Americas Sleep Apnea Market Key Companies and SWOT Analysis by 2030

The Americas sleep apnea market size is expected to grow from US$ 2,454.20 million in 2022 to US$ 4,103.24 million by 2030; the market is estimated to grow at a CAGR of 6.6% from 2022 to 2030.

Analyst’s ViewPoint

The Americas sleep apnea market analysis is based on driving factors such as the increasing prevalence of sleep apnea. Further, technological developments would lead to significant future trends in the market during 2022–2030. According to the segmentation considered in the report, in terms of type, the therapeutics segment accounts for a larger share than the diagnostics segment in the Americas sleep apnea market. Among end users, the hospitals segment dominates the market accounting for a maximum share.

Sleep apnea is a potentially serious sleep disorder wherein breathing stops and starts repeatedly. The condition prevents the patient's body from getting enough oxygen. There are two types of sleep apnea: obstructive and central. Common treatments for sleep apnea include breathing devices such as continuous positive air pressure (CPAP) machines and lifestyle changes.

Market Insights

Increasing Prevalence of Sleep Apnea Boosts Market Growth Accounting Considerable Market Share

According to the American Medical Association 2022 report, ~30 million people in the US suffer from sleep apnea. Obstructive sleep apnea (OSA) and central sleep apnea are two types of the disorder. OSA is a serious and life-threatening sleep illness. According to the National Health Sleep Awareness Project survey data published in the American Academy of Sleep Medicine 2023 report, OSA affects 25 million adults in the US. The survey also states that OSA increases the risk of high blood pressure, heart disease, type 2 diabetes, stroke, and depression.

According to the Association of Health Care Journalists report, the treatment of OSA is expensive as it requires overnight stays in sleep labs and hospitals, owing to which it is left untreated among older adults. The investigation was conducted by researchers using a ~5% sample of Medicare administrative claims data from 2006 to 2013. During the investigation, the researchers found that the patient undiagnosed with OSA had more doctor's appointments, emergency room visits, and hospital stays before the beginning of the treatment for the disorder. These untreated patients spend an additional US$ 20,000 annually compared to those diagnosed with OSA. In addition, an American Academy of Sleep Medicine report revealed that the treatment of undiagnosed OSA among the US population costs US$ 149.6 billion annually. Thus, the rising prevalence of sleep apnea is driving the market growth in Americas.

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Americas Sleep Apnea Market: Strategic Insights

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Technological Developments to Bring New Trends in Sleep Apnea Market in Future

Technological advancements and awareness regarding sleep apnea are boosting the adoption of various medical devices, such as PSG and home sleep testing. Many industry players are focusing on innovative product strategies to meet the growing demand for sleep apnea diagnostic devices. For instance, in August 2021, ResMed successfully launched "AirSense 11," the first available in the US. It is the company's next-generation positive airway pressure device designed to assist people suffering from sleep apnea. In August 2020, Nihon Koden Corporation announced the launch of Polysmith 12 polysomnography software. The Polysmith software includes more than 40 market-driven features that allow sleep specialists to improve workflow, analysis, and outcomes of the sleep apnea medical device. The new product also offers a cost-effective design with a broad range of features, such as the enhancement of scheduling, prioritization, and e-mail notification capabilities providing better workflow, improved status tracking to categorize patients based on priority and status, and the ability to track patient progress to improve clinical outcomes.

Report Segmentation and Scope

Type Insights

Based on type, the Americas sleep apnea market is segmented into diagnostic devices and therapeutic devices. The therapeutic devices segment held a larger market share in 2022, and the diagnostic segment is expected to record a significant CAGR in the Americas sleep apnea market during the forecast period. The market for diagnostic devices is further segmented as polysomnography devices (PSG), home sleep testing devices, pulse oximeters, actigraphy devices, and others. The Americas sleep apnea market for therapeutic devices is subsegmented as PAP, sleep masks, oral appliances, and others. PAP is further categorized as CPAP, APAP, and Bi-PAP.  Sleep apnea may lead to enormous health issues, as most of the population remains undiagnosed. According to a report published by Infosys, ~18 million Americans suffer from moderate to severe OSA, with 85% left undiagnosed. Several manufacturers are developing innovative sleep apnea diagnostic devices. The "NovaSom" technology for the testing of OSA at home works with a proprietary operating system named "MediTrack," which allows a role-based collaboration in compliance with the Health Insurance Portability and Accountability Act (HIPAA) to achieve integrated patient care. This innovative diagnostic solution enables cost reduction and improves testing speed, accuracy, and efficiency.

End User Insights

Based on end user, the Americas sleep apnea market is segregated into hospitals, homecare settings, and others. The hospitals segment accounted for the largest market share in 2022, and the homecare segment is expected to register the highest CAGR during the forecast period. Hospitals are more well-equipped and specialized than sleep centers; hence, more sophisticated sleep studies can be organized in hospital facilities. Some of these hospital facilities are associated with sleep labs touted as accredited centers. Similarly, sleep laboratories either operate individually or in collaboration with hospitals. For treating sleep apnea cases, hospitals in the Americas mainly follow the standards recommended by regulatory authorities such as the American Academy of Sleep Centers. The widespread presence of hospitals, and convenient availability of both diagnostic and treatment solutions at one location results in high in-patient admissions in these facilities. Several procedures in hospitals are also eligible for insurance reimbursement.

Americas Sleep Apnea Market, by Type – 2022 and 2030

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Country Analysis

The Americas sleep apnea market is segmented into the US, Canada, Mexico, Brazil, Argentina, Chile, Peru, Colombia, and Rest of the Americas. The market growth in the region is driven by the rising geriatric population and growing awareness about the ill effects of snoring.

Sleep apnea is one of the major health issues and a common sleep disorder in the US. The American Sleep Apnea Association estimates that 38,000 people in the country die each year from heart disease with sleep apnea as a complication. In addition to the increasing number of deaths associated with the disease and the rising awareness about the related risk factors, the growing importance of sleep testing in adults and pediatric populations favors the sleep apnea market growth. Excessive daytime sleepiness among people with narcolepsy or OSA at work, at home, or in daily activities hampers their daily lives. In March 2019, Jazz Pharmaceuticals plc received US Food and Drug Administration (FDA) approval for its product named "Sunosi" (Solriamfetol), prescribed to improve wakefulness among adult patients suffering from excessive daytime sleepiness associated with narcolepsy or OSA. The increasing availability of such medicines bolsters the growth of sleep apnea in the US.

The Canadian market exhibits potential growth opportunities with an increase in the importance of diagnosis and treatment of chronic as well as acute diseases. The rapidly developing medical device sector and the proliferation of the healthcare sector are other factors that influence the sleep apnea market progress in the country. The prevalence of sleep apnea is increasing in Canada. As per the Breathe, the Canadian Lung Association, 26% of Canadian adults aged 18 or more are at a high risk of sleep apnea. It is one of the underdiagnosed respiratory diseases in the country. Continued positive airway pressure (CPAP) therapy is the most common intervention prescribed for patients with sleep apnea. The Assistive Devices Program by the Ministry of Health and Long-Term Care, covers the cost of CPAP machines and equipment in Canada, while organizations such as Canadian Home Care Setting Inc. provide financial assistance for the purchase of CPAP. In January 2018, the Winnipeg Regional Health Authority announced new copayment models for CPAP therapy equipment, which came into effect in April 2018. With this model, the new and replacement CPAP machines would cost patients US$ 500. The copayment model is likely to lead to the saving of nearly US$ 4.9 million per year for the Canadian health authority.

Americas Sleep Apnea Report Scope