Sleep Apnea Devices Market To Witness Significant Growth Based On Rising High Prevalence Of Respiratory Diseases Till 2022: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, the global sleep apnea devices market is anticipated to attain around USD 7.9 billion in revenue by 2022. High prevalence of respiratory diseases, growing geriatric population, and rapid technological advancements are expected to drive the global market.

According to a report published by Grand View Research, Inc.; the global sleep apnea devices market is anticipated to attain around USD 7.9 billion in revenue by 2022. High prevalence of respiratory diseases, growing geriatric population, and rapid technological advancements are expected to drive the global market. Developments in portable Positive Airway pressure (PAP) devices can further propel the market during the forecast period (2012 to 2022).

As per a report published by the United Nations (UN), in 2012 the global elderly population was around 809.4 million. The report expected it to double by 2050. Prevalence of sleep disorders increases with age. For instance, apnea is a common condition during old age due to the increased comorbidities. Obstructive Sleep Apnea (OSA) reduces the size of upper airway lumen due to growing age. This is one of the major factors driving the global market for sleep apnea devices.

The disorders such as asthma, and Chronic Obstructive Pulmonary Disease (COPD) among others are the major contributors for the growth in the cases of OSA. Rising air pollution levels, obesity, and other lifestyle related factors like smoking and substance abuse can also lead to OSA. Sleep apnea may remain undiagnosed in most cases due to lack of awareness and non-specific presentation of the illness. Therefore, rising requirement for efficient diagnosis and treatment of apnea may boost the market growth during the forecast period.

Full Research Report On Sleep Apnea Devices Market Analysis:

U.S. sleep apnea devices market, by therapeutic products, 2012-2022 (USD million)

The sleep apnea can also increase the risk of other associated diseases such as high blood pressure, diabetes, heart diseases, depression, systemic hypertension, strokes, and abnormal glucose metabolism among others. Rising incidence of such health conditions can increase the overall healthcare expenditure. Government initiatives to reduce the economic burden and to drive the awareness can impel the market. Rising awareness about prolonged effects of sleep apnea can positively drive the market in the forthcoming years.

The worldwide sleep apnea devices market can be segmented on the basis of product and regions. As per product, the market can be categorized into diagnostic devices and therapeutic devices. In 2014, the diagnostics devices segment held the largest revenue share of around 52.8%. Growing demand for early diagnosis and steady rise in patient awareness are likely to drive the expansion over the forecast period. The therapeutic devices segment is expected to grow at nearly 9.2% in terms of revenue and at around 10.7% CAGR on account of volume over the estimated period.

Geographically, the market for sleep apnea devices can be divided into North America, Europe, Asia Pacific, and Rest of the World (RoW). In 2014, North America held the largest revenue share of over 38.9%. Factors such as large patient pool, established healthcare infrastructure, better reimbursement policy, and presence of established market participants are the major regional market drivers. Increasing concerns regarding sleep apnea have increased the demand for sleep tests in the U.S. Easy availability of diagnostic and therapeutic devices and technological advancements can also boost the market further.

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Global sleep apnea devices market share, by region, 2015 (%)

In 2014, Europe held the second largest revenue share of the overall sleep apnea market. France dominated the regional market with around 31.2% share. Over the forecast period, Germany is likely to showcase rapid growth at a CAGR of 8.0%. The region is one of the rewarding markets for the device manufactures due to well-organized healthcare infrastructure and high awareness among end-users. Favorable reimbursement policies in various countries is also anticipated to propel the regional market.

Asia Pacific is likely to showcase rapid growth at around CAGR of 8.8% during the forecast period. This growth can be accredited to growing old age population, high prevalence of target disease, failing life style and sleep patterns. In addition, growing awareness regarding sleep disorders and development of advanced sleep testing labs and facilities can further boost the product adoption over the forecast period. Developing countries like India are poised to observe the fastest growth in near future on account of rising population and healthcare expenditure.

Key players operating in the sleep apnea devices market include ImThera Medical Inc.; Compumedics Limited; Curative Medical Inc.; Phillips Healthcare; and GE Healthcare. The market looks extremely competitive due to the presence of strict regulations for sleep apnea device manufacturers. This may act as a barrier for the new entrants. The participants in the market are mainly focusing on expanding their global presence and catering to their expanding customer base by developing innovative and efficient products.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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