The sleep apnea devices market is likely to thrive at an average CAGR of 9.5% between 2023 and 2033. The market is anticipated to cross a market share of US$ 20.4 billion by 2033, while it is valued at US$ 8.2 billion in 2023.
- The higher amount of kidney failures, tonsils, and obesity cases, along with the advanced technology pushing patients to adopt the latest technology, is fueling the demand for sleep apnea devices.
- An inactive lifestyle has led masses to lifestyle-related diseases, such as strokes, heart-related complications, inactive insulin supply, etc. The case of sleep apnea is similar, and more people indulging in the modern-urban lifestyle are likely to positively impact the market.
- Higher consumption of alcohol and cigarettes also triggers sleep apnea, as it weakens the respiratory muscles and throat. Thus, more people indulging in smoking and drinking are likely to fuel the demand for sleep apnea devices.
- An increasing number of companies venturing into the healthcare equipment sector is flourishing, with the demand for sleep apnea devices. Furthermore, the increasing focus on telemedicine and its integration with AI is anticipated to transform the market’s future.
- Government authorities are investing heavily in advancing the healthcare sector to counter severe diseases, such as sleep apnea.
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Key Points
- The United States market leads the space in terms of market share. The market is expected to cross a value of US$ 9.5 billion by 2033. The regional market is expected to thrive at a CAGR of 9.3% between 2023 and 2033. The growth is attributed to the higher population with lower physical activity and high alcohol and smoking consumption.
- Japan sleep apnea devices industry is another significant market. It thrives at a steady CAGR of 8.9% during the forecast period. The market is likely to reach a value of US$ 993.6 million by 2033. The excessive growth is attributed to higher awareness and an increased number of wellness centers.
- Therapeutics are likely to thrive in the product category, as it involves a mixture of medication, practices, and devices. It is expected to thrive at a CAGR of 9.4% during the forecast period.
- The sleep laboratories & hospitals segment tops the end-user category, with an expected CAGR of 9.1% between 2023 and 2033. The growth is attributed to higher consumption and extended research and development programs.
Competitive Landscape
The key competitors focus on creating new home sleep tests, and treatment solutions like continuous positive airway pressure (CPAP). Along with this, key players also provide tissue removal, tissue shrinkage, jaw repositioning, and implants. Key competitors also merge, acquire, and partner with other companies to increase the supply chain and distribution channel. The key players in the market are: BMC Medical Co., Ltd., LivaNova PLC, Cadwell Laboratories Inc., Fisher & Paykel Healthcare, Invacare Corporation
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For instance:
- BMC Medical Co has introduced its SDB diagnostic devices along with non-invasive ventilators (CPAP & BPAP) named G2S Auto CPAP system, G2S BPAP system, and G3 CPAP system (G3 C20)
- Cadwell Laboratories Inc. has launched its integrated sleep apnea solutions, such as Easy III, and Easy Ambulatory 2. These systems are the integrated solutions of PSG and HSAT sleep diagnostics.
Key Segments
By Product:
- Therapeutics
- Airway Clearance Systems
- Adaptive Servo-ventilation (ASV)
- Positive Airway Pressure (PAP) Device
- Oral Appliances
- Oxygen Devices
- Others
- Diagnostics
- Actigraphy Systems
- Polysomnography (PSG) Device
- Respiratory Polygraph
- Sleep Screening Devices
By End User:
- Home Care Settings & Individuals
- Sleep Laboratories & Hospitals
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