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  • Sleep Apnea Diagnostics Market Analysis | 2022-2028

    Sleep Apnea Diagnostics Market Analysis | 2022-2028

    Sleep Apnea Diagnostics Market Analysis | 2022-2028
    Report code - SR2303 Delivery - 2 Weeks
    Sleep Apnea Diagnostics Market Size, Share, Trend, Forecast, Competitive Analysis, and Gro See more...

    Market Insights

    The Sleep Apnea Diagnostics Market was estimated at US$ 340.93 million in 2021 and is expected to grow at a CAGR of 6.77% during 2022-2028 to reach US$ ~540.58 million in 2028.

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    Sleep is a biological requirement that affects memory, cognitive capacities, and metabolic balance. Poor sleeping patterns have an impact on people's overall health, which can lead to chronic diseases such as diabetes, rheumatoid arthritis, high blood pressure, and stroke. They are aided by pharmaceuticals and medical technology used to treat and diagnose a wide range of sleep disorders, such as insomnia, narcolepsy, sleep apnea diagnostics, and others. Sleep apnea diagnostics involves identifying and diagnosing sleep apnea, a disorder marked by breathing interruptions during sleep.

    Market Dynamics

    The increased awareness of this ailment and its negative consequences among the world's population is expected to propel the market for sleeping aids. Because of the increased awareness of healthcare, the rising prevalence of sleep apnea, the decline in people's physical activity, as well as the progression of the geriatric population, the market is expected to grow and its governance in the industry during the forecast period. Insomnia is a sleep disorder that makes it difficult to fall or stay asleep. The increasing global prevalence of the illness can be blamed for a substantial portion of the business. The chief causes of this illness include pain, depression, prolonged stress, and others. As a result, the sleep apnea diagnostics category may enjoy the most growth during the anticipated period.

    The rise in patients with sleep disorders caused by an aging and obese population is propelling the industry forward. The importance of using sleeping aids and rising non-refundable income are driving the market growth for sleeping aids. The rising worldwide population's efforts to combat this condition are likely to raise the demand for sleeping medicines. The rising usage of medicine by those suffering from sleep disorder breathing is expected to have a positive impact on the global market for sleeping aids. Because they are dealing with multiple unpleasant disease-related symptoms, this sort of patient is at a high risk of infection.

    One of the key causes driving the increased demand for sleep apnea diagnostic equipment is the rising prevalence of allied health disorders connected with OSA such as diabetes, hypertension, obesity, and cardiovascular illnesses. Furthermore, the increasing severity of allied health disorders is expected to raise awareness about diagnosis and treatment, contributing to market growth in the approaching years. Another factor driving up demand for these items is the rising prevalence of Chronic Obstructive Pulmonary Disease (COPD). According to the American Thoracic Society, COPD patients had a 50.0% higher rate of insomnia, daytime drowsiness, nightmares, and disturbed sleep than OSA patients.

    Furthermore, the high cost of diagnosing sleep apnea is anticipated to stifle market expansion. For example, OSA is primarily diagnosed with a polysomnography device in an overnight sleep clinic, which normally costs between USD 1,000 and USD 3,000. Additional data interpretation fees are sometimes involved with these tests. It raises the patient's expense burden, which is expected to impede market expansion. However, addressing cost-related difficulties and providing insurance coverage plans for sleep apnea diagnosis and treatment in developing economies would yield favorable results and enhance market growth during the projection period.

    Sleep Apnea Diagnostics Market Report Overview

    Market Size in 2028

    US$ ~540.58 million

    Market Size in 2021

    US$ 340.93 million

    CAGR (2022-2028)

    6.77% 

    Base Year of Study

    2021

    Trend Period

    2016-2020

    Forecast Period

    2022-2028

     

    Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:

    • As a result of expanding market constraints on developing new products and rising government financing for research and development, sleep apnea diagnostics are expected to have enormous business development potential (R&D). Narcolepsy, chronic insomnia, and disruptive sleep apnea diagnoses are just a few of the more frequent sleeping problems. The difficulty of sleep apnea diagnostics in treating OSA and insomnia leads to the global growth of the sleep apnea diagnostics market.

    Segments Analysis

    By Product Type

    The market is further segmented into actigraphs, polysomnography, respiratory polygraphs, pulse oximeters, and others. Polysomnography (PSG) will lead the global sleep apnea diagnostic devices market in 2021. This huge percentage can be attributed to the introduction of new devices that improve performance. In addition, the respiratory polygraph is likely to be the fastest-growing category, with a considerable growth rate during the projection period. This expansion can be due to its low cost and capacity to assess the patient's condition in situations different from artificial laboratory tests.

    Furthermore, the rising prevalence of comorbidities linked with OSA is boosting the use of its diagnostic technologies. One of the disorders that is a major worry for OSA patients is sleep-disordered breathing (SDB). For example, it is estimated that about 30.0% of people with hypertension have SDB, which may increase to 80.0% in patients with drug-resistant hypertension. As a result, the increased proportion of SDB associated with these comorbidities is expected to drive the market over the next few years.

    By End-User Type

    The market is further segmented into hospitals, home care, and others

    Regional Analysis

    The sleep apnea diagnostics market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2021, North America led the market. Rising sleep disorder incidence, an increase in the patient pool suffering from cardiovascular diseases, diabetes, and COPD, as well as technologically advanced healthcare facilities and better reimbursement facilities for these kinds of health conditions in the region, are some of the key factors driving market growth.

    On the other hand, the Asia Pacific sleep apnea diagnostic market is predicted to rise at a rapid pace due to constantly growing healthcare infrastructure and economic development. Furthermore, an increasing number of patients suffering from OSA, as well as the rising incidence of respiratory disorders and chronic conditions like as obesity and diabetes linked to sleep apnea, are expected to drive market expansion in the region during the forecast period.

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    Key Players

    The following are the major players in the sleep apnea diagnostics market:

    • Natus Medical Incorporated
    • SOMNOmedics GmbH
    • Compumedics Limited
    • Itamar Medical Ltd.
    • Nihon Kohden Corporation
    • Vyaire Medical, Inc
    • CleveMed (Cleveland Medical Devices Inc.)
    • Cadwell Laboratories Inc.
    • Koninklijke Philips N.V.

    Numerous prospects are opening up for manufacturers of sleep assistance treatments to combat chronic sleeping problems and grow their market share as a result of increasing product approvals and government financing for healthy treatment and testing of sleep apnea diagnostics. For instance:

    • In 2018, Philips Respironics bought NightBalance, a digital health firm. The business is working on a gadget to treat positional OSA and snoring. This acquisition is intended to aid in the development of a comprehensive product portfolio and the acquisition of a larger market revenue share.
    • In April 2017, Koninklijke Philips announced the opening of Dream Station Go. It is the newest and smallest positive airline pressure (PAP) equipment designed to reduce OSA patient transportability.

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Sleep Apnea Diagnostics Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQs)

    The sleep apnea diagnostics market is estimated to grow at a healthy CAGR of 6.77% over the next five years.

    The sleep apnea diagnostics market is likely to reach US$ ~540.58 million in 2028.

    The rise in patients with sleep disorders caused by an aging and obese population is propelling the industry forward. The importance of using sleeping aids and rising non-refundable income are driving the market growth for sleeping aids. The rising worldwide population's efforts to combat this condition are likely to raise the demand for sleeping medicines.

    In 2021, North America led the market. Rising sleep disorder incidence, an increase in the patient pool suffering from cardiovascular diseases, diabetes, and COPD, as well as technologically advanced healthcare facilities and better reimbursement facilities for these kinds of health conditions in the region, are some of the key factors driving market growth.

    The major players in the market are Natus Medical Incorporated, SOMNOmedics GmbH, Compumedics Limited, Itamar Medical Ltd., Nihon Kohden Corporation, Vyaire Medical, Inc, CleveMed (Cleveland Medical Devices Inc.), Cadwell Laboratories Inc., and Koninklijke Philips N.V.

    The market is studied from 2016-2028.