A sleep problem called obstructive sleep apnea (OSA) causes erratic breathing, which lowers the amount of oxygen getting to the brain. According to projections from the Chest Physician, 170 million Americans had OSA diagnoses in 2019. In 50 European countries, there were reportedly 175 million OSA cases in 2018, according to the European Respiratory Journal. The rising incidence of OSA is attributed to changing lifestyles, an aging population, and an increase in chronic diseases. Due to poor OSA presentation and a general lack of knowledge, the rising prevalence of apnea in the elderly population continues to go undiagnosed. The worldwide elderly population's longer average life span is anticipated to increase the prevalence of sleep problems.
The global sleep apnea devices market size was $8.55 billion in 2021 and is projected to reach $15.85 billion by 2030 with a CAGR of 7.1% in the forecast period of 2022-2030.
The prevalence of obesity and hypertension is rising, along with the occurrences of sleep apnea, the geriatric population is growing, and the patient population in developing nations is becoming more conscious of the condition. One of the main factors boosting the demand for sleep apnea devices is aging. The risk of acquiring this disorder is highest among the elderly. The percentage of the world's population that is 65 years of age or older is expected to increase from 10% in 2022 to 16% in 2050, according to the World Population Prospects 2022. According to projections, the number of people 65 and older will more than double by 2050 from its current level and will be roughly equal to that of people under the age of 5 and about the same for the number of children under age 12.
Obstructive sleep apnea (OSA), which affects 18 million Americans, is thought to affect 1 in 15 persons in the country, according to research from Sleep Science Resource, LLC. People's sedentary lifestyles have increased the prevalence of obesity, disturbed sleep patterns, high levels of stress, and cardiovascular disorders.
For instance, multiple cross-sectional studies have suggested that severe sleep apnea is prevalent in 40% of the obese population and that 70% of OSA patients are obese, according to the article published by American Heart Association, Inc. Also, between 13.0% and 32.0% of the elderly population in Europe had sleep apnea, according to data released by the European Respiratory Society.
Major businesses like Koninklijke Philips N.V. and ResMed are present in the fiercely competitive market. Some of the main contributing causes to these competitors' dominance in the global market are their strong and broad product portfolios, emphasis on R&D to introduce sleep apnea products, and significant regional presence. For instance, ResMed introduced the new PAP device for OSA in October 2021. In 2022, ResMed acquired Healthdyne Technologies for $300. This acquisition will give access to sleep apnea devices to ResMed, including Healthdyne’s SleepEasy continuous positive airway pressure (CPAP) system. The adoption of these devices is thus anticipated to expand during the forecast period as a result of increased developments and innovations by industry participants.
Oventus, Cadwell Industries, Inc., Fisher & Paykel Healthcare Limited, Natus Medical Incorporated, SomnoMed, DeVilbiss Healthcare LLC, and Braebon Medical Company are additional significant market participants.
With a market share of 48.4% in 2022, the North American segment dominated. Around 15 to 30% of males and 10 to 15% of females in North America are predicted to have the condition, according to a study that was published in UpToDate in January 2022. Additionally, a 10% rise in weight was associated with a six-fold increase in the risk of OSA, according to the same study. The study by Clocks and Sleep in February 2022 also found that there were more males (16.3%) than females in the category of moderate to severe OSA. Another intriguing finding was that 12.9% of participants with moderate to severe OSA were between the ages of 18 and 39. There were 49.4% of those were obese. In this survey, obesity was categorized as affecting 38% of men and 58% of women.
Due to the expanding elderly population and rising prevalence of lifestyle illnesses such as cardiovascular disease, cancer, hypertension, diabetes, and chronic respiratory diseases, the Asia Pacific sector is predicted to grow at the quickest pace of 7.7% throughout the projected period. Almost 227 million people in the Asia Pacific have been diagnosed with type 2 diabetes, according to the OECD iLibrary entry on Asia/Pacific 2020.
The market for sleep apnea devices is divided into categories for therapeutic and diagnostic products, including positive airway pressure (PAP) devices, oxygen devices, oral appliances, adaptive servo-ventilation (ASV) devices, masks and accessories, and polysomnography devices (PSG), pulse oximeters, and actigraphy devices. In 2020, the market was dominated by the therapeutic device category. In 2020, the therapeutic segment will be dominated by the rising number of diagnosed patients receiving treatment in sleep clinics, particularly in developed nations, which includes CPAP therapy. Over 95% of Americans with diagnoses receive therapy, and CPAP is the most popular form of treatment among these patients, according to KOL interviews.
The market is divided into sleep laboratories and clinics and homecare and other settings based on end-user. Players in the market are concentrating on producing novel, portable gadgets for patients receiving treatment for the ailment to use at home. The need for these devices in homecare and other settings is rising as a result of this and the growing desire for treating OSA at home, particularly in nations like the U.S., U.K., Germany, and Japan, among others.
The Sleep Apnea Devices Market is expected to experience significant growth in the coming years due to the increasing prevalence of sleep apnea and related disorders, technological advancements, and growing awareness among patients and healthcare providers. The market is expected to grow significantly in the coming years due to advancements in technology, an aging population, and increased awareness of sleep apnea Continuous Positive Airway Pressure (CPAP) devices are currently the most widely used sleep apnea devices and are expected to continue to dominate the market. However, there is also growing demand for oral appliances and other alternative therapies. North America is currently the largest market for sleep apnea devices, followed by Europe and the Asia Pacific region. However, the market is expected to grow the fastest in the Asia Pacific region due to the increasing prevalence of sleep apnea and related disorders in the region.