Global Sleep Apnea Devices Market By Product Type (Therapeutic Devices and Diagnostic Devices) By Therapeutic Devices Type (PAP Devices, Oral Devices, Nasal Devices and Chin Straps) By Diagnostic Devices Type (Polysomnography, Respiratory Polygraphs, Pulse Oximeters and Actigraphs) By Region, Industry Analysis and Forecast, 2019 - 2025
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Market Report Description
The Global Sleep Apnea Devices Market size is expected to reach $8.8 billion by 2025, rising at a market growth of 7.2% CAGR during the forecast period. The problem of sleep apnea occurs when the upper airway is blocked again and again during sleep. Previously, tracheostomy was the only effective treatment for obstructive sleep apnea, which bypasses upper obstruction of the airway. A drastic breakthrough in the treatment of sleep apnea was the introduction of continuous positive airway pressure (CPAP) therapy. Rising technical advances in diagnostic and therapeutic tools for sleep apnea would further accelerate growth in the industry.
Global Sleep Apnea Devices Market Size
Advancements in sleep apnea research contributed to the development of many common apnea treatments for sleep. Moreover, many companies are involved in the development of sophisticated equipment that increases demand for this equipment. Largely untapped opportunities in emerging countries can, over time, accelerate sector growth. Awareness and favorable reimbursement may increase acceptance among humans of devices related to sleep apnea disorders.
Various factors that drive the growth of sleep apnea market include growing awareness, geriatric population, disease prevalence, and the need to diagnose and treat OSA effectively. Technological advances in patient safety and convenience will boost therapy enforcement, particularly in developed markets. Recent years have seen a dramatic rise in demand for OSA treatment and therapy as a result of increasingly increasing occurrence of sleep apnea, increased awareness, availability of reimbursement and increased patient care.
Sleep Apnea Devices Market Share
With the sudden break of Covid-19 in late months of year 2019, the markets worldwide are unfortunately experiencing its grip. The suppliers and consumers of the products & Services are affected in a big way across the sectors resulting in declining revenues in last quarters of year 2019.
Based on Product Type, the market is segmented into Therapeutic Devices and Diagnostic Devices. Based on Therapeutic Devices Type, the market is segmented into PAP Devices, Oral Devices, Nasal Devices and Chin Straps. Based on Diagnostic Devices Type, the market is segmented into Polysomnography, Respiratory Polygraphs, Pulse Oximeters and Actigraphs. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Sleep Apnea Devices Market to reach a market size of $8.8 billion by 2025
Sleep Apnea Devices Market Cardinal Matrix
The major strategies followed by the market participants are Product Launches and partnerships. Based on the Analysis presented in the Cardinal matrix, Mitsui Chemicals, Inc. and Koninklijke Philips NV are the forerunners in the Sleep Apnea Devices Market. Companies such as ResMed, Inc., Oventus Medical Ltd., Fisher & Paykel Healthcare Corporation Limited, SomnoMed Limited, and Teleflex, Inc., BRAEBON Medical Corporation, and Panthera Dental, Inc. are some of the key innovators in Sleep Apnea Devices Market.
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Koninklijke Philips N.V., Fisher & Paykel Healthcare Corporation Limited, SomnoMed Limited, Mitsui Chemical, Inc. (Whole You, Inc.), Teleflex, Inc., ResMed, Inc., Oventus Medical Ltd., Panthera Dental, Inc. (Panthera Sleep), BRAEBON Medical Corporation, and BMC Medical Co., Ltd.
Recent Strategies Deployed in Sleep Apnea Devices Market
» Partnerships, Collaborations, and Agreements:
- Oct-2019: ResMed collaborated with Cerner Corporation, a provider of health information technology solutions. The collaboration was focused on helping the providers in making more informed treatment decisions, controlling costs, and providing seamless care across health systems to the home.
- Aug-2019: Oventus announced collaboration with Delaware Sleep Disorder Centres and Reliable Respiratory. Through this collaboration, the company aimed to deliver its O2Vent sleep apnea treatment device to both the customers in the United States.
- Mar-2019: Royal Philips came into partnership with Fakeeh Care, a healthcare service provider. The partnership was aimed at enabling the patients across the Kingdom for taking an active role in their sleep apnea therapy using innovative end-to-end diagnostic and therapeutic solutions to manage and treat obstructive sleep apnea (OSA).
- Jul-2018: ResMed signed an agreement with Verily, an Alphabet company. Following the agreement, the companies were aimed at establishing a joint venture company through combining the expertise of ResMed in sleep apnea and Verily’s advanced health data analytics technologies. The joint venture company aimed to study the health and financial impacts of undiagnosed and untreated sleep apnea, and develop software solutions. This allows the healthcare providers to more efficiently identify, diagnose, treat and manage individuals with sleep apnea and other breathing-related sleep disorders.
- Jun-2018: SomnoMed teamed up with 3Shape, a developer and manufacturer of 3D scanners and CAD/CAM software solutions. Following the collaboration, the TRIOS intraoral scanner users can send a patient’s digital impressions through the TRIOS Communicate cloud directly to SomnoMed for the production of its sleep and bruxism devices.
» Acquisition and Mergers:
- Mar-2019: ResMed completed the acquisition of HB Healthcare (HBH), a provider of systems-improvement education. Through this acquisition, the company aimed to help millions of South Koreans living with sleep apnea, chronic obstructive pulmonary disease (COPD), and other respiratory conditions.
- Jan-2019: ResMed took over Propeller Health, a digital therapeutics company that provides connected health solutions for people living with chronic obstructive pulmonary disease (COPD) and asthma. The acquisition strengthened the product portfolio of the company.
- May-2018: Royal Philips acquired NightBalance, a digital health scale-up company. The acquisition helped the company in further expanding its leadership position in the growing home care market, and its ability to deliver integrated solutions for efficiencies and improved outcomes.
» Geographical Expansions:
- Mar-2018: Royal Philips opened a Sleep and Respiratory Education Center at its regional headquarters, the Philips APAC Center, in Singapore. The center provides training to healthcare professionals throughout the region to diagnose and treat sleep disorders in a better way.
» Product Launches and Product Expansions:
- Feb-2020: Fisher & Paykel Healthcare unveiled the F&P Evora, a new nasal mask. This mask is used in the treatment of obstructive sleep apnea (OSA).
- Oct-2019: Fisher & Paykel Healthcare launched the F&P Vitera, a new mask for obstructive sleep apnea (OSA). The mask offers dynamic support through the RollFit XT Seal that has been designed for minimizing leaks and pressure on the bridge of the nose.
- Sep-2019: Royal Philips launched Philips NightBalance, a prescription sleep position therapy device. This device has been designed for patients with positional obstructive sleep apnea (OSA). Philips NightBalance uses gentle vibrations for helping users in altering their sleeping positions to help prevent apneas.
- Jan-2019: Oventus Medical introduced the nylon-made O2Vent Optima device to treat sleep apnea in Australia. This is an addition to the Oventus sleep treatment platform.
Scope of the Sleep Apnea Devices Market Analysis
By Product Type
- Therapeutic Devices and
- Diagnostic Devices
By Therapeutic Devices Type
- PAP Devices
- Oral Devices
- Nasal Devices and
- Chin Straps
By Diagnostic Devices Type
- Respiratory Polygraphs
- Pulse Oximeters and
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Koninklijke Philips N.V.
- Fisher & Paykel Healthcare Corporation Limited
- SomnoMed Limited
- Mitsui Chemical, Inc. (Whole You, Inc.)
- Teleflex, Inc.
- ResMed, Inc.
- Oventus Medical Ltd.
- Panthera Dental, Inc. (Panthera Sleep)
- BRAEBON Medical Corporation
- BMC Medical Co., Ltd.
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Sleep Apnea Devices Market Related Reports:
What would be the size of sleep apnea devices market in 2025?
According to a new report published by KBV Research, The sleep apnea devices market is projected to reach USD 8.8 billion by 2025.
What is the impact of COVID-19 pandemic on the driving and restraining factors of the sleep apnea devices market?
The market is expected to witness a boost due to Large pool of undiagnosed sleep apnea patients, OSA treatment developments, Increasing focus on telemedicine and mHealth (mobile health). The market growth is expected to get affected due to sleep apnea business could slow down among the coronavirus pandemic.
At what CAGR is the sleep apnea devices market estimate to grow in the forecast period?
The expected CAGR of sleep apnea devices market is 7.2% from 2019 to 2025.