Sleep Apnea Diagnostic System Sales to Exceed US$ 7 Bn by 2029
Evolving lifestyle and the resultant stress have been arguing well for the sleep services industry that has been projected for over 12% growth over the next decade. Sleep apnea continues to be among the most common sleep disorders, with demanding diagnostic procedure. With prevalence of central sleep apnea and obstructive sleep apnea increasing at a considerable rate, the global market for sleep apnea diagnostic system is set for notable growth during 2019 - 2029, surpassing US$ 7 Bn.
Key Factors Shaping the Sleep Apnea Diagnostic System Market
Rise in Adoption Rate due to Technological Advancements
Companies are focused on providing novel and advanced lab testing and portable wearable medical devices to gain competitive advantage in the market. Wearable medical devices are expected to play a major role in monitoring sleep disorders, diabetes, heart disorders, etc. on an individual level. Technology plays an important role in raising the bar for home sleep testing devices by raising the standards of quality and increasing ease of use. This would ultimately increase patient compliance and drive the growth of the sleep apnea diagnostic system market over the forecast period.
Increasing Demand for Home Sleep Testing
In-lab sleep testing is an expensive procedure as compared to home sleep testing. This is inclusive of equipment used for the process and the service charges. These high costs are a major concern for insurance providers as well as to patients. Also, reimbursement companies adopt a more favorable policy towards HST over in-lab testing. Thus, rising demand for equipment and wearable devices used in HST testing in turn is expected to drive the growth of the overall market for sleep apnea diagnostic systems.
Increasing Focus on Polysomnography Testing
Sleep testing service providers are focusing on providing full polysomnography services, which provides comprehensive information about a variety of sleep disorders. This increasing adoption of full polysomnography is expected to boost the growth of the sleep apnea diagnostic system market over the forecast period.
Polysomnography Devices Highly Sought-after in Sleep Apnea Diagnosis
Polysomnography devices remain the most preferred sleep apnea diagnostic system in global market. These devices comprise ambulatory and clinic polysomnography, and help in the diagnosis of sleep apnea by evaluating multiple parameters such as heart rate, breathing rate, eye and leg movements, patient’s brain waves, and blood oxygen level. Most widely adopted by hospitals and sleep centers, polysomnography devices enable doctors to monitor varied parameters and get more comprehensive information about sleep disorders.
Growth of the Market in Emerging Economies
Increasing prevalence of sleep apnea owing to rise in cardiovascular diseases, diabetes and other diseases in the Asia Pacific region are factors offering a strong impetus to the growth of the sleep apnea diagnostic system market. The launch of advanced technological devices prominently accounts for the growing popularity of sleep apnea diagnostic system across developing regional markets. Consistent rise in the number of manufacturers and distributors, is likely to contribute to the growth of the sleep apnea diagnostic system market in the near future.
Sleep Apnea Diagnostic System Market Structure Analysis
- Key players continue to increase the market share with the launch of new products in the market.
- Joint ventures and partnership with distributors are the strategic actions practised by majority of key players.
- Prominent players continue to address the unmet needs in the market through inorganic strategies, such as mergers and acquisitions.
- The sleep apnea diagnostic system market has been relatively moderate in size and likely to remain dynamic, growing in steady pace throughout the forecast period.
- Major players focus on inorganic growth strategies to make a strong hold on targeted in-licensing and acquisitions through expanding its R&D activities and its distribution channels particularly including its specialist retail chains.
Boost in Sales at Sleep Centers, Clinics, and Home Care Settings
Adoption of sleep apnea diagnostic systems remains maximum at sleep centers and clinics that collectively hold nearly 25% of market value. However, Future Market Insights (FMI) observes rapid transition of the sleep testing services market from in-lab testing to home testing - driven by high price point of the former. Sleep apnea diagnostic systems are also witnessing impressive traction at home care settings.
North America’s Market to Exceed ~US$ 4 Bn by 2029 End
Currently a ~US$ 2 Bn market, North America will sustain its primacy in global sleep apnea diagnostic system market over the next decade. The U.S. represents leading market owing to increasing prevalence of sleep-related disorders, which is complemented by the favorable reimbursement policy framework. Moreover, Wester European countries are developing lucrative markets for sleep apnea diagnostic system manufacturers. Asian countries also store ample potential opportunities, particularly for home sleep testing (HST) devices, owing to cost efficiency.
* This data is only a representation. Actual data may vary and will be available in report.
HST Systems Hold Measurable Profits
In-lab testing is an expensive procedure due to costs associated with equipment and nursing services. Patients are showing higher preference for cost-effective home sleep testing services, which are ideal for home-bound elderly. In addition, reimbursement companies adopt more favorable policies towards HST over in-lab testing. Manufacturers, therefore, are focusing on the development of wearables and wireless screening devices.
Polysomnography devices remain sought-after
Actigraphy monitoring devices gain momentum
High adoption in sleep centers & clinics
Home care settings to register notable demand
How Growth will Unfold
Polysomnography (PSG) devices are highly preferred systems for sleep apnea diagnosis, especially in developed regions. Although clinical PSG monitoring devices are leading the way, noteworthy traction for ambulatory PSG monitoring devices has been observed. On the other hand, rising inclination towards home care settings and innovative recording systems is paving the way for sleep apnea screening devices and actigraphy monitoring devices. Actigraphy monitoring devices will surpass PSG devices by 2020 end, on the back of their non-invasive nature and wearability. Despite slower adoption, peripheral capillary oxygen saturation (SPO2) will record a larger share as compared to that of nasal flow sensors.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Sleep Apnea Diagnostic System Market Analysis 2019 - 2029
A recent market study published by Future Market Insights (FMI) on the sleep apnea diagnostic system including global industry analysis for 2014 - 2018 & opportunity assessment for 2019 - 2029, delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters of the sleep apnea diagnostic system, the growth prospects of the market are obtained with maximum precision.
Sleep Apnea Diagnostic System Market Taxonomy
The global sleep apnea diagnostic system is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
- Polysomnography (PSG) Devices
- Ambulatory PSG Monitoring Devices
- Clinical PSG Monitoring Devices
- Sleep Apnea Screening Devices
- Nasal Flow Sensors
- Peripheral Capillary Oxygen Saturation (SPO2)
- Actigraphy Monitoring Devices
- Home Care Settings
- Sleep Centers and Clinics
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Middle East & Africa
The report initiates with the executive summary of the sleep apnea diagnostic system, which includes a summary of key findings and statistics of the market. It also includes market size and revenue distribution of segments of the sleep apnea diagnostic system market.
Readers can find the definition and a detailed segmentation of the sleep apnea diagnostic system in this chapter, which will help them understand the basic information about the sleep apnea diagnostic system.
This chapter explains the key macroeconomic factors, drivers, restraints, trends and opportunity analysis that are expected to influence the growth of the sleep apnea diagnostic system over the forecast period. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the successive section.
This section includes premium insights such as regulatory scenario and market evolution. This section helps readers understand the key factors associated with the sleep apnea diagnostic system market.
This section explains the global market value analysis and forecast for the sleep apnea diagnostic system between the forecast periods of 2019-2029. This chapter includes a detailed analysis of the historical sleep apnea diagnostic system market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019 - 2029).
Based on product type, the sleep apnea diagnostic system market is segmented into polysomnography (psg) devices, sleep apnea screening devices and actigraphy monitoring devices. In this chapter, readers can find information about the key trends and developments in the sleep apnea diagnostic system and market attractiveness analysis based on product type.
This chapter provides details about the sleep apnea diagnostic system market based on end user, and has been classified into sleep centers and clinics, hospitals, and home care settings. In this chapter, readers can understand the market attractiveness analysis based on end user.
This chapter explains how the sleep apnea diagnostic system market will grow across various geographic regions such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa (MEA).
This chapter includes a detailed analysis of the growth of the North America sleep apnea diagnostic system market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on the application and countries in North America.
This chapter provides the growth scenario of the sleep apnea diagnostic system market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America. Along with this, assessment of the market across target segments has been provided.
Important growth prospects of the sleep apnea diagnostic system market based on its end users in several countries such as Germany, the U.K., France, Spain, Italy, BENELUX, and the Rest of Western Europe are included in this chapter.
Important growth prospects of the sleep apnea diagnostic system market based on its end users in several countries such as Russia, Poland and the Rest of Eastern Europe are included in this chapter
This chapter highlights the growth of the sleep apnea diagnostic system in Asia Pacific excluding Japan by focusing on China, India, Australia & New Zealand, ASEAN and rest of APEJ. This section also help readers understand the key factors that are responsible for the growth of the sleep apnea diagnostic system market in the APEJ region.
This chapter highlights the growth of the sleep apnea diagnostic system in Japan. This section also help readers understand the key factors that are responsible for the growth of the sleep apnea diagnostic system market in Japan.
This chapter provides information about how the sleep apnea diagnostic system market will grow in major countries in the MEA region such as GCC Countries, South Africa, and the Rest of MEA, during the forecast period of 2019-2029.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the sleep apnea diagnostic system market, along with a detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Koninklijke Philips N.V., Becton Dickinson and Co., ResMed Inc. Somnomedics GmbH, BMC Medical Co., Natus Medical Incorporated, MGC Diagnostics and among others.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the sleep apnea diagnostic system report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the sleep apnea diagnostic system market.
How the research was conducted?
- Marketing Directors
- Product Managers
- Business Development Officers
- Sales Executives
- Industry Experts
- Current Market Dynamics and Challenges
- Yesteryear Trends
- Market Characteristics
- Market Performance and Growth Quadrants
- Strategic Growth Initiatives
- Near-term and long-Term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity of Assumptions
- American Sleep Apnea Association (ASAA)
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
Primary Interview Splits
Sleep Apnea Diagnostic System Market Reports - Table of Contents
17. Assumptions and Acronyms Used
18. Research Methodology