Global Sleep Apnea Diagnostics Market Analysis Report 2021-2028: Telemedicine Gaining Prominence - Market to Reach $685 Million - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Sleep Apnea Diagnostics Market Forecast to 2028 - COVID-19 Impact and Global Analysis" report has been added to ResearchAndMarkets.com's offering.
The sleep apnea diagnostics market is projected to reach US$ 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.
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.
Sleep apnea is a common type of sleep disorder that happens when an individual is having trouble in breathing during sleep where breathing repeatedly stops and starts. Sleep apnea devices are primarily provided as diagnostic and therapeutic devices in order to treat obstructive sleep apnea syndrome, central sleep apnea syndrome and complex sleep apnea syndrome. Continuous positive airway pressure is widely recommended device to treat obstructive sleep apnea.
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.
Key Market Dynamics
- Increased Prevalence of Sleep Apnea
- Technological Developments
- Rising Geriatric Population
- Growing Medical Device Industry
- High Cost of Diagnosis of Sleep Apnea
- Challenges in Medical Device Industry
- Rising Government Support for Medical Technologies
- 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.
- Compumedics Limited
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