Meticulous Research

The name of our company defines our services, strengths, and values. Since the inception, we have endeavoured to research, analyze and present the critical market data with great attention to details.

  • 14-Oct-2020

Home healthcare has become one of the integral parts of healthcare systems in recent decades, keeping the elderly safe at home while offering healthcare services such as hospitals. Considering this, the demand for home healthcare facilities and home-care products has increased in recent years. The scarcity of qualified staff and better clinical and specialized home-care services, and the growing focus of private equity firms on home-healthcare facilities are also driving the demand for home-care products that not only satisfy the patients’ needs but also help in reducing the overall healthcare cost, as home care generally needs fewer trips to doctors and hospitals.

The use of home-care sleep apnea devices has increased across the globe in the last few years. The increasing adoption of home sleep apnea devices is mainly attributed to the growing sales of sleep apnea devices by manufacturers through home-healthcare dealers, along with the rising use of therapeutic devices, related accessories, and home sleep-testing products by existing and new sleep apnea patients in home-care settings or at patients’ residences. The growing prevalence of sleep apnea, rising awareness about sleep apnea and related treatment availability, easy accessibility to home-care sleep apnea products, changing consumer preference regarding technology, and rising insurance coverage for home-care sleep apnea products is expected to support the growth of this segment.

Moreover, the increasing rate of urbanization, rising disposable income levels in emerging countries, and the cost-effectiveness of home sleep apnea testing compared to in-laboratory/clinical sleep apnea testing further propels the demand for home sleep apnea testing devices.

In recent years, consumer preference has changed with the availability of advanced home-care sleep apnea devices. According to a survey from the investment bank, Needham & Company, nearly one-third of obstructive sleep apnea tests were performed at the patients’ homes rather than in labs in 2018, which was merely 15% in 2013. Companies are, therefore, focused on the development of home-care sleep apnea devices. For instance, in June 2019, Itamar Medical, an Israel-based company, received FDA approval for a disposable home sleep apnea test. ResApp (Australia), a smartphone apps development company for the diagnosis and management of respiratory diseases, announced its plans to launch SleepCheck, an at-home obstructive sleep apnea (OSA)-screening app.

Many favorable reimbursement coverages under policies for home-care sleep apnea devices in developed countries have been witnessed in recent years, driving the adoption of these products. For instance, according to ResMed Inc., as of 2019, home sleep testing was covered under the reimbursement policy by Aetna, Anthem, Cigna, Humana, and United in some form with varying restrictions. Medicare also has specific criteria for sleep apnea devices in homecare settings, which vary from state to state in the U.S. Moreover, in December 2017, NightBalance (Philips) (the Netherlands) also received a positive recommendation from the Dutch National Health Care Institute (ZIN) to include its sleep apnea therapy for reimbursement.

Thus, the growing demand for home-care sleep apnea products from home-care settings and individuals at home has proved to be a boon for the global sleep apnea market. The global sleep apnea market is expected to reach 12,875.0 million by 2027, at a CAGR of 10.3% during the forecast period, 2020 to 2027, according to a recent report by Meticulous Research.

Meticulous Research’s Repository for Home Healthcare Products Industry Include:

Sleep Apnea Devices Market by Type (Therapeutic Devices (CPAP, APAP, BPAP, ASV, Oral Appliances, Masks)), Diagnostic Devices (PSG, Oximeter, Home Sleep Testing Devices), End User (Hospitals and Sleep Labs, Home Care Settings/Individuals) - Global Forecast to 2027

https://www.meticulousresearch.com/product/sleep-apnea-devices-market-5095/

Ventilators Market by Product (Instruments, Accessories), Mobility (Intensive Care, Portable), Interface (Invasive, Non-invasive), Age Group (Adult, Pediatric), Mode (Volume, Pressure, Dual), End User (Hospital, ASCs, Home Care) – Global Forecast to 2027

https://www.meticulousresearch.com/product/ventilators-market-5093/

Home Healthcare Market- Global Forecast (2016-2022)

https://www.meticulousresearch.com/product/home-healthcare-market-global-forecast-to-2022/

Latin American Home Medical Equipment Market: Outlook (2016-2022)

https://www.meticulousresearch.com/product/latin-american-home-medical-equipment-market-outlook2016-2022/

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