Slep Apnea Devices Industry to Experience Global Growth in Revenue Generation

The global sleep apnea devices market is expected to reach USD 7.5 billion by 2024 from USD 4.5 billion in 2019 at a CAGR of 10.7%.

The major factors driving the growth of the sleep apnea devices market are primarily a large pool of undiagnosed sleep apnea patients, growing awareness about the ill effects of untreated sleep apnea, growing usage of oral appliances, technological advancements in sleep apnea devices, considerable venture capital funding, and an increasing number of companies venturing into sleep apnea and oral appliances markets.

The study involved four major activities in estimating the current market size for sleep apnea devices. Exhaustive secondary research was done to collect information on the market and its different sub-segments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter market breakdown and data triangulation was used to estimate the market size of segments and sub-segments

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Report Objectives

# To define, describe, and measure the global market by type, end user, and region

# To provide detailed information about major factors influencing market growth (such as drivers, restraints, growth opportunities, and challenges)

# To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the global market

# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players

# To forecast the size of the market in North America, Europe, Asia Pacific (APAC), and the Rest of the world (RoW)

# To strategically analyze the market structure and profile key players and their core competencies3 in the global market

# To track and analyze competitive developments such as service launches, expansions, acquisitions, partnerships & collaborations; in the market.

Market Dynamics:

Driver: Large pool of undiagnosed sleep apnea patients

Although highly prevalent in the elderly, sleep apnea affects people of all ages and is one of the most common sleep disorders across the globe. The health impact of sleep apnea is quite substantial but under-recognized.

Worldwide data suggests that sleep apnea impacts more than 936 million people worldwide, which is nearly 10 times greater than previous estimates (Source: ResMed). In the US alone, around 22 million Americans suffer from obstructive sleep apnea (OSA); of which, 80% of moderate and severe OSA cases are undiagnosed [Source: American Sleep Apnea Association (ASAA)]. In the UK, OSA affects an estimated 1.5 million adults; up to 85% of these cases are undiagnosed or untreated. In countries with huge population bases, such as India and China, the diagnosis rate of OSA is <1% (Source: Press Trust of India, 2017 and China.org.cn).

Key Questions Addressed by the Report:

# Which type segment will dominate the sleep apnea devices market in the future?

# Emerging countries have immense opportunities for the growth and adoption of sleep apnea devices, therefore will this scenario continue in the next five years?

# Where will all the advancements in technology offered by various companies take the industry in the mid to long term?

# What are the upcoming alternative therapies and devices related to the same in the sleep apnea devices market?

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Restraint: High cost of CPAP machines

In most developed countries, the cost of a CPAP device is either reimbursed or provided by medical insurance companies. The main reason for non-adherence is non-acceptance on the part of the patient, mainly due to the mask causing discomfort or claustrophobia. However, conditions are different in most developing countries, where insurance access is minimal and insurance companies usually do not cover the cost of a CPAP device.

Opportunity: Increasing focus on telemedicine and mHealth (mobile health)

Several studies have reported that a main predictive factor for long-term CPAP compliance is patient adherence in the first few weeks of treatment. To improve compliance, support and follow-up during this period must be prompt. Telemedicine offers this kind of assistance since long waiting lists make it difficult to provide such support. Several studies suggest that patients in the telemedicine group expressed high satisfaction with their care. They especially liked the convenience of a live video visit with a sleep doctor.

North America is expected to dominate the sleep apnea devices market during the forecast period

On the basis of region, North America accounted for the largest share of the global sleep apnea devices market in 2018, whereas, the Asia Pacific region registered the highest CAGR during the forecast period. North American accounted for the largest share owing to factors like an increase in the number of patients diagnosed with sleep apnea in the region, growth in awareness initiatives being taken by various government and non-government organizations, availability of adequate funding for research and development, and substantial growth in the usage of oral appliances in the region.

Major players operating in the sleep apnea devices market include ResMed (US), Koninklijke Philips (Netherlands), Fisher & Paykel Healthcare (New Zealand), SomnoMed (US), Oventus Medical (Australia), Compumedics (Australia), Löwenstein Medical (Germany), Drive DeVilbiss Healthcare (US), BMC Medical (China), Braebon Medical (Canada), and Panthera Dental (Canada).

Recent Developments:

# In 2019, ResMed (US) launched AirFit N30i, its first top-of-head-connected nasal CPAP mask, across the US with a newly designed nasal cradle cushion that sits just under the wearer’s nose.

# In 2016, Koninklijke Philips (Netherlands) launched its Dream Family solution which comprises of a DreamWear mask, DreamStation PAP device, and DreamMapper patient engagement app.

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