Sleep Apnea Devices Global Market estimated to be worth $8,173.8 million by 2026
Sleep apnea is a serious sleep disorder in which breathing stops and starts often during sleep, it results in low oxygen level in the blood makes patient’s to awaken throughout the night. Undiagnosed or untreated sleep apnea can lead to serious complications such as heart attack, glaucoma, diabetes, cancer, and cognitive and behavioral disorders. Obesity, smoking and drinking alcohol are the common factors leading to sleep apnea disorder. Sleep apnea is mainly classified as Obstructive Sleep Apnea (OSA), that occurs when throat muscles relax, Central Sleep Apnea (CSA) that occurs when the brain does not send signals to the muscles that control breathing and lastly complex sleep apnea syndrome (ComSAS) a mixture of both obstructive sleep apnea and central sleep apnea, it is also known as treatment-emergent central sleep apnea.
Sleep apnea can be diagnosed using in-lab sleep test devices such as attended polysomnography (PSG), respiratory polygraph and pulse oximeter, home sleep test devices such as unattended polysomnography, and Actigraphy. This disorder can be treated using a broad range of products such as PAP devices, Oral appliances, implantable devices and non-invasive devices such as Expiratory Positive Airway Pressure (EPAP). However, there is a significant unmet needs such as need for development of management strategies of sleep apnea to prevent development of co-morbidities and need to develop diagnostic and treatment which are more compatible, patient friendly and are not cumbersome to use.
According to IQ4I analysis, the Sleep apnea devices market is expected to grow at a high single digit CAGR from 2019 to 2026 to reach $8,173.8 million by 2026. The factors such as, increase in the rate of the population suffering from sleep apnea, increase in lifestyle changes that increase the risk of sleep apnea, increasing funding and investment in the development of sleep apnea devices are the factors driving the market growth, favorable reimbursement policies, technological advancements such as artificial intelligence, magnap, smart PAP devices and 3D imaging are the opportunities for the growth. Whereas, the availability of alternative therapies and non–compliances of patients with PAP devices, are restraining the market growth. The threat to the Sleep apnea devices market includes a lack of awareness about sleep apnea disorder and stringent regulatory requirements for new product approvals.
The sleep apnea devices global market is segmented based on the product, application, end-users and geography. Based on product the market is segmented into diagnostic devices and treatment devices. According to IQ4I research, the treatment devices segment accounted for the largest revenue in 2019 and the market is expected to grow at double digit CAGR from 2019 to 2026. The diagnostic devices segment is expected to grow at a mid-single digit CAGR from 2019 to 2026 due to increasing awareness in sleep apnea patient population and favorable reimbursements for diagnosis. Diagnostic devices are further segmented into in-lab sleep test and home sleep test, in-lab sleep test accounted for the largest revenue in 2019 and the market is expected to grow at a mid-single CAGR from 2019 to 2026, due to increased patient population and increased demand for gold standard polysomnography devices. Among the in-lab sleep tests products attended polysomnography commanded the largest revenue in 2019. Similarly, in case of home sleep tests products, unattended polysomnography commanded the largest revenue in 2019 and is expected to grow at mid-single digit CAGR from 2019 to 2026. Treatment devices are segmented into PAP devices, oral appliances, phrenic nerve stimulator, hypoglossal nerve stimulator and others, among these, PAP devices accounted for the largest revenue in 2019 and the market is expected to grow at a high single digit CAGR from 2019 to 2026, hypoglossal nerve stimulator is expected to grow at high teen CAGR from 2019 to 2026 due to its effectiveness in treating sleep apnea. Among PAP devices sub-segment, accessories commanded the largest revenue in 2019, APAP devices are expected to grow at a double digit CAGR from 2019 to 2026. Among the oral appliances, mandibular repositioning devices commanded the largest share in 2019.
The Sleep apnea devices market based on the application is segmented into Obstructive Sleep Apnea (OSA), Central Sleep Apnea (CSA) and Complex Sleep Apnea Syndrome (ComSAS). Among these, OSA accounted for the largest revenue in 2019 and the market is expected to grow at a high single digit CAGR from 2019 to 2026. Increased prevalence of obstructive sleep apnea, an increase in the use of PAP devices and favorable reimbursement are the factors driving the market.
The Sleep apnea devices market based on end-user is segmented into hospitals, sleep centers, home healthcare/Home Sleep Apnea Testing (HSAT) and others. Among these, sleep centers accounted for the largest revenue in 2019 and the market is expected to grow at high single digit CAGR from 2019 to 2026 due to increase in testing using attended polysomnography. The home Sleep apnea testing (HSAT) market is expected to be the fastest-growing segment with high single digit CAGR from 2019 to 2026. Increased demand for home care products and increased use of wearable devices are the factors driving the market.
Geographically, North America accounted for the largest revenue in 2019 and the market is expected to grow at high single digit CAGR from 2019 to 2026, due to increased healthcare expenditure, increase in funding and R&D investments for the development of sleep apnea diagnostic and therapeutic devices. Asia-Pacific region is expected to be the fastest growing segment with double digit CAGR from 2019 to 2026, due to increasing awareness of disease and adoption of various treatment options.
Approvals, new product launches, agreements, collaboration and acquisitions are driving the Sleep apnea devices global market growth. For example, In September 2019, Philips launched Nightbalance, a prescription sleep position therapy device designed for patients with positional obstructive sleep apnea (OSA). The clinically validated solution uses gentle vibrations to encourage users to alter their sleeping positions in order to prevent apneas. The technology features, wireless connectivity and an app that monitors product use and provides cloud access to the data. In June 2019, Itamar Medical Ltd. and SoClean Inc. collaborated to make Itamar Medical’s WatchPAT ONE home sleep apnea test and Digital Health Services available to consumers. The collaboration is designed to overcome the barriers to sleep apnea testing and therapy solutions by enabling consumers to purchase remote sleep consultations and home-based sleep tests using the WatchPAT ONE in the comfort of their own homes.
Considering the attractiveness of the sleep apnea devices global market, several venture capitalists are investing in nurturing new technologies or increasing market access for advanced technologies. According to IQ4I Analysis, the reported funding received by companies during the period 2018-2020 was worth ~$91.6 million. For instance, In February 2020, Nyxoah S.A raised $27.5 million (€25 million) in a private financing round to further advance in developing long-term clinical evidence on the Genio system that is used to treat Obstructive Sleep Apnea (OSA), prepare for the IDE pivotal trial in the United States and accelerate the ongoing market access and commercialization activities in Europe, Australia and New Zealand. The financing was joined by ResMed Inc. a world-leading digital health company in the fields of sleep apnea, COPD, and other chronic diseases. Sleep apnea devices clinical trials data indicates that 40.0% clinical trials are in phase 3 stage and 60.0% clinical trials are in phase-2 for developing CPAP and Mandibular repositioning devices.
Major players in Sleep apnea devices global market are ResMed Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), Fisher and Paykel Healthcare Corporation Ltd., (New Zealand), Apex Medical Corporation (Taiwan), Nihon Kohden Corporation (Japan) Natus Medical Inc.. (U.S.), Inspire Medical Inc. (U.S.), Drive Medical (Drive DeVilbiss Healthcare) (U.S.), and SomnoMed (U.S.).
Some of the emerging players in the Sleep apnea devices global market are Itamar Medical Ltd., (Israel), 3B Medical Inc. (U.S.), Respicardia Inc., (U.S.), Compumedics Limited (Australia) and Cadwell Industries Inc. (U.S.).