Rising prevalence of sleep apnea and related comorbidities and expanding knowledge about sleep disorders are among the major drivers for the overall expansion in sleep apnea device market size.
Improvement in technology is expected to drive the growth of the sleep apnea devices market over the forecast period. These improvements in oral appliances, oxygen devices, and actigraphy systems have improved outcomes and success rates in the treatment of sleep disorders.
The sleep apnea devices market players are focusing their efforts on research and development to create new technology.
Recently launched lightweight and portable sleep apnea solutions are integrated with pressure compensation sensors that can correct for altitude-related reductions in air pressure, improving acceptance. Sleep apnea devices are becoming increasingly popular as they provide patients with more options and freedom.
Thus, the adoption of technology-based sleep apnea devices for both diagnostic and therapeutic reasons in various sleep disorders is expected to skyrocket in the coming years.
One of the major challenges hindering the adoption of sleep apnea devices is the lack of commitment to sleep apnea treatment. Positive airway pressure sleep apnea devices are highly recommended for treating a variety of sleep disorders. Despite their high efficiency, the effectiveness of action of these devices is limited in certain circumstances due to the fact that they require correct and frequent use as well as permanent medical monitoring.
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In the medium term, this lack of buy-in will be a major impediment to the expansion of the sleep apnea equipment market. However, in the long term, this will have little influence as sleep apnea device manufacturers strive to make their sleep apnea devices more technologically sophisticated and reduce the difficulties associated with their adherence to sleep apnea treatment.
The increased incidence of sleep disorders and associated comorbidities are expected to significantly increase the sleep apnea devices market revenue.
The rapid increase in the population of elderly people suffering from sleep apnea and related health conditions has accelerated the need for diagnosis and treatment of sleep disorders, which has favorably impacted the device market revenue sleep apnea.
Key points to remember:
- By type, therapeutic devices account for the majority of the sleep apnea device market due to increasing adoption of sleep apnea therapeutic devices and improved reimbursement scenarios for these devices.
- By end use, the home care facility segment is expected to grow at the fastest CAGR due to growing patient and insurance company preference for home sleep testing, as well as a favorable reimbursement scenario for home sleep testing.
- Due to the increasing prevalence of elderly people with chronic diseases such as diabetes and obesity, the geriatric segment is expected to dominate the sleep apnea device market, thereby driving up the sales of sleep apnea device .
- The direct tendering segment is expected to dominate the global sleep apnea devices market, as it provides high quality and easily accessible sleep apnea devices to hospitals, diagnostic centers, ambulatory care centers and specialized care centers.
- During the forecast period, Asia-Pacific is expected to progress at a rapid pace and experience huge demand for sleep apnea devices due to rising elderly population and increasing prevalence lifestyle-related diseases.
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“North America is expected to be at the forefront of sleep apnea devices market owing to the prevalence of expanding technological advancements in the region and major market players. Due to rising healthcare costs and well-established healthcare infrastructure, the obstructive sleep apnea syndrome segment in the United States of North America is expected to hold a major market share of sleep apnea devices. says an IMF analyst.
The major companies in the sleep apnea device market providing sleep apnea devices are ResMed, Itamar Medical Ltd., Natus Medical Incorporated, CONTEC MEDICAL SYSTEMS CO., LTD, Koninklijke Philips NV, BMC Medical Co., Ltd ., SomnoMed, Medicom MTD Ltd, Somnowell , Fisher & Paykel Healthcare Limited Compumedics Limited.
Numerous product launches and agreements are also initiated by companies around the world, which accelerates the opportunities of the sleep apnea devices market.
By key players
- BMC Medical Co., Ltd.
- LivaNova PLC
- Cadwell Laboratories Inc.
- Fisher & Paykel Health
- Invacare Corporation
- Itamar Medical Ltd
- Natus Medical Inc.
- Nihon Kohden
- Koninklijke Philips NV
- ResMed Inc.
- Teleflex Inc.
- Driving DeVilbiss International
Main Related Reports Overview of the healthcare market
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