Sleep Apnea Devices Market Size, Share & Trends Report

Sleep Apnea Devices Market Size, Share & Trends Analysis Report By Product Type (Diagnostic Devices, Therapeutic Devices, Sleep Apnea Masks), By End Use, By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: 978-1-68038-265-5
  • Number of Report Pages: 150
  • Format: PDF, Horizon Databook
  • Historical Range: 2018 - 2023
  • Forecast Period: 2023 - 2030 
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the sleep apnea devices market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for sleep apnea devices market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of sleep apnea devices market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Sleep Apnea Devices Market Categorization:

The sleep apnea devices market was categorized into three segments, namely product type (Diagnostic Devices, Therapeutic Devices, Sleep Apnea Masks), end-use (Hospitals and Sleep Labs, Home Care), and region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).

Segment Market Methodology:

The sleep apnea devices market was segmented into product type, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The sleep apnea devices market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK; Germany; Italy; France; Spain; Denmark; Sweden; Norway; Japan; China; India; South Korea; Australia; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Sleep apnea devices market companies & financials:

The sleep apnea devices market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • BMC Medical Co., Ltd. (BMC) - BMC Medical Co., Ltd. (BMC) is a China-based private device manufacturer of home respiratory care devices. The company’s main product portfolio consists of Sleep Disorder Breathing (SDB) diagnostic devices, flow generators, and patient interface devices. The company categorizes its business offerings into three segments: home care, medical care, and respiratory consumables. It has received U.S. FDA clearance, internationally recognized ISO quality certification, CE Mark from the EU, CFDA clearance from China, and many other regulatory approvals from other countries, which allow it to sell & trade products globally. As of 2020, it is operating in more than 180 countries.

  • CareFusion Corp. (Part of Becton, Dickinson & Company) - CareFusion Corp. is a medical device manufacturer, as well as a distributor of diagnostic home sleep apnea recorders, sleep sensors, & therapeutic intraoral equipment. The company also specializes in automation solutions and provides management solutions. Its key products include Alaris infusion pumps, Pyxis automated dispensing solutions, Avea, and Airlife & LTV ventilation & respiratory products. The company’s business is divided into products and solutions: Ultima sensors, PureFlow, disposable airflow, MediByte, dental sleep solutions, cardiac sleep solutions, and sleep labs. It has a broad portfolio of products with a strong international customer pool across 6 continents. CareFusion came into existence in 2009 as a medical technology business spinoff from Cardinal Health. The company was acquired by Becton, Dickinson & Company in March 2015, with a combined portfolio offering integrated medication management solutions and smart devices for hospital pharmacies to point-of-care facilities, across 150 countries globally.

  • GE Healthcare - GE Healthcare is a subsidiary of General Electric Company (GE). The company provides medical technologies and services to deliver advanced patient care across the world. Its main area of expertise includes technologies and services, such as medical diagnostics, drug discovery, medical imaging & information technologies, patient monitoring systems, performance solution services, and biopharmaceutical technologies. GE Healthcare serves healthcare professionals and patients in around 100 countries globally. GE Healthcare’s IT solutions offer integrated care solutions, which enable better clinical and financial outcomes.

  • Koninklijke Philips N.V. - Koninklijke Philips N.V. operates in three business areas: healthcare, consumer lifestyle, and lighting. The company is a manufacturer of diagnostic and therapeutic devices. Its subsidiary—Philips Respironics—currently offers products related to respiratory disorders. The company has a large portfolio of solutions catering to Continuous Positive Airway Pressure (CPAP) devices, sleep therapy, durable medical equipment, sleep apnea, respiratory care, COPD, portable oxygen, and home health. Its healthcare business is divided into four segments: clinical informatics & home healthcare solutions, imaging systems, customer services, and patient care. The company owns well-recognized oxygen concentrator brands, such as DreamStation CPAP & BiPAP.

  • ResMed - ResMed is a healthcare company that develops, manufactures, and distributes medical devices & cloud-based software for diagnosis & treatment of sleep & respiratory disorders, such as Sleep Disordered Breathing (SDB), neuromuscular diseases, & COPD. Products manufactured by the company for SDB include devices used for various therapeutic, diagnostic, and management purposes, which can help in treating obstructive sleep & respiratory disorders. The company operates in more than 120 countries through its subsidiaries and independent distributors.

  • Compumedics Ltd. - Compumedics Limited is involved in the expansion, production, and development of diagnostic technology for enhancement of sleep, and brain function, & multiple applications associated with monitoring ultrasonic blood flow. The company’s subsidiaries—Neuroscan and DWL Elektronishe Systeme GmbH—along with Compumedics, have a wide international reach, including the Americas, Australia, APAC, Middle East, & Europe. The company provides solutions by converting large amounts of data into valuable information, which can lead to precise diagnoses for serious health conditions. It caters to customers in the field of sleep diagnostics, neurology diagnostics, magnetoencephalography, and brain research. The company previously focused on its growth in the home monitoring market and international sleep clinics.

  • Curative Medical - Curative Medical is a privately held company involved in designing and manufacturing medical devices for the diagnosis & treatment of cardiopulmonary diseases & sleep disorders. The company manufactures devices such as bilevel, PAP, & CPAP respirators, sleep diagnostic solutions, cardiovascular catheters, and breathing & ventilation masks. It currently operates in the U.S., Germany, and China. In October 2015, Curative Medical was acquired by ResMed China to expand business operations in the Chinese market. The two companies serve as independent identities in China.

  • Fisher & Paykel Healthcare Ltd. - Fisher & Paykel Healthcare Limited is a medical devices company involved in designing, developing, and manufacturing medical devices & systems for respiratory care, OSA, & neonatal care. The company provides devices such as masks and CPAP devices for hospitals and home care. It also offers solutions for adult and infant respiratory problems such as masks, nasal flow therapy, & ventilators. It has offices in 37 countries and offers products in over 120 countries across the globe.

  • Imthera Medical, Inc. - Imthera Medical, Inc. is a medical device manufacturing company that designs and manufactures devices for the treatment of OSA. The sleep apnea implant by Imthera has been approved as an investigational device exemption by the U.S. F.D.A. This was expected to help in evaluating the safety and effectiveness of the therapy in individuals who find it difficult to try PAP therapy or any other related sleep apnea treatments.

  • Invacare Corporation - Invacare Corporation is a leading manufacturer and distributor of medical equipment used in nonacute care settings. The company manufactures, designs, and distributes homecare & long-term care medical devices, such as powered wheelchairs, scooters, walkers, pressure care, as well as other respiratory products including PAP devices & oxygen concentrators. Furthermore, the company offers mobility products and various medical devices that cater to conditions such as COPD, brain injury, pressure ulcers, & spinal cord injury. It has a presence in 80 countries across the globe.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Sleep Apnea Devices Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Sleep Apnea Devices Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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