Sleep Apnea Devices Market Is Anticipated To Grow At A CAGR of Over 10% By 2020: Hexa Research

Deep Research on “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.

Industry Insights

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. 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.

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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.

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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Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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