Sleep Apnea Devices Market Size to Exceed USD 20 billion by 2035 | Roots Analysis

The increasing prevalence of sleep apnea in recent years is attributed to various factors, including lifestyle changes and obesity. Sleep apnea, characterized by interruptions in breathing during sleep, poses significant health risks and can impact overall well-being. 

Addressing this issue requires a multi-faceted approach, including lifestyle modifications and weight management plays a pivotal role in managing sleep apnea. Additionally, advancement in medical technologies, like PAP device (CPAP machine, BiPAP devices, APAP devices), oral devices, implanted devices and sleep apnea nasal devices offer effective solutions to improve breathing patterns during sleep.

According to a new report by Roots Analysis, the sleep apnea devices market sizeis anticipated to be worth USD 12.8 billion in 2023, and this value is likely to reach over USD 22.8 billion by 2035, expanding at a CAGR of ~5%.

Key Report Takeaways 

§  Presently, over 25 companies claim to offer medical devices for the diagnosis of sleep apnea; more than 10 such players have entered this domain post-2010.

§  Nearly 90% of the devices are home sleep apnea testing devices that are capable of measuring various parameters to detect sleep apnea; nearly 65% of these devices can diagnose obstructive sleep apnea

§  Presently, the market is dominated by the presence of small (2-50 employees) players, who represent 46% of the contemporary market landscape. Of these, around 50% of the players are headquartered in North America.

§  More than 195 therapeutic devices currently available for the treatment of sleep apnea, across the globe; nearly 40% of these offer positive airway pressure devices

§  The growing interest in this domain is evident from the rise in partnership activity; acquisitions emerged as the most prominent type of partnership model adopted by players based in the US

§  Since 2019, more than 1,600 patents have been filed / granted by various stakeholders in order to protect the intellectual property generated within this domain

§  Foreseeing the lucrative potential, many public and private investors players have made investments worth ~USD 2 billion; 46% of the funding initiatives were led by venture capitalists

§  The sleep apnea medical devices, the sleep apnea devices market is likely to grow at a CAGR of ~5% over the next 12 years

The sleep apnea companies landscape features over 100 companies offering a range of devices, including continuous positive airway pressure machines (CPAP machine), bilevel positive airway pressure machines (BiPAP), auto-adjusting pressure machines (APAP), oral devices, implantable devices, contactless devices, adaptive servo ventilation, expiratory positive airway pressure devices, home sleep apnea test devices and polysomnography devices. 

Overall, the market landscape of sleep apnea medical devices is well-fragmented, featuring the presence of small, mid-sized and large companies, which claim to have the required expertise to develop novel solutions for diagnosis and treatment of all type of sleep apnea. It is interesting to note that around 50% of these sleep apnea device manufacturers are located in North America, followed by Europe. Within North America, US and Canada emerged as the hubs for sleep apnea device manufacturers.

Sleep Apnea Devices Market Regional Outlook

Based on the key geographical regions, the sleep apnea devices market can be segmented into four major regions, North America, Europe, Asia Pacific and Rest of the World. Led by the US, North America is anticipated to capture the majority share of the sleep apnea devices market in 2023, and this trend is likely to remain unchanged in the forecasted timeframe. 

Asia Pacific is likely to exhibit lucrative opportunities owing to its growing geriatric population, rising prevalence of sleep apnea and anticipated approval of several drug therapies in this region. 

Sleep Apnea Market Key Players

Examples of key companies engaged in the sleep apnea market (which have also been profiled in this market report; the complete list of companies is available in the full report) include: 

Acurable, Advanced Brain Monitoring, Airway Management, Apnimed, Bayer, Belun Technology, BRAEBON Medical, Cadwell, Desitin Pharma, Drive DeVilbiss Healthcare, Eli Lilly and Company, Hunan VentMed Medical Technology, Incannex Healthcare, Löwenstein Medical, Nihon Kohden, Nox Medical, Oventus Medical, Philips, React Health, ResMed, SciSparc, Sibelmed, Somnetics International Inc., SomnoMed, Sunrise, Topson Medical, Vyaire Medical, Wellue, Whole You, ZOLL Itamar.

It is interesting to note that in June 2023, Fisher Paykel signed a product / technology integration agreement with VGM & Associate, a US based hospital. Under the terms of the agreement, Fisher Paykel announced its plans to use myAirvo line of product to support VGM members. Such types of agreements are expected to drive the demand for sleep apnea medical devices across the globe, resulting in substantial market growth during the forecast period.

Sleep Apnea Market Segments

Based on the research, Roots Analysis has segmented the Sleep Apnea Market into Product Type, Type of Diagnostic Device, Type of Therapeutic Device, Type of PAP Device, Route of Administration and Key Geographical Regions.

by Type of Product

§  Sleep Apnea Medical Devices

§  Drug Therapies

by Type of Diagnostic Device

§  Polysomnography Devices

§  Home Sleep Apnea Testing Devices

by Type of Therapeutic Device

§  Positive Airway Pressure Devices

§  Oral Devices

§  Implanted Devices

by Type of Positive Airway Pressure Device

§  CPAP Devices

§  BiPAP Devices

§  APAP Devices

§  Other Devices

by Key Geographical Regions

§  North America

§  Europe

§  Asia Pacific

§  Rest of the World

About Roots Analysis

Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.

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