Global Sleep Apnea Diagnostic System market analysis
Actigraphy tracking devices, PSG (polysomnography) instruments, and screening devices are the examples of sleep apnea diagnosis systems. Polysomnography is a form of sleep study that can be used to identify a variety of sleep disorders. The unit records blood oxygen levels, brain waves, breathing, pulse rate, and eye and leg movements, among other things.
By 2027, the global sleep apnea diagnostic system market is projected to have a valuation of US$ 14,639.7 million over the forecast period.
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During the forecast period, the rising prevalence of sleep apnea will be a major factor driving growth of the global sleep apnea diagnostic system market. As per the report, ‘Estimation of the global prevalence and burden of obstructive sleep apnea: a literature-based analysis’, around 425 million adults aged 30–69 years have moderate to serious obstructive sleep apnea and another 936 million adults aged 30–69 years have medium to extreme obstructive sleep apnea worldwide.
Furthermore, the high prevalence of CVD (cardiovascular disease) is expected to boost growth of the global sleep apnea diagnostic system market during the forecast period. As per the American Heart Association’s Heart Disease and Stroke Statistics 2018, nearly 92.1 million people in the U.S. suffer from CVD or stroke-related complications.
In terms of value, North America dominated the global sleep apnea diagnostic system market in 2019, contributing about 53.5 percent of the market, led by Asia Pacific.
The rising cost of in-lab sleep monitoring is expected to be a significant impediment in the growth of the global sleep apnea diagnostic system market over the forecast period. In the U.S., complete polysomnography costs between $3,500 and $5,000. The home sleep testing, on the other hand, costs between $500 and $800.
Furthermore, a lack of public awareness about the negative consequences of sleep apnea is likely to stymie growth of the global sleep apnea diagnostic system market. Some conditions, such as diabetes and respiratory problems, may be caused by sleep apnea. The majority of the population, especially in developed countries, is unaware of the severe consequences of sleep apnea. Untreated sleep disorders can cause chronic illnesses including obesity, high blood pressure, stroke, diabetes, and heart disease.
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The global sleep apnea diagnostic system market is expected to benefit from rising demand and effectiveness of HST (home sleep monitoring) test solutions. As compared to in-lab sleep testing applications, the efficacy of the most portable home care devices on the market is slightly lower. Furthermore, owing to medical shortcomings of obstructive sleep apnea, a large number of people with sleep-related conditions do not use in-house research. As a result, manufacturers will benefit from the introduction of emerging technology, which will result in higher effectiveness and efficiency of these instruments.
Furthermore, rising compliances of the geriatric population regarding home care testing is expected to fuel growth of the global sleep apnea diagnostic system market. Home-bound, elderly patients, or those with chronic illnesses that need specialised treatment may benefit from HST.
In 2019, the Actigraphy Monitoring Devices segment of the global sleep apnea diagnostic system market had a valuation of US$ 3,107.2 million and is projected to grow at a CAGR of 8.5 percent to US$ 5,951.2 million by 2027.
Integrated treatment systems, which provide medical testing, pre-test assessment, long-term care, follow-up, and provision of care, are replacing diagnostic testing approaches in the sleep testing market. The global sleep apnea diagnostic system market is projected to expand as insurance companies become more interested in encouraging home sleep treatment over in-lab research.
Academic institutions are examining the breadth of sleep testing programmes and developing a standardised learning platform for students. The sleep apnea diagnostic system market and the function of the sleep technologist are being transformed by home sleep monitoring and APAP (auto-titrating positive airway pressure) systems. This has shortened the amount of time it takes to analyse, track, and archive physiologic data from patients who are being tested.
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Key companies contributing in the global sleep apnea diagnostic system market are FusionHealth, Natus Medical Incorporated, Advanced Brain Monitoring, Inc., Dickinson and Company, Becton, Koninklijke Philips N.V., BMC Medical Co, Ltd., ResMed Inc., SOMNOmedics GmbH, Cleveland Medical Devices Inc., Itamar Medical Ltd., Braebon Medical Corporation, SleepMed, and MGC Diagnostics Corporation.
To broaden their product line, key market players are focusing on partnering and collaborating. Itamar Medical Ltd., a maker of non-invasive ambulatory screening medical instruments for sleep apnea, teamed up with SoClean Inc., a producer of sleep equipment sanitizers, in December 2019 to commercialise and distribute Itamar Medical’s WatchPAT ONE home sleep apnea test and Digital Health Services.
The market’s major players are also focusing on M&A tactics to extend their product range. FusionHealth, a sleep health provider, and Nox Medical, a sleep testing and diagnostics company, combined in January 2020 to create Nox Health, a company that will concentrate on developing therapies for a wide variety of sleep health problems, including sleep apnea, circadian disturbances, insomnia, and restlessness.
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