Sleep Apnea Diagnostic Systems Market

2021 Analysis and Review: Sleep Apnea Diagnostic Systems Market by End Use – Home Care Settings, Hospitals, and Sleep Centers and Clinics for 2021 – 2031

Sleep Apnea Diagnostic Systems Market Snapshot

As per Future Market Insight’s (FMI) study, the global sleep apnea diagnostic systems market registered healthy year-on-year (YoY) growth at 7.30% in 2020-21. The market is expected to top a valuation of US$ 4267.2 Bn in 2021.

Koninklijke Philips N.V., ResMed Inc., Becton, Dickinson and Company, Natus Medical Incorporated, and MGC Diagnostics Corporation are the leading players in the market. As per FMI, they are expected to contribute nearly 80-85% of revenue share in the market in 2021.

Key Points Covered in Sleep Apnea Diagnostic Systems Market Study

  • Market estimates and forecast 2021-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Sleep Apnea Diagnostic Systems Market and How to Navigate
  • Recommendation on Key Winning Strategies

Sleep Apnea Diagnostic Systems Market Historic Sales Compared to 2021-2031 Forecast Outlook

The sleep apnea diagnostic systems market is mainly driven by increasing cases of sleep disorders and lifestyle disorders such as cardiovascular diseases, diabetes, obesity, and depression.

As per the FMI’s analysis, the global sleep apnea diagnostic systems demand is anticipated to increase at a healthy pace, reaching a valuation of US$ 5.4 Bn during the forecast period of 2021 and 2031.

With healthcare industry tapping into next-generation technologies while assisting the development of advanced oral sleep apnea diagnostic systems, the market is anticipated to gain momentum over the forecast period.

Burgeoning demand for advanced polysomnography (PSG) devices within hospitals and sleep centers will encourage the adoption of PSG devices and sleep apnea diagnostic systems over the coming years.

Other trends that are propelling the growth are rising favorable government initiatives, private organizations increased investment and rising prevalence of cardiovascular diseases and diabetes across the globe.

Lack of awareness about sleep disorder and social stigma related to mental health issues and sleep disorder are likely to limit the growth of sleep apnea diagnostic systems market.

However, with the increasing penetration of advanced technology coupled with the rising cases of undiagnosed and untreated sleep apnea, the demand for sleep apnea diagnostic systems will accelerate over the coming years.

Based on these aforementioned factors, the market has been forecast to exhibit steady growth, registering a CAGR of over 5.73% during the forecast period of 2021 and 2031.

How will Technological Advancements Spur the Adoption of Polysomnography Devices?

Expansion of healthcare industry and rising prevalence of untreated sleep apnea have spurred the adoption of polysomnography (PSG) devices. Rising awareness for mental health issues such as depression, sleep disorders, anxiety, and others have increased the demand for advanced technological medical equipment.

People are getting more conscious regarding their health, and are opting for at-home care settings and advanced medical wearable devices. Growing cases of cardiovascular disease and obesity across the globe also have increased the chances of people developing sleep apnea.

Uneven heart rate, breathing issues, and movement of eyes and legs, major symptoms for sleep apnea. Recent trends suggest that people are preferring wearable advanced sleep apnea diagnostic systems.

Healthcare professionals and scientists have therefore increased their research & development activities for the launch of advanced sleep apnea diagnostic devices. Adoption of artificial intelligence and data science to improve the efficiency and provide real-time data in PSG devices will also boost the demand for sleep apnea diagnostic systems.

Increasing preference for oral sleep apnea devices also have increased the sales of sleep apnea diagnostic systems worldwide. For instance, in February 2021, the U.S. Food and Drug Administration announced the approval of prescription tongue muscle stimulation device that claims to reduce mild obstructive sleep apnea and snoring, called eXciteOSA.

How will Large Pool of Undiagnosed Sleep Apnea Patients Spur Growth?

Lack of awareness regarding the sleep disorders and their side-effects has substantially increased the cases of lifestyle disorders worldwide. Data from American Academy of Sleep Medicine suggests, nearly 936 million people across the globe suffer from sleep apnea and around 425 million of them need treatment.

In 2007, World Health Organization estimated around 100 million people were affected by sleep apnea and the number is increasing since then. With untreated and undiagnosed sleep apnea, the cases are expected to quadruple by 2040.

Cases of obstructive sleep apnea are increasing exponentially in the U.S., as per American Sleep Apnea Association, around 22 million Americans suffer from sleep apnea. Among which, 80% of people are undiagnosed and untreated.

Developing economies with huge population such as India and China have high cases of sleep apnea that are untreated. Thus, expanding pool of sleep apnea patients across the globe is expected to create incremental opportunities for the market players.

Now with modern medicine and rising awareness among people, government and healthcare professionals are actively adopting the polysomnography (PSG) devices for accurate evaluation and diagnoses.

People with obesity and overweight issues have a high potential for sleep disorders such as sleep apnea, insomnia and others. Hence, adoption of sleep apnea diagnostic systems have increased in the hospitals and sleep centers. Thus, in turn, generating lucrative revenues for the key players.

Country-wise Insights

How will the U.S. Sleep Apnea Diagnostic Systems Market Gain Traction?

Rising incidence of sleep disorders such as sleep apnea, sleep walking and others have improved the adoption of sleep apnea diagnostic systems across the U.S. As per Future Market Insights, the U.S. is anticipated to be the most lucrative market during the forecast period.

As cases of cardiovascular diseases, diabetes, and other lifestyle disorders are surging, prevalence of sleep apnea is expected to increase simultaneously. American Sleep Association states, around 50-70 million adults have sleep disorder, among which 25 million Americans have sleep apnea.

Due to the rising burden of various healthcare concerns, adoption of sleep apnea diagnostic systems has surged across the U.S. Favourable government policies, and investments for the development of advanced diagnostic systems will further the adoption over the coming years.

Will the Demand for Sleep Apnea Diagnostic Systems Consistently Rise in China?

According to FMI, the China market is expected to witness impressive growth due the technological advancements in the healthcare sector. Demand for PSG devices is expected to increase in China due to the rising cases of sleep apnea.

Besides this, the incidence of diabetes, anxiety, depression, and others diseases is on the rise, which has increased the risk of sleep disorders in patients. Due to this, the adoption of advanced PSG devices for the diagnosis of sleep apnea has increased across healthcare facilities in China.

What is Supporting Sleep Apnea Diagnostic Systems Sales across Brazil?

Expansion of Brazil healthcare industry, technological advancements, and favorable government initiatives supporting growth of the healthcare sector have presented a conducive environment for sleep apnea diagnostic systems sales.

Rising prevalence of diabetes, obesity, depression, and cardiovascular disease has increased the cases of people with sleep disorders. As per BMC Population Health Metrics, in 2017, prevalence of diabetes in Brazil increased by 30% for males and 27% for females since 1990.

Future projection suggests that the prevalence of diabetes will increase 144% by 2040. Also, with around 54% of Brazil population facing issues with obesity and overweight, cases of depression and sleep disorders are increasing every year, states report of World Health Organization.

Unprecedented outbreak of COVID-19 impacted the mental health of Brazil population negatively in FQ-20. Data from National Center for Biotechnology Information showed that around 40% adults in Brazil were suffering from depression and nearly 52% adults were facing sleep issues.

Due to this, healthcare professionals and government have adopted various initiatives to spread awareness about sleep disorders including sleep apnea. Adoption of sleep diagnostic systems witnessed a sudden surge due to the spike in the cases.

Category-wise Insights

Why are Polysomnography (PSG) Devices Highly Sought-After?

As per Future Market Insights, PSG devices are expected to be the most preferred sleep apnea diagnostic systems during the forecast period. Extensive adoption of PSG devices within hospitals and sleep centers has improved the demand of PSG devices.

Rising prevalence of cardiovascular diseases, diabetes, and other diseases have increased the rate of patients with sleep apnea. As per American Sleep Apnea Association, around 22 million Americans suffer from sleep apnea, among which 80% are the cases of moderate to severe obstructive sleep apnea undiagnosed.

As a result, hospitals and sleep centers are exhibiting high demand for sleep apnea diagnostic systems, especially PSG devices.

Who is the Leading End-User for Sleep Apnea Diagnostic Systems?

Adoption of sleep apnea diagnostic systems is anticipated to remain maximum at sleep centers and clinics during the forecast period. As per Future Market Insights, sleep centers and clinics segment is expected to account for over 27% of global market share.

Due to rising incidence of sleep apnea across the globe, patients prefer sleep centers and clinics as they’re equipped with all the analysis and diagnostic systems. However, shift in preference towards home sleep testing (HST) devices is expected to present new growth opportunities from at home care setting segment over the coming years.

However, FMI projects rapid growth of sleep apnea diagnostic systems market from hospitals, driven by high adoption of these systems for in-lab testing. Also, sleep apnea diagnostic system is anticipated to witness impressive traction at home care settings.

Competitive Landscape

Prominent players operating in sleep apnea diagnostic systems market are focusing on product innovation and introduction to increase their sales. As per FMI, Koninklijke Philips N.V. and ResMed Inc. are the leading players dominating the market.

Leading players will continue to address the unmet needs in the market through inorganic strategies such as mergers and acquisitions. Increasing research & development activities for the development of advanced sleep apnea diagnostic system will provide lucrative opportunities for market players.

  • In June 2021, Itamar Medical, Israeli sleep apnea company announced the expansion of WatchPAT, at-home sleep apnea diagnostic testing line capabilities. The WatchPAT system attaches to a user’s index finger, chest, and wrist to diagnos sleep apnea events of the patient.
  • In February 2021, GoPAPfree, a leading homecare provider of oral appliance therapy for obstructive sleep apnea announced the launch of their new product O2Vent Optima, highly effective and more convenient alternative to CPAP therapy.
  • In November 2020, Sommetrics, a developing products and services company, announced the latest product for sleep apnea, aerSleep II, received the approval from the U.S. Food & Drug Administration (FDA) for the device designation.

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa

Key Segments Covered

Product, End-Use Application, Technology Type, and Region

Key Companies Profiled

  • Koninklijke Philips N.V.
  • Becton, Dickinson and Company
  • Braedon Medical Corporation
  • Advanced Brain Monitoring Inc.
  • SOMNOmedics GmbH
  • ResMed Inc.
  • BMC Medical Co. Ltd.
  • Natus Medical Incorporated
  • MGC Diagnostics Corporation
  • Cleveland Medical Devices Inc.
  • Others

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Questions Answered in the Report

  • What is the current Sleep apnea diagnostic systems market value?

    The Sleep apnea diagnostic systems market is expected to exceed US$ 4276.2 Bn in 2021

  • At what rate did the Sleep Apnea Diagnostic Systems market grow between 2016 and 2020?

    The sleep apnea diagnostic systems market projected healthy growth, registering a CAGR at 7.07% between 2016 and 2020.

  • What are the key trends driving sleep apnea diagnostic systems sales?

    Growing adoption of sleep apnea diagnostic systems within Asian countries and emphasis on training and education to keep up with ever-changing healthcare scenario will drive the sales.

  • Who are the leading players of Sleep apnea diagnostic systems?

    Top 5 prominent players of sleep apnea diagnostic systems market are Koninklijke Philips N.V., ResMed Inc., Becton, Dickinson and Company, Natus Medical Incorporated, and MGC Diagnostics Corporation.

  • What will be the demand outlook for North America Sleep apnea diagnostic systems market?

    North America’s sleep apnea diagnostic systems market demand is set to rise at 5.82% CAGR over the forecast period of 2021 and 2031.

  • What is the market share of leading players in Sleep apnea diagnostic systems market?

    The top 5 players in the sleep apnea diagnostic systems market will collectively account for 80-85% of global market share in the year 2021.

  • At what rate will sleep apnea diagnostic systems demand rise in Europe?

    The sales for sleep apnea diagnostic systems are set to rise at a steady rate of 5.75% across Europe between 2021 and 2031.

  • Which are the top countries driving the Sleep apnea diagnostic systems market sales?

    The U.S., Canada, Germany, China, and France are the key produces of sleep apnea diagnostic systems.

  • What is the current market share of Japan and South Korea in the global Sleep apnea diagnostic systems market?

    In 2021, Japan will account for 8.2% of market share while South Korea will contribute for over 1% in global sleep apnea diagnostic systems market.

Sleep Apnea Diagnostic Systems Market by Category

By Product:

  • Polysomnography (PSG) Devices
    • Ambulatory PSG Monitoring Devices
    • Clinical PSG Monitoring Devices
    • Sleep Apnea Screening Device
  • Nasal Flow Sensors
  • Peripheral Capillary Oxygen Saturation (SPO2)
  • Actigraphy Monitoring Devices

By End-User Type:

  • Home Care Settings
  • Hospitals
  • Sleep Centers & Clinics

By Region:        

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • Asia Pacific excluding Japan
  • Japan
  • Middle East and Africa (MEA)

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Sleep Apnea Diagnostic Systems Market