Sleep Apnea Devices Market size is witnessing growth with 6.57% CAGR through 2025
The recent insight on sleep apnea devices market for 2019 to 2025 identifies high prevalence of obstructive sleep apnea (OSA) in geriatric population, advancements in med-technology, and increased awareness for sleep apnea treatment as major factors disrupting the market growth.
Further, catering patient safety and improvement in sleep apnea treatment along with patient adherence for better quality of life are among the key market trends. In addition, prevalence of sleep apnea increases with the rising risk of hypertension, cardiac diseases, diabetes, and mental disorders such as depression and anxiety, which eventually drives the demand for sleep apnea devices market.
However, clinical and patho-physiological phenotyping, personalised diagnostic and therapeutic procedures remain challenges in sleep apnea management
PAP devices are increasingly penetrating market growth with advantages of miniaturization of PAP devices along with the availability of customization options with additional features.
Novel OSA devices are observed to hold macro market share
The high prevalence and the impact on daily life of OSA force clinicians to offer effective and acceptable treatment options is one of the challenges. Diagnostic and therapeutic OSA devices integrated with wireless connectivity are majorly contributing towards sleep apnea devices market share.
Improve sleep apnea devices alternative to existing positional OSA treatments are trending as key products. Accordingly, in September 2019, Philips launched NightBalance, designed for patients with OSA features wireless connectivity and a mobile app that monitors product use and provides patients and physicians with access to data via a cloud-based system.
Adoption of innovation and technology to enhance product portfolio market long term market opportunity
Key players of sleep apnea devices market are designing novel sleep apnea devices to reach out to costumers with advantages of cost effective at in- home sleep apnea devices. For instance, in March 2019, Itamar Medical Ltd. announced WatchPAT 300 system for home sleep apnea testing, cost-effective diagnosis of sleep apnea.
in addition, actigraphy sleep apnea diagnostic device is rapidly emerging with lucrative growth, driven by benefit of providing in-home objective analysis on the sleep habits for non-intrusive 24-hours monitoring and for extended periods.
Further, key OEMS are launching FDA approved wearable devices and showcasing market growth by integrating sensors to improve sleep quality. For instance, in 2018, Beddr launched SleepTuner, first FDA registered consumer sleep wearable, ultra-compact to provide personalized insights into sleep quality.
Prominent players of market include BMC Medical, Braebon Medical Corporation, Compumedics, Drive Devilbiss Healthcare, Fisher & Paykel Healthcare, Löwenstein Medical, Oventus Medical, Panthera Dental, Philips, Resmed ,Somnomed, Whole You, Invacare Corporation, Natus Medical Incorporated, , Itamar Medical Ltd.
Prevalence of sleep apneaprojects market growth across Americas
Americascurrently dominates the market for sleep apnea devices and continues to be driven by its large patient pool withhealth and economic implication as half of all patients with cardiovascular disease suffer from sleep apnea.
Further, the strong presence of innovative and easy to use CPAP devices manufacturers strengthens the regional market. For instance, in 2019, ResMed (US) introduces AirFit N30i, first top-of-head-connected nasal CPAP mask across the U.S with a designed nasal cradle cushion.
Factors such as awareness initiatives taken by the government and organizations, adequate funding and growing usage of sleep apnea treatment devices across the region are driving the market growth.
However, Asia-pacific is seemingly capturing the sleep apnea devices market share with growing number of end users such as hospitals and in-home services.