Selbyville, Delaware, May 03, 2021 (GLOBE NEWSWIRE) -- The report states that global sleep apnea diagnostics market size was remunerated USD 112.9 million in 2019 and is expected to record 6.8% CAGR over 2020-2027, amassing USD 191.1 million by the end of the forecast period.
Moving ahead, the document hosts intricate details about this business sphere through various segments such as type, application, and geographical bifurcation. All factors contributing to each segment's development are considered when determining the best growth avenues for the upcoming years. Moreover, the major contenders are profiled with respect to their investment discretion, positioning, and other financial attributes.
Technological advancements in the field and increasing pervasiveness of sleep apnea owing to booming elderly population are key factors driving the market growth.
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For the record, a study conducted by ResMed Inc. in 2018, sleep apnea affected over 936 million people worldwide, depicting a ten times higher count than previous estimates. In addition, the European Respiratory Society predicted that sleep apnea will affect 13% to 32% of Europe's aging population by 2020.
Notably, sleep-disordered breathing (SDB) or sleep apnea is a potentially serious sleep condition in which inhaling of oxygen stops and starts frequently. It happens when the upper airway gets clogged while sleeping, resulting in reduced airflow.
As a result, patients with sleep apnea are opting for a sleep apnea test, which is a highly simplified breathing monitoring solution that can track breathing and oxygen levels while a person sleeps, adding impetus to the overall market development.
Additionally, actigraphy devices are gaining traction in the global sleep apnea diagnostics industry. It is a wearable device worn on the wrist that detects physical activity and provides objective information on sleep patterns in the patients' normal sleeping environment.
Coming to the factors restraining the market expansion, lack of reimbursement for the devices along with their high cost are likely to hamper business dynamics in the upcoming years.
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Regional terrain summary
Speaking of the geographical ambit, Latin America, Europe, North America, and Asia Pacific are the top contributors to the overall sleep apnea diagnostics market value. Among them, North America holds a major portion of the industry share owing to better accessibility to reimbursement facilities, strong presence of major vendors, and technologically developed healthcare facilities.
Meanwhile, Asia Pacific sleep apnea diagnostics industry is poised to amass notable gains through 2027, creditable to economic progress in developing nations like India and China, improving healthcare infrastructure, and rising prevalence of sleep apnea disorder.
Global Sleep Apnea Diagnostics Market by Product Type (Value, USD Million, 2017-2027)
- Finger Tip Oximeter·Oximeter
·Respiratory Polygraph
·Actigraphy Monitoring Device
·Sleep Apnea Screening Device
·Polysomnography Device (PSG)
·Others
Global Sleep Apnea Diagnostics Market by End-Use (Value, USD Million, 2017-2027)
·Home Care Settings
·Hospitals & Sleep Laboratories
Global Sleep Apnea Diagnostics Market Regional Landscape Fragmentation (Value, USD Million, 2017-2027)
North America
- Canada
- United States
Europe
- Italy
- Spain
- France
- Germany
- United Kingdom
- Rest of Europe
Asia Pacific
- Australia
- Japan
- India
- China
- Rest of Asia Pacific
Latin America
- Mexico
- Brazil
Rest of the World
Global Sleep Apnea Diagnostics Market Top Vendors (Value, USD Million, 2017-2027)
·Somonomedics GmbH
- Smith Group plc
- ResMed Inc.
- Nihon Kohden Corp.
- Natus Medical Inc.
- Mindray Medical International Ltd.
- Medtronic plc
- Koninklijke Philips N.V.
- Devilbiss Healthcare LLC
- Cadwell Industries Inc.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Million)
1.2.1. Sleep Apnea Diagnostics Market, by Region, 2018-2027 (USD Million)
1.2.2. Sleep Apnea Diagnostics Market, by Product Type, 2018-2027 (USD Million)
1.2.3. Sleep Apnea Diagnostics Market, by End-Use, 2018-2027 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Sleep Apnea Diagnostics Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Sleep Apnea Diagnostics Market Dynamics
3.1. Sleep Apnea Diagnostics Market Impact Analysis (2018-2027)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Sleep Apnea Diagnostics Market Industry Analysis
4.1. Porter's 5 Force Model
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Sleep Apnea Diagnostics Market, by Product Type
5.1. Market Snapshot
5.2. Global Sleep Apnea Diagnostics Market by Product Type, Performance - Potential Analysis
5.3. Global Sleep Apnea Diagnostics Market Estimates & Forecasts by Product Type 2017-2027 (USD Million)
5.4. Sleep Apnea Diagnostics Market, Sub Segment Analysis
5.4.1. Polysomnography Device (PSG)
5.4.2. Sleep Apnea Screening Device
5.4.3. Actigraphy Monitoring Device
5.4.4. Respiratory Polygraph
5.4.5. Oximeter
5.4.6. Finger Tip Oximeter
5.4.7. Others
Chapter 6. Global Sleep Apnea Diagnostics Market, by End-Use
6.1. Market Snapshot
6.2. Global Sleep Apnea Diagnostics Market by End-Use, Performance - Potential Analysis
6.3. Global Sleep Apnea Diagnostics Market Estimates & Forecasts by End-Use 2017-2027 (USD Million)
6.4. Sleep Apnea Diagnostics Market, Sub Segment Analysis
6.4.1. Hospitals & Sleep Laboratories
6.4.2. Home Care Settings
Chapter 7. Global Sleep Apnea Diagnostics Market, Regional Analysis
Related Report:
Home Sleep Apnea Testing Devices Market Size, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025
Global Home sleep apnea testing devices market size is expected to exceed USD 1.4 billion by 2025. Rising number of people suffering from sleep apnea disorders will majorly drive the home sleep apnea testing devices market growth over the projected timeframe. Canada home sleep apnea testing devices market is estimated to witness more than 19% CAGR over the analysis period. As per the recent study conducted by the Public Health Agency of Canada, currently over 5.5 million Canadian adults are either suffering or are at very high risk of developing sleep apnea disorder in the future. In addition, around 80% of the sleep apnea patient population is estimated to be undiagnosed till date. Hence, growing prevalence of obstructive sleep apnea and large number of undiagnosed patient population in the country will serve as high impact rendering factors in the home sleep apnea testing devices industry growth.
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