Sleep Apnea Devices Market to exceed $8.5bn by 2023
Published Date: February 14, 2017 Author: Global Market Insights, Inc.
Sleep Apnea Devices Market size is poised to exceed USD 8.7 billion by 2023; according to a new research study from Global Market Insights, Inc.
Growing prevalence of sleep apnea disorders coupled with increasing incidence of lifestyle related chronic diseases such as cardiovascular disorders and obesity will stimulate the global sleep apnea devices market growth. Major conditions leading to sleep apnea include atrial fibrillation, coronary artery disease, obesity, type-II diabetes, congestive heart failure, stroke, and hypertension. Sleep apnea devices market will offer lucrative growth opportunities in emerging countries due to increasing prevalence, improving diagnosis rates and introduction of novel technologies improving patient comfort.
Positive Airway Pressure (PAP) market was the highest revenue generating therapeutic devices in 2015. Increased adoption rates coupled with availability of innovative features over other therapeutic devices will increase PAP devices demand. Adaptive Servo-Ventilation (ASV) should account for over 20% of sleep apnea devices market share by 2023. It provides non-invasive positive airway pressure through nasal or oronasal interfaces.
Oral appliances may witness notable growth owing to increasing preference among medical fraternity and flexibility of its usage with other treatments such as weight management and surgery. Growing patient awareness levels and presence of favorable initiatives aimed at curbing disease prevalence will stimulate sleep apnea devices market growth. Actigraphy systems are set to be the highest revenue generating devices with the introduction of wireless communication features and huge R&D investments aimed at new product development.
Respiratory polygraphy devices is set to grow at more than 7% owing to its ability to measure patient’s condition in settings other than artificial laboratory testing. It ensures high patient sleep quality at minimal cost.
Browse key industry insights spread across 105 pages with 38 market data tables & 6 figures & charts from the report, “Sleep Apnea Devices Market Size By Therapeutics [Airway Clearance System, Adaptive Servo-Ventilation, Positive Airway Pressure (PAP), Oral Appliance, Oxygen Device], By Diagnostics [Actigraphy System, Polysomnography Device (PSG), Respiratory Polygraph, Single-Channel Screening Device (Pulse Oximeter)] Industry Analysis Report, Regional Outlook (U.S., Mexico, UK, Germany, Japan, China, India, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:
U.S. sleep apnea devices market should witness over 7.5% CAGR to reach USD 3 billion in 2023. The presence of a huge patient pool and availability of technologically advanced products catering to patient safety and comfort should fuel business growth.
UK sleep apnea devices market size exceeded USD 200 million in 2015, it is set to continue growing at over 7% CAGR from 2016 to 2023. Increasing OSA prevalence, favorable government initiatives and improved awareness about the disease treatment should stimulate industry expansion.
China sleep apnea devices market should witness over 11% growth from 2016 to 2023. Growing geriatric population with large untapped opportunities will provide lucrative growth opportunities for regional industry players. Furthermore, increasing prevalence of obstructive sleep apnea syndrome (OSA) will propel business growth.
Brazil sleep apnea devices market revenue exceeded USD 35 million in 2015, it is forecast to experience significant rise due to rapidly improving healthcare infrastructure and presence of high patient unmet need for effective treatment.
Some of the companies operating in sleep apnea devices market include Braebon Medical, Cadwell Laboratories, Carefusion, Compumedics, Philips Respironics and ResMed. Industry players are focusing on developing easy to use, portable and highly comfortable products.
Introduction of effective therapeutic devices will boost the industry growth. For instance, Provent sleep apnea therapy is a disposable product and uses the power of patient’s breathing to create Expiratory Positive Airway Pressure. The product demonstrated significant levels of improvement across all levels of OSA. Other devices like masks, nasal pillows, headgear, humidifiers, filters, and tubes used as regular replacements of accessories will support sleep apnea devices market growth.
Sleep apnea devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons & revenue in USD million from 2012 to 2023, for the following segments:
Sleep apnea devices market by product
- Therapeutic Devices
- Adaptive Servo-Ventilation Systems
- Airway Clearance Systems
- Oral appliances
- Oxygen devices
- Positive Airway Pressure (PAP) devices
- Other products
- Diagnostic devices
- Actigraphy systems
- Polysomnography (PSG) devices
- Respiratory polygraphs
- Single-channel screening devices pulse oximeters
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South America
- Middle East and Africa