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Description
Obstructive Sleep Apnea Drugs Market size was valued at USD 9,153.7 million in 2021, growing at a CAGR of 3.7% from 2022-2028. 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.
Recent Market 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.
