Sleep Apnea Devices Market Worth $6.1 Billion By 2028 | CAGR: 6.2% | Global and Regional Forecast | Grand View Research, Inc.


 

The global sleep apnea devices market size is expected to reach USD 6.1 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.2% from 2021 to 2028. Obesity is a major factor in sleep apnea. The global prevalence of obesity is estimated to reach 18.0% in men and 21.0% in women by 2025. This, in turn, is estimated to drive the market as more than half of the overweight or obese people suffer from Obstructive Sleep Apnea (OSA).

Moreover, the rising geriatric population due to increasing life expectancy is expected to impel the prevalence of OSA. Sleep disorders increase with age, which is one of the key factors for high market share. However, low awareness and consequent low penetration of sleep apnea equipment in developing and underdeveloped economies present lucrative growth opportunities to market participants.

The outbreak of COVID-19 pandemic negatively impacted the growth of the medical equipment required to diagnose the disease. There was the temporary closure of physician practices, home medical equipment suppliers, and sleep clinics due to quarantine or government restrictions, to control the spread of COVID-19. This, in turn, has resulted in the decreased growth rate of diagnostic equipment during the COVID-19 related lockdowns.

However, sleep and respiratory care equipment witnessed a rapid increase in demand during the pandemic. The usage of PAP devices as an alternative to ventilators significantly increased the demand for PAP equipment. Moreover, a rise in adherence to PAP therapy for sleep apnea after the initial stages of the pandemic, as risk factors associated with COVID-19 are commonly present in the patients, positively impacted market growth.

The development of new technologies for the treatment and diagnosis of the disease is driving market growth. Moreover, new alternatives to CPAP equipment such as nasal and oral equipment are developed for patients with low CPAP tolerance. For instance, In February 2021, GoPAPFree, a homecare oral devices manufacturer for OSA, launched O2 Vent Optima to serve as an effective and more convenient CPAP alternative. This device increases sleep apnea therapy response by 40.0%. In February 2020, Fisher and Paykel launched F&P Evora with CapFit headgear, a compact nasal mask for treating sleep apnea. The company launched this product in the markets of New Zealand, Europe, Australia, and Canada.

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