DUBLIN, Nov. 13, 2023 /PRNewswire/ — The “Global Sleep Apnea Market Analysis & Forecast to 2023-2033: Market By Product; By End-user; and by Region” report has been added to ResearchAndMarkets.com’s offering.
The global sleep apnea market size was estimated to be USD 6.25 Billion in 2023 and is expected to reach at USD 13.8 Billion by 2033 with a CAGR of 7.47% during the forecast period 2023-2033.
Growing rates of apnea in the elderly population, rising chronic disease prevalence, rising public awareness, altering lifestyles associated with rising rates of hypertension and obesity, growing numbers of patients with OSA, technologically advanced devices, rising adoption rates of CPAP machines in disease management, and rising demand for early-stage diagnosis are the key factors driving the growth of this market.
Rising collaborations and partnerships between key market players is expected to boost the market growth during the forecast period. For instance, in February 2021, Nyxoah SA and Vanderbilt University joined together to provide cutting-edge neurostimulation treatments for OSA.
By product, therapeutic devices was the highest revenue-grossing segment in the global sleep apnea market in 2022 owing to increasing prevalence of sleep disorders, growing cases of OSA, rising awareness regarding OSA, rising government support & initiatives, increasing demand for novel therapeutic in sleep apnea management, and surge in launch of technologically advanced devices. For instance, in April 2022, Fisher & Paykel Healthcare has introduced Evora Full, a compact full-face mask designed for the treatment of obstructive sleep apnea in the United States. Additionally, Sleep apnea masks is predicted to grow at fastest CAGR during the forecast period owing to rising adoption of sleep apnea masks, surge in prevalence of OSA, and increasing adoption of CPAP machines in disease management.
By end-user, home care settings & individuals was the highest revenue-grossing segment in the global sleep apnea market in 2022 owing to increasing adoption of user-friendly home care sleep apnea devices and rising product approvals by regulatory bodies. For instance, in February 2023, A medical device start-up called Sunrise, based in Belgium, has obtained FDA approval for its portable sleep apnea testing device intended for use at home. Additionally, Sleep laboratories & hospitals is predicted to grow at fastest CAGR during the forecast period owing to surge in number of sleep technicians, increasing number of patients visiting sleep laboratories, and growing reimbursement policies.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in changing lifestyles, increasing disposable income, favourable government initiatives, rising prevalence of obesity, growing awareness about OSA, increase in number of sleep centres, and increasing launch of new products. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to rising prevalence of sleep apnea, growing demand for advanced sleep apnea devices, and increasing technological advancements. For instance, in November 2022, HealthNet Global has unveiled a new eCommerce website specifically dedicated to guiding patients in finding the most suitable supplies for the effective treatment of Obstructive Sleep Apnea (OSA).
Sleep Apnea Market Analysis & Forecast By Product 2022-2033
- Sleep Apnea Masks
- Oral Devices
- Airway Clearance System
- Nasal Devices
- Oxygen Devices
- Chin Straps
- Positive Airway Pressure (PAP) Devices
- PolysoBnography (PSG) device
- Actigraphy Systems
- Pulse Oximeters
- Sleep screening Devices
- Respiratory Polygraphs
- Homecare Nurses
- ENT Specialists
- Sleep Physicians
Sleep Apnea Market Analysis & Forecast By End-user 2022-2033
- Sleep Laboratories & Hospitals
- Home Care Settings & Individuals
Sleep Apnea Market Analysis & Forecast by Region 2022-2033
- Phillips Respironics
- Fisher & Paykel Healthcare Limited
- Curative Medical Inc.
- Invacare Corporation
- Somnetics International Inc.
- BMC Medical
- Natus Medical Incorporated
- SOMNOmedics GmbH
- Compumedics Limited
- Itamar Medical Ltd.
- Kohden Corporation
For more information about this report visit https://www.researchandmarkets.com/r/4yj82v
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