Sleep Apnea Devices Market
Global Sleep Apnea Devices market is a chronic disorder, characterized with repetitive obstructions in breathing during sleep. Major symptoms include snoring, gasping or choking. Long-term health problems associated with OSA include cardiovascular disorders, memory and cognitive problems, glaucoma, depression and mood disorders. Polysomnography and portable home sleep diagnostic devices are enabling diagnose the Obstructive sleep apnea (OSA). First line therapy for involves positive airway devices(PAP). If patients do not respond to the PAP therapy, second-line treatment includes dental appliances and surgery.
Rapid traction in the global geriatric population coupled with increased obesity levels enables to increase the prevalence of sleep apnea. The world is experiencing growth in the number and proportion of old age people. As per WHO, the number of people aged 60 years or over is projected to grow approximately 56 % between 2015 to 2030. According to estimates, a prevalence of OSA is approximately 3% to 7% of the adult men and 2 to 5% of adult women. Moreover, 80% of the patients with moderate to severe sleep apnea may be undiagnosed.
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Global sleep apnea devices market by product can be segmented as therapeutic devices, diagnostic devices. Therapeutic sleep apea devices market expected to expand at significant CAGR due to adoption of advanced technologies to treat OSA. CPAP devices are most commonly used devices to treat OSA, the pressure delivered to the airway is same during both inhalation and exhalation.
Diagnostic devices include polysomnography, respiratory polygraph devices. Actigraph devices is expected to expand at significant CAGR. These devices enable measure motions of the body and assess real world sleep/ wake patterns.
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Sleep apnea device market has been segmented into following regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
U.S. is accounted for majority of market share in 2015, expected to continue is revenue share in North America, owing large patient pool in country. In accordance with National Sleep Foundation statistics, about 18 million people in the U.S. suffered from sleep apnea in 2012. Favourable reimbursements policies for sleep apnea devices are enabling accelerate the market. For instance, Medicare reimbursement offers US $ 103.42 for CPAP device, HCPCS-E0601.
Europe market is driven by government initiatives to increase awareness about sleep apnea, adoption of novel treatment options able to create lucrative opportunities over the forecast period. As per European Sleep Apnea Database (ESADA) 2011, Prevalence of sleep apnea is around 2% of adult female and 4% of adult male. Sleep apnea is associated with impaired neuropsychological function, reduced social functioning and quality of life.
UK is accounted majority of market share due to increased prevalence of sleep apnea coupled with favourable government policies and reimbursement scenario.
Asia-Pacific offers lucrative opportunities due to increased medical tourism in the emerging countries such as South Korea, China, and India. Adoption of cutting-edge technologies coupled with cost effective treatments enables witness for unlock the potential of sleep apnea devices market.
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Some of players in the sleep apnea devices market are SomnoMed Ltd., ResMed, Inc, Philips Healthcare, Fisher & Paykel Healthcare Ltd., Compumedics Limited, Braebon Medical Corporation, Weinmann Medical Devices GmbH, BMC Medical Co., Ltd. DeVilbiss Healthcare. Market players focused on novel product introductions, mergers and acquisition strategies to gain the competitive advantage in the market. For instance, in October 2015, Philips Respironics introduced a new Dream family solution comprising of innovative mask design which enable OSA patients feel comfortable while resting and experience improved performance of sleep therapy.
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