With Sleep Apnea Incidences on the rise, Global Sleep Apnea Therapeutics and Diagnostics Market to record Substantial Growth
According to Inkwood Research, the Global Sleep Apnea Therapeutics and Diagnostics Market is projected to record a CAGR of 6.78% in terms of revenue during the forecasting years of 2021-2028.
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Sleep apnea is a sleep disorder wherein breathing stops and
starts intermittently. The primary types of sleep apnea include complex sleep
apnea syndrome, central sleep apnea, and obstructive sleep apnea. The symptoms
include morning headache, irritability, loud snoring, waking up with a dry
mouth, restless sleep, etc.
Incidences
of Sleep Apnea Drive Market Growth
Among the three types of sleep apnea, the most common form
is obstructive, also known as OSA, caused by lifestyle changes. As per the
Sleep Apnea Organization, over 22 million Americans had sleep apnea in 2017,
with 80% of moderate to severe sleep apnea cases undiagnosed. Also, more than
100 million across the globe have sleep apnea. It impacts almost 3-7% of men
and 2-5% of women, with statistics projecting how 1 in 5 adults suffers from a breathing
disorder.
Sleep apnea can impact any age group. However, the National
Sleep Foundation statistics show that it occurs mostly in the population aged 55-60.
Obstructive sleep apnea affects 2% of children and 6% of adults. As per the
Sleep Judge stats, almost 40% of people with OSA are likely to have diabetes.
It has also been linked to insulin resistance. It mostly affects obese people
along with Type 2 diabetes.
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Fastest
Growing End-User: Hospitals & Sleep Laboratories
Sleep laboratories are specialized clinics where sleep
studies are conducted to diagnose sleep apnea. In addition, the laboratories
also provide services like teleconsultations, in-lab titration of PAP devices,
and clinic consultations. Also, with the growing prevalence of sleep apnea,
several hospital systems like UNC School of Medicine (US), and All India
Institute of Medical Sciences (India), and USA Health (US) have included a
sleep medicine division that conducts sleep studies.
Fastest
Growing Region: Asia-Pacific
The OSA diagnosis rate in densely populated countries like
China and India is less than 1% in the Asia-Pacific. The prevalence of several
mental health disorders and rising occupational stress increases the risk of
sleep disorders. The other factors influencing the market growth include the growing
geriatric population, increasing healthcare expenditure, and technological
advancements.s
The competitive rivalry is moderately high, with existing
players competing based on product innovations and technology. Medtronic Plc, Fisher
& Paykel Healthcare Corporation Limited, GE Healthcare, Cadwell Industries
Inc, Smiths Medical Inc, etc., are among the main market players.
About Inkwood Research
Inkwood Research specializes in syndicated & customized
research reports and consulting services. Market intelligence studies with
relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle
East, Europe, Asia, and Africa.
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