Sleep apnea devices market was valued at $4.4 billion in 2017, which is projected to reach $6.8 billion by 2023, at a CAGR of 7.7% during the forecast period (2018–2023), according to the latest research study published by P&S Intelligence, the study covers detailed analysis of component and distribution channel of sleep apnea devices industry.
The increasing incidence of obstructive sleep apnea (OSA) and co-morbidities is one of the biggest factors responsible for the soaring sales of sleep apnea devices across the world. As per the National Sleep Foundation, almost 18 million adults suffer from apnea in the U.S and the share of people diagnosed with OSA is in the range 2—3% of all the adults in the country. In addition to this, the incidence of OSA in children suffering from habitual snoring disorder in the U.S. is recorded to be in the range of 10—20%.
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The other major factor boosting the production of sleep apnea devices is the rising demand for portable sleep apnea devices all over the world. Portable sleep apnea devices are being increasingly preferred by healthcare professionals and other users owing to their small and compact size. Moreover, these devices reduce the requirement of sleep laboratory visits, which is further bolstering their demand across the globe. There has also been a huge rise in the popularity of oral appliances over the last few years, mainly because of their greater cost-effectiveness as compared to the continuous positive airway pressure/power (CPAP).
The objective of this research includes;
Geographically, the Asia-Pacific (APAC) region is expected to observe the fastest growth in the usage of sleep apnea devices during the forecast period. The major factors responsible for the soaring sales of these devices in the region are the increasing occurrence rate of obstructive sleep apnea (OSA), high work-pressure, unhealthy lifestyle choices, and changing diets and sleep patterns of the people in the region. As per a study funded by the Jurong Health Services Research and Quality Improvement Grant, one out of every 3 people in Singapore suffers from moderate-to-severe OSA.
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The global sleep apnea devices market is fragmented in nature, due to the presence of several giant and small- and medium-sized players. These include Natus Medical Incorporated, Löwenstein Medical Technology GmbH & Co. KG, SleepScore Labs, Koninklijke Philips N.V., BRAEBON Medical Corporation, Compumedics Limited, Circadiance LLC, Fisher & Paykel Healthcare Limited, Alaxo GmbH, BodiMetrics LLC, SLEEPON Inc., ResMed Inc., and BMC Medical Co. Ltd.
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