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Press Release

Sleep Apnea Devices Market size worth USD 8.8 billion by 2023, at a CAGR of 7.7% from 2016 to 2023

Global Market Insights Inc.
Posted on: 17 Oct 16
Sleep Apnea Devices Market size worth USD 8.8 billion by 2023, at a CAGR of 7.7% from 2016 to 2023

Growing co-morbid condition prevalence including hypertension, type II diabetes, cardiovascular diseases, and obesity should be the major driving force for global sleep apnea devices market growth. Technology evolution, in terms of patient safety and comfort, government initiatives aiming at curbing the healthcare expenditure associated with these disorders will also stimulate industry development. 

Moreover, rising awareness among patients for early sleep apnea diagnosis is expected to result in healthy growth. Global sleep apnea devices market size USD 4.9 billion in 2015, with 7.7% CAGR industry growth estimate.

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Technologically efficient devices including the introduction of winx sleep therapy which has enhanced the patient comfort level to breathe naturally through their nose, without any mask hindrance, and various compact devices. Companies in the market are involved in rigorous investments to develop easy to use, effective and compact sleep apnea devices. Provent, is one such disposable device that depends on natural breathing of patient to create expiratory positive airway pressure and eliminates the use of mask. 

Oral appliances are set to showcase highest penetration in the coming years among the therapeutic devices owing to the rising base of geriatric population suffering from proliferative diabetic retinopathy, with growth anticipation of 12.1% CAGR over 2016 to 2023. Oral appliance treatment is one of the highly recommended treatment options for patients suffering from mild to moderate obstructive sleep apnea, and an alternative for patients experiencing discomfort or not responding to CPAP therapy. 

Polysomnography device and actigraphy systems will continue to be a critical diagnostic segment throughout the forecast timeframe, contributing significantly to industry revenue owing to their wide usage and accurate results. 

Rapid economic development and increasing usage of medical disposable products across India, Brazil, China, South Korea, Malaysia, and Indonesia should offer a lucrative growth platform for players in the market. With significant potential from China and India sleep apnea devices market share, APAC could see regional revenue exceed USD 2.1 billion by 2023.

APAC sleep apnea devices market was dominated by Japan, with strong infrastructure and awareness levels. China and India, are emerging industries in APAC, with both slated to grow at more than 11% CAGR through to 2023. 

To access sample pages or view this report titled, “Sleep Apnea Devices Market Size By Therapeutics [Airway Clearance System, Adaptive Servo-Ventilation, Positive Airway Pressure (PAP), Oral Appliance, Oxygen Device], By Diagnostics [Actigraphy System, Polysomnography Device (PSG), Respiratory Polygraph, Single-Channel Screening Device (Pulse Oximeter)] Industry Analysis Report, Regional Outlook (U.S., Mexico, UK, Germany, Japan, China, India, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents, please click on the link below:

Key insights from the report include:

  • Global sleep apnea devices market size is anticipated to see 7.7% CAGR by 2023, at USD 8.8 billion industry revenue valuation.
  • U.S. sleep apnea devices market size led North America, at over 88% of 2015 regional revenue. Favorable regulatory initiatives to control these disorders, introduction of portable and technologically advanced products, and rising incidence rates of co-morbidities will drive development. 
  • Diagnostics segment dominated global sleep apnea devices market share in 2015, generating revenue of more than USD 2.4 billion. 
  • Europe sleep apnea devices market share is slated to showcase stable growth, with UK and Germany bringing in over 44% of 2015 revenue. 
  • The sleep apnea devices industry is dominated by giant players globally, making it difficult for the new players to enter and sustain in the market. 
  • India sleep apnea devices market is the fastest growing industry in APAC, set to witness 11.3% CAGR during the forecast period, followed by China. However, Japan grabs the largest share in terms of revenue exceeding USD 750 million by 2023.
  • ResMed and Philips Respironics dominate global sleep apnea devices market share, with Carefusion, Cadwell, Braebon and Compumedics being other prominent participants.
Editor's Details

Juee Kate

Last updated on: 17/10/2016

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