Sleep Apnea Diagnostic Systems Market are expected to rise at a steady rate of 5.75% across Europe through 2031 | FMI
According to a study by Future Market Insights (FMI), the global Sleep Apnea Diagnostic Systems Market will grow at a 7.30% YoY rate in 2020–21. In 2021, the market is anticipated to reach a peak valuation of US$ 4267.2 Billion.
The top companies in the market are Koninklijke Philips N.V., ResMed Inc., Becton, Dickinson and Company, Natus Medical Incorporated, and MGC Diagnostics Corporation. According to FMI, they are anticipated to contribute roughly 80–85% of the market’s revenue share in 2021.
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.
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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.
Key Companies Profiled:
- Koninklijke Philips N.V.
- Becton, Dickinson and Company
- Braedon Medical Corporation
- Advanced Brain Monitoring Inc.
- SOMNOmedics GmbH
- ResMed Inc.
- BMC Medical Co. Ltd.
- Natus Medical Incorporated
- MGC Diagnostics Corporation
- Cleveland Medical Devices Inc.
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Sleep Apnea Diagnostic Systems Market by Category
- Polysomnography (PSG) Devices
- Ambulatory PSG Monitoring Devices
- Clinical PSG Monitoring Devices
- Sleep Apnea Screening Device
- Nasal Flow Sensors
- Peripheral Capillary Oxygen Saturation (SPO2)
- Actigraphy Monitoring Devices
By End-User Type:
- Home Care Settings
- Sleep Centers & Clinics
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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