The Sleep Apnea Diagnostic Devices Market is projected to reach USD 6.49 billion by 2023 from an estimated USD 4.44 billion in 2018, at a CAGR of 7.8%. Growing awareness regarding the ill effects of sleep apnea, growing usage of oral appliances for sleep apnea treatment, and the large pool of undiagnosed and untreated sleep apnea patients are the major factors driving the growth of the market. Technological advancements in sleep apnea devices are also supporting the growth of the market.
On the basis of type, the sleep apnea diagnostic devices market is bifurcated into therapeutic and diagnostic devices. The therapeutic devices segment is projected to register the highest growth rate in the forecast period. Key factors driving the growth of the market include increasing prevalence of sleep apnea globally and high growth of therapeutic oral appliances for sleep apnea.
The therapeutic devices segment has been further segmented into positive airway pressure (PAP) devices, facial interfaces (masks), accessories, oral appliances, adaptive servo-ventilators (ASV), and other therapeutic devices (oxygen concentrators and airway clearance systems). The oral appliances segment is projected to register the highest growth rate in the forecast period. The demand for oral appliances is expected to witness significant growth due to factors such as the rise in patient pool, increase in the number of patients seeking alternatives to PAP treatments, and increased acceptance by physicians, dentists, patients, and insurance companies.
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The diagnostic devices segment has been further segmented into polysomnography devices, home sleep testing devices, oximeters, actigraphy systems, and sleep screening devices. The home sleep testing devices segment is projected to register the highest growth rate in the forecast period. The increasing prevalence of sleep disorders and the growing demand for monitoring vital signs at home are some of the key factors that are expected to drive the growth of the home sleep testing devices market in the coming years
On the basis of end users, the sleep apnea diagnostic devices market has been segmented into sleep laboratories & hospitals and home care/individuals. The home care/individuals segment is projected to register the highest growth rate in the forecast period. The high growth of this segment can be attributed to the increasing home use of sleep apnea diagnostic devices primarily due to the greater preference of patients to undergo sleep examinations at home rather than at sleep labs and hospitals.
On the bases of region, the sleep apnea diagnostic devices market is segmented North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period, owing to the increasing prevalence of sleep disorders, the large undiagnosed patient pool in countries like India, and public and private initiatives to raise awareness.
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