A large number of undiagnosed sleep apnea, increase of geriatric population, and rising obesity rates worldwide are driving the growth of the Sleep Apnea Device Market.
JERSEY CITY, N.J., July 13, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Sleep Apnea Device Market" By Type (Therapeutic Devices, Diagnostic Devices, Sleep Apnea Masks), By End-User (Sleep Laboratories and Hospitals, Home Care Settings/Individuals), and By Geography. According to Verified Market Research, the Global Sleep Apnea Device Market was valued at USD 4.81 Billion in 2020 and is projected to reach USD 10.63 Billion by 2028, growing at a CAGR of 10.43% from 2021 to 2028.
The elderly population has a significant prevalence of sleep apnea. Sleep apnea has a significant health impact that is overlooked due to factors like lack of awareness and non-specific presentation of the disease. According to WHO the population's number and percentage of people aged 60 and up is growing. In 2019, there were one billion persons aged 60 and beyond. This figure is expected to rise to 1.4 billion by 2030 and 2.1 billion by 2050. The growing geriatric population, as a result of rising life expectancy, is predicted to increase the prevalence of sleep disorders. With the increase of the geriatric population, the usage of these devices will increase as this population is more prone to sleep apnea.
With rising obesity rates worldwide, the global sleep apnea patient pool is expected to expand in the future years. Excess weight causes fat accumulation in the neck known as pharyngeal fat. When the airway is already relaxed, pharyngeal fat might obstruct a person's upper airway during sleep. This is why snoring is one of the most prevalent sleep apnea symptoms - air is squeezed into a narrowed airway, resulting in a loud noise. Furthermore, increased abdominal girth caused by extra fat can compress a person's chest wall, reducing lung volume. This decreased lung capacity reduces airflow, increasing the likelihood of the upper airway collapsing during sleep. According to WHO, in 2016, more than 1.9 billion adults aged 18 and up were overweight. Over 650 million of these adults were obese and between 1975 and 2016, the global prevalence of obesity nearly tripled. In 2019, an estimated 38.2 million children under the age of five were overweight or obese.
Key Developments inSleep Apnea Device Market
In September 2019, Royal Philips launched a prescription sleep position therapy device known as Night Balance which helps people with positional obstructive sleep apnea (OSA).
In February 2021, GoPAPfree which is a homecare provider of oral appliance therapy for obstructive sleep apnea, launched their new product O2Vent Optima, a highly effective and more convenient alternative to CPAP therapy.
The major players in the market are Koninklijke Philips (Netherlands), BMC Medical (China), Fisher & Paykel Healthcare (New Zealand), SomnoMed (US), Oventus Medical (Australia), ResMed (US), GoPAPfree (US), Löwenstein Medical (Germany) Braebon Medical (Canada), and Panthera Dental (Canada).
Verified Market Research has segmented the Global Sleep Apnea Device Market On the basis of Type, End-User, and Geography.
Sleep Apnea Device Market by Type
Sleep Apnea Masks
Sleep Apnea Device Market by End User
Sleep Laboratories and Hospitals
Home Care Settings/Individuals
Sleep Apnea Device Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
Browse Related Reports:
Sleep Tech Devices Market by Product Type (Wearables, Monitoring Devices, Smart Gadgets, Digital Tools, Others), by Distribution Channel (Clinics, Hospitals, Online, Others), by Geography, Forecast, 2020-2027
Medical Polymers Market by Product (Medical Resins & Fibers, Medical Elastomers, and Biodegradables Plastics), by Application (Medical Equipment & devices, Medical Packaging, and Others), by Geography, Forecast, 2020-2027
Anti-Snoring Device Market by Product (Oral Appliances, Nasal Devices, Tongue-stabilizing Devices, Chin Straps, Position Control Devices), by Geography, Forecast, 2020-2027
Drug Discovery Market by Drug Type (Small-Molecule Drugs and Biologic Drugs), by Technology (High Throughput Screening, Pharmacogenomics, and Nanotechnology), by End-Users (Pharmaceutical Companies and Contract Research Organizations (CROs)), by Geography, Forecast, 2020-2027
Visualize Sleep Apnea Device Market using Verified Market Intelligence:-:
Verified Market Intelligence is our BI Enabled Platform for narrative storytelling of this market. VMI offers in-depth forecasted trends and accurate Insights on over 20,000+ emerging & niche markets, helping you make critical revenue impacting decisions for a brilliant future.
VMI provides a holistic overview and global competitive landscape with respect to Region, Country, and Segment, and Key players of your market. Present your Market Report & findings with an inbuilt presentation feature saving over 70% of your time and resources for Investor, Sales & Marketing, R&D, and Product Development pitches. VMI enables data delivery In Excel and Interactive PDF formats with over 15+ Key Market Indicators for your market.
Verified Market Research is a leading Global Research and Consulting firm servicing over 5000+ customers. Verified Market Research provides advanced analytical research solutions while offering information enriched research studies. We offer insight into strategic and growth analyses, Data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SME's offer a high level of expertise in data collection and governance use industrial techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.
We study 14+ categories from Semiconductor & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Energy & Power, Healthcare, Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & construction, Agriculture industry and Medical Devices from over 100 countries.