Sleep Apnea Devices Market Trends

Growth Drivers

• Growing Demand for Home Sleep Apnea Tests – According to data from the American Sleep Association, nearly 50 million to 70 million U.S. adults have a sleep disorders, of which, 25 million are suffering from obstructive sleep apnea.
• Rising Prevalence of Obesity to Increase Diagnosis Rate for Sleep Apnea – According to the article published by American Heart Association, Inc., several cross-sectional studies have estimated that significant sleep apnea is present in 40% of the obese population, and 70% of the OSA patients are obese.
• Advanced Innovation in Technology for Sleep Apnea Devices - As per the data by the World Bank, 2.33% of the global GDP was spent on research and development activities in 2019, which increased to 2.63% in 2020.
• Increasing Access to Health Care and Health Expenditures- As per the data by the World Bank, 9.83% of the global GDP was spent on health expenditure in 2019.

Challenges

• High Cost of Devices and Long Waiting Periods
• Lack of Patient Compliance to Device Therapies

The global sleep apnea devices market is segmented and analyzed for demand and supply by type into therapeutic devices, diagnostic devices, and sleep apnea masks. Out of these, the sleep apnea masks are anticipated to hold the largest market size by the end of 2033. The segment growth is primarily attributed to the rising prevalence of comorbidities associated with obstructive sleep apnea (OSA), and rising adoption rates of CPAP machines in disease management. As per research, it is estimated that 936 million adults aged 30-69 years (men and women) have mild to moderate obstructive sleep apnea and over 425 million adults aged 30-69 years have moderate to severe obstructive sleep apnea globally.