The global sleep apnea devices market is anticipated to grow at 6.8% CAGR owing to the increasing pool of patients suffering from undiagnosed sleep apnea, increasing geriatric population, rising awareness regarding the ill-effects of untreated sleep apnea, rising adoption of oral appliances, and new entrants in the sleep apnea industry. Moreover, individuals suffering from obesity and hypertension might develop sleep apnea. Nevertheless, the rising demand for home sleep apnea tests (HSATs), and rising focus on telemedicine, mobile health, and AI will create opportunities for growth in the global sleep apnea market. According to the American Sleep Associated report, in 2020 about 50 million to 70 million people in the US will suffer from sleep disorders.

The COVID-19 pandemic has seen a slight dip in sales of sleep apnea diagnostic devices owing to the temporary closure of sleep clinics in the first quarter of 2020 but the therapeutic sleep apnea devices have seen a significant increase. However, post-pandemic, the trend is shifting towards mHealth apps to remotely monitor sleep, resulting in improved patient outcomes and real-time screening of patient data.

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Based on type, the therapeutic device segment dominates the market and includes Positive airway pressure devices, oral devices, nasal devices, and chin straps. The rising awareness of sleep apnea disorders, the growing availability of technologically developed devices, initiatives by local government, and patient dedication towards effective care and treatment will fuel the growth of the segment.

North America dominates the sleep apnea devices market owing to the increasing prominence of respiratory disorders, huge patient pool increasing awareness about sleep apnea, presence of international manufacturers and well-established players like ResMed, and Inspire Medical Systems, Inc. in the region.

Several product launches have taken place in 2020 like Fisher & Paykel Healthcare Corporation Limited has launched the F&P Evora, which is a nasal mask used for the treatment of obstructive sleep apnea (OSA), Cadwell Laboratories has launched ApneaTrak that is a home sleep apnea testing device.

The prominent players in the sleep apnea devices industry include Koninklijke Philips, BMC Medical, Fisher & Paykel Healthcare, Somnomed, Compumedics, Löwenstein Medical, Whole You, Resmed, Drive Devilbiss Healthcare, Braebon Medical.

Source: Vinz Research