The global sleep apnea devices market size was valued at USD 8.15 billion in 2018 and is expected to expand at a CAGR of 6.8% over the forecast period. Rising geriatric population due to increasing life expectancy is expected to lead to prevalence of Obstructive Sleep Apnea (OSA). High prevalence of OSA in geriatric population owing to comorbidities associated with apnea, is anticipated to fuel the growth. In addition, increased awareness, disease diagnosis, patient adherence, and healthcare expenditure are anticipated to drive the revenue growth. Reduction in the size of the upper airway lumen due to increasing age can cause OSA. According to the United Nations (UN) estimates, in 2017, the global geriatric population, was nearly 962.0 million and it is expected to grow more than double by 2050.
Apnea occurs when the body and brain receive insufficient oxygen and breathing process is interrupted during sleep. OSA is the most common form of apnea caused by airway blockage. In order to avoid this, it is necessary for patients to undergo diagnostic tests and use therapeutic treatment devices. OSA is widely prevalent in the elderly population, patients suffering from cardiovascular diseases, and other non-communicable diseases such as diabetes, hypertension, and remains underdiagnosed owing to lack of awareness, poor healthcare infrastructure in developing countries, and non-specific presentation of the disease.
Rising awareness, geriatric population, prevalence of disease, and need for efficient diagnosis and treatment of OSA, are some of the factors promoting revenue growth of the sleep apnea devices market. Introduction of technological advancements catering to patient safety and comfort is expected to improve treatment adherence especially in developed markets such as North America. North America is one of the most matured markets, owing to high product adoption coupled with government initiatives aimed at curbing healthcare expenditure associated with OSA. Moreover, the transition from fee-for-service care to value-based care and availability of reimbursement are some of the factors driving the regional growth.
The demand for OSA diagnosis and treatment has witnessed a rapid increase during the past few years, triggered by the exponential growth in the prevalence of sleep apnea, rising awareness, availability of reimbursement, and increasing patient adherence. According to ResMed’s data analysis, apnea impacts nearly 936 million people globally. The National Healthy Sleep Awareness Project states that obstructive sleep apnea affects more than 25 million people in U.S. and is a chronic disease that adversely affects public health.
Prevalence of sleep apnea increases with the rising risk of other diseases such as hypertension, cardiac diseases, diabetes, and mental disorders such as depression and anxiety, which in turn increases the overall healthcare cost burden on the economy. Growing awareness regarding the prolonged effects of sleep apnea in turn is expected to boost revenue growth over the forecast period.
Therapeutic devices led the overall sleep apnea devices market with a revenue share of 65.1% in 2018. Increasing disease awareness among patients, availability of technologically advanced products, increasing initiatives by local government, and supporting treatment adherence by patients are expected to provide a lucrative opportunity for manufacturers operating in the therapeutic device segment.
PAP devices are considered as the gold standards for treatment of apnea. These products enable the flow of pressured air through the airways of the respiratory tract through a face mask which is attached to a tube and a machine, thus ensuring normal breathing during sleep. Miniaturization of these PAP devices along with the availability of customization options with additional features is expected to propel market growth during the forecast period.
Diagnostic device segment is expected to witness lucrative CAGR of 6.8% between 2019 and 2025. Diagnostic device segments include various products such as actigraphs, polysomnography, respiratory polygraphs, and pulse oximeters. Polysomnography device segment account for the highest revenue share of 12.2% in 2018. The polysomnography tests are most widely used in the diagnosis of OSA, by monitoring variables such as Apnea-hypopnea Index (AHI), thus helping increase the diagnosis of sleep apnea.
Respiratory polygraphs segment is anticipated to expand at the fastest CAGR of 7.9% over the forecast period. Respiratory polygraphs are widely used for home diagnosis and are considered as an alternative to polysomnography performed in labs. Home diagnosis is affordable for patients and therefore is preferred by the number of patients, which in turn is expected to drive the revenue growth of this segment.
North America led the global market with a revenue share of 50.01% in 2018. Large patient pool and presence of established manufacturers are anticipated to further strengthen the regional market. The number of sleep tests being conducted in U.S. is rapidly rising as more number of people are concerned about the health risks arising out of sleep apnea. Technological advancements in diagnostic and therapeutic devices and easy availability of products like the Elastic Mandibular Advancements (EMA), is another factor promoting the regional revenue growth.
Asia Pacific is projected to be the fastest growing market over the forecast period with a CAGR of 15.2% over the forecast period. Asia Pacific has the largest number of undiagnosed sleep apnea patients in the world. This presents a lucrative opportunity for the manufacturers. The number of clinics in this region is also growing, which in turn is anticipated to promote robust growth. India is anticipated to witness a CAGR of 15.3% between 2019 and 2025, owing to its expanding population pool and rising healthcare expenditure. Manufacturers are focusing on building strategies towards enhancing their customer pool through the introduction of affordable devices for price-sensitive customers in Asia Pacific.
Europe accounted for the second largest revenue share of about 36.7% in 2018. France accounted for 12.6% of the total European market in 2014. Whereas, Germany is expected to witness a CAGR of 9.5% over the forecast period. Europe is one of the lucrative markets for the manufactures owing to its established healthcare industry and high consumer awareness. Favorable reimbursement policies in several European countries is another factor boosting the regional revenue growth.
Some players operating in the market are BMC Medical Co. Ltd; GE Healthcare; Fisher & Paykel Healthcare Limited; Curative Medical Inc.; Cadwell Laboratories; ResMed; Invacare Corporation; Braebon Medical Corporation; ImThera Medical Inc.; Phillips Respironics; Curative Medical Inc.; Nihon Kohden; and Compumedics Limited. The market is oligopolistic in nature with companies like ResMed, Fisher & Paykel, Philips Respironics, and CareFusion capturing about 90.0% of total market share.
Stringent regulations for manufacturing PAP devices have created high entry barriers for new entrants. There exists fierce competition among market players, who are focused on increasing their geographic presence and strengthening their customer pool through new product development.
Base year for estimation
Actual estimates/Historical data
2014 - 2017
2019 - 2025
Revenue in USD Million, CAGR from 2019 to 2025
North America, Europe, Asia Pacific, Latin America, and MEA
Revenue forecast, company share, competitive landscape, growth factors, and trends
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This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global sleep apnea devices market report on the basis of product and region:
Product Outlook (Revenue, USD Million, 2014 - 2025)
Regional Outlook (Revenue, USD Million, 2014 - 2025)
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