NEW YORK, July 19, 2023 /PRNewswire/ -- The sleep apnea devices market in 2022 accounted for a size of USD 7,687.3 million, and it is set to surpass USD 13,386.5 million by 2030, advancing at a 7.2% CAGR between 2023 and 2030, according to the market research report published by P&S Intelligence. This is due to the unhealthy lifestyles of people, growing cases of obstructive sleep apnea, and changes in diet patterns and sleep.
Surging OSA Incidence Driving Demand for Therapeutic Devices
The therapeutic devices category holds the larger share, and it is predicted to grow at a CAGR of about 9% in the years to come. This is mainly credited to the escalating count of OSA cases across the globe.
Moreover, the PAP devices sub-category accounted for an about 35% share of the revenue in 2022. Due to their advantages over other sleep apnea devices, these devices are the most frequently recommended by doctors.
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North America Has Highest Demand for Sleep Apnea Treatment
The North American market for sleep apnea devices holds an around 45% share, credited to the surging cases of sleeping disorders. This is itself due to the rising incidence of heart diseases and obesity, which lead to a high risk of sleep apnea.
Furthermore, the fastest-growing market is APAC, mainly ascribed to the changes in the lifestyle patterns and diet and the surge in the prevalence of OSA. Moreover, the increasing geriatric population is more prone to such conditions owing to the presence of various comorbid diseases in this demographic, which will influence the requirement for diagnostic and therapeutic devices.
Factors Pushing Demand for Sleep Apnea Devices
- The usage of portable devices is surging with the development of technologically advanced products. For instance, there are several devices in the market that use an algorithm and pressure sensor to calculate the appropriate air pressure.
Browse detailed report on Sleep Apnea Devices Market Share, Growth and Demand Forecast to 2030
- The growing elderly population is also a significant factor for the expansion of the worldwide industry. People become more prone to sleep difficulties as they age because of psychological variables, changes in the heart rhythm, and other health issues. In addition, OSA and insomnia are two of the most-prevalent sleeping problems in older persons.
- To give patients better treatment choices, private and government organizations are augmenting their investments in R&D. The incidence of comorbid illnesses and sleep disorders is on the rise in emerging economies.
- Additionally, governments in both advanced and emerging economies are funding startups that are focusing on the prevention and control of sleep-related diseases. These startups are offering specialized technology, including monitoring tools, applications, and treatments, to patients all around the world.
Sleep Apnea Devices Market Report Coverage
Market Size in 2022
USD 7,687.3 Million
Projected Market Size in 2030
USD 13,386.5 million
Koninklijke Philips N.V., DeVilbiss Healthcare GmbH, ResMed Inc., Fisher & Paykel Healthcare Limited, Löwenstein Medical Technology GmbH & Co. KG, BMC Medical Co. Ltd., Compumedics Limited, SomnoMed Limited, BRAEBON Medical Corporation, Natus Medical Incorporated
By Product; By End User; By Geography
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