Sleep Apnea Treatment Devices Market - What will be the Short-term Impact of Coronavirus?

[Nita Sonwane]

The global sleep apnea treatment devices market size is set to touch USD 8.97 billion by 2026, exhibiting a CAGR of 8.2% during the forecast period. Steadily climbing demand for sleep apnea devices, stemming from a consistent spread in the prevalence of sleep apnea, will be a major growth driver for this market, shares Fortune Business Insights™ in its new report, titled “Sleep Apnea Treatment Devices Market Size, Share & Industry Analysis, By Device Type (Positive Airway Pressure (PAP) Devices, Oral Appliances, Masks & Accessories, and Others), By End User (Sleep Laboratories & Clinics, and Homecare & Other Settings), and Regional Forecast, 2019-2026.

For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/sleep-apnea-treatment-devic...

A study published in the medical journal Lancet in 2019 found that nearly 1 billion people worldwide suffer from Obstructive Sleep Apnea (OSA). Regionally, too, the statistics conform to the global trends. For instance, the European Respiratory Society estimates that 13% to 32% of the geriatric population in Europe suffer from sleep apnea. As a result, the demand for sleep apnea treatment is escalating and driving the sleep apnea treatment devices market trends. Furthermore, the incidence of OSA is spiking owing to the rising prevalence of obesity, the most common cause for interrupted sleep, which according to the World Health Organization, presently affects close to 650 million adults worldwide.

Discomfort Caused by CPAP Masks to Stall Market Growth

Continuous Positive Airway Pressure (CPAP) is a highly recommended therapy for sleep apnea patients. It involves a machine that uses mild air pressure to keep airways open, helping an apneic person get sound sleep. However, despite its popularity, CPAP entails certain disadvantages that are likely to negatively affect the sleep apnea treatment devices market growth. For example, CPAP machines are infamous for causing discomfort as patients find it difficult to sleep in specific positions so as to not to displace the mask on their face. Moreover, the mask can also lead to a runny nose or cause nasal congestion. The biggest hindrance for this market, however, is the high cost associated with CPAP devices, especially in emerging economies. The challenge is humungous as insurance coverage in these countries is poor and limited and reimbursement policies are unfavorable for patients, hampering the adoption of this treatment method.

Competitive Landscape

Innovative Product Offerings to Characterize Market Competition

Key players in this market are focusing on consolidating their position, according to the sleep apnea treatment devices market report. These companies aim to entrench themselves in this market through frequent launch of innovative products, which also helps them diversify their portfolio of offerings to consumers.