USD 3.85 billion
Report ID: SQSG35G2014 | Region: Global | Published Date: October, 2022 | Pages: 157 | Tables: 61 | Figures: 64
The Global Sleep Apnea Devices Market was valued at USD 3.85 billion in 2021, and it is expected to reach a value of USD 5.98 billion by 2028, at a CAGR of 5.9% over the forecast period (2022 - 2028).
A sleeping disorder known as sleep apnea is characterized by an individual's irregular rhythm of breathing while they are asleep. Untreated sleep apnea causes the brain and the rest of the body to receive insufficient oxygen, which causes people to have irregular breathing while they sleep. Elderly individuals and those with illnesses including diabetes, hypertension, cardiovascular ailments, and others are more likely to have this condition. Obstructive sleep apnea (OSA) is the most common kind of sleep apnea worldwide, and its prevention requires early diagnosis and the use of treatment equipment.
Global Market Size
USD 3.85 billion
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The Global Sleep Apnea Devices Market is segmented based on the Device type, End-User, and Region. Based on the Device Type, the Market is segmented into Therapeutic Devices and Diagnostic Devices. Based on the End-User, the Market is segmented as Sleep Laboratories & Clinics and Homecare & Other Settings. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Device Type
In 2020, the market was led by the therapeutic device category. The therapeutic sector will be dominated by the rising number of diagnosed patients receiving treatment in sleep clinics, particularly in developed nations, which includes CPAP therapy. Around 95% of Americans with diagnoses receive therapy, and CPAP is the most popular form of treatment among these patients, according to KOL interviews.
Increased diagnosis rates are being seen in both developed and developing nations due to the vast undiagnosed population and increased patient awareness. This is increasing demand in these nations for diagnostic tools like polysomnography equipment.
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In 2020, the North American market had a value of 4.16 billion USD. The higher frequency of the illness and the advantageous reimbursement rules, which have been essential in the larger adoption of such devices in the region, are to blame for North America's supremacy. The American Academy of Sleep Medicine (AASM) estimates that in the United States, between 3.0 percent and 7.0 percent of males and 2.0 percent to 5.0 percent of women suffer from sleep apnea.
On the other hand, the market in Europe is anticipated to expand at a considerable CAGR by 2028 due to the region's high adoption of these devices, increased awareness of sleep apnea, and the growing need for diagnostic testing. Due to the rising prevalence of sleep apnea in developing nations as well as the rising demand for sleep apnea devices in Australia and Japan, the Asia Pacific market is predicted to expand more quickly. An estimated 14% of adult Indians, according to research that has been published, have sleep apnea.
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Growing Prevalence of Obstructive Sleep Apnea
High Cost of Devices
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The Global Sleep Apnea Devices market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Sleep Apnea Devices Market Analysis, the vast population of undiagnosed sleep apnea patients, increased public awareness of the negative effects of untreated sleep apnea, rising oral appliance adoption, and an increase in the number of businesses entering the sleep apnea industry are the key drivers of market expansion.
|Market size value in 2021||USD 3.85 billion|
|Market size value in 2028||USD 5.98 billion|
|Forecast period||2022 - 2028|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Sleep Apnea Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Sleep Apnea Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Sleep Apnea Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Product ID: SQSG35G2014