CHICAGO, July 23, 2024 /PRNewswire/ -- The
global Sleep Apnea Devices Market is expected to grow from
USD 6.5 billion in 2024 to
USD 9.3 billion by 2029, at a CAGR of
7.3%. The sleep apnea devices market is experiencing significant
growth opportunities driven by the adoption of telemedicine,
mHealth, and artificial intelligence for treatment and diagnosis,
along with the expansion of leading players into emerging markets
like India, Australia, UAE, and Saudi Arabia. Increased investments and
funding are fostering innovations in CPAP devices and diagnostics,
improving patient compliance and accessibility to advanced
solutions. However, insufficient awareness of sleep apnea and poor
adherence to CPAP devices pose challenges to market expansion. The
rising popularity of cost-effective home sleep apnea tests and
next-generation sleep-sensing technologies offers further growth
potential. In 2023, the PAP devices segment led the therapeutic
devices market, while home care settings dominated the end-user
segment. The Asia Pacific region
observed the highest growth rate due to a large patient pool with
comorbidities and an increasing number of sleep clinics. Key market
players include ResMed, Koninklijke Philips N.V., and Fisher &
Paykel Healthcare Limited, noted for their extensive product
portfolios and wide geographic presence.
![MarketsandMarkets Logo MarketsandMarkets Logo](https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg)
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=719
Browse in-depth TOC on "Sleep Apnea Devices
Market"
483 - Table
50 - Figures
366 -
Pages
RESMED (US): Market Leader in Sleep Apnea Devices
ResMed (US) led the sleep apnea devices market in 2023, renowned
for its innovative and advanced therapeutic and diagnostic devices.
The company's focus on healthcare technology expertise enables it
to produce accurate and efficient sleep apnea devices, securing a
significant market share. By expanding its product offerings,
including PAP devices and facial interfaces, ResMed has maintained
its market leadership.
KONINKLIJKE PHILIPS N.V. (Netherlands): Major
Player in Sleep Apnea Devices
In 2023, Koninklijke Philips N.V. (Netherlands) held the second-largest share of
the sleep apnea devices market. Known for its innovative and
user-friendly health monitoring devices, Philips is expanding its
global presence through strategic partnerships and acquisitions.
These efforts increase accessibility and awareness of sleep apnea
solutions in emerging and developing markets.
FISHER & PAYKEL HEALTHCARE LIMITED (New Zealand): Innovator in Patient
Comfort
Fisher & Paykel Healthcare Limited (New Zealand) secured the third-largest share
of the sleep apnea devices market in 2023. The company's Hospitals
and Homecare segments drive sales of sleep apnea devices. Focused
on product development, Fisher & Paykel emphasizes advanced
humidification and mask technologies to enhance patient comfort and
therapeutic effectiveness, thereby expanding its market
presence.
Request Sample Pages:
https://www.marketsandmarkets.com/requestsampleNew.asp?id=719
Product Segmentation: Therapeutic Devices Lead the Sleep
Apnea Devices Market
The sleep apnea devices market is segmented by product into
therapeutic devices and diagnostic devices. In 2023, the
therapeutic devices segment accounted for the largest share, driven
by the launch of advanced and non-invasive therapeutic sleep apnea
devices. Therapeutic devices include positive airway pressure (PAP)
devices, facial interfaces (masks), accessories, oral appliances,
and other therapeutic devices, all contributing to the segment's
growth.
End User Segmentation: Home Care Settings Dominate
The sleep apnea devices market is categorized by end users into
sleep laboratories, clinics, hospitals, and home care
settings/individuals. In 2023, home care settings/individuals held
the largest market share. Devices used in home care settings, such
as PAP devices, nasal masks, oral appliances, ambulatory PSG,
oxygen concentrators, and pulse oximeters, are preferred for their
ease of use and patient preference for home sleep testing over
testing in sleep laboratories, clinics, and hospitals.
Age Group Segmentation: 40-60 Years Lead
The sleep apnea devices market is divided by age group into
below 40 years, 40–60 years, and above 60 years. In 2023, the 40-60
years segment accounted for the largest share. High awareness and
diagnosis rates, along with the rise in comorbidities such as
hypertension and diabetes in this age group, contribute to its
dominance. This age group is more adaptable to sleep apnea
therapeutic technology for health management compared to other age
groups.
Gender Segmentation: Male Patients Lead
The sleep apnea devices market is segmented by gender into male
and female patients. In 2023, male patients dominated the market,
driven by the higher prevalence of hypertension, cardiovascular
disease, stroke, and daytime sleepiness among men compared to
women. This higher prevalence results in increased diagnosis and
treatment rates in the male population.
Regional Insights: Asia Pacific Offers Significant Growth
Opportunities
The global sleep apnea devices market is segmented into
North America, Europe, Asia
Pacific, Latin America, the
Middle East & Africa, and GCC countries. The Asia Pacific region is expected to offer
significant growth opportunities for sleep apnea device
manufacturers over the next 5-10 years. This growth is driven by
increasing cases of comorbidities such as diabetes and
cardiovascular diseases, as well as growing awareness of sleep
apnea, which leads to higher diagnosis rates.
For more information, inquire now! Inquire Now
Related Reports:
Medical Equipment Maintenance Market
Respiratory Care Devices Market
Respiratory Diagnostics Market
Ultrasound Market
Diagnostic Imaging Market
Get access to the latest updates on Sleep Apea Devices
Companies and Sleep Apnea Devices Market Share
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America's
best management consulting firms by Forbes, as per their recent
report.
MarketsandMarkets™ is a blue ocean alternative in growth
consulting and program management, leveraging a man-machine
offering to drive supernormal growth for progressive organizations
in the B2B space. We have the widest lens on emerging technologies,
making us proficient in co-creating supernormal growth for
clients.
Earlier this year, we made a formal transformation into one of
America's best management consulting firms as per a survey
conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are
substituting existing revenue streams in this decade alone. We work
with clients on growth programs, helping them monetize this
$25 trillion opportunity through our
service lines - TAM Expansion, Go-to-Market (GTM) Strategy to
Execution, Market Share Gain, Account Enablement, and Thought
Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several
Forbes Global 2000 B2B companies - helping them stay relevant in a
disruptive ecosystem. Our insights and strategies are molded by our
industry experts, cutting-edge AI-powered Market Intelligence
Cloud, and years of research. The KnowledgeStore™ (our Market
Intelligence Cloud) integrates our research, facilitates an
analysis of interconnections through a set of applications, helping
clients look at the entire ecosystem and understand the revenue
shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us
on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan
Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Logo:
https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/sleep-apnea-devices-market-worth-9-3-billion-by-2029-driven-by-rising-technological-advancements--marketsandmarkets-302203697.html