Feeding Systems Market Forecasts to 2028 – Global Analysis By Product (Conveyor Feeding Systems and Rail-Guided Feeding Systems), Livestock (Swine, Ruminant, and Other Livestock’s), Offering (Software, Hardware and Other Offerings), Technology (Automated

Feeding Systems Market Forecasts to 2028 – Global Analysis By Product (Conveyor Feeding Systems and Rail-Guided Feeding Systems), Livestock (Swine, Ruminant, and Other Livestock’s), Offering (Software, Hardware and Other Offerings), Technology (Automated Manual and Other Technologies) Function and Geography

According to Stratistics MRC, the Global Sleep Apnea Devices Market is accounted for $10.17 billion in 2022 and is expected to reach $17.16 billion by 2028 growing at a CAGR of 9.1% during the forecast period. A sleeping disorder known as sleep apnea is characterised by an individual's irregular rhythm of breathing while they are asleep. Untreated sleep apnea causes the brain and the rest of the body to receive insufficient oxygen, which causes people to have irregular breathing while they sleep. Elderly patients and those with illnesses including diabetes, hypertension, cardiovascular ailments, and others are more likely to have this condition. Obstructive sleep apnea (OSA) is the most common type of sleep apnea worldwide, and its prevention requires early diagnosis and the use of treatment devices.

According to a Pub Med study, the prevalence of obstructive sleep apnea in middle-aged Asian men ranges from 4.1% to 7.5% and 2.1% to 3.2% in females. According to sleepassociation.org, in June 2020, it is known that obstructive sleep apnea (OSA) is a prevalent condition, which affects up to 20% of the world population. According to the United Nations Department of Economic and Social Affairs' 2019 report, one in six people worldwide will be over 65 years old (16%) by 2050, up from one in eleven in 2019 (9%).

Market Dynamics:

Driver:

Large pool of undiagnosed sleep apnea patients

The vast number of sleep apnea patients who are undiagnosed presents a huge market opportunity. With the continuous awareness campaigns and initiatives, it is anticipated that the undiagnosed patient base will receive a sleep apnea diagnosis and treatment. The market is expanding because to the rising popularity of oral appliances and at-home sleep care for the treatment of sleep apnea. A growing number of businesses have entered the sleep apnea market in recent years.

Restraint:

High cost of CPAP machines

Patients with sleep apnea are burdened by the high costs of CPAP devices, complicated referral processes, protracted waiting times, and product recalls; Medicare in the US only partially covers these costs, whilst in other countries there is no coverage for CPAP. Patients have a significant challenge due to the inconvenience and high cost of diagnosis and therapy, as well as the need for multiple medical appointments.

Opportunity:

Increasing public and clinical awareness

Globally, there is a relatively high frequency of sleep apnea; yet, the majority of patients are misdiagnosed, which places a significant economic cost on society in the form of workplace and traffic accidents, lost productivity, and concomitant disorders. Government organisations, trade groups, and major manufacturers of sleep apnea products are working to promote public knowledge of the condition and boost diagnostic rates in their respective nations in order to address these issues.

Threat:

Adherence to treatment

For patients with sleep apnea, maintaining treatment compliance has always been difficult, especially when using a CPAP. This lack of compliance will be a significant barrier to the trends in the use of sleep apnea devices in the near future. In the long term, though, it won't make much of a difference because manufacturers are putting their efforts into making their goods more technologically advanced and minimising the negative effects of their devotion to sleep apnea therapy.

Covid-19 Impact

The unexpected onset of the COVID-19 pandemic has significantly enhanced the expansion of the global market. The enormous influx of COVID-19 patients and the negative effects the virus had on people who had sleep apnea, however, eventually increased the demand for and the supply of sleep apnea devices, such as PAP machines, masks, and sleep ventilators. Lockdowns have led to a greater preference for home sleep apnea tests (HSATs) over PSG instruments in several different countries. The epidemic increased demand for telemedicine and teleconsultations, which aided in the market's expansion. However, it may be anticipated that the incidence of COVID-19 will progressively reduce with the introduction of multiple COVID-19 vaccines, and the market will continue to expand at a normal pace.

The therapeutic devices segment is expected to be the largest during the forecast period

The therapeutic devices segment is estimated to have a lucrative growth, due to growing public awareness of these disorders, the availability of technologically advanced devices, the number of local government initiatives, and patient commitment to effective care are all expected to create lucrative opportunities for device manufacturers, which will further the market's expansion. The market is expanding due to the rising prevalence of Sleep Apnea comorbidities and the expanding use of CPAP devices for the treatment of disease.

The homecare settings/individuals segment is expected to have the highest CAGR during the forecast period

The homecare settings/individuals segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the increasing incidence and prevalence of sleep apnea problems, growing public knowledge of the condition and its treatments, and the accessibility of homecare items. The segment will continue to grow rapidly thanks to favourable and expanding coverage for sleep apnea product reimbursement for homecare.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to changes in lifestyle, rising disposable income, the presence of well-known players, an increase in the number of obese people, an increase in the prevalence of respiratory disorders, increased awareness of OSA, and supportive government measures are some of the main drivers of growth. In North America, some of the major players include ResMed, Somnetics International Inc., and Philips Respironics. These businesses have a significant market presence and reliable supply and distribution networks across North America.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to rising investment from the public and private sectors for improving healthcare infrastructure and accessibility; rising prevalence and large base of undiagnosed sleep disordered breathing (SDB) patients in the region; rising focus of the key players to expand in emerging countries through a number of strategic initiatives; rising affordability of the middle-class population; and public and private sector investment

Key players in the market

Some of the key players profiled in the Sleep Apnea Devices Market include Fisher & Paykel Healthcare Limited, ResMed, Somnetics International, Inc., Phillips Respironics, Natus Medical Incorporated, SOMNOmedics GmbH, BMC Medical Co., Ltd., Curative Medical, Inc., Compumedics Limited, Invacare Corporation, Itamar Medical Ltd., Nihon Kohden Corporation, Koninklijke Philips N.V., Cadwell Industries, Inc., DeVilbiss Healthcare LLC , Braebon Medical Corporation

Key Developments:

In January 2021, Itamar Medical acquired technology and assets of Spry Health. This acquisition helped Itamar to leverage Spry’s existing technology to bring the device for continuous remote patient monitoring (RPM) of sleep apnea. This strategic move helped the company gain market expansion opportunity in the growing sleep apnea devices market.

In December 2019, Fisher & Paykel Healthcare signed a USD-1.5-million partnership agreement with Counties Manukau Health (CM Health) to provide funding for clinical research at Middle more Hospital.

In January 2019, ResMed launched AirFit N30i which is its first top-of-head-connected nasal CPAP mask, across the US, using a newly created design nasal cradle cushion that sits just under the wearer’s nose to treat Sleep Apnea.

Types Covered:
• Diagnostic Devices
• Therapeutic Devices

Distribution Channels Covered:
• Retail Sales
• Direct Tender

End Users Covered:
• Home Care Settings/Individuals
• Sleep Laboratories
• Diagnostic Centers
• Hospital/Clinics
• Ambulatory Care Centers
• Specialty Care Center

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements