Sleep apnea devices industry is witnessing a rapid pace of technological advances that result in the development of effective diagnostic and therapeutic platforms. Sleep disorders hamper the quality of life and result in loss of productivity of an individual. Many of the sleep apnea cases are undiagnosed due to lack of awareness regarding the symptoms and effects. Untreated sleep apnea results in worsening of several health conditions such as hypertension, stroke, diabetes, heart diseases and others. Hence, diagnosis of sleep apnea is essential to maintain a healthy and productive lifestyle. Sleep studies are the most crucial diagnostic measure employed to confirm sleep apnea.
Post diagnosis based on the severity of the condition the patient is recommended to use several therapeutic devices such as oral appliances, positive airway pressure devices, oxygen concentrator etc. Home sleep testing and sleep laboratory testing represents the two modes of diagnosis. Currently, home sleep testing with its compact and user friendly devices are preferred over the conventional equipment. This is majorly due to high comfort levels and ease of handling of these devices. The major factors contributing towards proliferation of sleep apnea devices market are persistent product modifications, introduction of novel technologies and increasing awareness of sleep apnea. On the contrary high cost of diagnostic procedures, lack of patient compliance with therapeutic devices and high degree of discomfort levels are some of the factors that might encumber the growth of sleep apnea devices market. The global market for sleep apnea devices market was valued at USD 3,805.3 million in 2012 and is estimated to reach USD 6,437.6 million by 2019 growing at a CAGR of 7.8% from 2013 to 2019.
Sleep apnea devices market can be analyzed by diagnostic and therapeutic devices and geography. Diagnostic devices segment is further classified into four major types. Actigraphy devices are anticipated to grow at a highest CAGR of over 7% followed by respiratory polygraph throughout the forecast period from 2013 to 2019. The major reason being the compact nature of these devices and these devices support home testing with high reliability. In addition, rapid pace of technological advances and increased preference for portable and mobile devices further fuel the growth of the market. This can be evident from some of the technologically advanced development of efficient and compatible actigraphy systems along with development of various forms of pulse oximeters.
Innovation and novelty in design and features of therapeutic devices provide lucrative growth prospects for the sleep apnea devices market. This can be evident from the introduction of implantable devices based on neurostimulation along with development of portable and highly mobile treatment devices such as CPAP device developed by Human Design Medical Company. All these factors encourage the growth and uptake of these devices worldwide. Positive airway pressure (PAP) devices and oral appliances are estimated to record highest growth rates during the forecast period. The major reason being the development of custom made devices depending on the nature of symptoms and patient compliance.
Geographical landscape elucidates the market trends based on four major geographies namely North America, Europe, Asia-Pacific and Rest of the World (RoW). North America and Europe dominated the global sleep apnea devices market and accounted for largest percentage of the total market accounting for more than 60% of the total market. This is attributed to the presence of technologically sophisticated sleep laboratories along with technically sound sleep specialists and increasing awareness of sleep apnea in these regions. In addition, alarming rates of obesity and favorable reimbursement scenario will further accelerate the growth and uptake of sleep apnea devices. Asia-Pacific and RoW regions are anticipated to record limited growth rates as compared to developed regions due to lack of awareness coupled with lack of well-established healthcare infrastructure. In addition, low rates of adoption of technological advances in these regions further decelerate the growth of sleep apnea devices.
The overall sleep apnea diagnostic and therapeutic devices market is fragmented with the presence of both established and emerging companies in this field which includes ResMed, Inc., Philips Healthcare (Respironics), CareFusion Corporation, Fisher & Paykel Healthcare and GE Healthcare. Rigorous investments by the companies towards developing efficient diagnostic and therapeutic platforms is evident for promising growth prospects in this market. The factors that influence the proliferation of the market are perennial product amendments followed by increasing number of sleep apnea patients across the globe. However, lack of patient compliance, less favorable reimbursement scenario and high costs of the diagnostic procedures might impede the market growth.
Rapid pace of technological developments in the field of sleep apnea devices has ensured introduction of efficient diagnosis and treatment methodologies that has rendered enhanced patient outcomes. The sleep apnea devices market is witnessing impressive growth globally majorly due to tremendous demand for novel and innovative diagnostic and efficient treatment methodologies. Treatment of sleep disorders is essential in order to ensure healthy lifestyle. The speedy growth of the overall medical device industry is considered to be a major driving force for the growth of the sleep apnea diagnostic and therapeutic devices market.
The report analyzes the global market for sleep apnea devices by two major segments namely diagnostic and therapeutic devices. Also, a detailed geographical landscape has been provided. The diagnostic devices segment has been further categorized into four major diagnostic devices namely actigraphy systems, polysomnography devices, respiratory polygraph and single channel screening devices (pulse oximeters). Therapeutic devices segment has been further classified into five major devices namely, airway clearance systems, adaptive servo-ventilators (ASV), positive airway pressure (PAP) devices, oral appliances and oxygen devices.
All the above mentioned segments are analyzed on the basis of market size in terms of USD million and their forecasts for the period 2013 to 2019 have also been provided. The CAGR (%) for each market segment has been estimated for the forecast period 2013 to 2019, considering 2012 as the base year.
On the basis of geography this market has been categorized into four major geographic regions namely North America, Europe, Asia-Pacific and Rest of the World (RoW). Market sizes, forecasts and % CAGR for the above mentioned segments have been provided. A detailed qualitative analysis of the factors responsible for driving and restraining the growth of sleep apnea diagnostic and therapeutic devices market and future opportunities has been described in the market overview section of the report. A PESTLE analysis has also been considered while estimating the market for individual geographies in order to provide current as well as future status.
Several other analytical perspectives such as Porter’s Five Forces Analysis and market attractiveness have been described in order to give a thorough analysis of the market. The competitive landscape section of the report includes market share analysis of the major players in the ophthalmology diagnostics and surgical devices market for the year 2012. Some of the major players profiled in this report include ResMed, Inc., Philips Healthcare (Respironics), Fisher & Paykel Corporation and others. Also, a list of recommendations for existing as well as new entrants has also been discussed in the study which would help in decision making.
The global sleep apnea devices market is segmented into the following categories:
Sleep Apnea Diagnostic and Therapeutic Devices Market, by Diagnostic Devices
- Actigraphy Systems
- Polysomnography (PSG) Device
- Respiratory polygraph
- Single-Channel Screening Devices (pulse Oximeters)
Sleep Apnea Diagnostic and Therapeutic Devices Market, by Therapeutic Devices
- Airway Clearance Systems
- Adaptive Servo-Ventilation (ASV)
- Positive Airway Pressure (PAP) Device
- Oral Appliances
- Oxygen Devices
Sleep Apnea Diagnostic and Therapeutic Devices Market, by Geography
- North America
- Rest of the World (RoW)