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. 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.
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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.
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.
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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.
Table of Contents
Chapter 1. Executive
Summary
1.1.
Sleep Apnea Devices - Industry Summary and Critical Success Factors (CSFs)
Chapter 2. Sleep Apnea
Devices Industry Outlook
2.1.
Market Segmentation
2.2.
Market Size and Growth Prospects
2.3.
Sleep Apnea Devices Value Chain Analysis
2.4.
Sleep Apnea Devices Market Dynamics
2.4.1.
Market Driver Analysis
2.4.2.
Market Restraint Analysis
2.5.
Key Opportunities Prioritized
2.6.
Industry Analysis - Porter's
2.7.
Sleep Apnea Devices - Key Company Analysis, 2013
2.8.
Sleep Apnea Devices Market PESTEL Analysis, 2013
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