Sleep Apnea Diagnostic System Market to Reach $3.4 Billion by 2029, With COVID-19 Impact – Future market Insights
In addition to the fact that sizeable population with a sleep disorder remains undiagnosed, increasing awareness about the availability of screening and diagnostic methods will push the sales of sleep apnea diagnostic system sales over the following years. An approximately US$ 3.4 Bn market for sleep apnea diagnostic device will see a robust growth outlook over the forecast period (2019 – 2029), as indicated by a new market research report by Future Market Insights (FMI).
The demand for sleep apnea diagnostic systems for home sleep testing applications has been marking an important trend shaping the global market over the recent past. Innovations such as sleep testing wearables will also create newer trend waves, influencing the growth of sleep apnea diagnostic system market.
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Key Takeaways – Sleep Apnea Diagnostic System Market Study
- Upsurge in the demand for polysomnography devices is expected due to its multiple use in the accurate diagnosis of obstructive sleep apnea by monitoring various variables such as heart rates, breathing, as well as eye and leg movement.
- Factors such as rise in incidences of sleep apnea, initiatives undertaken by government, higher adoption rate of sleep services due to high obesity rate, and changing lifestyles are contributing to the growth of the North America sleep apnea diagnostic system market.
- There is a growing inclination among patients to sleep centers and medical clinics for the diagnosis of sleep apnea. This is due to the fact that these centers are well-equipped with all analysis and diagnosis devices. Shift in the preference towards home sleep testing (HST) devices is projected to present new growth opportunities in the near future.
The prime objective of sleep apnea diagnostic system is to give an accurate diagnosis of the potentially serious sleep disorder.This system assesses patient’s breathing and other body capacities to diagnose the disorder. It is estimated that over 85% of patients remain undiagnosed of such disorders, which exhibits the need for such diagnostic systems.
Leading Manufacturers Focused on Product Innovation
Koninklijke Philips N.V and ResMed Inc. are among the leading market players in the sleep apnea diagnostic system market. These manufacturers continue to dominate the market landscape of the sleep apnea diagnostic system market due to its focus on product innovation, market leadership in product introduction, and strong distribution network with hospitals and sleep centers and clinics to increase sales. Other players both local and regional players account for considerable market share in the global sleep apnea diagnostic system market.
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Know More About Sleep Apnea Diagnostic System Market Report
Future Market Insights brings the comprehensive research report on forecast revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2029. The global sleep apnea diagnostic system market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the sleep apnea diagnostic system market on basis of product type (polysomnography (PSG) devices, Sleep apnea screening devices, Actigraphy monitoring devices), and end user (home care settings, hospitals, sleep centers and clinics) across seven major regions.
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