Sleep Apnea Devices Market Overview With Detailed Analysis, Competitive Landscape, Forecast To 2026

(MENAFN- Market Press Release) September 22, 2022 9:14 am - Obstructive sleep apnea (OSA) is the most common form of sleep-disordered breathing (SDB). It is a partial or complete collapse of the upper airway caused by relaxation of the muscles that control the soft palate and tongue.

The prevalence of OSA is steadily increasing, and it is estimated to affect approximately ~3% to 20% of the general population.

The Global Sleep Apnea Devices Market was valued at US$ 5.5 billion in 2021 and is set to witness a healthy growth rate of 7% in the next 5 years. A large number of undiagnosed sleep apnea patients, a shift towards home-sleep testing, favorable reimbursement for sleep apnea devices in key markets such as the U.S., increasing awareness of the negative impact of untreated sleep apnea, availability of funding/grants to revolutionize the diagnosis & treatment for OSA, and foray of a number of companies into the sleep apnea market are some of the key factors driving the global sleep apnea devices market. However, the lack of patient compliance to treatment, especially CPAP therapy, is one of the major challenges that is expected to hamper the market's growth.

Technological Advancements Drives the Sleep Apnea Devices Market
The sleep apnea devices market is a technology-driven market and is characterized by constant product improvements and innovations.

For instance,

In October, 2021, AirAvant Medical introduced a new device called Bongo Rx for the treatment of obstructive sleep apnea (OSA). The device is touted as an alternative to continuous positive airway pressure (CPAP) and is clinically proven to treat mild to moderate OSA symptoms

In August 2021, Resmed, launched AirSense 11, the next generation of the company's PAP (positive airway pressure) device. AirSense 11 includes new features such as Personal Therapy Assistant and Care Check-In designed to provide tailored guidance to PAP users, helping ease them into therapy and comfortable nightly use
Move Towards Home Sleep Apnea Test (HSAT) Fuels the Sleep Apnea Devices Market Demand

The traditional way of sleep apnea testing needed an overnight stay at a sleep lab. Though, the trend is quick-changing now and home sleep tests are now increasing in popularity. A home sleep apnea test (HSAT) is an overnight test that is conducted outside the hospital or sleep lab. These tests are conducted using a special device that measures sleep patterns during the night. HSATs cost less, generally require only a few monitors & straps, and can take place in the comfort of a person's home.

A home sleep apnea test (HSAT) is financially more friendly. It costs ~ $200 to $600, which is fairly less than $800 to $3,000 for an overnight visit to a sleep lab. Also, insurers are increasingly requiring HSAT as a first step before paying for an in-lab sleep apnea test.”- Product Manager, Leading Sleep Apnea Diagnostic Device Manufacturer, United States

Explore Premium Report on Sleep Apnea Devices Market @ Reimbursement of Sleep Apnea Devices in Key Markets Drives Adoption
The analysis and treatment of obstructive sleep apnea in the US are covered when Medicare coverage criteria are met. Medicare Part B (Medical Insurance) covers Type I, II, III, and IV sleep tests and devices if you have clinical signs and symptoms of sleep apnea.

In the US, the diagnosis of OSA is covered. Examples of covered diagnostic services include - Oximetry Testing, Polysomnography and Sleep Studies, and Home Sleep Studies

The treatment of OSA is also covered in the US. Examples of covered treatments include - Continuous Positive Airway Pressure (CPAP), Respiratory Assist Devices including Bilevel Positive Airway Pressure (BiPAP), Mandibular Devices/Oral Appliances

Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold
The sleep apnea devices market is noticeable by the presence of both established and new players. Companies operating in the sleep apnea devices market adopt both organic and inorganic growth strategies such as new product launches, and partnerships to garner market share.

For instance,

In December 2021, ZOLL® Medical Corporation, completed the acquisition of Itamar™ Medical Ltd., a medical device and digital health company that provides at-home testing for sleep apnea

In February 2021, GoPAPfree, a homecare provider of oral appliance therapy for obstructive sleep apnea launched a new oral appliance - O2Vent Optima.

The sleep apnea devices market is a lucrative market that is set to witness decent growth in the coming years due to high-tech developments in diagnostic and therapeutic sleep apnea devices, growing awareness campaigns & initiatives run by governments and manufacturers across the world, and increasing importance & usage of oral appliances.

Competitive Landscape Analysis of Sleep Apnea Devices Market
The sleep apnea devices market is marked by the presence of players such as ResMed, Philips Respironics, Fisher & Paykel Healthcare, SomnoMed, Itamar Medical, Inspire Medical Systems, Compumedics, Oventus Medical, Natus Medical, Drive DeVilbiss Healthcare, Whole You, BMC Medical, among others.

For More Detailed Insights, Contact Us @ Medi-Tech Insights
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.