The Sleep Apnea Devices market size in the Asia Pacific is forecasted to grow USD 2.52 billion by 2027 from USD 1.73 billion in 2022. This market is estimated to grow at a CAGR of 7.9% during the forecast period. It captures 20% of the global market.
Increasing incidences of chronic illness associated with lifestyle changes are merely driving the growth rate of the sleep apnea devices market in APAC. The rising geriatric population who are more likely to be diagnosed with sleeping disorders is propelling the market demand. According to the study, approx 33% of Indians are suffering from insomnia. Around 300 million people in China are diagnosed with various sleeping disorders where the number is rising every year. Besides, ongoing research and development activities in developing innovative products are likely to boost the market demand. Adoption of the latest technologies and the launch of innovative procedures are likely to fuel the growth rate of the sleep apnea devices market. Growing prominence for the oral appliances is gearing up the demand of the market to the extent.
Additionally, factors that drive the APAC region's sleep apnea devices market are increasing chronic diseases and many patients with sleeping disorders. Long working hours, high obesity, hypertension, stress growing number of depression cases lead to the growth in sleep apnea disorders bolster the APAC region's market. Technological advancements in upgrading the devices are fueling the growth. FDA approvals for the launch of new products with a more conservative nature by the key players may also foster the APAC region's sleep apnea devices market.
However, the high cost of the treatment procedures is slowly restraining the growth rate of the market in the Asia Pacific. People in rural areas are less aware of the devices available, which is also degrading the demand of the sleep apnea devices market in the Asia Pacific. Stringent rules by government organizations to approve the new products for safety purposes are key challenging factors for the market players.
This research report on the APAC Sleep Apnea Devices Market has been segmented and sub-segmented into the following categories.
By Diagnostic Devices:
By Therapeutic Devices:
Regionally, Asia pacific is the second-fastest-growing market in the global sleep apnea devices market, with China and India spearheading its growth spurt.
The APAC sleep apnea devices market is expected to grow with the quickest CAGR over the analysis period. As a result of the ordinary increase of elderly people population, particularly those suffering from sleep disorders, steps were taken by the government and other private organizations to create awareness among people regarding sleeping disorders.
The Chinese sleep apnea devices market is expected to grow with a 7.0% CAGR during the analysis period. This country is anticipated to have considerable and essential growth in the APAC region due to drowsiness, insufficient sleep, and insomnia, which are very common and frequent in Chinese growing people.
The sleep apnea devices market in India is expected to have considerable growth in terms of revenue, which is to grow with a CAGR of 24.5% during the period. In India, the development of sleep apnea is driven by a growing number of sleep-deprived residents, different multi-specialty hospitals, an ever-increasing occurrence rate of such diseases, and high awareness among people. Moreover, growing awareness in people relevant to severe conditions like hypertension, cardiovascular, and stroke problems has made India's people undergo sleep apnea diagnosis tests, which have made the region's growth rise high for past years.
Promising companies leading the Asia Pacific Sleep Apnea Devices Market are ResMed, Inc. (U.S.), Philips Healthcare (Netherlands), and Fisher & Paykel Healthcare Ltd. (New Zealand). Other players in the market include SomnoMed Ltd. (Australia), Compumedics Limited (Australia), Weinmann Medical Devices GmbH (Germany), Whole You, Inc. (U.S.).
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