Sleep apnea is a sleeping sickness that can be undoubtedly serious, wherein an individual’s breathing exhibits an irregular pattern. People with untreated sleep apnea encounter interrupted breathing in their sleep due to a shortage of oxygen dispense to the brain and the rest of the body parts. Today, sleep apnea is more common among elderly patients and people who are suffering from diabetes, hypertension, cardiovascular disorders. Further, to combat the condition named sleep apnea, the market has introduced equipment for managing sleeping apnea that facilitates breathing in patients suffering from sleep disorders. As per Renub Research Analysis, the Sleep Apnea Devices Market was valued at US$ 5.2 Billion in 2020.
The increasing prevalence of obesity and the rising geriatric population leads to a higher incidence of sleep apnea globally. The rise in incidence manifests a large patient pool requiring diagnosis and treatment for sleep apnea, driving the market’s growth. Ample provisions of undiagnosed patients, and government initiatives to promote diagnosis, are also expected to boost the demand for diagnostic devices and subsequently drive the market’s growth during the forecast period. Thereon, it is likely that the Sleep Apnea Machines Market is expected to expand at a CAGR of 7.63% from 2020 – 2027.
Restraints of Sleep Apnea Devices Market
• Certain determinants like the high cost associated with devices restrict the market’s growth.
• Similarly, in emerging countries like India, due to minimal medical coverage provided by public or private insurance companies, obstructs the development of the market in the region.
• The lack of awareness concerning obstructive sleep apnea (OSA) in emerging countries is a vital factor expected to restrain the market’s growth during the forecast period.
In terms of device type, the global Sleep Apnea market is segmented into therapeutic devices and diagnostic devices. In the therapeutic device segment, Positive Airway Pressure (PAP) devices are the most common devices used to treat sleep apnea. For healthcare providers globally, amongst the PAP devices, Continuous Positive Airway Pressure (CPAP) devices are the favoured choice of therapy for OSA. The high potency of CPAP and other PAP devices in treating sleep apnea has been conducive to increase the adoption of therapeutic devices globally.
COVID-19 Pandemic Impacts on this Industry
The outbreak of the COVID-19 pandemic has rigorously affected the management of sleep apnea patients worldwide. Several medical organizations like the European Respiratory Society and the American Academy of Sleep Medicine have recommended using telehealth and has provided guidelines to all sleep centres to postpone and reschedule the in-laboratory administration of PAP therapy and polysomnography, except in emergency cases.
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