Gmi Research's blog : Sleep Apnea Devices Market size, share, trends & Forecast

Gmi Research's blog

The Sleep Apnea Devices Market is expected to reach USD 10,300 million by 2028, growing at a CAGR of 6.1%, over the forecast period (2021-2028).

The factors driving growth of the market includes growing prevalence of diabetes, hypertension, and obesity around the world, rising awareness about the use of oral appliances for sleep apnea, favourable Government policies, increasing number of sleep clinics and sleep technicians and improvements in the living standards. According to the report published by World health Organization (WHO), the number of people aged 30–79 years with hypertension has risen from 650 million to 1.28 billion during the last 30 years, which is expected to boost the demand for sleep apnea devices in the approaching years. Moreover, growing adoption of advanced technologies by manufacturers, increasing demand for diagnostic tests, rise in the launch of innovative products, and rapid urbanization, are some of the additional factors supplementing the Global Sleep Apnea Devices Market. In addition, the increasing investments by major companies on research and development, strategic collaboration, and partnerships between enterprises, and growing disposable incomes, are further contributing to the market growth.

However, growth of the Sleep Apnea Devices Market is hindered due to influent knowledge amongst consumers about sleep disorders.

The major players operating in the market are Invacare Corporation., Som Imaging Informatics Pvt. Ltd, BMC Medical Co., Ltd., ResMed, Koninklijke Philips N.V., Fisher & Paykel Healthcare Limited, Natus Medical Incorporated., Compumedics Limited, Itamar Medical Ltd., and Curative Medical, among others.

Based on Product Type, the Therapeutic Devices segment is predicted to grow at a significant CAGR during the forecast period

Technological advancements in oral devices, and airway pressure devices, and rising awareness amongst consumers about early diagnosis, are some of the key factors pushing the segment’s growth.

Based on End-Users, the Sleep Laboratories and Hospitals segment is projected to grow at a robust CAGR over the forecast period

Growing demand for clinical PSG devices, heart – rate systems, and actigraphy systems, by laboratories and hospitals, is propelling growth of the segment.

Based on Region, the North American region is projected to grow at a remarkable CAGR during the forecast period

Presence of the leading players such as Curative Medical., ResMed, and Somnetics International, Inc., increasing prevalence of diabetes and hypertension across United States, rapid urbanization, and high per capita incomes, are some of the important factors augmenting the Sleep Apnea Devices Market size in North America.  


Key Developments

  • In June 2021, Itamar Medical Ltd., improved its WatchPAT, which is an innovative Home Sleep Apnea Device that uses the peripheral arterial signal for sleep apnea diagnosis.
  • In April 2020, Cadwell Laboratories introduced ApneaTrak home sleep apnea testing device. This device will feature three models to meet the clinical requirements of sleep apnea to validate the efficacy of treatments.


Market Segmentation

Segmentation by Product type

  • Diagnostic Devices
  • Sleep Apnea Masks
  • Therapeutic Devices
  • Others

Segmentation by End-Users

  • Home Care Individuals
  • Sleep Laboratories and Hospitals

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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On: 2023-07-21 05:45:53.512

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