Sleep Apnea Diagnostics and Therapeutics Market Size Prognosticated to Perceive a Thriving Growth by 2026
The global sleep apnea market has garnered significant prominence, due to the continued advent of technological advancements in sleep apnea devices. High demand of novel convenient devices and booming patient base has generated a need for better devices worldwide. Sedentary lifestyle and rising prevalence of lifestyle diseases such as obesity and diabetes are the key factors that drive the sleep apnea market. Additionally, rising awareness and established healthcare regime in developed regions have fuelled the market growth. Furthermore, augmented R&D investments by leading companies to develop efficient and patient compliant devices are anticipated to bolster the market growth. However, limited reimbursement of these devices and low patient compliance are likely to hinder the market growth.
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Sleep apnea or Sleep disordered breathing (SDB) is a disorder that is characterised by brief interruptions in breathing or shallow breathing during sleep. Obstructive Sleep Apnea (OSA) is the most common type of sleep apnea. Currently, around 20 million people are expected to have OSA in U.S., which accounts for around 6 per cent of the population. Moreover, about 85 to 90 per cent of OSA patients are anticipated to remain undiagnosed that demonstrates the unmet medical need.
This unmet medical need would provide lucrative growth opportunities for device makers to address the untapped market potential in future. Furthermore, developing regions with changing lifestyle, rapid urbanization, rising awareness and improving healthcare access would offer attractive opportunities for device makers. As the market heavily relies on technology, reformulating the device innovation roadmap would be a key challenge for device makers to sustain in the sleep apnea market.
One of the key strategies adopted by leading players in the market is product launch. Recently, ResMed launched the AirFit P10 nasal pillows system, AirFit F10 full-face mask, AirFit N10 nasal mask and the Astral platform, a new generation of life support ventilators. Moreover, the companies are also conducting educational programs and awareness campaigns. For instance, ResMed has joined hands with special groups such as the National Sleep Foundation, the National Stroke Association and the American Heart Association to conduct awareness campaigns and promote its brand.
To provide a detailed market understanding, the report fragments the Sleep apnea diagnostics and therapeutics market on the basis of diagnostic devices, therapeutic devices and geography. On the basis of diagnostic devices, the market is segmented into Polysomnography (PSG) Devices, Actigraphy Systems, Respiratory Polygraph and Pulse Oximeters. Based on therapeutic devices, the market is segmented into Positive Airway Pressure (PAP) Devices, Airway Clearance Systems, Adaptive Servo Ventilation (ASV) Systems, Oxygen Devices, Oral Appliances and Others. The report covers a detailed market analysis for each of the aforementioned segments and provides the geographic market scenario across North America, Europe, Asia Pacific, and LAMEA.
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The report also covers a comprehensive competitive analysis and profiles of the key market players, some of which include Philips Respironics, ResMed, Becton, Dickinson and Company (CareFusion), Teleflex, Fisher & Paykel Healthcare.
KEY MARKET BENEFITS:
• This report provides an extensive analysis of the current and emerging market trends and dynamics in the global sleep apnea diagnostics and therapeutics market
• The sleep apnea diagnostics and therapeutics market scenario is comprehensively analyzed in accordance with the key regions
• The report covers the detailed quantitative analysis of the current market and estimations through 2014-2020, which would enable the stakeholders to capitalize on prevailing market opportunities
• Extensive analysis of the market is conducted by closely following key product positioning and monitoring the top contenders within the market framework
• Competitive intelligence highlights the business practises followed by leading market players across geographies
• A detailed SWOT analysis enables to study the internal environment of the leading companies for strategy formulation.
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