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Sleep Apnea Devices Market Worth $12.9 billion by 2027- Exclusive Report by Meticulous Research®

 



(IT-NEWSWIRE.COM, August 10, 2022 ) According to a new market research report titled “Sleep Apnea Devices Market by Type (Therapeutic Devices (CPAP, APAP, BPAP, ASV, Oral Appliances, Masks)), Diagnostic Devices (PSG, Oximeter, Home Sleep Testing Devices), End User (Hospitals & Sleep Labs, Home Care Settings/Individuals) - Global Forecast to 2027”, the sleep apnea devices market is expected to grow at a CAGR of 10.3% from 2020 to 2027 to reach $12.9 billion by 2027.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5095

The strong indirect economic impact of the undiagnosed sleep apnea in terms of workplace accidents, roadside accidents, lost productivity, and comorbid diseases & serious health problems and their rising awareness has created the traction in the need of sleep apnea diagnosis and therapy, thereby ultimately driving the demand for related medical devices. The factors such as large number of undiagnosed sleep apnea patients, increasing public and clinical awareness about sleep apnea with growing public & private sector initiatives, significant venture capital funding in the area of sleep apnea, growing usage of oral appliances, and technological advancement in devices are driving the growth of this market. In addition, rising healthcare expenditure and increase in the disposable income in emerging countries further supports the growth of this market.

Impact of COVID-19 on Sleep Apnea Devices Market

The current worldwide severe outbreak of COVID-19 has created an unprecedented global demand for advanced healthcare infrastructure and medical devices including ventilators, patient monitors for the treatment of infected population. However, with the current drastically increasing pandemic COVID-19 crisis, the available ventilator capacity is not sufficient and the global healthcare industry is experiencing a severe shortage of the ventilators. Therefore, considering the shortage of ventilators and its surging demand across the globe, the key players offering ventilators have already doubled their production and some of the players have also planned to quadruple the production by the end of this year.

In spite of this production increase, the significant current spike in need for ventilators could not be met immediately and hence the regulatory authorities and health care associations across the globe have suggested many other treatment options as an alternative. For instance, according to a March 22 statement on COVID-19 treatment options 1, the FDA has recommended the use of continuous positive airway pressure (CPAP) devices and other PAP devices as an alternative to ventilators. This has resulted into a strong & short-term positive impact on sleep apnea therapeutic devices market especially continuous positive airway pressure (CPAP), auto-CPAP, bilevel positive airway pressure (BiPAP or BPAP) devices, and related masks which can be used as an alternative to ventilators in COVID patients with mild to moderate symptoms. Considering possible shortage of ventilators and positive signal from the FDA for use of PAP devices as an alternate to ventilators, companies, government agencies, and healthcare facilities have started adopting modified PAP devices. For instance,

In April 2020, UC Berkeley’s Department of Mechanical Engineering (U.S.) started a project, named Ventilator SOS, to donate the unwanted sleep apnea machines. These CPAP and BiPAP machines could be used to safely treat COVID-19 patients.
In March 2020, Northwell Health (U.S.) used 3D-printed parts to turn bilevel positive airway pressure or BiPAP machines, typically used to treat sleep apnea or COPD, into ventilators.
Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5095

Thus, the ongoing COVID-19 pandemic has significantly increased the demand for therapeutic sleep apnea devices, thereby driving the growth of the overall sleep apnea market to a major extent in 2020.

The global sleep apnea devices market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027. The market is segmented on the basis of type, end user, and geography. The study also evaluates industry competitors and analyses the market at a country level.

Based on type, the therapeutic devices segment is estimated to command the largest share of the overall sleep apnea devices market in 2020. The large share of therapeutic devices is primarily due to the rising adoption of these devices with growing number of diagnosed patients, improving reimbursement scenario for these devices, and availability of patient friendly devices such as oral appliances. The therapeutic devices segment is also the fastest growing segment in the sleep apnea market which is majorly driven by the factors such as major pool of undiagnosed sleep apnea patients, increasing awareness among the population about the impact of sleep disorders on the persons’ quality of life (in terms of health, family life, work life and socializing), and criticality of treatment.

Based on therapeutic devices type, the therapeutic devices market is further broadly segmented into positive airway pressure (PAP) devices, masks, oral appliances, adaptive servo-ventilators, accessories, oxygen devices, and others. Positive airway pressure (PAP) devices segment is estimated to command the largest share of the overall sleep apnea therapeutic devices market in 2020 with its frequent use as first line treatment for sleep apnea; availability of different types of flow generators suitable for any patient needs; and its noninvasive nature, higher effectiveness, and faster control of OSA symptoms. On the other hand, the oral appliances segment is estimated to grow at the fastest CAGR during the forecast.

Read Our Latest Insights on COVID-19's Impact on Various Industries, Visit: https://www.meticulousresearch.com/covid-19.php

Based on diagnostic devices type, the diagnostic devices market is further classified into polysomnography (PSG) devices, home sleep testing devices, oximeters, and actigraphy system. Among these, PSG devices have registered the higher adoption and very common usage for accurate diagnosis of sleep apnea due to its comprehensive nature of providing analysis of multiple parameters through various channel monitors including EEG, EOG, ECG/heart rate, chin EMG, limb EMG, respiratory effort at thorax and abdomen, air flow from nasal canula thermistor and/or X-flow, and pulse oximetry, among others. However, the home sleep apnea testing devices segment is estimated to grow at the fastest CAGR during the forecast period, owing to the factors such as rising demand and improving reimbursement scenario for these devices used in homecare testing.

Based on end user, the homecare settings/individuals segment is projected to grow with the fastest CAGR during the forecast period with rising incidence & prevalence of sleep apnea disorders, rising awareness about sleep apnea and related treatment availability, and easy accessibility to homecare products. In addition, favorable and growing coverage for sleep apnea product reimbursement for homecare will further support the strong growth of this segment.

Geographically, North America region is estimated to command the largest share of the global sleep apnea devices market in 2020, owing to higher demand for sleep apnea devices due to the comparatively higher share of sleep apnea diagnosis in the region, higher adoption of advanced medical devices in the healthcare system, well established healthcare system with a wide network of suppliers & distributors. In addition, the rising initiatives by government & private players to increase the awareness among population, higher & rising healthcare expenditure, availability of the technologically upgraded products from the key players in the region, and increasing spending for product innovation are further expected to support the growth in this market during the forecast period. However, Asia-Pacific region is slated to register the fastest growth in the overall sleep apnea devices market during the forecast period, primarily due to the rising prevalence and large base of undiagnosed sleep disordered breathing (SDB) patients, rising focus of the key players to expand in emerging countries like China & India and other Southeast Asian countries through a number of strategic initiatives, and public & private sector initiatives on improving awareness about sleep disorders and related therapy.

The key players operating in the global sleep apnea devices market are ResMed Inc. (U.S.), BMC Medical Co., Ltd. (China), Braebon Medical Corporation (Canada), Compumedics Limited (Australia), DeVilbiss Healthcare (U.S.), Fisher & Paykel Healthcare (New Zealand), Koninklijke Philips N.V. (Netherlands), Löwenstein Group (Germany), Oventus Medical (Australia), Panthera Dental (Canada), SomnoMed Limited (Australia), and Mitsui Chemicals, Inc. (WholeYou) (U.S.), among others.

Click here to get the short-term and long-term impact of COVID-19 on this Market.

Please visit: https://www.meticulousresearch.com/product/sleep-apnea-devices-market-5095/

Scope of the report

Sleep Apnea Devices Market by Type
Therapeutic devices
Positive Airway Pressure (PAP) Devices
Automatic Positive Airway Pressure Devices
Continuous Positive Airway Pressure Devices
Bilevel Positive Airway Pressure Devices
Masks
Full-Face Masks
Nasal Pillow Masks
Nasal Masks
Oral Appliances
Mandibular Advancement Devices
Tongue-Retaining Devices
Adaptive Servo-Ventilators
Oxygen Devices/ Oxygen concentrator
Accessories
Diagnostic devices
Polysomnography (PSG) Devices
Clinical Polysomnography Devices
Ambulatory Polysomnography Devices
Home sleep testing devices
Oximeters
Fingertip Oximeters
Hand-held Oximeters
Wrist-worn Oximeters
Table top Oximeters
Actigraphy Systems

Sleep Apnea Devices Market by End user
Hospitals & Sleep Laboratories
Home Care Settings/Individuals

Sleep Apnea Devices Market by Geography
North America
U.S.
Canada
Europe
Germany
France
Italy
U.K.
Spain
RoE
Asia-Pacific (APAC)
China
Japan
India
RoAPAC
Latin America
Middle East and Africa

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5095

Meticulous Research®

Mr. Khushal Bombe

+91 744-7780008

sales@meticulousresearch.com

Source: EmailWire.Com



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