Dallas, TX, March 27, 2016 --(PR.com
)-- The continuous growing sleep apnea patient base is a pivotal factor that drives the sleep apnea device market. About 4% of men and 2% of women suffer from OSA. Due to incessantly rising obesity and the association of morbidities such as drug-resistant hypertension, congestive heart failure, Type 2 diabetes, stroke, etc., the sleep apnea patient pool is likely to grow in the near future. The prevalence of sleep apnea is as high as 70% in obese people and OSA becomes more severe with increasing obesity. Studies show that 30% to 50% of the patients with a heart disease have OSA; nearly 60% of stroke patients suffer from the disease.
Due to changing lifestyles, the obese population and incidences of cardio-vascular diseases is on the rise, which in turn is likely to expand the sleep apnea patient pool. As per the Centers for Disease Control and Prevention (CDC), 36% of the U.S. adults were obese in 2010 and nearly 42% will be obese by 2030. This dramatic increase in the obesity epidemic is likely to add to the pool of sleep apnea patients. Increasing awareness with regards to hypertension, stroke, Type II diabetes/adult onset diabetes, and cardiovascular diseases, along with their association with sleep apnea, is likely to fuel the sleep apnea diagnosis as well as treatment patterns in the near future.
According to the American Academy of Sleep Medicine, the number of accredited sleep labs that test for sleep disorder has quadrupled in the past decade. Over prescription of overnight tests to diagnose apnea has also contributed significantly in escalating the growth of the U.S. sleep apnea diagnostic devices market.
The gradually increasing awareness with regards to sleep apnea and available diagnostic/therapeutic options is another significant factor that is slated to increase the growth of this market. Rising alertness of the benefits of these treatments and risks associated with sleep apnea has managed to educate the stakeholders. Riding on the efforts of sleep apnea device manufacturers, awareness levels among primary care givers, sleep specialists, and patients is gradually rising. Various firms and organizations are engaging themselves in social awareness campaigns and educational workshops to increase the awareness of the disease among physicians and the general public.
The market is segmented into product type diagnostic and treatment devices. In 2016 the treatment devices segment is expected to dominate the market. Due to the excessive usage of sleep apnea devices in treatment home healthcare leads in the end-users of these devices.
Based on geography the North America sleep apnea devices market is segmented into 3 countries U.S., Canada, Mexico. U.S. is expected to dominate the market followed by Canada. U.S. is also expected to grow at the highest CAGR owing to the increasing trend of awareness of sleep treatment and favorable reimbursement scenarios.
Technological advancements in both diagnostic and therapeutic devices have resulted in cost-effective devices, which have in turn ensured an increased adoption of sleep apnea devices. Well-established firms such as Philips Respironics (The Netherlands) and ResMed (U.S.), along with several sleep service providers and hospitals are actively engaged in creating awareness for sleep apnea. For example, a sleep apnea awareness campaign was arranged at Minneapolis in June 2012, wherein Sleep Group Solutions, Inc. a sleep medicine company, offered 50 free home tests to the city’s residents.
Earlier, in May 2010, Philips Respironics (The Netherlands) launched a sleep apnea website-‘Partners in Training’-which empowers healthcare providers and physicians with the medical knowledge and clinical skills required to manage sleep apnea. These awareness initiatives undertaken by stakeholders are likely to increase the demand and adoption of sleep apnea diagnostic and therapeutic devices in the near future. In-depth profiling of key players have been conducted along with their recent developments (new product launches and partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their position in the North American sleep apnea devices market.
The North America sleep apnea devices market report contains an in-depth profiling of the key market players, along with the recent developments (New product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market. Philips Respironics, a subsidiary of Philips Healthcare; ResMed; Fisher and Paykel Healthcare, Ltd. (New Zealand); Compumedics Limited (Australia), Carefusion Corporation (U.S.), Curative Medical, Inc., BMC Medical Co., Ltd., Natus Medical Incorporated, Fisher and Paykel Healthcare, Ltd., DeVilbiss Healthcare, Global Medical Holdings, LLC, Itamar Medical, Ltd., and Weinmann Medical Devices GmbH & Co. KG, among others, are some of the key players engaged in this market.