Sleep Apnea Diagnostics Market Valued At $ 685.66 Million Worldwide By 2028, @ 5.4% CAGR: The Insight Partners

The growth of the global sleep apnea device market is attributed to technological advances, rising geriatric populations, and falling prices for sleep apnea devices, all of which are likely to have a positive impact on market growth in the years to come.

NEW YORK, November 19, 2021 / PRNewswire / – According to Partners study, “Sleep Apnea Diagnostics Market Forecast to 2028 – COVID-19 Impact and Global Analysis – By Product, End-User, and Geography,” the market is expected to reach $ 685.66 million until 2028 $ 473.95 million 2021; It is estimated that it will grow at a CAGR of 5.4% from 2021 to 2028. Factors such as an increased prevalence of sleep apnea, technological developments and an increasing geriatric population are driving the growth of the sleep apnea diagnostics market. However, the high diagnostic costs and challenges in the medical device industry are hampering the growth of the market. On the other hand, increasing government support for medical technology is expected to offer market participants significant growth opportunities to leverage and expand their customer base Asia and Latin America.

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Report coverage

details

Market size value in

$ 473.95 million in 2021

Market size value according to

$ 685.66 million by 2028

Growth rate

CAGR of 5.4% from 2021 to 2028

Forecast period

2021-2028

Base year

2021

number of pages

166

No tables

84

Number of diagrams & illustrations

73

Historical data available

Yes

Covered segments

Product, end user and geography

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country area

USA, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Sales forecast, company ranking, competitive landscape, growth factors and trends

Download the Latest PDF Sample of Sleep Apnea Diagnostics Market Growth Research Report at https://www.theinsightpartners.com/sample/TIPRE00016809/.

In 2020, North America dominated the market for sleep apnea diagnostics. The US holds the largest market share in this region. The market growth in the country is attributed to the rapidly increasing incidence of chronic diseases. The growth of the market is mainly driven by the high prevalence of sleep apnea disorders in the American population. According to the American Sleep Apnea Association, 22 million Americans had sleep apnea in 2017 and ~ 80% of moderate and severe obstructive sleep apnea cases were undiagnosed. The growth of the sleep apnea diagnostic market in the United States is attributed to increasing awareness of the condition and its risk factors combined with its high prevalence. Market growth is also accelerating with the increasing importance of sleep testing in adults and children. The American Sleep Apnea Association estimates that 38,000 people die of heart disease in the United States each year, with sleep apnea being a complicating factor.

The story goes on

Increased prevalence of sleep apnea is fueling growth in the sleep apnea diagnostics market

Obstructive sleep apnea (OSA) is a common condition characterized by the repetitive, complete, or partial occlusion of the upper airways during sleep. This airway is helpful in sleep fragmentation and oxygen desaturation. The disease causes considerable morbidity, especially in the form of impaired daily function and a reduced quality of life. In recent controlled studies, oral devices are up to 50.0% effective in controlling OSA in patients, including severe cases.

According to a survey by Needham & Company, an investment firm, over a third of OSA tests were performed on patients at home in 2018, up from 15% in 2013. As a result, companies are focused on sleep apnea devices for home care. In June 2019, FDA approved Itamar Medical, and Israel-based company for a single-use, home sleep apnea test. ResApp (Australia), a company that develops smartphone applications for the diagnosis and treatment of respiratory diseases, has launched SleepCheck, a home screening app for OSA.

With the increased use of polysomnography (PSG) devices in the various regions, the need for improved and technologically advanced PSG devices for diagnosing OSA has increased significantly, which is driving the global sleep apnea diagnostic market.

The COVID-19 pandemic has North American countries like the US and Canada. The disease created chaos for the medical industry across the region and the demand for diagnostic and therapeutic equipment such as ventilators, ventilators and in vitro diagnostic tests (IVD) in hospitals has increased dramatically. The demand for personal protective equipment has also increased significantly. The FDA has stepped up its efforts to keep people healthy and has issued several guidelines for hospitals and medical device manufacturers. Various companies also stepped up their research and development activities for diagnostic tests and therapy devices. Thus, the diverted efforts of health care players due to increased requirements in other categories have severely impacted the market performance of sleep apnea diagnostics.

Download the Latest COVID-19 Analysis on Sleep Apnea Diagnostics market growth research report at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00016809/.

Sleep Apnea Diagnostics Market: Segment Overview

The Sleep Apnea Diagnostics Market is segmented into Polysomnography (PSG) Devices, Home Sleep Testing Devices, Oximeters, Actigraphy Monitors, and Sleep Apnea Screening Devices by Product. The oximeter segment is further divided into fingertip oximeter, hand oximeter, wrist-worn oximeter, and desk oximeter. The PSG devices segment is expected to hold the largest ~ 59.09% share of the sleep apnea diagnostics market in 2021. Based on the end users, the Sleep Apnea Diagnostics market has been segmented into Hospitals and Sleep Laboratories, and Home Care Facilities. The hospitals and sleep laboratories segment is expected to have a larger market share in 2021. However, the home care segment is expected to see a higher CAGR in the market over the forecast period.

Sleep Apnea Diagnostics Market: Competitive Landscape and Key Developments

Drive DeVilbiss International, ResMed Inc, Nihon Kohden Corporation, SOMNOmedics GmbH, Cleveland Medical Devices Inc, Koninklijke Philips NV, Cadwell Industries Inc, Natus Medical Incorporated, Itamar Medical Ltd., Compumedics Limited are among the leading companies in the sleep apnea diagnostics market . These players focus on expanding and diversifying their market presence and gaining new customer bases in order to develop existing business opportunities.

In October 2021, ResMed Inc. acquired Ectosense, a leading provider of networked home sleep testing. Ectosense is selling its FDA-cleared NightOwl in the US, Australia, New Zealand, , and European countries. ResMed has since been a minority investor in Ectosense July 2020, and it also has NightOwl in. distributed Australia, New Zealand, and under the “ResMed onesleeptest” brand since the same year. Ectosense will operate in ResMed’s sleep and respiratory care business.

Buy a Copy of Sleep Apnea Diagnostics Market Share, Strategies, and Forecasts 2021-2028 Research Report at https://www.theinsightpartners.com/buy/TIPRE00016809/

In September 2021, Koninklijke Philips NV received approval from the US FDA to revise the affected first-generation DreamStation devices.

In November 2019, Drive DeVilbiss International presented its products at MEDICA 2019, Düsseldorf, Germany. The company actively participates in various events around the world to increase awareness of its brand and products among customers and end users.

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Sleep Apnea Diagnostics Market Valued At $ 685.66 Million Worldwide By 2028, @ 5.4% CAGR: The Insight Partners

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