Sleep Apnea Devices Market size was valued at USD 5.4 billion in 2023 to USD 19.65 billion by 2031, growing at a CAGR of 7.32% during the forecast period (2024-2031). Sleep apnea devices market is witnessing speedy growth owing to the rising prevalence of obesity, improvements in technology in the associated devices that help treat the condition, and rising awareness for different sleep conditions. The leading devices comprise oral appliances, CPAP machines, and positional therapy devices. The market is experiencing notable growth backed by the ever-increasing aging population, growing healthcare expenditure, and enhanced diagnostics methods.
Currently, the incorporation of IoT in devices is trending in the market. This integration allows efficient data tracking and remote monitoring for patients. There is also a growing interest in producing comparatively quieter, smaller, and more comfortable oral appliances and CPAP devices that improve patient experience. In recent years, the emergence of well-tailored and modifiable CPAP solutions is gaining traction that caters to personal preferences and requirements. Also, the rising acceptance of HSAT (home sleep apnea tests) is streamlining the diagnosis, increasing accessibility, and resulting in early detection and treatment. The market progress is also backed by remote follow-ups, consultations that emphasize improving patient care in underserved areas.
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Modernized Device Launches and Emphasis on Patient-Centric Approach Are Lead Attractions
Manufacturers engaged in the making of ground-breaking devices are emphasizing the launch of innovative devices that are well-equipped with intelligent technology. This will allow monitoring and feedback via smartphone applications in real time for better patient adherence. The introduction of portable and light-weight CPAP devices and auto-modifiable solutions is making progress since they allow usability while traveling and are most suitable for patients who need optimal convenience. Producers are also engaged in delivering user comfort and easy usage in device design. This comprises less noisy machines and modifiable masks for improved patient experience for boosting compliance. Companies are also incorporating sleep apnea tracking competencies in wearable devices, enabling patients to monitor their patterns of sleep with convenience.
In December 2023, The Canadian Medical Technology Company, Open Airway Dental Solutions Ltd (OADS) acquired Oventus Medical Ltd, an Australian Oral Appliance producer on 31st January for Australian Dollars 5,00,000. This acquisition comprised all property of Oventus Manufacturing and Medical.
In December 2023, Compumedics Limited announced that the U.S. FDA approved and accepted its Somfit solution to be sold in the United States of America. This will be another milestone for the Somfit technology solution in the expanding sleep markets.
In February 2022, Panthera Dental declares strategic acquisition to expand its product line of therapeutic (OSA) obstructive sleep apnea, a ground-breaking oral device that is specially designed for pediatric obstructive sleep apnea population.
This report covers the following segments:
Type
Therapeutic Devices
Diagnostic Devices
End User
Sleep Laboratories
Clinics
Hospitals
Age Group
Below 40 Years
40-60 Years
Above 60 Years
Gender
Male Patients
Female Patients
The report covers the following players:
ResMed
Koninklijke Philips N.V.
Fisher & Paykel Healthcare Limited
Inspire Medical Systems, Inc.
SomnoMed
Oventus Medical
Compumedics Limited
Lowenstein Medical Technology GmbH + Co. KG
Drive DeVilbiss Healthcare
BMC Medical Co., Ltd.
Braebon Medical Corporation
Whole You, Inc.
Panthera Dental
Myerson LLC
ProSomnus Sleep Technologies
Nidek Medical India
TOMED GmbH
LivaNova
Invacare Corporation
MPowrx Health & Wellness
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Increased Focus on Patient-Centric Approach to Help Boost Market Growth in Future
The sleep apnea devices market is witnessing major transformation, impacted by the improvements in technology, ever-growing patient needs, and increased awareness for healthy sleep and overall wellbeing. Latest trends like expanded home testing, growth of portable and intelligent devices, and incorporation of telehealth are enhancing patient experience and accessibility. The market will face a greater number of collaborations and alliances with emphasis on patient-centric approach for aiding the market growth.
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