The
global Sleep Apnea Devices Market size is expected to
reach USD 6.1 billion by 2028, according to a new report by Grand View
Research, Inc. The market is expected to expand at a CAGR of 6.2% from 2021 to
2028. Obesity is a major factor in sleep apnea. The global prevalence of obesity
is estimated to reach 18.0% in men and 21.0% in women by 2025. This, in turn,
is estimated to drive the market as more than half of the overweight or obese
people suffer from Obstructive Sleep Apnea (OSA).
Moreover,
the rising geriatric population due to increasing life expectancy is expected
to impel the prevalence of OSA. Sleep disorders increase with age, which is one
of the key factors for high market share. However, low awareness and consequent
low penetration of sleep apnea equipment in developing and underdeveloped
economies present lucrative growth opportunities to market participants.
The
outbreak of COVID-19 pandemic negatively impacted the growth of the medical
equipment required to diagnose the disease. There was the temporary closure of
physician practices, home medical equipment suppliers, and sleep clinics due to
quarantine or government restrictions, to control the spread of COVID-19. This,
in turn, has resulted in the decreased growth rate of diagnostic equipment
during the COVID-19 related lockdowns.
However,
sleep and respiratory care equipment witnessed a rapid increase in demand
during the pandemic. The usage of PAP devices as an alternative to ventilators
significantly increased the demand for PAP equipment. Moreover, a rise in
adherence to PAP therapy for sleep apnea after the initial stages of the
pandemic, as risk factors associated with COVID-19 are commonly present in the
patients, positively impacted market growth.
The
development of new technologies for the treatment and diagnosis of the disease
is driving market growth. Moreover, new alternatives to CPAP equipment such as
nasal and oral equipment are developed for patients with low CPAP tolerance.
For instance, In February 2021, GoPAPFree, a homecare oral devices manufacturer
for OSA, launched O2 Vent Optima to serve as an effective and more convenient
CPAP alternative. This device increases sleep apnea therapy response by 40.0%.
In February 2020, Fisher and Paykel launched F&P Evora with CapFit
headgear, a compact nasal mask for treating sleep apnea. The company launched
this product in the markets of New Zealand, Europe, Australia, and Canada.
Related Press
Release@ Sleep Apnea Devices Market Report
Sleep Apnea Devices Market Report Highlights
- Therapeutic
devices emerged as the leading type segment in 2020 with a revenue share
of 76.9% in the market
- North
America dominated the market in 2020 with a revenue share of 49.0%. The
large patient pool and presence of established manufacturers are
anticipated to further strengthen market growth in this region
- The number
of sleep tests being conducted in the U.S. is increasing rapidly, as a larger
number of people are concerned about the health risks arising from sleep
apnea
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Grand View Research, Inc. is a U.S. based market
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headquartered in San Francisco. The company provides syndicated research
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including technology, chemicals, materials, healthcare and energy.
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