(I-BusinessNews.Com, December 24, 2019 ) Market Overview
• Sleep Apnea is a respiratory disorder caused due to disruption of breathing during sleeping commonly observed in obesity people and diabetes patients resulting in loud snoring due to blockage of air during breathing. Smoking, alcohol consumption, improper sleeping habits, hereditary, usage of medicines with sedative effects lead to sleep apnea.
• There are three types of sleep apnea namely obstructive sleep apnea, central sleep apnea and mixed sleep apnea. In obstructive sleep apnea throat muscles relax intermittently and blocks the air passage during sleep. Central sleep apnea occurs when human brain stops sending proper signals to the muscles that control breathing and mixed sleep apnea combination of both.
Market Dynamics
• According to WHO in 2016, more than 1.9 billion adults aged above 18 years were overweight and 650 million of them were obese. Hence, owing to increased prevalence of obesity globally, the demand for sleep apnea devices is increasing, leading to growth of the market.
• In addition, advancements in medical technology leading to product innovation in therapeutic and diagnosis devices are boosting the global sleep apnea market. For instance, in October 2018, Mountain View, a California-based company launched Sleep Tuner worn on the forehead, which measures blood oxygenation, heart rate, and sleep position, as well as stopped breathing events.
• Surging geriatric population, improper sleeping habits, increasing awareness about sleep apnea devices and need for efficient diagnosis and treatment of sleep apnea are contributing to the revenue growth.
• However, expensive devices are hampering sleep apnea global sleep apnea device market over the forecast period.
Market Segmentation
• Based on the product type global sleep apnea market is segmented into therapeutic devices and diagnostic devices. Diagnostic devices held the highest market share in 2018 and anticipated to remain same over the forecast period due to increasing demand for early diagnosis. According to NHS in 2018, in UK, admissions with a primary diagnosis of sleep apnea reached 7,557 in 2016-17 from 5,675 in 2012-13.
• According to National Sleep Foundation in 2018, in U.S, 1-4% of children aged between2-8 suffer from obstructive sleep apnea.
• Therapeutic devices are registering robust growth over the forecast period due to increasing patient awareness levels. According to American Sleep Apnea Association in 2018, it is estimated that 22 million Americans suffer from sleep apnea and 26% of adults aged 30-70 years have obstructive sleep apnea. Therapeutic devices are further categorized into PAP devices, facial interfaces, oral appliances, adaptive servo-ventilators and others. PAP devices dominate therapeutic devices segment as they have the facility of adjusting pressure and auto adjustments can be made based on patients need and sleep stage. CPAP, Bi Level PAP, Auto CPAP and ASV are the most common used PAP devices.
Geographical Analysis
• The global Beauty market is segmented into North America, Europe, Asia Pacific, South America and rest of the world.
• North America accounted for the largest market share in 2018 and anticipated to remain dominant over the forecast period. According to Canadian Health Measures in 2017, in Canada, 4% of people aged between18-59 and 12% of people aged between60-79 have sleep apnea. Increase in obesity people, technological advancements and changing patient awareness in countries such as United States, Canada and Mexico are driving sleep apnea market in North America region.
• Europe is estimated to grow at the highest CAGR during the forecast period, due to increasing geriatric population and demand for early diagnosis are boosting sleep apnea device market over the forecast period. According to NHS in 2018, in U.K, the number of tests carried out by the NHS to diagnose people with sleep apnea across U.K has doubled in the past decade. Asia Pacific is also registering fastest CAGR, China with second most obesity people and increasing patient awareness levels in developing countries such as India, Indonesia are surging sleep apnea device market.
Competitive Analysis
• Global sleep apnea market is highly competitive in nature as market has several major players across the world. Technological advancements and product innovations are making global sleep apnea market more competitive. Small and medium companies are increasing their market presence by introducing innovative and new devices. The key players in global sleep apnea market are Philips Healthcare, Cadwell Laboratories Inc., Fisher & Paykel Healthcare Limited, Natus Medical Incorporated, ResMed, Nihon Kohden Corporation, Invacare Corporation, Sleep score, BMC Medical Co.Ltd, ImThera Medical Inc , Curative Medical Inc.
• On March 21, 2019, Itamar Medical launches next-generation WatchPAT system for home sleep apnea testing.
• On October 18, 2018, Beddr launches Sleep Tuner, a forehead-worn sensor for sleep apnea patients.
• On January 8, 2019, Oventus launches new oral device to treat obstructive sleep apnea.
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