01-11-2019 08:48 PM CET - Business, Economy, Finances, Banking & Insurance

Sleep Apnea Devices Market Detail Analysis focusing on Key Players like Braebon Medical, Philips, GE Healthcare, ResMed, Compumedics, Carefusion, Invacare, Paykel Healthcare, BMC Medical, Cadwell Laboratories, Itamar Medical, Curative Medical and ImThera

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Sleep Apnea Devices market will reach USD 9.5 Billion by 2024; as per a new research report by Global Market Insights, Inc.

Availability of insurance coverage for treatment of variety of sleep disorders is predicted to propel sleep apnea devices market growth over forecast timeframe. Medicaid and Medicare cover the cost of oral appliances in most of the cases, if records are maintained properly. However, the coverage varies from one service provider to another and from one region to another.

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Prevalence of sleep disorders is rising steadily from past few years. As per American Sleep Apnea Association, around 22 million people in U.S. suffers from sleep apnea. Moreover 80% of the cases of obstructive sleep apnea are undiagnosed. Increasing prevalence of sleep related disorders will stimulated the demand for sleep apnea devices in forthcoming years.

However, lack of adherence to sleep apnea treatment coupled with dearth of well researched sleep laboratories and trailed professional in emerging economies will impede the industry growth to some extent.

Therapeutic product segment dominated industry in 2016 and is forecasted to witness robust growth in foreseeable future. Increasing demand for positive airway pressure (pap) device, adaptive servo-ventilation (ASV), and oral appliances to treat different sleep related diseases will propel the segment growth.

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North America dominated global sleep apnea devices market in 2016 due to high prevalence of sleep apnea and related diseases, increased accessibility to healthcare services and presence of technologically advanced sleep apnea products. U.S. accounted for majority of revenue share in North America region. Moreover, presence of favorable reimbursement policies in the region will propel the regional growth.

Japan dominated Asia Pacific sleep apnea devices market in 2016 and trend is likely to continue in forthcoming years. The aging demographics vulnerable to sleep related disorders, availability of new and advanced sleep apnea devices and elevated levels of accessibility to healthcare services will fuel Japanese sleep apnea devices market growth over forecast period.

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Some of the players operating in sleep apnea industry are Braebon Medical, Philips, GE Healthcare, ResMed, Compumedics, Carefusion, Invacare, Paykel Healthcare, BMC Medical, Cadwell Laboratories, Itamar Medical, Curative Medical and ImThera Medical.

Major industry players are increasing their focus on launch of new and technologically advanced products. For instance, in August 2016, Fisher & Paykel Healthcare launched F & P Brevida nasal pillow mask for treatment of obstructive sleep apnea.

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