The sleep apnea devices market is forecast to more than double its increase from 2011 when the market was estimated to be worth $7.96 billion, to hit a market value of $19.72 billion by 2017.
The sleep apnea diagnostic devices market is forecast to grow at a compound annual growth rate (CAGR) of 15% through to 2017, with the sleep apnea therapeutic devices market predicted to grow at a CAGR of 17% over the same period.
The diagnostic devices market will be driven by polysomnography (PSG) devices, particularly clinical PSG devices, while the therapeutic devices market is set to be fuelled by Positive Airway Pressure (PAP) devices, as these are considered to be the first line of treatment for sleep apnea and hence are the most prescribed by sleep specialists.
The sleep apnea devices market is dominated by North America, followed by Europe, Asia, and Rest of the World (RoW). The Asian region's contribution to the global sleep apnea devices market is expected to pick up in the coming years as the medical condition gets more recognition from both patients and the medical fraternity alike.
Obstructive sleep apnea, the most common type of sleep apnea, is potentially a lucrative market to chase with 84% of sleep apnea patients being diagnosed with the condition. Globally, 100 million people are thought to have the condition, with an overwhelming 80% of them remaining undiagnosed.
For more information on the sleep apnea devices market, see the latest research: Sleep Apnea Devices Market Report
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