Sleep Apnea Devices Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Product (Diagnostic Device (Pulse Oximeters, Polysomnography Devices, Actigraphy System, Others), Therapeutic Device (Oral Appliance, Oxygen Device, Positive Airway Pressure Device, Adaptive Servo-Ventilation Device, Others)), And By Geography - Forecasts From 2021 To 2026

The sleep apnea devices market is projected to grow at a CAGR of 6.48% during the forecast period to reach US$9.033 billion by 2026 from US$5.822 billion in 2019. 

Sleep apnea is a sleep disorder linked with breathing issues at a time when the patient is sleeping. People suffering from this disorder have complained of tiredness despite a full night's sleep. Due to sleep apnea, a person’s breathing repeatedly starts and stops, leading to snoring or other sleep problems. Continuous sleep disturbance has the potential to severely affect the patients mentally and physically. This disorder is highly common in men and worsens with age and obesity. Sleep apnea devices are special respiratory devices that enable the patient to sleep properly.

The prime reason driving the market growth is the rising complex work life. The growing advent of chronic disease has increased the severity of sleep apnea, increasing the risk of death. Furthermore, the rising age population also provides a significant market. Youth today tend to stay up for late hours, using their smartphones and/ or laptops, which has also increased the severity of this disease.

The growing advent of chronic diseases has increased the severity of sleep apnea disorder which will increase the demand for sleep apnea devices.

Rising cases and complexities of chronic disease have significantly contributed to the rise in cases of sleep apnea. Chronic diseases such as cardiovascular diseases and lung diseases are the leading cause of death, globally. Further, other diseases, like gastric problems, and spinal and joint problems, increase the pain and suffering of the patients, raising the advent of sleep apnea. In the North American region, 6 out of every 10 adults suffer from chronic diseases, while 4 out of 10 chronic disease patients suffer from more than 1 disease. In Australia, chronic diseases cause 8 out of every 10 deaths while 50% of hospitalization occurs owing to chronic disease complexities. Majorly aged people suffer from chronic diseases. However, with a rise in complex lifestyle, a surge in adults suffering from chronic diseases have been observed. A patient suffering from some chronic diseases is more prone to sleep apnea disorder than one without disease and a healthy lifestyle. Hence, growing cases of chronic diseases are projected to increase cases of this disorder and the market size of sleep apnea devices.

Hectic work life and an increasing load coupled with long and inconsistent working hours have increased the advent of sleep disorders, surging the demand for sleep apnea devices.

Growing work complexities are another growth driver of the sleep apnea market. The rise in population and booming workforce has made the employment market highly competitive, leading to a hectic and competitive work life. Long and inconsistent working hours have become an emerging market trend that has significantly interfered with the worker's sleep cycle and health, increasing the chances of sleep apnea disorder among the workforce.

A complex lifestyle accompanied by a hectic work life has also led to the adoption of improper diet and food intake. A rise in consumption of frozen food and/ or ready-to-eat food has decreased the nutrition level in a diet and has increased the chances of chronic disease and sleep disorders. furthermore, the rising consumption of fast food, particularly with the emergence of home delivery services and food aggregates, without necessary exercise or physical activity has increased obesity among people, increasing the cases of sleep apnea notably. A report by the World Health Organization (WHO) found that worldwide obesity levels tripled from 1975 to 2019 and more people died because of obesity complications. The report further extends that in 2020, 39 million children under age 5 were obese, an increase from 38.2 million in 2019. Further, rising social trends and social media influence have indirectly encouraged youth to stay up for late hours, particularly teenagers, increasing the risk of sleep apnea. The cases of sleep apnea if forecasted to increase at a quadruple rate during the studied period, driving the market growth of sleep apnea devices. 

High costs may hinder the market growth.

The high cost of sleep apnea devices has the potential to act as a market barrier during the forecasted period, particularly in developing nations. In India, a general sleep apnea device cost from US$611.54 to US$1,617.46. However, rising disposable income and technological advancement in the industry may overcome this hindrance.

COVID-19 Impact on Sleep Apnea Devices Market

The coronavirus pandemic increased the demand for sleep apnea devices with a rise in sleep disorders. To contain the spread of the virus, the government implemented lockdowns resulting in the shutdown of offices. To continue operations, businesses adopted online mode and work-from-home culture. However, due to the unfavourable furnishing of the home, which in most cases is not suitable for prolonged sitting hours, workers are observed to develop posture problems leading to sleep disorders. hence a rise in demand for sleep apnea is forecasted to deal with growing problems.

Key Market Segments

• By Product
  • Diagnostic Device
    • Pulse Oximeters
    • Polysomnography Devices (PSG)
    • Actigraphy System
    • Others
  • Therapeutic Device
    • Oral Appliance
    • Oxygen Device
    • Positive Airway Pressure (PAP) Device
    • Adaptive Servo-Ventilation (ASV) Device
    • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Others
  • The Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Thailand
    • Taiwan
    • Indonesia
    • Others