The Global Market for Sleep Apnea Diagnostic and Therapeutic Devices is Projected to Reach US$9.6 Billion by 2024

Rising Incidence of Sleep-Related Disorders and Technological Advancements Drive the Global Market for Sleep Apnea Diagnostic & Therapeutic Devices, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Sleep Apnea Diagnostic and Therapeutic Devices markets. The global market for Sleep Apnea Diagnostic and Therapeutic Devices is projected to reach US$9.6 billion by 2024, driven by increasing incidence of sleep-related disorders, growing geriatric population, and technological advancements. Growing prevalence of co-morbid conditions, such as obesity, type-II diabetes, hypertension, and cardiovascular diseases; and reimbursement policies are the other growth drivers.

The global market for sleep apnea diagnostic and therapeutic devices is forecast to register a healthy growth rate. Technological advancements, rising geriatric population, and increasing incidence of sleep-related disorders, including Obstructive Sleep Apnea (OSA), are driving the market for sleep apnea diagnostic and therapeutic devices. The demand for sleep apnea devices is also likely to be fueled by growing prevalence of co-morbid conditions, such as obesity, type-II diabetes, hypertension, and cardiovascular diseases. Existing reimbursement policies towards sleep disorders, including Medicare and Medicaid coverage for oral appliances, are expected to fuel the market further. Ongoing efforts by companies to develop advanced devices that are user-friendly and offer patient comfort and safety are likely to propel the global demand for sleep apnea devices. Manufacturers of these devices are also looking forward to tap lucrative opportunities across emerging economies. Moreover, various companies are working in association with laboratories, healthcare facilities, and distributors to increase patient awareness about the condition, and the available diagnostic and therapeutic options.

Polysomnography (PSG) devices are anticipated to provide lucrative growth opportunities owing to the development of sophisticated products. On the other hand, actigraphy devices represent the fastest growing category on account of their enhanced sensitivity, cost-effectiveness, and high usage rates. Perceived as a gold standard for treating sleep apnea, positive airway pressure (PAP) devices are designed to ensure normal breathing patterns during sleep. Oral appliances are however anticipated to exhibit notable penetration on account of the key issues associated with CPAP devices addressed by them.

As stated by the new market research report on Sleep Apnea Diagnostic and Therapeutic Devices, the United States dominates the global sleep apnea diagnostic and therapeutic devices market. Growing prevalence, along with the pressing need for diagnosis as well as treatment of sleep apnea is promoting growth of the US market. Asia-Pacific is expected to register the fastest growth, due to the large base of undiagnosed sleep apnea patients globally.  Increasing number of sleep clinics in the region, development of affordable devices, and improving healthcare awareness are the other growth propellers.

Key players in the market include Cadwell Laboratories Inc., Cleveland Medical Devices Inc., Compumedics Ltd., DeVilbiss Healthcare, Fisher & Paykel Healthcare Ltd.,  Itamar Medical Ltd., Natus Medical Inc., Philips Healthcare, ResMed Inc., Teleflex Inc., Löwenstein Medical Technology GmbH + Co. KG, Vyaire Medical Inc., among others.

The research report titled “Sleep Apnea Diagnostic and Therapeutic Devices: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in thousand dollars for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, and Rest of Latin America). Product Segments analyzed in the report include Diagnostic Devices and Therapeutic Devices.

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