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The Sleep Apnea and Respiratory Monitoring Devices Market Size is valued at USD 5,756.61 Million in 2023 and is predicted to reach USD 9,724.0 Million by the year 2031 at a 7.0% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The prevalence of other respiratory conditions, such as COPD and asthma, also drives the demand for respiratory monitoring devices. The need for continuous monitoring and management of these conditions supports market growth.
- Growing healthcare infrastructure and rising awareness in developing regions are opening new markets for sleep apnea and respiratory monitoring devices.
- North America dominated the market and accounted for a global revenue share in 2023.
- The process of gaining approval for medical devices can be protracted and rigorous, necessitating substantial effort and financial commitment from producers. This can result in a delay in the launch of new items and an increase in expenses.
Sleep apnea is a sleep disorder in which a person's breathing is interrupted during sleep. Two types of sleep apnea are obstructive sleep apnea and central sleep apnea. If sleep apnea is left untreated, it may lead to diabetes, High blood pressure, Headaches, depression, Heart failure, and stroke. Respiratory monitoring plays an essential role in treating respiratory diseases, such as acute respiratory failure, chronic obstructive pulmonary disease (COPD), and asthma. Increasing demand for devices instead of surgeries will boost the sleep apnea and respiratory monitoring devices market growth over the forecast years.
High prevalence of sleep apnea and respiratory diseases, increasing geriatric population, changing lifestyle patterns, improper sleep patterns, and adoption of advanced technologies are driving the growth of this market. Moreover, rising awareness about sleep apnea and respiratory diseases is helping to enhance this business. Whereas, the high cost of systems, poor medical reimbursement policies, and shortage of skilled professionals are limiting the growth of this market.
Competitive Landscape
Some of The Key Players in The Sleep Apnea and Respiratory Monitoring Devices Market:
- DeVilbiss Healthcare LLC.
- Koninklijke Philips N.V.
- Medtronic plc
- Mindray
- Natus Medical Incorporated
- Nihon Kohden Corporation
- ResMed
- Smiths Medical
- SOMNOmedics America Inc.
- Itamar Medical Ltd.
- Cleveland Medical Devices, Inc.
- Compumedics Ltd.
- Fisher & Paykel Healthcare Limited
- Vyaire Medical, Inc.
- Becton, Dickinson and Company
- BMC Medical Co., Ltd.
- Other Prominent Players
Market Segmentation
The sleep apnea and respiratory monitoring devices market can be segmented on the basis of products, End-Users, and Regions. On the basis of products, the market can be sub-divided into Polysomnography Device (PSG), Sleep Apnea Screening Device, Actigraphy Monitoring Device, Respiratory Polygraph, Peak Flow Meters, Gas Analyzers, Oximeter/Finger-Tip Oximeter, and Other Products. Polysomnography Device (PSG) segment has dominated the market and is expected to continue its trend over the forecast period, as the polysomnography device plays an important role in treating sleep apnea. Also, during treatment, it records data for multiple parameters such as patient’s brain waves, the oxygen level in the blood, heart rate and breathing, and eye and leg movements. On the basis of End-Users, the market is sub-segmented into Hospitals & Sleep Laboratories, Home Care Settings, and Other End-Users. The hospitals & Sleep Laboratories segment is expected to dominate this market, due to the increasing preference of patients to visit hospitals & sleep laboratories and the easy availability of necessary devices. In terms of geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Out of these regions, North America is expected to dominate the market over the forecast period.
Recent Developments:
- In February 2024, ResMed announced that the San Diego-based company had introduced its AirCurve 11 series bilevel positive airway pressure devices in the United States. The AirCurve 11 series is the newest line of bilevel devices from ResMed that employs two degrees of support. They employ both expiratory and inspiratory positive airway pressure (EPAP and IPAP). AirCurve 11 was created to assist clinicians in treating sleep apnea while patients begin and continue therapy when combined with digital technologies.
The Sleep Apnea and Respiratory Monitoring Devices Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 5,756.61 Million |
|
Revenue Forecast In 2031 |
USD 9,724.0 Million |
|
Growth Rate CAGR |
CAGR of 7.0 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million, Volume (Unit), and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Products, By End-Users |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
DeVilbiss Healthcare LLC., Koninklijke Philips N.V., Medtronic plc, Mindray, Natus Medical Incorporated, Nihon, Kohden Corporation, ResMed, Smiths Medical, SOMNOmedics America Inc., Itamar Medical Ltd., Cleveland Medical Devices, Inc., Compumedics Ltd., Fisher & Paykel Healthcare Limited, Vyaire Medical, Inc., Becton, Dickinson and Company, BMC Medical Co., Ltd., and Others |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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