Global Sleep Apnea Device Market Synopsis:
Sleep apnea itself isn’t a fatal disorder, but when it overlaps with other critical conditions, it might prove to cause death. The increasing awareness about the consequences of the diseases has led to the development of a market for diagnosis, treatment, and devices. According to Market Research Future (MRFR)’s study, the global sleep apnea device market report is projected to scale at a CAGR of 6.52% across the assessment period 2023 to 2027. The sleep apnea device market is presumed to reach a decent valuation by the end of the forecast period.
Obesity leads to high cholesterol levels, which is found to trigger sleep apnea. Obesity is largely prevalent nowadays in most parts of the world. It is projected to create more developmental opportunities for the participants of the sleep apnea device market in the years to come. Also, older adults are more prone to developing sleep apnea, and the growing geriatric population is anticipated to augment the market.
The integration of the latest technologies with treatment for the development of medical devices to cure sleep apnea is likely to revolutionize the growth pattern. However, the high cost of devices in conjunction with the availability of alternative treatments is anticipated to undermine the growth of the sleep apnea device market over the next couple of years.
The sleep apnea device market, by type, has been segmented into therapeutic device and diagnostic device. The diagnostic device segment is sub-bifurcated into Polysomnographs (PSG) and oximeter. Furthermore, the therapeutic device segment has been sub-segmented into Positive Airway Pressure (PAP) devices, Continuous Positive Airway Pressure (CPAP), facial interfaces (mask), oral appliances, accessories, Adaptive Servo-Ventilators (ASV), and others (oxygen concentrators and airway clearance systems).
On the basis of end-user, the global sleep apnea device market has been segmented into hospitals, home care, and sleep laboratories.
The geographical study of the global sleep apnea device market insights spans across North America, Europe, Asia Pacific, and the Rest of the World (RoW). Among these, North America is expected to have a dominant share of the global market over the assessment period. Increasing awareness about the disease in the region coupled with the presence of major industry leaders is projected to catapult the sleep apnea device market on an upwards trajectory. Asia Pacific, on the other hand, is expected to exhibit the steepest rise in the growth curve owing to an increasing patient population.
The key players participating in the competitive landscape of the global sleep apnea device market are Cadwell Laboratories Inc, Consumer Sleep Solution LLC, MedTech, BMC Medical, Fisher Paykel Healthcare Limited, Invacare Corporation, Nihon Kohden Corporation, Natus Medical Incorporated, Resmed Inc, Philips Healthcare, SomnoMed, Koninklijke Philips, Compumedics, Drive Devilbiss Healthcare, Lowenstein Medical, and Braebon Medical Corporation.
In April 2019, Tria Dental in Virginia launched new services for patients suffering from sleep apnea. The new range of services offered aims at the treatment affordable and convenient.
In April 2019, Onera Health, a leader in sleep diagnostic solutions and services, raised USD 9.3 Mn in series A funding for its at-home sleep diagnostic patch system.
In April 2019, Fitbit, leading wearable devices brand, has launched Fitbit Versa Lite which leverages sleep Stages tracking for sleep apnea patients.
In March 2019, Itamar Medical Ltd., provider of diagnostic medical devices for sleep apnea, has unveiled WatchPAT 300, the next-gen upgrade of WatchPAT system, for home sleep apnea testing.
In January 2019, Oventus Medical, a Brisbane-based medical device company, has announced the launch of a lightweight sleep apnoea treatment device in Australia.
In October 2018, California-based Beddr has announced the launch of Sleep Tuner, a health wearable with FDA-registered sleep sensor.
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