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Sleep Apnea Devices Market Recent Trends and Competitive Analysis Report 2022-2029 | DataM Intelligence

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Sleep Apnea Devices Market Recent Trends and Competitive Analysis Report 2022-2029 | DataM Intelligence

July 22
02:56 2022
Sleep Apnea Devices Market Recent Trends and Competitive Analysis Report 2022-2029 | DataM Intelligence
Some of the key players which are contributing to the growth of the market include Philips Healthcare, Cadwell Laboratories Inc., Fisher & Paykel Healthcare Limited, Natus Medical Incorporated, ResMed, Nihon Kohden Corporation, Invacare Corporation, keepMED Ltd., Sleep score, BMC Medical CO., Ltd, ImThera Medical Inc.

Sleep Apnea Devices Market is segmented By Device Type (Diagnostic Devices, Therapeutic Devices, PAP Devices, Facial Interfaces, Oral Appliances, Adaptive servo-ventilators, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

Sleep Apnea Devices Market is predicted to reach a high CAGR  of 6.2% during the forecast period (2022-2029). Sleep apnea is a potentially serious sleep disorder in which breathing repeatedly stops and starts. The goal of sleep apnea treatment is to open the airway so the patient can breathe better at night. Sleep apnea devices can help that happen. Among the most common options are CPAP machines, Facial Interfaces, Adaptive servo-ventilators, and others.

North America region holds the largest market share of the global sleep apnea devices market

The global sleep apnea devices market growth is driven by the increasing incidences of sleep apnea, a rise in the aged population, a surge in the occurrence of obesity and hypertension, and rising cognizance among the patient population in emerging economies.

Ongoing technological advancements are expected to drive the growth in the forecast period

The development of new technologies for the treatment and diagnosis of the disease is driving the market growth. Moreover, new alternatives to CPAP equipment such as nasal and oral equipment are developed for patients with low CPAP tolerance. For instance, In February 2021, GoPAPFree, a homecare oral devices manufacturer for OSA, launched O2 Vent Optima to serve as an effective and more convenient CPAP alternative. This device increases sleep apnea therapy response by 40.0%. In February 2020, Fisher and Paykel launched F&P Evora with CapFit headgear, a compact nasal mask for treating sleep apnea. The company launched this product in the markets of New Zealand, Europe, Australia, and Canada.

For instance, in 2019, ResMed launched AirFit N30i, its first top-of-head-connected nasal CPAP mask, across the U.S. with a newly designed nasal cradle cushion that sits just under the wearer’s nose. The trend is shifting towards mHealth apps for remote monitoring of sleep, enhancement of patient outcomes, and real-time screening of patient data. Detection of symptoms of sleep apnea is done by the built-in sensor technology available in smartphones. These factors are driving the market growth in the forecast period.

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The high cost of CPAP machines is likely to hamper the market growth

For instance, a machine with a heated humidifier costs more than a machine without one. CPAP air filters can cost anywhere from $5 to $30 each, depending on the type of machine. Headgear and mask set generally cost $100 r more. Smaller pieces that need replacing more often, such as mask cushions, range from $20 to $100. The medical visits to multiple locations, the inconvenient and high cost of diagnosis, and therapy create a huge hurdle for patients. These factors will hamper the market in the forecast period.

Segment Analysis

The pulse oximeters segment is expected to hold the largest share in this market segment

The application of pulse oximetry to investigate and diagnose obstructive sleep apnea in adults and children consists of different practices.

Medtronic manufactures a pulse oximeter called Nellcor portable SpO2 patient monitoring system, PM10N. This device is ideal for instant checks and continuous monitoring in various healthcare and also home use settings. Its ergonomic shape and simple design make it intuitive to use and simple to operate. The availability of these types of devices will help with the market growth.

Competitive Landscape

The global sleep apnea devices market is highly competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Philips Healthcare, Cadwell Laboratories Inc., Fisher & Paykel Healthcare Limited, Natus Medical Incorporated, ResMed, Nihon Kohden Corporation, Invacare Corporation, keepMED Ltd., Sleep score, BMC Medical CO., Ltd, ImThera Medical Inc., and others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of Sleep Apnea Devices globally. For instance, In February 2021, Oventus Medical launched 02Vent Optima, a customizable oral appliance therapy device that offers an alternative to CPAP therapy in the US through GoPAPfree.

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