Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact firstname.lastname@example.org.
SOURCE Decision Resources Group
Growing Patient Awareness of Obstructive Sleep Apnea Will Be a Strong Driver of the Market, According to Findings from Decision Resources Group
BURLINGTON, Mass., Feb. 19, 2014 /PRNewswire/ -- Decision Resources Group finds that the proportion of undiagnosed patients with obstructive sleep apnea (OSA) is declining as a result of efforts by organizations such as the National Sleep Foundation, which is causing awareness of the condition to rise. In addition, obesity and age are positively correlated with OSA, and these patient groups represent a substantial and growing patient pool. As a result, demand will increase strongly for therapeutic OSA devices as well as the systems used in the diagnosis of OSA.
"Furthermore, OSA diagnosis rates will be supported by the convenience and uptake of home sleep tests (HSTs)," said Decision Resources Group Analyst Felix Lam. "These tests will increasingly be administered by general practitioners, who will then refer patients testing positive to a sleep medicine physician for further diagnosis and treatment. Due to the convenience of these tests compared to traditional sleep lab tests, HST revenues will see double-digit growth through 2022. This will dramatically increase the patient base and drive demand for therapeutic OSA devices, which represent the largest proportion of revenue in the respiratory and sleep management device market."
Although the therapeutic OSA device and sleep diagnostic test markets represent the majority of revenues and growth in the overall market, other segments will also experience growth. The U.S. ventilator market will be driven by the introduction of newer technology and demand for noninvasive machines. The market has also seen a continuing shift toward versatile, universal devices that can fill many roles within a facility. Although these features add value to the devices and are attractive to cost-constrained facilities due to their increased efficiency, the popularity of these systems will reduce the need for separate specialized ventilators to some degree, especially in lower-volume facilities.
In the oxygen therapy device segment, a desire to increase patient mobility will drive robust growth in the portable oxygen concentrator segment through 2022. This emphasis on mobility will also support sales of stationary concentrators with a mobility component, which allow patients to carry small amounts of oxygen with them on trips outside of the home.
Decision Resources Group's US Opportunities for Respiratory and Sleep Management Devices 2014 report includes unit, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for therapeutic OSA devices, ventilators, oxygen therapy devices and sleep diagnostic systems in the United States.
About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.
All company, brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
For more information, contact:
Decision Resources Group
©2012 PR Newswire. All Rights Reserved.