Wristband connects to an app on iPhone or Android to detect snoring and activates gentle vibrations, prompting users to change their sleeping position
NEW YORK, Sept. 30, 2024 -- AppYea Inc. (OTCQB: APYP), developer of an innovative wearable solution to monitor sleep apnea and snoring, today announced the launch of the new AppySleep device. AppySleep is the first product to leverage AI for optimal customization of snoring treatment and can also detect irregular breathing patterns.
At this stage of the launch, the app can be downloaded for free. However, using the app requires purchasing the accompanying wristband, available at the company's store (http://www.appysleep.com) or on Amazon for an introductory price of $149. The wristband is delivered to U.S. customers within 72 hours.
Customers who purchase AppySleep during the launch will receive a free access to a personal cloud where they can view their sleep history, statistics, personalized graphs, and track improvements in their snoring and overall sleep quality.
In the coming months, the company plans to expand marketing efforts in the U.S. and Canada.
In addition, Appyea is making progress with the development of AppySleep LAB - a touchless app designed for diagnosing sleep apnea without the need for an overnight stay in sleep labs.
The company estimates that it will pre-submit a request to the FDA of AppySleep LAB during H1 2025.
Bary Molchadsky, Chairman of AppYea, commented on the product launch: "Snoring is a common issue, particularly for individuals over the age of 35, yet there have been no comfortable solutions. AppySleep offers an easy-to-use technological solution with an intuitive interface. Our app listens for breathing patterns and, when continuous snoring is detected, activates a gentle vibration in the wristband that encourages users to shift to a side-sleeping position. After several weeks of use, the vibration helps condition users to sleep in the correct position, significantly reducing snoring. The vibration settings can be customized through the app."
Mr. Molchadsky added: "The app provides users with detailed reports and graphs, allowing them to monitor the reduction of snoring over time as well as track other important parameters, including irregular breathing patterns."
The company's online store also offers detailed instructions on how to use the product, along with instructional videos: https://appysleep.com/how-it-works.
Market Overview:
- According to Precedence Research, the Sleep Tech Devices Market was valued at USD 21.10 billion in 2023 and is expected to reach USD 113.16 billion by 2033, growing at a CAGR of 18.23% from 2024 to 2033. The wearables segment held the largest market share, approximately 76%, in 2023 and is expected to maintain its dominance throughout the forecast period.
- Fior Markets reports that the Global Anti-Snoring Treatment Market is projected to grow from USD 4.3 billion in 2020 to USD 8.6 billion by 2028, reflecting a CAGR of 9.07% during the period from 2021 to 2028.
- Fior Markets also estimates that the Global Sleep Apnea Devices Market will reach USD 6.4 billion by 2025.
About AppYea
AppYea is a Healthtech company commercializing innovative wearable technology for the treatment of snoring and developing wearable solutions to diagnose and treat sleep apnea. The Company's solutions are based on its proprietary IP portfolio of AI and sensing technologies for the tracking and analysis of breathing patterns, vital signs, and other physiological parameters during sleep, designed for greater accuracy at lower and affordable cost.
Cautionary Note Regarding Forward-Looking Statements
Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of AppYea are subject to many factors including, but not limited to, the sufficiency or working capital and our ability to raise the capital needed to fund our development efforts, the going concern qualification in our financials, timing of product development, the success of the new App, customer acceptance of our products in the market, the introduction of competitive products, the effectiveness of our product distribution networks, the impact of any product liability or other adverse litigation, commercialization and technological difficulties, and the other risks identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission on April 1, 2024, as subsequently supplemented. Such statements are based upon the current beliefs and expectations of management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward-looking statements, whether as a result of future events, new information, or otherwise.
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