a major public health concern in the U.S. Sleep apnea affects an estimated 22 million people in the U.S., with 80% of moderate and severe obstructive sleep apnea cases going undiagnosed. This is fueling the need of advertising on sleep apnea devices to make people aware about the serious health risks of OSA.

OSA, which accounts for the majority of cases, can lead to high blood pressure, chronic heart failure, atrial fibrillation, stroke, and other cardiovascular problems if left untreated. It is linked to type 2 diabetes and depression, and is a factor in a number of traffic accidents and accidents involving heavy machinery due to the persistent drowsiness experienced by many OSA patients before the disease is diagnosed and treated. Thus, med-tech companies in the sleep apnea devices market should capitalize on this opportunity to bolster manufacturing capabilities to increase the availability of machines.

Health Risks of OSA Fueling Demand for Sleep Apnea Devices

Obstructive sleep apnea is a prevalent disease wherein people continuously halt or reduce their breathing while sleeping. This leads to restless, fragmented sleep, which could cause symptoms such as morning headaches and daytime lethargy.

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OSA affects people of all ages; however, it is more common in people over the age of 60. The precise incidence is unknown; however, it is thought to be between 2% and 14%. Obstructive sleep apnea is linked to a number of health problems, including hypertension, coronary artery disease, cardiac arrhythmias, and depression. Obesity, one of the major sleep apnea risk factors, is on the rise, and contributes to the increase in prevalence of sleep apnea. Such trends are translating into revenue opportunities for med-tech companies in the sleep apnea devices market.

Sleep Apnea Devices Market: Overview

• According to Transparency Market Research's latest report on the global sleep apnea devices market for the historical period 2017-2028 and forecast period 2021-2028, rise in demand for home sleep apnea tests (HSATs) is projected to drive the global sleep apnea devices market during the forecast period.

Rise in Prevalence of Obstructive Sleep Apnea Disorder (OSA): Key Driver

• Obstructive sleep apnea is a prevalent disease, in which people continuously halt or reduce their breathing while sleeping. This leads to restless, fragmented sleep, which could cause symptoms such as morning headaches and daytime lethargy.

• Obstructive sleep apnea affects people of all ages; however, it is more common in people over the age of 60. The precise incidence is unknown; however, it is thought to be between 2% and 14%. Obstructive sleep apnea is linked to a number of health problems including hypertension, coronary artery disease, cardiac arrhythmias, and depression.

• Obesity, one of the major sleep apnea risk factors, is on the rise, and contributes to the increase in prevalence of sleep apnea.

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Large Number of Undiagnosed Sleep Apnea Patients

• Sleep disorders, including sleep apnea, have emerged as a major public health concern in the U.S. Sleep apnea affects an estimated 22 million people in the U.S., with 80 percent of moderate and severe obstructive sleep apnea cases going undiagnosed.

• OSA, which accounts for the majority of cases, can lead to high blood pressure, chronic heart failure, atrial fibrillation, stroke, and other cardiovascular problems if left untreated. It is linked to type 2 diabetes and depression, and is a factor in a number of traffic accidents and accidents involving heavy machinery due to the persistent drowsiness experienced by many OSA patients before the disease is recognized and treated.

High Cost of Sleep Apnea Devices
• The most common treatment option for people with sleep apnea is continuous positive airway pressure (CPAP) device

• These machines are available in various sizes and styles. The price varies depending on the brand, type, and features. A CPAP machine can cost anywhere from US$ 250 to US$ 1,000 or more at retail.

• Similarly, in emerging markets such as India, the lack of medical coverage provided by public or private insurance companies restrains the market in the region

• Lack of awareness about obstructive sleep apnea (OSA) in emerging countries is expected to hamper market growth during the forecast period

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Sleep Apnea Devices Market: Competition Landscape

• This report profiles major players in the global sleep apnea devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments

• The global sleep apnea devices market is highly fragmented, with the presence of a number of international as well as regional players
• Leading players operating in the global sleep apnea devices market are

o ResMed, Inc.
o BMC Medical Co., Ltd.
o Braebon Medical Corporation
o Compumedics Limited
o Devilbiss Healthcare LLC
o Fisher & Paykel Healthcare Limited
o Koninklijke Philips N.V.
o Löwenstein Group
o Oventus Medical
o Panthera Dental
o SomnoMed Limited
o Whole You (Subsidiary of Mitsui Chemicals, Inc.), among others

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