Sleep Apnea Diagnostic Devices Market is Projected to Record at 7.8% CAGR during 2013-2019

A new Transparency Market Research report states that the sleep apnea diagnostic and therapeutic devices market stood at US$3.8 bn in 2012 and is predicted to reach US$6.4 bn by 2019. It is expected to expand at a CAGR of 7.80% from 2013 to 2019. The title of the report is “Sleep Apnea Diagnostic and Therapeutic Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”.

As per the report, the prime factors stimulating the market for sleep apnea diagnostic and therapeutic devices are the ongoing product advancements, the rising awareness on sleep apnea amongst people, and the continuous product modifications carried on by prime players. These prime players have also taken various steps to manufacture cutting-edge sleep apnea devices offering comfort, compactness, and ease of use.

In addition, the swift growth of the medical industry is also raising the growth prospects of the sleep apnea diagnostic and therapeutic devices market. On the other hand, factors such as the soaring cost of diagnostic procedures and high discomfort levels are amongst the prime factors that may restrain the growth of the market in the coming years.

On the basis of diagnostic device, the market is segmented into polysomnography (PSG) devices, actigraphy systems, single-channel screening devices (pulse oximeters), and respiratory polygraphs. Amongst these, the segment of actigraphy devices is expected to expand at the highest CAGR – more than 7% – and will be trailed by respiratory polygraphs in the forecast horizon. The reason for the dominance of this segment is the small and compact size of these devices and their ability to support home testing with precision. Furthermore, the swift technological advances and rising preference for compact and portable devices will further augment the development of this segment.

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In terms of therapeutic device, the market is segmented into adaptive servo-ventilation, airway clearance systems, positive airway pressure (PAP) devices, oxygen devices, oral appliances, and others. Amongst these, the segments of oral appliances and positive airway pressure (PAP) will register the highest growth rates in the forecast horizon. This is owing to customized devices being made as per patient compliance and symptoms within these two segments.

On the basis of geography, the sleep apnea diagnostic and therapeutic devices market is segmented into Europe, Asia Pacific, North America, and Rest of the World (RoW). Amongst these, Europe and North America led the market and held the biggest share of over 60% in the market.

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The reason for the dominance of these regions is the presence of adept specialists, rising awareness on sleep apnea and cutting-edge sophisticated sleep laboratories in the region. Moreover, favorable reimbursements and the high rates of obesity will further augment the adoption of sleep apnea devices. On the other hand, regions such as Asia Pacific and RoW are predicted to register limited growth rates owing to the dearth of sophisticated healthcare infrastructure and absence of awareness amongst people.

As per the report, the key players dominant in the market are ResMed, Inc., CareFusion Corporation, Philips Healthcare (Respironics), GE Healthcare, and Fisher & Paykel Healthcare, among others.

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