The global sleep apnea devices market is estimated to be over US$ 4 Billion in 2017. It is anticipated to grow at a CAGR of 10.0% from 2019 to 2030.
The continual growth of the sleep apnea devices market can be attributed to several factors which have led to wide scale adoption of these products. Factors such as growing aging population and increase in lifestyle diseases like obesity, are further expected to contribute to the stable growth of the global sleep apnea devices market from 2019 to 2030. According to the National Healthy Sleep Awareness Project in 2015, it was revealed that obstructive sleep apnea affects more than 25 million people in the U.S. and it is a chronic disease that badly affects people. To obtain better insights regarding the market scenario, prominent players are increasingly focusing on collaborative initiatives with several institutes and research centers. For instance in 2018, Verily, a health data analytics company entered into an agreement with ResMed, a medical device manufacturer of sleep apnea. Both the companies have entered into a collaborative effort to study health and financial impacts of undiagnosed and untreated sleep apnea.
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Top Players:
The prominent players in the global sleep apnea devices market are ResMed , Koninklijke Philips N.V., Fisher & Paykel Healthcare Limited, Compumedics Limited, DeVilbiss Healthcare LLC, BMC Medical Co., Ltd, VYAIRE, Curative Medical, Invacare Corporation and Somnetics International, Inc
Growing Factor:
Sleep apnea is a severe sleep disorder in which breathing recurrently stops and starts and incidence of this disorder is growing, owing to increasing lifestyle diseases like obesity. This trend of increase in sleep apnea disorders is expected to grow significantly during the forecast period. According to the survey conducted by Sleep Apnea Organization, in 2017, more than 22 million Americans suffered from sleep apnea disorder and also 80 percent of moderate to severe sleep apnea cases were undiagnosed. Worldwide, above 100 million people suffer from sleep apnea disorder and 50% of the general population are snorers which indicates the fact that this population has the potential need of sleep apnea devices. There is rise in demand for oral sleep apnea devices over positive airway pressure sleep apnea devices. The oral sleep apnea devices work against sleep apnea, for instance, they can be used to treat some people who have mild or moderate Obstructive Sleep Apnea (OSA), they are also effective to stop snoring. Oral appliance device treatment of OSA is considered as an effective, low-risk alternative to positive airway pressure sleep apnea devices. Moreover, oral appliances use the traditional methods to advance the mandible, thus adjust the posture and there by broaden the airway or otherwise reduce the collapsibility. These factors are anticipated to contribute to the growth of this market during the forecast period.
Obstructive Sleep Apnea (OSA) is a common sleep related breathing disorder and the most effective treatment for patients is Positive Airway Pressure (PAP) sleep apnea devices. According to the journal published by International Journal of Research in Medical Sciences in 2017, in patients that use PAP the compliance rate is 30% – 80%, which is more as compared to compliance rate of other sleep apnea devices. The most common reason for low patient compliance is the cost of the device. This factor is expected to hinder the growth of the global sleep apnea devices market during the forecast period.
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Regional Analysis:
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Increasing prevalence of sleep apnea and initiatives taken by the government & other private organizations to raise awareness about sleep disorders is expected to aid the growth of sleep apnea devices market in this region. Moreover, in India large number of undiagnosed people, expanding population and rising healthcare expenditure is anticipated to further boost the sleep apnea device market in the region.
Table of Contents
- INTRODUCTION
- Market Definition
- Market Ecosystem
- Market Classification
- Geographic Scope
- Years Considered for the Study: Historical Years – 2016 & 2017; Base Year – 2018; Forecasted Years – 2019 to 2030
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Methodology
- Bottoms Up Approach
- Top Down Approach
- Data Validation and Triangulation
- Market Forecasting Model
- Limitations/Assumptions of the Study
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESMENT
- Overview
- Drivers
- Barriers/Challenges
- Opportunities
- UNIQUE SELLING PROPOSITIONS (USPs)
- Product Analysis (Snapshot)
- Epidemiological Assessment
- Pipeline Assessment
- GLOBAL SLEEP APNEA DEVICES MARKET- ANALYSIS & FORECAST, BY PRODUCT
- Therapeutic Devices
- Adaptive Servo Ventilation (ASV) Devices
- Positive airway pressure (PAP) Devices
- Oral Appliances
- Airway Clearance Systems
- Oxygen Devices
- Diagnostic Devices
- Polysomnography (PSG) Devices
- Oximeter
- Actigraphy Devices
- Others
- Therapeutic Devices
- GLOBAL SLEEP APNEA DEVICES MARKET – ANALYSIS & FORECAST, BY END USER
- Sleep Laboratories & Hospitals
- Home Care
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