Increasing use of oral appliances, availability of wide range of diagnostic and therapeutic devices for sleep apnea are major factors driving the growth of the sleep apnea devices market during the forecast period. Additionally, favorable reimbursement policies for CPAP devices in developed regions such as Europe also fuels the market growth. In Germany, nearly 60% of CPAP treatment costs are reimbursed with the patient paying a small amount out of pocket.
The market for sleep apnea devices has witnessed remarkable growth opportunities in North America. Factors such as increasing focus of market players in the US and Canada, new product developments by key players in the market and rising prevalence of sleep apnea in the US is likely to boost the growth of Sleep Apnea Devices market in North America.
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The market for sleep apnea devices consists of well-recognized organizations as well as emerging companies namely; RedMed, Koninklijke Philips N.V., Fisher & Paykel, Braebon Medical Corporation, Compumedics Limited, BMC Medical Co., Ltd., Fisher & Paykel Healthcare Limited, SomnoMed Limited, Weinmann Emergency Medical Technology GmbH + CO. KG, Devilbiss Healthcare LLC and others.
Increasing Use of Oral Appliances is Anticipated to Soar the Growth of Sleep Apnea Devices Market from 2018 to 2025.
The growth of sleep apnea devices market is attributed to the increased usage of oral device. Additionally, technological developments increase the market growth. For instance, in May 2017, Fisher & Paykel launched the advanced F&P SleepStyle CPAP Device which are developed for the usage in the diagnosis and treatment of sleep specialists and obstructive sleep apnea or OSA patients. Additionally, rising geriatric population is another factor driving the growth of the market.
Sleep apnea is a disorder resulting into loud snoring, which consists of three types namely obstructive sleep apnea, central sleep apnea and complex sleep apnea syndrome. The symptoms of sleep apnea are loud snoring, variations in breathing, awaking in between of sleep, lack of attention, excess of daytime sleep, irritability and lack of sleep during night. Nasal congestion, over-weight, being older, circumference of neck, narrowed airway, habit of constant smoking and drinking, family history are various risk factors for sleep apnea.
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Globally, sleep apnea market exhibits potential growth in developed as well as developing regions across the globe. Further, rising prevalence of sleep apnea among adults determines the market growth. Also, the prevalence of sleep apnea is found to be increasing among the adults as well as children, across the globe. As per the American Sleep Apnea Association, in 2017, 22 million Americans suffer from sleep apnea. Another factor driving the market growth is increasing demand for Positive Airway Pressure (PAP) devices due to rising awareness about sleep disorders among the general population and availability of wide range of products in the market. However, the market is retrained by various factors such as absence of patient compliance.
The sleep apnea devices market is segmented on the basis of diagnostics devices, therapeutic devices and end-users. Based on diagnostic devices, global sleep apnea devices market is segmented as polysomnography devices, respiratory polygraphs, actigraphy systems and single-channel screening devices (Oximeters). Among the therapeutic devices, the polysomnography devices segment has largest market share among the diagnostics devices segment. Polysomnography device are most widely used for the diagnosis of sleep apnea and companies are engaged in new product development to achieve growth in the sleep apnea devices market.
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