Global Sleep Apnea Devices Market is Expected to Reach USD 10.6 Billion by 2025 : Fior Markets

Newark, NJ, Feb. 21, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global sleep apnea devices market is expected to grow from USD 5.2 Billion in 2017 to USD 10.6 Billion by 2025 at a CAGR of 9.60% during the forecast period 2018-2025.

Large undiagnosed sleep apnea patients pool, growing awareness about the ill effects of untreated sleep apnea, increasing use of oral appliances, technological advancements in sleep apnea devices and growing interest of competitors in the sleep apnea market are the factors driving sleep apnea devices market. This increase has been prompted by the growing prevalence of sleep apnea. According to the global sleep survey conducted by Philips Respironics in 2015, nearly 100 million people suffer from OSA worldwide. The National Healthy Sleep Awareness Project reported that the obstructive sleep apnea affects more than 25 million people in the U.S. and is a chronic disease.

Sleep apnea is a chronic respiratory sleep disorder. It is characterized by disruption of breathing while sleeping. This conditions include shallow periods of breathing or occurrence of breaks and pauses during sleep. These disruptive events can occur multiple times during the night. People with loud snoring habits are most susceptible to sleep apnea. Resumption of breathing after these pauses are mostly followed by choking or snorting sounds. Most people remain undiagnosed of sleep apnea, as it occurs during the night and is difficult to detect during routine hospital visits. People suffering from diabetes are more prone to sleep apnea. Obstructive sleep apnea (OSA), central sleep apnea (CSA) and mixed sleep apnea, are types of sleep apnea. Obstructive sleep apnea is the most common sleep apnea in which the breathing is interrupted by blockage of airflow.

Sleep apnea is most prevalent in the elderly population which increases the risk of other diseases such as high blood pressure, heart disease, strokes, diabetes, systemic hypertension and depression are expected to enhance the growth of the segment. In addition, Growing awareness regarding is also driving the market. Lack of awareness may restrict the growth of the market. However, rising use of portable sleep apnea devices and increasing government support for start-up companies are driving the growth of the market in forecast period.

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Key players operating in the global sleep apnea devices market include Koninklijke Philips, Resmed, Braebon Medical, Fisher & Paykel Healthcare, Drive Devilbiss Healthcare, Somnomed, Whole You, Compumedics, Löwenstein Medical, Phillips Healthcare, Weinmann Medical Devices GmbH, Itamar Medical Ltd., Novasom, Curative Medical Inc. and Invacare Corporation among others. To enhance their market position in the global Sleep Apnea Devices market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.

For instance, in March 2018, Nihon Kohden commercially launched its NKHiQTM Wireless Patient Monitoring System.
Major players are engaged in developing new technologies to retain their foothold in the global market. For instance, in January 2019 ResMed has come with AirFit N30i, first top-of-head-connected nasal CPAP mask. This has a newly designed nasal cradle cushion which lies just under wearer's nose. All the tubing is out of wearer's way, letting them move and sleep in any position.
For instance April 2017, Philips launched three products as a solution to sleep problems. Royal Philips introduced the Dream Series range of sleeping aids to help improve the sleep therapy experience for people with obstructive sleep apnea (OSA). This solution can easily connect and support the patient, clinician and homecare provider to enhance patient care and quality of life.

The Diagnostics devices segment accounted for the largest of 61.27% in 2017

The type segment is classified into therapeutic and diagnostic devices. The Diagnostics devices segment accounted for the largest of 61.27% in 2017. Rising patient awareness and increasing demand for early diagnosis is driving the growth of the segment. Large number of undiagnosed patients is providing lucrative opportunities to manufacturers, this in turn is expected to drive market growth over the forecast period for diagnostic devices segment.

The home care/individuals segment of the market is estimated to grow at the highest CAGR of 11.74% during the forecast period

End user segment is bifurcated into sleep laboratories & hospitals and home care/individuals. The home care/individuals segment of the market is estimated to grow at the highest CAGR during the forecast period and was valued around USD 2.86 billion. This can be attributed to the preference for home care in sleep apnea diagnosed patients.

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Regional Segment Analysis of the Sleep Apnea Devices Market

North America (U.S. , Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region captured the largest share of global sleep apnea devices market of 49.27% in 2017 whereas Asia pacific is expected to attain the lucrative growth in the forecast period. North America region is expected to dominate the market due to large patient pool and presence of established manufacturers. Technological advancements and availability of these devices in the region is further augmenting the growth of the market. Asia pacific is projected to be fastest growing region in the forecast period owing to large undiagnosed patient pool, rising healthcare expenditure and growing focus of manufacturers in the region.

About the report:

The global sleep apnea devices market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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