Sleep Apnea Devices Market Forecast to 2025: Comprehensive Analysis by Device Type and End-User
This report provides an in-depth analysis of the sleep apnea devices market, categorizing it into diagnostic devices, therapeutic devices, and end-users. The diagnostic devices segment includes polysomnography devices, respiratory polygraphs, actigraphy systems, and single-channel screening devices. Among these, polysomnography devices hold the largest market share.
In terms of therapeutic devices, the market is divided into several categories: facial interfaces, Adaptive Servo-Ventilation (ASV) instruments, Positive Airway Pressure (PAP) devices, oxygen concentrators, airway clearance systems, oral appliances, and their accessories. Notably, PAP devices dominate the therapeutic segment in market share.
When considering end-users, the global sleep apnea devices market is segmented into hospitals and home care settings. The overall market is projected to reach approximately US$ 8,305.3 million by the end of 2025, growing at a compound annual growth rate (CAGR) of 7.9% from 2018 to 2025, up from US$ 4,607.9 million in 2017.
The expansion of the sleep apnea devices market can be attributed to several factors, including the increasing adoption of oral devices. Furthermore, advancements in technology are propelling market growth. For example, in May 2017, Fisher & Paykel introduced the innovative F&P SleepStyle CPAP device, designed specifically for the diagnosis and treatment of obstructive sleep apnea (OSA) by sleep specialists.
Another significant driver of market growth is the rising geriatric population, which is more susceptible to sleep apnea. Additionally, strategic initiatives by leading companies, such as geographical expansion, product launches, partnerships, and collaborations, are further stimulating market growth. For instance, in October 2017, ResMed launched the AirFit N20 Classic nasal mask for CPAP treatment in Europe, offering patients various options for achieving a secure mask seal and ensuring a comfortable night's sleep.
North America presents substantial growth opportunities for the sleep apnea devices market. Factors contributing to this growth include the heightened focus of market players in the United States and Canada, ongoing product innovations by key industry players, and the increasing prevalence of sleep apnea in the U.S. These elements are expected to significantly enhance the market for sleep apnea devices in North America.
The competitive landscape of the sleep apnea devices market features a mix of established companies and emerging players. Notable organizations in this sector include ResMed, Koninklijke Philips N.V., Fisher & Paykel, Braebon Medical Corporation, Compumedics Limited, BMC Medical Co., Ltd., Fisher & Paykel Healthcare Limited, SomnoMed Limited, Weinmann Emergency Medical Technology GmbH + CO. KG, and Devilbiss Healthcare LLC, among others.
In conclusion, the sleep apnea devices market is poised for significant growth driven by technological advancements, an aging population, and strategic initiatives by key players. As the market evolves, it will be essential for stakeholders to stay informed about emerging trends and innovations to capitalize on the opportunities presented in this dynamic field.