MOUNTAIN VIEW, Calif., April 29 The U.S. market for sleep apnea diagnostic and therapeutic devices is rapidly expanding and attempts to address a patient population that is becoming increasingly diverse. Even with the economic challenges within the healthcare market over the past 18 months, this segment of the industry has remained resilient.
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Multiple variables influence success in this market, and the competitive advantage has not always been centered on technology. New product designs are launched at a feverish pace, and success is based on possession of a broad product line and established sales channels. Competitive advantages based on technology have historically been quickly matched or overcome by competitors.
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Frost & Sullivan (www.patientmonitoring.frost.com) finds U.S. revenues in the sleep apnea diagnostic and therapeutic devices market totaled approximately $1.35 billion in 2008, with a 16.2 percent growth rate. Revenues expect to increase within the next few years due to the expansion of the installed base and increased awareness in obstructive sleep apnea, after which growth is likely to moderately stabilize. Also included are further breakouts within the diagnostic and therapeutic markets containing revenues, units, and resulting growth rates forecasting through 2015.
The largest factors for growth in this market are the expanding number of sleep apnea product users, the evolving patient mix, increasing obesity trends, greater awareness and appreciation for the benefits of sleep apnea treatment, and a steady growth of sleep service providers.
"The patient population for this segment of the market is becoming more diverse as its use and acceptability expands," notes Frost & Sullivan Research Analyst Gary Burk. "Preparation and proper planning to navigate the future landscape of this environment will directly compete with future cutting-edge technology."
The greatest restraints in this market include a high degree of competition, the ever-evolving competitive bidding and reimbursement process, the future of healthcare reform, and patient compliance.
"As with any rapidly expanding market, the ability to address and navigate these challenges will not ensure success or guarantee profitability," continues Burk.
If you are interested in more information on this study, please send an e-mail to Johanna Haynes, Corporate Communications, at [email protected], with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country.
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U.S. Sleep Apnea Diagnostic and Therapeutic Devices Markets
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Contact: Johanna Haynes Corporate Communications - North America P: 210.247.3870 F: 210.348.1003 E: [email protected]
SOURCE Frost & Sullivan
