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Global Sleep Apnea Devices Market is Expected to Grow at a CAGR of 6.5% in the Forecast Period of 2021-2026.

According to a new report by EMR titled, ‘Global Sleep Apnea Devices Market Report and Forecast 2021-2026, the global sleep apnea devices market size reached a value of nearly USD 8.5 billion in 2020. The market is likely to increase at a CAGR of 6.5% in the forecast period 2021-2026 to reach a value of around USD 11.7 billion by 2026.

The global sleep apnea devices market is being dominated by North America, which held the largest market share in 2020. The American Sleep Apnea Association (ASAA) was established in the United States in 1990, a non-profit organisation that provides sleep apnea awareness, seeks to develop the diagnosis and treatment of this serious disorder, and serves the interests of patients with sleep apnea.

Diagnostic devices held the highest market share of the sleep apnea devices market in 2020 and are likely to continue leading the market in the forecast period as early diagnostic demand was on the rise. Therapeutic devices are expected to witness a robust growth in the forecast period as consumer awareness levels increase.

In September 2020, Koninklijke Philips N.V. (OTCMKTS: RYLPF), one of the key players, unveiled a connected NightBalance sleep apnea monitor. The new sleep apnea product from Royal Philips is different from the traditional CPAP mask. Dubbed NightBalance, the system depends on the wearable device that is worn on the patient’s chest when they go to sleep.

Market Analysis by Diagnostic Devices, Therapeutic Devices, and Region:

  • The sleep apnea diagnostic devices include polysomnography devices (PSG), pulse oximeters, and actigraphy devices.
  • The sleep apnea therapeutic devices can be divided into oxygen devices, oral appliances therapeutic devices, adaptive servo ventilation (ASV) devices, and masks and accessories. Oxygen devices can be segmented into oxygen concentrators, portable oxygen concentrators, and liquid portable oxygen.
  • The regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market is significantly being driven by the rising geriatric population.
  • The rising cases of sleep apnea, along with other diseases, are aiding the market growth.
  • The growing awareness of the adverse side effects of untreated sleep apnea boosts the market growth
  • An increasing number of corporations joining the sleep apnea and oral equipment industry are driving the market growth.
  • The global sleep apnea devices market is being driven by advancements in medical technology, contributing to product innovation in therapeutic as well as diagnostic devices.
  • The rising competition between the sleep apnea devices companies is propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global sleep apnea devices market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the diagnostic devices, therapeutic devices, and regional markets.
  • The EMR report also provides an insight into the regional price analysis of the global sleep apnea devices market for the periods (2016-2020) and (2021-2026).

The major key players in the global sleep apnea devices market include companies like Fisher & Paykel Healthcare Limited, Invacare Corporation, Natus Medical Incorporated, Cadwell Industries Inc., Vyaire Medical, Inc., Nihon Kohden Corporation, Koninklijke Philips N.V., and ResMed Corp., among others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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