Sleep Apnea Device Market: By Type (Therapeutic (CPAP, PAP, Facial Interfaces Mask, Oral Appliance, Mandibular Advancement Device) and Diagnostic (PSG, Oximeter)), End-User (Sleep Laboratories, Hospitals, Home Care & Clinics) – Forecast Till 2022
The global Sleep Apnea Device Market is expected to reach an approximate CAGR of 7.8% during the forecast period. Sleep apnea is a serious disorder, wherein breathing is interrupted for a brief or repeated period of time during sleep. Apnea means ‘no breath’ and sleep apnea causes a pause in breathing for at least ten seconds. Sleep apnea is divided into two types, obstructive and central sleep apnea. The former is caused due to a blockage of the upper airway. Whereas, the latter occurs when the brain is not able to properly control breathing during sleep. Untreated sleep apnea causes a person to experience repeated instances of pause in breathing during their sleep. In such cases, the brain and the rest of the body are not able to get enough oxygen intake. Sleep apnea devices are of immense importance in treating obstructive sleep apnea (OSA), a prevalent medical condition that affects a large number of people worldwide. The latest report revealed by Market Research Future (MRFR) reveals that the global Sleep Apnea Devices Market Outlook to attain an anticipated CAGR figure of 7.8% during the forecast period.
The market is increasing at a rapid pace due to the increasing number of individuals being affected by OSA and the advancing technologies in the healthcare sector. Additionally, increasing problems related to obesity and an increasing old-age population is causing more and more patients to be affected with sleep apnea, thereby further pushing the demand for these devices. Another factor that is influencing a positive demand in the market is the increasing preference of patients for such devices instead of opting for surgical treatments for these sleep disorders.
Amidst all the positive signs, the high cost of the devices and the availability of various other alternative treatment methods can restrain the market growth of these devices.
The global sleep apnea device market segmentation is classified on the following basis: types and end-user.
By type, the market segments into diagnostic and therapeutic sleep apnea devices.
The therapeutic segment narrows down into Positive Airway Pressure (PAP) devices, Adaptive Servo-Ventilators (ASV), Continuous Positive Airway Pressure (CPAP), oral appliances, facial interfaces (mask), accessories, and other therapeutic devices such as airway clearance systems and oxygen concentrators. The diagnostic segment divides into oximeter and Polysomnographs (PSG).
By end-user, the market includes home care, hospitals, and sleep laboratories. During the forecast period, the home care segment is expected to grow at a massive scale.
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The geographical segmentation of the global Sleep Apnea Devices Market Outlook comprises of four major regions – North America, Asia-Pacific, Europe, and the Rest of the World.
North America is the biggest market holder in the global Sleep Apnea Devices Market Outlook. Factors supporting the growth of the market are the wide-spread prevalence of sleep apnea, the proliferating demand for these devices, and increasing investments from private as well as government institutions to promote awareness concerning the same. Europe is the second-largest market for these devices due to the use of non-invasive and painless cardiorespiratory monitors.
Asia-Pacific is positioned to register the highest growth percentage during the assessment period. Herein, the key factors driving the market are the rising prevalence of sleep disorders, the undiagnosed pool of patients in countries like India, and a growing impetus on raising the awareness of sleep apnea by government and private institutions. Lastly, the Middle East & Africa boasts the least market share owing to the presence of strict government policies and poor economic condition.
The global Sleep Apnea Devices Market Outlook hosts a pool of noteworthy players, including BMC Medical Co, Ltd (China), Fisher & Paykel Healthcare Limited (New Zealand), Koninklijke Philips N.V. (Netherlands), Curative Medical (U.S.), Invacare Corporation (U.S.), GE Healthcare (U.S.), ResMed (U.S), Cadwell Industries, Inc (U.S.), Braebon Medical Corporation (Canada), and ImThera Medical Inc. (U.S.).
On Feb 15th, 2019, an announcement was made concerning the agreement between Impression Healthcare Ltd. and RespireRx Pharmaceuticals Inc. The move aims to commercialize dronabinol, a form of cannabinoid, for the treatment of Obstructive Sleep Apnea (OSA) in Southeast Asia and Australia and New Zealand.
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