Market Research Report
Home Sleep Apnea Testing Devices Market: Current Analysis and Forecast (2021-2027)
|Home Sleep Apnea Testing Devices Market: Current Analysis and Forecast (2021-2027)|
Published: May 1, 2022
UnivDatos Market Insights Pvt Ltd
Content info: 229 Pages
Delivery time: 1-2 business days
Global Home Sleep Apnea Testing Device Market is anticipated to grow with an elevated CAGR of around 6% over the forecast period (2021-2027). Sleep Apnea is a serious sleep disorder in which breathing stops repeatedly the whole night. Basically, it is of 3 types: obstructive sleep disorder, central sleep disorder, and complex sleep disorder. Obstructive sleep disorder is the most common form of sleep apnea in which throat muscles relax due to which person can't breathe.
According to the United Nations, the global population aged 60 years or over was numbered 962 million in 2017 and is expected to reach nearly 2.1 billion by 2050. This rapidly growing geriatric population base is an indication of the growing prevalence of various age-related problems including hypertension, diabetes, congestive heart failure, among others. For instance, as per CDC, 34.1 million adults aged 18 years or older, or 13.0% of all US adults had diabetes. Owing to the growing prevalence of these chronic illnesses there is an increase in the number of elderly people suffering from obstructive sleep apnea which in turn is contributing to the growth of the home sleep apnea testing devices market.
Furthermore, the home sleep apnea testing market is anticipated to grow on account of the growing technological advancement, a large number of ongoing research activities in this field, rising government and public-private investments, and various advantages associated with the implementation of home sleep apnea testing devices such as it make detecting sleep apnea easier, more accurate and less expensive. However, some of the restraints in the market including the stringent regulatory framework and economic & clinical consequences of sleep apnea are impeding the growth of this market all over the world.Compumedics Limited, Natus Medical Inc., Koninklijke Philips N.V., SOMNOmedics GmbH, ResMed, Itamar Medical, Nox Medical, SleepMed Incorporated, CleveMed, Cadwell Industries, Inc. are some of the prominent players operating in the home sleep apnea testing device market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with home sleep apnea testing devices.
Insights Presented in the Report
"Amongst Portability Type, portable device segment holds the major share"
Based on Portability, the home sleep apnea testing devices market is bifurcated into portable and stationary devices. The portable device segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe as these portable testing devices offer enhanced diagnostic performance, reliability, and satisfaction to the patients. Further, the demand for portable devices among the geriatric population is increasing as it is easy to use. The benefits of this device are many such as it reduces the time, is easy to use and handle, and generates fully digitalized reports within a minute which helps the geriatric age people to manage this device.
"Amongst Structure, non-wired segment holds the major share"
Based on the structure, the home sleep apnea testing devices market is divided into Wired and Non-Wired. The Non-Wired segment occupied the major share of the home sleep apnea testing devices market in 2020 and it is expected to grow with a substantial CAGR in the upcoming years. The non-wired device has advantages such as, it is easy to use, cost-effective, and comfortable to wear at the night for good sleep. Additionally, this non-wired device has advanced in-built biosensors that improve patient comfort which in turn is propelling the demand for various non-wired products. To cater to the growing demand for these devices, market players are focusing on launching new and advanced non-wired sleep apnea devices. For example, Philips launched Philips NightBalance, a prescription sleep position therapy device designed for patients with positional obstructive sleep apnea (OSA). A mask-free alternative to existing positional OSA treatments, Philips NightBalance is a clinically-validated positional therapy that uses gentle vibrations to encourage users to alter their sleeping positions to help prevent apneas.
"Amongst Device Type, Type 3 segment holds the major share"
Based on Device Type, the market is fragmented into Type 1, Type 2, Type 3, and Type 4. In 2020, the Type 3 segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. Type 3 device is cost-effective as compared to polysomnography (PSG) devices. It provides high effectiveness and efficiency in the diagnosis of obstructive sleep apnea to the patient. Also, Type 3 has various other functions as it detects ECG or heart rate, oxygen saturation as well as channels of respiratory movement and airflow. Moreover, an increase in the production of the type 3 device type subsequently drives the market. For example, Cadwell re-introduced ApneaTrak home sleep apnea testing devices for Type 3 sleep studies. ApneaTrak offers a customizable experience with non-proprietary inputs.
"North America represents one of the largest markets of home sleep apnea testing device market"
For a better understanding of the market dynamics of the home sleep apnea testing device market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the home sleep apnea testing device market industry owing to strong healthcare infrastructure and growing adoption of home sleep apnea testing devices in the region.
Reasons to buy this report:
The study includes market sizing and forecasting analysis validated by authenticated key industry experts
The report presents a quick review of overall industry performance at one glance
The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
The study comprehensively covers the market across different segments
Deep dive regional level analysis of the industry
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