Sleep Apnea Devices Industry – Global Revenue Growth Predictions

Global Growth Dynamics for Sleep Apnea Devices Industry 

Driver: Large pool of undiagnosed sleep apnea patients

Although highly prevalent in the elderly, sleep apnea affects people of all ages and is one of the most common sleep disorders across the globe. The health impact of sleep apnea is quite substantial but under-recognized.

Worldwide data suggests that sleep apnea impacts more than 936 million people worldwide, which is nearly 10 times greater than previous estimates (Source: ResMed). In the US alone, around 22 million Americans suffer from obstructive sleep apnea (OSA); of which, 80% of moderate and severe OSA cases are undiagnosed [Source: American Sleep Apnea Association (ASAA)]. In the UK, OSA affects an estimated 1.5 million adults; up to 85% of these cases are undiagnosed or untreated. In countries with huge population bases, such as India and China, the diagnosis rate of OSA is <1% (Source: Press Trust of India, 2017 and China.org.cn).

Another study from ResMed states that up to 4% of all children suffer from sleep apnea, which is commonly misdiagnosed as attention deficit hyperactivity disorder (ADHD). Also, up to 20% of children who habitually snore suffer from sleep apnea as well (Source: ASAA). This leaves a colossal pool of undiagnosed individuals suffering from OSA.

Expected Revenue Growth Globally:

The market for sleep apnea devices is expected to grow from USD 4.5 billion in 2019 to USD 7.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 10.7% during the forecast period.

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Recent Developments in the Industry: 

# In 2019, ResMed (US) launched AirFit N30i, its first top-of-head-connected nasal CPAP mask, across the US with a newly designed nasal cradle cushion that sits just under the wearer’s nose.

# In 2016, Koninklijke Philips (Netherlands) launched its Dream Family solution which comprises of a DreamWear mask, DreamStation PAP device, and DreamMapper patient engagement app. 

Major Objectives Behind This Study:

# To define, describe, and measure the global market by type, end user, and region.

# To provide detailed information about major factors influencing market growth (such as drivers, restraints, growth opportunities, and challenges).

# To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the global market.

# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.

# To forecast the size of the market in North America, Europe, Asia Pacific (APAC), and the Rest of the world (RoW).

# To strategically analyze the market structure and profile key players and their core competencies3 in the global market.

# To track and analyze competitive developments such as service launches, expansions, acquisitions, partnerships & collaborations; in the market.

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