According to The Insight Partners latest study on “Sleep Apnea Diagnostics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product and End User,” the market is projected to reach US$ 685.66 million by 2028 from US$ 473.95 million in 2021; it is estimated to grow at a CAGR of 5.4% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market. Factors such as increased sleep apnea prevalence, technological developments, and rising geriatric population are boosting the sleep apnea diagnostics market growth. However, the high cost of diagnosis, and challenges in medical device industry hamper the growth of the market.
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Drive DeVilbiss International, ResMed Inc, Nihon Kohden Corporation, SOMNOmedics GmbH, Cleveland Medical Devices Inc, Koninklijke Philips N.V., Cadwell Industries Inc, Natus Medical Incorporated, Itamar Medical Ltd., and Compumedics Limitedare among the leading companies operating in the sleep apnea diagnostics market.
PSG is the sleep diagnostic test carried out in hospitals and sleep centers to study the sleep disorders. It records heart cycle, breathing, brain waves, legs movement, and blood oxygen levels. The night sleep pattern is recorded, and it is also employed occasionally to record the daytime sleep habits. The diagnosis process focuses on nonrapid eye movement (NREM) as the first stage. During this stage, the brain waves are calculated by electroencephalography (EEG). Later to this stage, rapid eye movement is checked after one or two hours. The PSG monitors the sleep stages and the cycle during sleep or the disruption of the sleep.
The sleep apnea diagnostics market, based on product, is segmented into polysomnography (PSG) device, home sleep testing devices, oximeter, actigraphy monitoring device, sleep apnea screening device. The oximeter segment is further segmented into fingertip oximeter, handheld oximeter, wrist-worn oximeter, and table-top oximeter. The PSG device segment is expected to hold the largest share of ~59.09% of the sleep apnea diagnostics market in 2021. Based on End User, the sleep apnea diagnostics market has been segmented into hospitals and sleep laboratories, and home care settings. The hospitals and sleep laboratories segment is likely to account for a larger market share in 2021. However, the home care settings segment is expected to register a higher CAGR in the market during the forecast period.
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The sleep apnea diagnostics market is segmented on the basis of product and end user. Based on product the market is further segmented into polysomnography (PSG) device, home sleep testing devices, oximeter, actigraphy monitoring device, and sleep apnea screening device. The oximeter segment is further sub-segmented into fingertip oximeter, handheld oximeter, wrist-worn oximeter, and tabletop oximeter. The sleep apnea diagnostics market, by end user, has been segmented into hospitals and sleep laboratories, and home care settings.
Increased Prevalence of Sleep Apnea Boosts Sleep Apnea Diagnostics Market Growth
Obstructive sleep apnea (OSA) is a common disorder, characterized by the repetitive, complete or partial closure of the upper airway during sleep. This airway is helpful in the fragmentation of sleep and oxygen desaturation. The disorder causes significant morbidity, especially in the form of impairment of daytime functioning and degraded quality of life. As per recent controlled trials, oral appliances are up to 50.0% efficient in controlling the OSA among patients, including severe cases.
According to a survey conducted by Needham & Company, an investment firm, over one-third of OSA tests were conducted in patients’ homes in 2018, up from 15% in 2013. As a result, companies are concentrating their efforts on the development of home-care sleep apnea equipment. In June 2019, the FDA approved Itamar Medical, an Israel-based business, for a disposable home sleep apnea test. ResApp (Australia), a firm that develops smartphone applications for the diagnosis and management of respiratory disorders, has launched SleepCheck, an at-home screening app for the OSA.
Due to the rising use of the polysomnography (PSG) device in the various regions, the need for improved and technologically advanced PSG devices for the diagnosis of OSA has surged substantially, thus driving the global sleep apnea diagnostics market.
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