WALTHAM, Mass., Nov. 16 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, policy changes made by the Center for Medicare and Medicaid Services (CMS) will cause a surge in obstructive sleep apnea (OSA) diagnostic testing and treatment. MRG's new US Market Opportunities for Respiratory and Sleep Management Devices 2010 report finds that increasing reimbursement opportunities for OSA diagnosis and treatment will drive the OSA market to $1.5 billion by 2014.
CMS recognizes that 80% of OSA patients in the US currently remain undiagnosed and is establishing policies to make treatment of OSA symptoms more convenient for patients. Prior to 2009, OSA could only be diagnosed by polysomnography. Reimbursement for therapeutic OSA devices--such as continuous positive airway pressure machines--was only provided if the polysomnography was performed in a facility-based sleep study laboratory. CMS's 2009 Physician Fee Schedule now extends coverage to diagnoses made with home sleep test systems, as long as the provider of the home sleep test device does not also have a financial interest in selling devices used for OSA treatment.
"This change is expected to significantly expand the amount of people getting tested for OSA and receiving treatment," says Ravindra Sharma, Senior Analyst at MRG. "If people can be tested for OSA in the comfort of their own home, they will likely choose that option over an overnight lab stay. Additionally, this change in reimbursement will also result in significant savings for CMS because home sleep tests cost a fraction of in-lab polysomnographies. As a result, demand for therapeutic OSA devices will be very high through 2014."
MRG's new report, US Market Opportunities for Respiratory and Sleep Management Devices 2010, provides critical insight into emerging trends that will fuel market growth for therapeutic OSA devices, ventilators, oxygen therapy, and sleep diagnostic systems through 2014. The report provides a complete breakdown of unit sales, average selling prices, and revenues by device type. Further detail is provided in a thorough examination of trends caused by government policies such as CMS reimbursement. This report includes five-year forecasts, up-to-date market shares, and in-depth qualitative insights.
Members of the media are welcome to attend our upcoming webinar on reimbursement in the sleep management device market. This webinar will be held on Wednesday, December 16, 2009 at 11 a.m. U.S. Eastern Time. For more information, please contact Amy Krohn at 416-364-7776 ext. 101 or by email at firstname.lastname@example.org.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResourcesInc.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack(TM) projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.
About Decision Resources, Inc.
Decision Resources, Inc. 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, Inc. at www.DecisionResourcesInc.com.
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For more information, contact: Amy Krohn Millennium Research Group 416-364-7776 ext. 101 email@example.com Elizabeth Marshall Decision Resources Inc. 781-296-2563 firstname.lastname@example.org
SOURCE Millennium Research Group
|SOURCE Millennium Research Group|
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