Industry Insights
Sleep apnea devices market is expected to grow over the forecast
period owing to the increasing prevalence cardiovascular diseases,
incidence of sleep apnea and rising obesity. The other drivers include
growing awareness about stroke, hypertension, Type II adult onset
diabetes, and sophisticated healthcare infrastructure. These factors are
expected to drive the market over the forecast period. Introduction of
advanced technology such as novel and efficient treatment methodologies
and diagnosis has enhanced patient outcome over the past recent years.
Sleep apnea devices demands are picking up due to increased stress
& depression, long working hours, obesity, rise in anxiety levels,
and high incidences of diabetes has led towards high sleep disorders.
Demand in developed countries has got huge momentum as this market is in
emerging stage owing to the sophisticated healthcare infrastructure and
high awareness.
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Over the next five years, developing economies will witness healthy
growth as awareness is increasing in both patients and medical
fraternity. Therapeutic devices have a high potential for
commercialization and development as there is a demand & need for
effective treatment devices. Globally, sleep apnea devices market in
2013 was valued at $ 1.9 billion and over the forecast period it will be
growing at a CAGR of over 10%. Over the forecast period sleep apnea
devices market expected to grow due to increased investment by market
leaders towards compact, efficient and comfortable therapeutic devices.
There are some restraining factors attached along with this market such
as reliability of therapeutic devices, limited reimbursement, and lack
of patient compliance.
Product Insights
Sleep apnea devices market is broadly classified on the basis of
product types into diagnostic devices and therapeutic devices. Among
these, diagnostic devices held the largest share in 2013. Diagnostic
devices include polysomnography (PSG) devices, actigraphy systems,
respiratory polygraphs and single channel screening devices (pulse
oximeters). Demand for PSG devices has increased a lot over the recent
years as patient prefers to sleep at home rather than at lab, convenient
to be tested at home, and cost effective.
Due to the low cost, the demand for other products has also increased
such as single channel screening devices, two channel screening
devices, respiratory polygraphs, actigraphy systems. Therapeutic devices
comprise of airway clearance systems, adaptive servo ventilation (ASV)
device, oral appliances, oxygen devices and positive airway pressure
(PAP) system. Among these, oral appliances is fastest growing segment as
it is used for the treatment of moderate sleep apnea. For the treatment
of OSA, oral appliances are used as per the physician prescription and
operated by only ENT, dentist, oral surgeon or by expert in sleep apnea
devices.
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Regional Insights
Geographically, the sleep apnea devices market is studied by
segmenting the market into North America, Europe, Asia Pacific and RoW.
North America is dominating the whole market due to increased awareness
of sleep apnea, rising disposable income, increasing obesity,
sophisticated healthcare infrastructure and high insurance coverage. As
per the recent report published in March 2014 by European Sleep Apnea
Database (ESADA), it says that nearly 15,500 people are being registered
as sleep apnea patients. Asia Pacific will witness lucrative growth
rate over the forecast period due to increasing population, government
initiatives and growing economy.
Competitive Insights
The major market players in the sleep apnea devices market are
ResMed, Philips Respironics, DeVilbiss Healthcare, CareFusion, Natus
Medical, Fisher & Paykel Healthcare and Weinmann Medical Devices.
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