- Need for alternative to CPAP (continuous positive airway pressure) therapy opens up lucrative avenues in sleep apnea devices market; advancements in positive airway pressure (PAP) devices propels revenue gains
ALBANY, N.Y., April 07, 2022 (GLOBE NEWSWIRE) -- Increasing insurance coverage for obstructive sleep apnea has boosted commercialization prospects for airway clearance systems, positive airway pressure [PAP] devices, oral appliances in regions where the sleep apnea has a high prevalence. Furthermore, extensive promotional efforts by med-tech companies have added momentum to the growth of the sleep apnea devices market. The global valuation of the market is projected to reach US$ 14.7 Bn by 2028, advancing at CAGR of 8.5% during the forecast period of 2021–2028.
The harmful sequelae of obstructive sleep apnea (OSA) is associated with reduced quality of life in terms of cardio- and cerebrovascular morbidity and significant risks of occupational and traffic accidents. Advancements in oral appliance therapy is projected to reduce the severity of OSA, notably custom-made titratable mandibular advancement devices (MAD), thus expanding the revenue streams in sleep apnea devices market.
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Innovation in BiPAP (Bilevel Positive Airway Pressure) machines is expanding options for patients with severe sleep apnea. In recent years, collaborations have facilitated the sales of products through sleep clinics in the U.S., observed the analysts in the TMR study on the sleep apnea devices market. CPAP (Continuous Positive Airway Pressure) devices have been widely accepted among patients, generating sizable revenues to the sleep apnea devices market over the years.
Key Findings of Sleep Apnea Devices Market Study
- Alternative to CPAP Therapy Underpins Incredible Avenue: Although continuous positive airway pressure (CPAP) devices have emerged as a standard treatment for patients with moderate-to-severe OSA, the clinical effectiveness is relatively low. Consequently, the concerns have opened up new opportunities for med-tech companies in the sleep apnea devices market. They are keenly spending on the research and development of alternatives that can help overcome limitations of low patient acceptance and adherence of CPAP.
- Substantial Demand for Non-invasive Oral Appliances to Propel Revenue Growth: Widespread demand non-invasive treatment options for OSA is bolstering the clinical acceptance of oral appliances with new designs and modes of action. In this regard, custom-made oral appliances have unlocked a new avenue for companies in the sleep apnea devices market. The expanding array of mandibular advancement devices (MADs) has expanded the treatment modality in sleep apnea. Furthermore, the commercialization of new models of PAP in recent years has boosted revenue generation in the sleep apnea devices market.
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Sleep Apnea Devices Market: Key Drivers
- High cardiovascular morbidity and mortality presents a pressing need for effective management. Increased focus on multidisciplinary approach that helps in an accurate management of the disease is driving the evolution of the sleep apnea devices market.
- Rising acceptance of mHealth and telemedicine apps among healthcare providers and patients, especially over recent years, has enriched the value chain of the sleep apnea devices market.
Sleep Apnea Devices Market: Regional Growth Dynamics
- North America held a major share of the global sleep apnea devices market in 2020. The high prevalence of sleep apnea has spurred the uptake of products over the years. In addition, the growth has been fueled by favorable reimbursement policies for diagnostic and therapeutic devices.
- Asia Pacific is expected to expand at promising pace during the forecast period, with Japan and Australia offering potential lucrative avenues. The revenue potential in the Asia Pacific sleep apnea devices market is underpinned by the growing awareness of the morbidity associated with OSA.
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Sleep Apnea Devices Market: Key Players
A high degree of fragmentation has defined the landscape of the market, mainly due to presence of several players with significant stakes. Some of the prominent players in the sleep apnea devices market are SomnoMed Limited, Panthera Dental, Oventus Medical, Löwenstein Group, Koninklijke Philips N.V., Devilbiss Healthcare LLC, Compumedics Limited, Braebon Medical Corporation, and BMC Medical Co., Ltd.
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Global Sleep Apnea Devices Market: Segmentation
Sleep Apnea Devices Market, by Diagnostic Device
- Actigraphy Systems
- Polysomnography (PSG) Devices
- Respiratory Polygraph
- Single-channel Screening Devices (Pulse Oximeters)
Sleep Apnea Devices Market, by Therapeutic Device
- Airway Clearance Systems
- Adaptive Servo-ventilation (ASV)
- Positive Airway Pressure (PAP) Devices
- Oral Appliances
- Oxygen Devices
- Others
Sleep Apnea Devices Market, by Region
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- Australia
- India
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
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Sleep Apnea Implants Market: Substantial growth in number of people living with sleep apnea disease is foreseen to boost the sales opportunities in the global sleep apnea implants market during the assessment period of 2020 to 2030. Sleep apnea is a health condition in which a patient experiences constant breathing issue while they are sleeping. This scenario may lead to the problem of snoring.
Sleep Apnea Oral Appliances Market: Sleep apnea is a disorder, wherein breathing is disturbed during sleep due to oxygen insufficiency in the body and brain. This can lead to airway blockage called obstructive sleep apnea. Certain diagnostic tests and therapeutic devices are used by doctors and patients to treat these conditions. Sleep apnea is the most common disorder among the geriatric population and remains undiagnosed most of the times due to lack of awareness and improper diagnosis.
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