Market Research Report
Home Sleep Apnea Testing Devices Market Size by Test Type (Type 2, Type 3, Type 4), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2028
|Home Sleep Apnea Testing Devices Market Size by Test Type (Type 2, Type 3, Type 4), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2028|
Published: April 12, 2022
Global Market Insights Inc.
Content info: 100 Pages
Delivery time: 2-3 business days
The home sleep apnea testing devices market is set to observe massive growth by 2028 due to growing adoption of sleep monitoring methods and testing devices. Additionally, rising R&D expenses on advanced technologies are also likely to fuel the market growth through the forecast timeline.
Recently, government agencies have been collaborating with public organizations to initiate public education, awareness campaigns, and training programs for clinicians, which has played a vital role in industry growth. For instance, in February 2021, the U.S. Food and Drug Administration (FDA) approved a tongue strengthening device that stimulates tongue movement and avoids sleep apnea in patients. The device works on an innovative technology that is used while the patient is awake unlike most devices that are used during sleeping hours.
Similarly, in April 2022, U.S. FDA approved a tongue stimulator sleep apnea testing device that treats sleep apnea in children with down syndrome. The device claims to automatically move the tongue and clear the air pathway by sending a signal to the hypoglossal nerve to breathe.
Furthermore, major players in the industry have been engaging in collaborations and partnerships while also focusing on various R&D activities to realize innovations in sleep monitoring devices to expand their presence in the sector, thereby propelling home sleep apnea testing devices market growth. For instance, in December 2020, ResMed, a U.S.-based manufacturer of sleep apnea testing devices, introduced a novel treatment approach for sleep apnea in patients with their new ResMed remote diagnostic technology that ensures healthy sleep movements and aids in the detection of any casualties at home.
In another instance, in February 2022, Compumedics Limited, a specialist in the diagnosis of sleeping disorders, in collaboration with Radiometer Pacific, an Australia-based manufacturer of transcutaneous monitoring systems, became the official distributor of Radiometer's TCM5 Flex transcutaneous monitor in Australia and New Zealand. The device detects hypoventilation in patients at risk of sleep-related breathing disorders.
The home sleep apnea testing devices market has been bifurcated based on test type and region. In terms of test type, the market has been further divided into type 2, type 3, and type 4. In 2021, the type 4 segment held approximately 24% market share and is primed to witness robust growth on account of soaring demand and rising awareness regarding benefits offered by type 4 home sleep apnea testing devices in the testing of multiple sleep disorders.
In the regional landscape, the Latin America home sleep apnea testing devices market was valued at more than USD 91 million in 2021 and is likely to witness notable growth between 2022 and 2028. This growth is attributable to the growing aging population and increasing awareness regarding sleep apnea and other sleep disorders in the LATAM region.