The healthcare industry has observed a paradigm shift from primary focus on diseases with trauma factors to addressing medical conditions such as sleep apnea. Sleep apnea is a sleep disorder that is characterized by abnormal pauses in breathing or instances of abnormally low breathing during sleep. Presently, there are three essential forms of sleep apnea, namely Central Sleep Apnea (CSA), Obstructive Sleep Apnea (OSA), and complex/mixed sleep apnea, which constituted 0.4%, 84.0%, and 15.0% respectively of the total sleep apnea market. Sleep apnea is an under-recognized and under-diagnosed medical condition, with a myriad of negative consequences on a patient’s health. The sleep apnea devices market is a relatively new market in the medical field, gaining momentum at a fast pace, especially in developed countries such as the U.S. and the U.K.
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The sleep apnea devices market is highly competitive with a large number of companies striving for dominance in the market. There are few major companies operating in this market and holding majority of the market share, along with other small players operating in the market. The companies have resorted to innovation as a strategy to grow in this market. It is evident by the number of new and innovative products being developed and launched into the market. From 2009 to 2014, it has been observed that new product development was the strategy adopted by 63% of the companies operating in this market. Collaborations, partnerships, agreements, and joint ventures together accounted for 11%, followed by mergers & acquisitions with 7% of the market share. Other developments, such as product-related regulatory approvals, establishment of sales subsidiaries, gaining CE approvals, IDE (Investigational Device Exemption) approvals, and gaining marketing and sells certifications, have accounted for 19% of the market share. Companies such as Philips Respironics, ResMed, and Weinmann Medical Devices GmbH & Co. are aggressive in terms of developing new and innovative products & offerings to the customers.
Companies have also resorted to mergers & acquisitions as a strategy to gain competitive advantages over the competitors in the market. In line with its expansion strategy, ResMed acquired Umbian, Inc. in August 2012. The acquisition helped ResMed enhance its product portfolio of CPAP devices. Philips Respironics acquired MedSage Technologies, a leading management application and patient interaction firm. The acquisition helped Philips Respironics to provide web-based solutions to its customers for management of obstructive sleep apnea.
As of 2014, North America holds the largest share of the global sleep apnea devices market, followed by Europe, Asia, and the Rest of the World (RoW). This is attributed to the high prevalence of obstructive sleep apnea, increasing side-effects of urban lifestyle (such as obesity, diabetes, and anxiety), and technological advancements in sleep apnea treatment. As per National Sleep Foundation, approximately 40 million Americans were estimated to be suffering from chronic sleep disorders. Europe accounted for the second-largest market in the global sleep apnea devices market due to the factors such as increasing usage of therapeutic sleep apnea devices in this region, rising prevalence of cardiology disorders, and increasing research and usage of sleep apnea devices.
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The report also provides a detailed competitive landscaping of companies operating in this market. Segment and country-specific company shares, news & deals, M&As, and segment-specific pipeline products, product approvals, and product recalls of the major companies have been detailed in the report. The main companies operating in this market are Philips Respironics, a subsidiary of Philips Healthcare (Netherlands); ResMed (U.S.); Compumedics Limited (Australia); Carefusion Corporation (U.S.); Curative Medical, Inc. (U.S.); BMC Medical Co., Ltd. (China); Natus Medical Incorporated (U.S.); Fisher and Paykel Healthcare, Ltd. (New Zealand); DeVilbiss Healthcare (U.S.); Global Medical Holdings, LLC (U.S.); Itamar Medical, Ltd. (U.S.); and Weinmann Medical Devices GmbH & Co. KG (Germany), among others.
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