Dublin, Dec. 29, 2022 (GLOBE NEWSWIRE) -- The "Global Sleep Apnea Devices Market By device type, By end user & By region-Forecast Analysis 2022-2028" report has been added to ResearchAndMarkets.com's offering.
Global Sleep Apnea Devices Market was valued at USD 3.85 billion in 2021, and it is expected to reach USD 5.98 billion by 2028, at a CAGR of 5.9% during the forecast period (2022-2028).
The rising incidence of OSA is attributed to changing lifestyles, an aging population, and an increase in chronic diseases. Due to poor OSA presentation and a general lack of knowledge, the rising prevalence of apnea in the elderly population continues to go undiagnosed. The worldwide elderly population's longer average life span is anticipated to increase the prevalence of sleep problems.
Segments covered in this report
The Global Sleep Apnea Devices Market is segmented based on the Device type, End-User, and Region. Based on the Device Type, the Global Sleep Apnea Devices Market is segmented into Therapeutic Devices and Diagnostic Devices. Based on the End-User, the Global Sleep Apnea Devices Market is segmented as Sleep Laboratories & Clinics and Homecare & Other Settings. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Driver
In 2020, 13.0% to 32.0% of the world's elderly population will be affected with OSA, which is becoming common. As a result, it is projected that the usage of sleep apnea devices would increase due to the growing senior population and greater awareness. Sleep apnea is becoming more common due to changing lifestyles, as well as the rising frequency of obesity and hypertension.
Restraint
CPAP machines are the most popular form of treatment for those who have sleep apnea.
These devices come in a range of sizes and designs. The cost varies according to the type, brand, and features. However, the retail price of a CPAP machine might range from $250 to $1,000 or more.
This is impeding market expansion. Therefore, businesses should collaborate with specialists to innovate in reasonably priced equipment.
Market Trends
In order to lessen concentration in a few countries during the ongoing COVID-19 epidemic, a number of multinational corporations and new players in the sleep apnea devices market have already begun re-evaluating their supply chains and are in the process of shifting their business operations. However, the absence of insurance coverage for OSA and the therapeutic and diagnostic equipment associated with it is impeding market expansion in emerging economies like India. Therefore, to boost patient acceptance of these devices, med-tech companies in the sleep apnea devices industry should spend in marketing and advertising. These developments will compel insurance providers to cover OSA and associated comorbidities such as sleep apnea.
| Report Attribute | Details |
| No. of Pages | 157 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $3.85 Billion |
| Forecasted Market Value (USD) by 2028 | $5.98 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
Companies Mentioned
- Koninklijke Philips N.V. (Amsterdam, Netherlands)
- Oventus, Indooroopilly (Australia)
- Cadwell Industries, Inc. (Kennewick, U.S.)
- ResMed (San Diego, U.S.)
- Fisher & Paykel Healthcare Limited (Auckland, New Zealand)
- Natus Medical Incorporated (Pleasanton, U.S.)
- SomnoMed (Sydney, Australia)
- DeVilbiss Healthcare LLC (Pennsylvania, U.S.)
- Braeburn Medical Corporation (Ontario, Canada)
For more information about this report visit https://www.researchandmarkets.com/r/85eddr
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