- CNS stimulants
Obstructive Sleep Apnea Drugs Market size was valued at USD 9,153.7 million in 2022 and is poised to grow at a CAGR of 3.7% from 2023-2029. Sleep apnea is a sleeping disease caused by irregular breathing and oxygen deprivation of the brain. According to a study published in 2020 by the American Sleep Association, between 50 and 70 million people in the United States suffer from sleep disorders. According to research published by the American Sleep Association in 2020, an estimated 50 million to 70 million persons in the United States suffer from sleep disturbances. Furthermore, the Canadian Respiratory Journal reported in 2014 that around 5.4 million persons in Canada had been diagnosed with sleep apnea or were at risk of acquiring Obstructive sleep apnea. A surge in the prevalence of sleep apnea is majorly driving the growth of the sleep apnea treatment market. Furthermore, the growing geriatric population, rising lifestyle changes, growing home care acceptance coupled with the awareness of sleep disorders, improving healthcare infrastructure, an introduction of new technologies, and innovative products are expected to fuel the growth of the sleep apnea treatment market. The massive pool of undiagnosed patients with sleep apnea holds tremendous potential for the sleep apnea devices market. The older population has a significant prevalence of sleep apnea, which is underdiagnosed due to lack of knowledge and the disease's non-specific presentation. Sleep disturbances are projected to become more common as the senior population grows as life expectancy increases. According to the WHO, the global population of persons aged 60 and more is predicted to reach 2.0 billion by 2050 in 2018. Because this population group is more susceptible to sleep apnea, an increase in the senior population is projected to enhance the use of these devices. Furthermore, because comorbidities linked with sleep apnea are high among the elderly, the prevalence of sleep apnea is rising in the geriatric population.
Obstructive Sleep Apnea Drugs Market Key Developments:
In May 2022, Axsome Therapeutics, Inc. a biopharmaceutical company developing novel therapies for the management of central nervous system (CNS) disorders, announced the completion of its U.S. acquisition of Sunosifrom Jazz Pharmaceuticals. Sunosi is a dual-acting dopamine and norepinephrine reuptake inhibitor (DNRI) indicated to improve wakefulness in adult patients with excessive daytime sleepiness (EDS) due to narcolepsy or obstructive sleep apnea (OSA). The ex-U.S. transaction is expected to close within 60 days.
In March 2020, Clearmind Medicine Inc, a biotech company focused on discovery and development of novel psychedelic-derived therapeutics to solve major undertreated health problems, announced a Collaboration agreement (with SciSparc Ltd. The Collaboration will address, inter alia, examining the benefit of integrating the core technologies of each company by combining molecules from their respective development pipelines.
Fastest Growing Market
The enormous pool of undiagnosed sleep apnea patients, growing knowledge about the adverse effects of untreated sleep apnea, and an increasing number of players venturing into the sleep apnea industry are driving market expansion. With the ongoing awareness campaigns and efforts, it is envisaged that a new patient base will be diagnosed and treated for sleep apnea. However, the sleep apnea treatment market is projected to be hampered by tight regulatory procedures, pharmacological side effects, and intense market rivalry.
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.