Sleep Apnea Devices Market to Reach USD 7 billion by 2020
Posted by David Jones on August 18th, 2017
The global sleep apnea devices market is projected to reach approximately USD 7 billion by 2020. The market was valued at nearly USD 2 billion in 2013. It may expand at a CAGR over 10% during the forecast period (2014 to 2020). High incidence of sleep related & lifestyle disorders drives product demand. Demand may surge considerably over the forecast period due to prevalence of lifestyle disorders triggered by sleep apnea. These lifestyle disorders are hypertension, atrial fibrillation, diabetes, obesity, and congestive heart failure among others. Growing geriatric population is also a key market driver since sleep disorders are common among the elderly. Improvements in healthcare infrastructure and awareness about type II diabetes, hypertension, and stroke could positively impact the industry over the next couple of years.
The global Sleep Apnea Devices Market is segmented on the basis of products and regions. Based on products, the industry is bifurcated into diagnostic devices and therapeutic devices. Diagnostic devices are further segmented into actigraphy systems, PSG (polysomnography) devices, single channel screening devices (or pulse oximeters), and respiratory polygraph. Over the past couple of years, demand for PSG devices has been quite high. This attributes to the fact that for sleep tests, patients prefer their homes to the laboratories. Besides being cost effective, PSG devices rank high on convenience.
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Different types of therapeutic devices are oxygen devices, oral appliances, PAP (positive airway pressure) devices, ASV (adaptive servo ventilation) systems, airway clearance systems, and others. “Oral appliances” is a rapidly expanding segment since these are used for treating moderate sleep apnea. The treatment of obstructive sleep apnea (OSA) involves oral appliances that are generally prescribed by oral surgeons, ENT specialists, or dentists. Surging demand for PAP devices could significantly contribute to market progress. Treatment of sleep disorders and airway management are two key applications of PAP devices.
Based on geographies, the global Sleep Apnea Devices Market is categorized into Europe, Asia Pacific, North America, and Rest of the World (RoW). The overall industry is led by North America. Factors that fuel this region are rising income levels, widespread awareness about sleep apnea, high insurance coverage, the problem of obesity, and a well developed healthcare infrastructure. Asia Pacific may expand favorably at a nearly 11% CAGR during the forecast period. The region is propelled by favorable government initiatives, economic development, and a rapidly growing population.
Prominent companies operating in the worldwide Sleep Apnea Devices Market are Natus Medical, ResMed, Weinmann Medical Devices, DeVilbiss Healthcare, and CareFusion among others. Mandibular Advancement Device is an oral appliance developed by Refresh Snoring and Sleep Apnea Center, U.S. This device finds the forward position of the patient’s jaw that helps maximize airflow and holds the jaw right there, when the patient is asleep. It is an easy-to-use wearable device that patients can effectively use while moving around. It doesn’t create any humming machine noise that is often made by most sleep apnea devices. Around fifteen independent case studies have shown the clinical benefits of the Mandibular Advancement Device, with more than 90% patients having reported improved sleep.
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About the AuthorDavid Jones
Joined: August 11th, 2017
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