Sleep Apnea Devices Market was Valued USD 9.17 Billion in 2023; Preference towards Technologically Advanced Devices to Drive the Market Growth

The global sleep apnea devices market size was valued at USD 9.17 billion in 2023 and is projected to reach a valuation of USD 9.70 billion in 2024. The market is expected to reach USD 18.30 billion by 2032 with a CAGR of 8.3% during the forecast period. “Sleep Apnea Devices Market Size, Share & Industry Analysis, By Device Type (Therapeutic Devices [Positive Airway Pressure Devices {Continuous Positive Airway Pressure (CPAP) Devices, Bilevel Positive Airway Pressure (BiPAP) Devices, and Others}, Masks and Accessories, and Others] and Diagnostic Devices [Polysomnography Devices, Pulse Oximeter, Actigraphy Devices, and Others], By End User (Sleep Laboratories & Clinics and Homecare & Other Settings), and Regional Forecast, 2024-2032”

Sleep apnea is a sleeping disorder where the breathing of an individual gets into abnormal pattern. People suffering with this disorder experience lack of oxygen to the brain and rest of the body parts. Early diagnosis of Obstructive Sleep Apnea (OSA) can help in its prevention with the use of therapeutic devices. The market growth is attributed to the rise in the geriatric population.

The coronavirus pandemic led to excessive stress which led to the increase in the number of patients suffering from sleep disorders. This propelled the demand for the product amongst the key market players, leading to the market growth.

Vivos Received The U.S. FDA Approval For Vivos CARE

In November 2023, for Vivos CARE, Vivos received the U.S. FDA approval (complete airway repositioning and expansion) oral appliances for patients suffering from obstructive sleep apnea (OSA). This helped the company to widen its product portfolio for sleep apnea products. This will help in the enhancement of the product portfolio of company. 

Adoption Of Technologically Advanced Devices To Propel The Demand For Product

The sleep apnea devices market growth is attributed to preference towards technologically advanced devices. These devices have been important in developing new alternatives for the management of sleep apnea. Another device, actometer is also gaining popularity owing to its low cost and non-invasive nature. Therefore, the growth in the demand for cost-effective diagnostic devices is also propelling the market growth. 

On the other hand, significant high costs for the devices and limitations in the compensation policies in the developing nations is further hampering the adoption of these devices among the patients.

Strong Product Portfolio by the Key Market Players to Boost Their Market Positions

The market has ResMed, Oventus, Cadwell Industries, Inc., Fisher & Paykel Healthcare Limited., Natus Medical Incorporated, SomnoMed, and Braebon Medical Corporation. Amongst them, ResMed dominated the market in 2023 with diverse sleep apnea devices portfolio, strong R&D investment, and wide geographical presence.

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Key Industry Development

• July 2023 – ResMed launched AirFit F40, an ultra-compact full-face mask for patients suffering from sleep apnea which has assisted in strengthening its product portfolio globally.

List of Key Players Profiled in the Market Report: -

• Koninklijke Philips N.V. (Netherlands)
• Openairway (Australia)
• Cadwell Industries, Inc. (U.S.)
• ResMed (U.S.)
• Fisher & Paykel Healthcare Limited (New Zealand)
• Invacare Corporation (U.S.)
• SomnoMed (Australia)
• Compumedics Limited (Australia)
• Braebon Medical Corporation (Canada)

Further Report Findings:

• North America leads the global sleep apnea devices market with prevalence of favorable reimbursement policies. The market was valued at USD 4.49 billion in 2023. Increasing cases of obstructive sleep apnea in the region is also propelling the market growth.
• The growth of the sleep apnea devices in Europe region is expected to grow at a significant CAGR with growth in the awareness about these devices. These is leading to the demand for the diagnostics tests in the region.
• The market in the Latin America and Middle East & Africa are set to grow at a moderate CAGR owing to less awareness regarding the disorder amongst the general population.
• Therapeutic devices dominated in 2023 due to increasing adoption of these devices due to growing number of treatment rates amongst the patients in the emerging nations. The therapeutic devices is further segmented into positive airway pressure devices, oral appliances, masks and accessories, and others. The segment held the share of 63.1% of the sleep apnea devices market share.

Table of Segmentation