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