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Sleep Apnea and Respiratory Monitoring Devices Market Drivers Challenges and Emerging Technologies Overview
Sleep Apnea and Respiratory Monitoring Devices Market
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According to the latest research by InsightAce Analytic, the global Sleep Apnea and Respiratory Monitoring Devices market is valued at USD 5,756.61 Million in 2023, and it is expected to reach USD 9,724.0 Million by the year 2031 , with a CAGR of 7.0% during a forecast period of 2024-2031.
Sleep apnea is a potentially life-threatening sleep disorder characterized by irregular breathing patterns. It is more prevalent among the elderly and individuals with comorbidities such as diabetes, hypertension, and cardiovascular diseases. Obstructive sleep apnea (OSA) represents the most common form of sleep apnea globally, with effective management relying on early diagnosis and the use of specialized treatment devices. If left untreated, sleep apnea can result in disrupted breathing during sleep due to insufficient oxygen supply to the brain and other vital organs. Sleep apnea and respiratory monitoring devices play a crucial role in supporting and regulating the breathing of affected patients by ensuring continuous oxygen delivery and maintaining airway patency.
Key drivers for the growth of the sleep apnea and respiratory monitoring devices market include a high volume of undiagnosed cases, increasing public and private sector initiatives aimed at raising both clinical and public awareness of sleep apnea, substantial venture capital investments in this field, growing adoption of oral appliances, and ongoing technological advancements.
Favorable reimbursement policies and financial support for sleep apnea therapies and devices further stimulate market expansion. Additionally, heightened recognition of the adverse health consequences of untreated sleep apnea is contributing to increased demand. The rising preference for home sleep apnea testing (HSAT) presents further growth opportunities. Moreover, the integration of mobile health (mHealth) solutions, artificial intelligence, and telemedicine into the sector is expected to drive continued market development.
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North America is anticipated to be the major contributor to the Sleep Apnea and Respiratory Monitoring Devices market over the forecast years, followed by Europe. The market is being driven by the increasing occurrence of respiratory ailments, which are producing some type of sleeping disturbance. Furthermore, as more people become concerned about the health risks associated with sleep apnea, the number of therapeutic tests for determining its existence in the region is rapidly expanding. In addition, the Asia Pacific Sleep Apnea and Respiratory Monitoring Devices market is expected to grow significantly over the projection period. The Asia Pacific market is being driven by an ageing population and an increase in the incidence of lifestyle ailments. According to the WHO, chronic respiratory diseases, diabetes, cardiovascular diseases, and cancer are among the top causes of death in the region.
Major market players operating in the Sleep Apnea and Respiratory Monitoring Devices market include DeVilbiss Healthcare LLC., Vyaire Medical, Inc., Medtronic plc, Mindray, Dickinson and Company, Natus Medical Incorporated, Nihon, Kohden Corporation, ResMed, Cleveland Medical Devices, Inc., Smiths Medical, Koninklijke Philips N.V., Fisher & Paykel Healthcare Limited, SOMNOmedics America Inc., Itamar Medical Ltd., Compumedics Ltd., Becton, BMC Medical Co., Ltd., and list of Other Prominent Players.
Recent collaborations and agreements in the market:
• In June 2021, Aeroflow healthcare and Oventus Medical partnered to provide consumers in the United States with OSA therapy devices from Oventus, including O2Vent Optima, through sleep clinics.
• In February 2021, the launch of the02Vent Optima by Oventus Medical unveiled a personalised oral appliance therapy apparatus that, in collaboration with GoPAPfree, offers a substitute to CPAP therapy in the United States.
• In March 2019, HB healthcare was acquired by ResMed, a home medical equipment provider that specialises in sleep and respiratory care devices.
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Market Segments
Global Sleep Apnea and Respiratory Monitoring Devices Market, by Products, 2022-2030 (Value US$ Mn)
• Polysomnography Device (PSG)
• Sleep Apnea Screening Device
• Actigraphy Monitoring Device
• Respiratory Polygraph
• Peak Flow Meters
• Gas Analyzers
• Oximeter/Finger-Tip Oximeter
• Other Products
Global Sleep Apnea and Respiratory Monitoring Devices Market, by End-Users, 2022-2030 (Value US$ Mn)
• Hospitals & Sleep Laboratories
• Home Care Settings
• Other End-Users
Global Sleep Apnea and Respiratory Monitoring Devices Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Sleep Apnea and Respiratory Monitoring Devices Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Sleep Apnea and Respiratory Monitoring Devices Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Sleep Apnea and Respiratory Monitoring Devices Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Sleep Apnea and Respiratory Monitoring Devices Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Sleep Apnea and Respiratory Monitoring Devices Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global Sleep Apnea and Respiratory Monitoring Devices market
To receive an industry overview and future trends of the Sleep Apnea and Respiratory Monitoring Devices market
To analyze the Sleep Apnea and Respiratory Monitoring Devices market drivers and challenges
To get information on the Sleep Apnea and Respiratory Monitoring Devices market value (US$Mn) forecast to 2030
Significant investments, mergers & acquisitions in the Sleep Apnea and Respiratory Monitoring Devices market industry
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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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