What is the Major Trend Currently Observed in Global Sleep Apnea Devices Market?

The prevalence of obstructive sleep apnea (OSA) has risen considerably over the past few years. OSA is a serious sleep disorder and causes the breathing to stop and start during sleep. This disease is a type of sleep apnea and occurs when muscles of the throat relax intermittently and block the airway while sleeping. Some of the major symptoms of OSA include, loud snoring, excessive daytime sleepiness, abrupt awakenings accompanied by choking or gasping, morning headache, and observed episodes of stopped breathing during sleep. Attributed to this growing prevalence of OSA, the need for sleep apnea devices is growing rapidly.

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As per a report by P&S Intelligence, the global sleep apnea devices market is predicted to attain a value of $6.8 billion by 2023, rising from $4.4 billion in 2017, and is expected to advance at a 7.7% CAGR during the forecast period (2018–2023). Sleep apnea devices are of two types therapeutic and diagnostic, between which, the demand for therapeutic sleep apnea devices was higher in the past, and these devices are further predicted to be more in demand in the coming years as well.

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All these devices are utilized at-home and at sleep laboratories. The larger demand for sleep apnea devices in the past was created by sleep laboratories in the past, which is owing to the rising per capita healthcare spending and increasing investments by private and public organizations. Other than this, the demand for sleep apnea devices for utilization at-home is also projected to rise considerably in the years to come. This can be ascribed to the rising need for easy-to-use and compact devices in homecare settings across the globe.