Sleep Apnea Devices Market

Market Overview

The global sleep apnea devices market size was valued at USD 4,584.90 million in 2022. It is expected to reach USD 9,405.63 million by 2031, growing at a CAGR of 8.3% during the forecast period (2023–2031).

Sleep apnea is a sleeping disorder characterized by an individual's abnormal breathing pattern while asleep. Untreated sleep apnea causes the brain and the rest of the body to receive insufficient oxygen, which causes people to have interrupted breathing while they sleep. Elderly patients and those with illnesses like diabetes, hypertension, cardiovascular disorders, and others are more likely to have this condition. Obstructive sleep apnea (OSA) is the most common type worldwide, and its prevention requires early diagnosis and therapeutic devices.

Market Dynamics

Global Sleep Apnea Devices Market Drivers

Geriatric Population Growth

Poor public awareness and a non-specific disease presentation make sleep apnea underdiagnosed in the elderly. An aging population and longer life spans may increase sleep disorders. By 2050, the WHO predicts that two billion people will be 60 or older. The world's over-60 population will rise from 12% to 22%. OSA is shared among the elderly (13% to 32%). Given the increased prevalence of sleep apnea among the elderly, it stands to reason that this demographic shift would lead to greater uptake of treatment options. Sleep apnea is becoming more common in the elderly due to comorbidities. A large over 60 population and rising stroke and paralysis rates are expected to increase sleep apnea device use.

Development of Comorbidities Related to Sleep Apnea

Obesity, diabetes, cardiovascular disease, and hypertension are comorbidities linked to sleep apnea. Approximately 73% of patients with episodes of stable heart failure are found to have sleep-disordered breathing, characterized by frequent apnea and hypopnea. These episodes lead to irregular breathing, negatively affecting the body (SDB). Additionally, one of the leading causes of hypertension is sleep apnea. The likelihood of developing hypertension is inversely correlated with the severity of SDB. The seriousness of these comorbid conditions is anticipated to raise awareness of sleep apnea diagnosis and treatment, which is expected to spur growth in sales of sleep apnea devices.

Global Sleep Apnea Devices Market Restraints

Less Awareness about Sleep Apnea

Continuous Positive Airway Pressure (CPAP) therapy is the first treatment option for Obstructive Sleep Apnea. However, poor CPAP adherence limits the therapy's positive effects by decreasing its effectiveness. Despite being extremely common, OSA is still largely undiagnosed. One of the leading causes of the high prevalence of OSA is low patient awareness of the effects of sleep apnea. One in five people is thought to have sleep-related disorders, but most patients' understanding of the problem is surprisingly low.

Expensive PAP Devices

The rental of the Continuous Positive Airway Pressure (CPAP) machine, humidifier, face mask or nasal mask, heated hose, filters, and numerous other accessories constitutes the initial cost of a PAP device setup at home. Depending on the manufacturer, model, and features, they can cost anywhere between USD 1,000 and USD 4,000 (without insurance). Although sleep apnea treatment is covered by health insurance, patients are still responsible for a portion of the overall cost. Additionally, newly released portable, travel-friendly CPAP devices are considered luxury goods and are not covered by insurance companies.

Additionally, patients receiving treatment for sleep apnea typically rent CPAP devices, for which they must separately purchase accessories like tubing and masks, which raises the cost of care. The high price of PAP devices is restricting market growth. According to the Journal of Clinical Sleep Medicine in 2017, the cost of CPAP machines is the main deterrent for Indians from using them. People believe that sleep apnea is harmless, which leads them to avoid spending money on treating the condition. There have been reports of incidents from a significant number of other countries. This will probably impede market expansion.

Global Sleep Apnea Devices Market Opportunities

Growing Demand for Home Sleep Apnea Tests (HSATs)

Home sleep apnea tests (HSATs) are becoming increasingly popular as people realize how convenient they are for managing sleep apnea in their homes. As a result of the pandemic, there has been a rise in demand for telemedicine, which has helped in the market growth. Artificial Intelligence (AI) and other emerging advanced technologies in sleep apnea devices are also expanding market opportunities.

Regional Analysis

North America Dominates the Global Market

By region, the global sleep apnea devices are segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America is the most significant shareholder in the global sleep apnea market and is expected to grow at a CAGR of 5.70% during the forecast period. North America is one of the leading regions for adopting sleep disorder-related technology. Some sleeping disorders are driving the market due to the increasing prevalence of respiratory diseases. Additionally, it is anticipated that the presence of international manufacturers, the sizeable patient pool, and the growing awareness of sleep apnea will increase this region's market share. Growth is also fueled by patients with sleep disorders or other medical conditions that can cause sleep disorders increasingly utilizing sleep apnea devices. Therefore, the market is anticipated to grow at a significant rate during the forecast period due to the rising adoption of sleep apnea devices in the region, the rising prevalence of other health conditions such as hypertension and cardiovascular diseases, increasing number of players trying to gain higher revenue share, and ongoing product innovations.

Europe is expected to grow at a CAGR of 6.2%, generating USD 1,803.61 million during the forecast period. Russia, Germany, France, Ukraine, Spain, and the United Kingdom are the top five European nations with the highest sleep apnea incidence (nearly 8 million). In Europe, the number of people who suffer from sleep apnea is three times higher than in the United States. However, due to a lack of knowledge about sleeping disorders, the number of people diagnosed in this region is lower than in North America. The market is likely to be driven by the rising prevalence of diseases like obesity and others brought on by sedentary lifestyles during the forecast period.

One of the main factors propelling the Asia-Pacific sleep apnea devices market is the rising geriatric population and the rising prevalence of lifestyle diseases. The market's major players are introducing cutting-edge products and launching other strategic initiatives to increase market share and raise awareness about sleep apnea. Additionally, the region's deteriorating healthcare infrastructure will probably spur growth. In addition, with growing awareness of Obstructive Sleep Apnea, the establishment of sleep laboratory facilities for testing sleep apnea patients in nations like the Philippines, Singapore, and Malaysia is likely to propel the market during the forecast period.

The rising incidence of Obstructive Sleep Apnea and other sleeping disorders, rising imports of medical devices from North America, and rising sedentary lifestyle-related diseases are boosting the sleep apnea devices market in Latin America. Another factor driving the market is the rising obesity rate in the population. For instance, according to Statista, 64% of the people of Mexico were found to be obese in 2018. Thus the market growth is likely to be fueled by the rising prevalence of chronic conditions during the forecast period. Growth is also being driven by the presence of significant players in the area who are competing for additional revenue shares. Additionally, a lack of healthcare infrastructure and a lack of knowledge about the signs of sleep apnea may hinder market expansion in the area.

One of the factors driving the sleep apnea devices market in the Middle East and Africa is the rising prevalence of chronic conditions, such as obesity, diabetes, and hypertension, as well as the increasing geriatric population. For instance, according to a study published in December 2016 in the Canadian Respiratory Journal, obesity is becoming increasingly common in the Middle East. Additionally, the United States is considered the most obese country, with Kuwait coming in second, according to a recent study from the London School of Hygiene and Tropical Medicine. Sleep apnea devices are expected to see increased demand in the region due to the rising incidence of chronic diseases that can be exacerbated by the lack of use of the devices. Despite the cost issue, the market is anticipated to grow significantly during the forecast period due to rising brand visibility, chronic conditions' prevalence, and awareness about sleep apnea in the area.

Segmental Analysis

The global sleep apnea devices are segmented by product type.

Based on product type, the global sleep apnea devices are bifurcated into diagnostic devices, therapeutic devices, and sleep apnea masks.

The therapeutic devices segment is the highest contributor to the market and is expected to grow at a CAGR of 8.2% during the forecast period. Positive airway pressure (PAP) devices, oral devices, nasal devices, and chin straps are examples of therapeutic devices. In terms of revenue share, the therapeutic devices segment dominated the entire market in 2019. Manufacturers of SA devices can anticipate lucrative opportunities due to factors like rising patient adherence to supporting treatment, increasing availability of technologically advanced devices, a growing number of initiatives by local governments, and raising awareness of these diseases. Over the forecast period, this is anticipated to fuel growth in the therapeutic devices segment.

The use of sleep apnea masks is rising due to the increasing prevalence of sleep apnea mask comorbidities and the increasing utilization of Continuous Positive Airway Pressure (CPAP) machines for managing the disease. Many SA masks are available, including nasal masks, nasal pillow masks, and full-face masks. Continuous Positive Airway Pressure (CPAP) masks serve as the interface between the SA patient and the CPAP machine. Every CPAP mask functions similarly, sending air from the CPAP machine to the patient's airway via a hose. This prevents Obstructive Sleep Apnea by preventing the airway from collapsing while you sleep. The adoption of sleep apnea masks is anticipated to be influenced by technological developments in sleep apnea devices.

The diagnostic device market is primarily driven by the growing geriatric population, susceptible to respiratory disorders, the high prevalence of obstructive sleep apnea (OSA), and the rise in comorbidities associated with sleep apnea (SA). Age-related muscle deterioration causes the airway to collapse, which causes SA and nighttime snoring. Additionally, chemosensitivity and sleep changes brought on by aging may help older people develop central sleep apnea. As a result, there will be a greater need for sleep apnea devices to manage the disease as the elderly population grows.

Recent Developments

• September 2022- GE Healthcare and Wayra teamed up with seven health tech start-ups to accelerate the digital transformation of healthcare across Europe, the Middle East, and Africa.
• February 2022- The TCM5 Flex Transcutaneous Monitor has been added to Compumedics' already comprehensive line of sleep diagnostic products due to a collaboration with Radiometer Pacific. Compumedics is now the TCM 5 Flex's authorized distributor in Australia and New Zealand.