The sleep apnea diagnostics market refers to the market for medical devices, tools, and technologies used to diagnose sleep apnea, a condition characterized by frequent pauses in breathing during sleep. The global sleep apnea diagnostics market is expected to grow significantly in the coming years, driven by factors such as increasing awareness about sleep disorders, growing prevalence of sleep apnea, and advancements in diagnostic technologies.
Sleep apnea is a common condition that affects people of all ages and is characterized by pauses in breathing during sleep, which can lead to daytime drowsiness, reduced quality of life, and other serious health problems if left untreated. The most common diagnostic tool for sleep apnea is polysomnography (PSG), which involves monitoring a patient’s sleep using multiple electrodes and sensors attached to the head, chest, and limbs.
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Other diagnostic tools used in the sleep apnea diagnostics market include home sleep apnea testing (HSAT) devices, portable monitors, and pulse oximeters. HSAT devices are convenient, cost-effective, and easy-to-use, and they provide accurate results in the comfort of a patient’s own home. Portable monitors are small, lightweight, and designed to be worn on the wrist or chest during sleep, while pulse oximeters measure the oxygen saturation levels in a patient’s blood.
The sleep apnea diagnostics market is expected to grow in the coming years, driven by factors such as increasing awareness about sleep disorders, growing prevalence of sleep apnea, and advancements in diagnostic technologies. In addition, increasing investment in research and development of new diagnostic tools, along with growing support from governments and healthcare organizations, is also expected to contribute to the growth of the sleep apnea diagnostics market.
The global Sleep Apnea Diagnostics Market generated $290.50 million in 2020, and is anticipated to reach $545.09 million by 2030, manifesting a CAGR of 6.7% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
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Increase in prevalence of obesity across the globe, rise in the number of employees working in shifts in stressful work conditions, and technological developments in sleep apnea diagnostic devices fule the global sleep apnea diagnostics market. On the other hand, high cost of sleep apnea diagnostic devices and limited awareness among patients regarding sleep apnea create hindrances. On the contrary, untapped markets in emerging countries create lucrative market opportunities.
COVID-19 scenario:
The restricted trade with other nations and travel restrictions caused a decline in diagnostics and surgical procedures in the first half of 2020.
The pandemic caused disruption in the hospital services due to COVID-19.
There has been a significant reduction in hospitals and sleep laboratory-based diagnoses of sleep apnea due to increased focus on treating COVID-19 patients.
As the sleep labs were closed due to lockdown in many countries, it affected the sleep apnea diagnostics market.
The report segments the global sleep apnea diagnostics market on the basis of product, end-user, and region.
Based on product, the polysomnography device segment contributed to the highest market share in 2020, attributing to nearly one-third of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the actigraphy monitoring device segment is expected to manifest the fastest CAGR of 7.6% from 2021 to 2030.
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Based on end user, the hospitals & sleep laboratories segment contributed to the highest market share in 2020, attributing to more than three-fifths of the total market share, and is anticipated to lead during the forecast period. On the other hand, the home care settings segment is expected to manifest the fastest CAGR of 7.3% from 2021 to 2030.
Based on region, North America contributed to the highest share in 2020, holding more than two-fifths of the total share, and is expected to lead during the forecast period. The global sleep apnea diagnostics market across the Asia-Pacific region is anticipated to exhibit the fastest CAGR of 8.9% during the forecast period.
Key players of the global sleep apnea diagnostics market analyzed in the research Cadwell Industries Inc, Devilbiss Healthcare, Koninklijke Philips N.V., Mindray Medical International Limited, Nihon Kohden Corporation, Resmed Inc, Smiths Group Plc, Medtronic Plc, Somnomedics Gmbh, and Natus Medical Incorporated.
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