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Global Polysomnography Devices Market Size was valued at USD 0.21 Billion in 2022. The Polysomnography Devices market industry is projected to grow from USD 0.24 Billion in 2023 to USD 0.43 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.20% during the forecast period (2023 - 2032). High rates of obstructive sleep apnea, rising numbers of sleep apnea-related comorbidities, and an aging population that is more susceptible to respiratory diseases, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
One of the significant drivers of the market's growth are the availability of sophisticated healthcare infrastructure, technological advancements, rising patient awareness, and supportive reimbursement policies. Additionally, the rise in home sleep test procedures is anticipated to increase demand for simple-to-use solutions that don't need a doctor's help. In order to drive market growth over the forecast period, firms are concentrating on the development of new polysomnography devices with enhanced performance.
The Centers for Disease Control and Prevention (CDC) claim that because sleep problems are so prevalent in the United States, they have reached epidemic proportions. Nearly 50 million people in the nation said they had trouble focusing throughout the day, 24 million said driving was hampered by sleepiness, and 18 million said their ability to do their jobs was compromised. Thus, it is predicted that the market for polysomnography devices would develop in the near future as incidences of sleep disorders increase.
One of the main causes of the expanding demand for polysomnography equipment is also the rising prevalence of allied health disorders linked to OSA, such as diabetes, hypertension, obesity, and cardiovascular illnesses. The severity of allied health disorders is also expected to worsen, which will raise awareness of diagnosis and treatment and contribute to the market's growth in the years to come. Actigraphy sensors and polysomnography equipment are now often used in therapeutic treatment regimens. Additionally, the top market players' new product releases and technical advances are helping the market under study flourish. For instance, a study published in November 2022 in the journal Nature and Science of Sleep suggested that the revolutionary deep-learning method OSAnet would be practical for the detection and identification of obstructive sleep apnea in home-based devices. A method that can be used to assess and screen for OSA is based on sleep sounds captured by a non-contact voice recorder.
The prevalence of Chronic Obstructive Pulmonary Disorder (COPD) is rising, which has a favorable effect on consumer demand for these goods. The American Thoracic Society claims that individuals with COPD had a 50.0% higher rate of insomnia, daytime drowsiness, nightmares, and disturbed sleep than OSA patients. Thus, driving the Polysomnography Devices market revenue.
The global Polysomnography Devices market segmentation, based on Type, includes fixed polysomnography devices and portable polysomnography devices. With a revenue share of more than 63.0% in 2022, the fixed polysomnography devices segment led the global polysomnography devices market. This significant portion can be attributed to the advancement of new gadgets that result in performance improvements. Additionally, the portable polysomnography devices sector is likely to develop at the highest rate and experience considerable growth throughout the forecast period. This rise can be attributed to its affordability and capacity to assess the patient's condition outside of sterile laboratory settings.
The global Polysomnography Devices market segmentation, based on Application, includes hospitals, diagnostic laboratories, homecare settings, and others. In 2022, the diagnostic laboratories market segment held the greatest market share. However, the homecare settings segment is anticipated to experience the greatest CAGR growth over the course of the forecast period due to the rising popularity of home sleep testing among patients and insurance providers as well as the advantageous reimbursement environment for this type of testing.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Polysomnography Devices Market dominated the global market in 2022 with 45.80% share. Some of the major drivers of the market growth include the rising prevalence of sleep disorders, expanding patient populations with diabetes, COPD, and cardiovascular diseases, as well as technologically advanced healthcare facilities and better reimbursement options in the area. Further, the U.S. Polysomnography Devices market held the largest market share, and the Canada Polysomnography Devices market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Europe Polysomnography Devices market accounts for the second-largest market share. The expanding senior population, the high prevalence of chronic sleep disorders, the efficiency and affordability of the business due to technology advancements, as well as the presence of well-established research institutes, are the main drivers of regional growth. Further, the German Polysomnography Devices market held the largest market share, and the U.K Polysomnography Devices market was the fastest growing market in the European region
The Asia Pacific Polysomnography Devices market is expected to register fastest CAGR from 2023 to 2032. This is due to the economy's growth and the healthcare system's ongoing improvement. Additionally, throughout the forecast period, a rise in the number of OSA patients as well as the frequency of respiratory ailments and chronic illnesses like obesity and diabetes linked to sleep apnea are projected to drive market expansion in the area. Moreover, China’s Polysomnography Devices market held the largest market share, and the Indian Polysomnography Devices market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Polysomnography Devices market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Polysomnography Devices industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Polysomnography Devices industry to benefit clients and increase the market sector. In recent years, the Polysomnography Devices industry has offered some of the most significant advantages to medicine. Major players in the Polysomnography Devices market, including CleveMed, Nox Medical, SOMNOmedics GmbH, ResMed, Cidelec, Vyaire Medical, Koninklijke Philips, Natus Medical, BMC Medical, Recorders & Medicare Systems, CleveMed, Medicom MTD, Dr. Langer Medical, Compumedics, Neurovirtual, Contec Medical Systems, and Shanghai NCC Medical, are attempting to increase market demand by investing in research and development operations.
For the diagnosis, treatment, and management of respiratory disorders such sleep disordered breathing (SDB), sleep apnea, and chronic obstructive pulmonary disease (COPD), ResMed Inc. (ResMed) designs, produces, and distributes medical equipment. Air flow generators such as CPAP machines, auto-bilevel machines, VPAP machines, APAP machines, humidifiers, and ventilation products are among its main products, along with masks, headgear, accessories, motors, diagnostic products, and data/patient management products. It also produces masks, headgear, and other protective gear. The business offers its goods to third party payers, home healthcare providers, and sleep clinics. In the Americas, Europe, and Asia-Pacific, it conducts business through a network of fully owned subsidiaries, direct offices, and independent distributors. The United States' ResMed has its headquarters in San Diego, California. ResMed paid $300 million to acquire Healthdyne Technologies in June 2022. ResMed will have access to Healthdyne's sleep apnea products through the acquisition, including its Sleep EasyTM continuous positive airway pressure (CPAP) system.
Koninklijke Philips NV (Philips) is a diversified technology firm that creates and produces consumer electronics and medical solutions. Diagnostic imaging, enterprise diagnostic informatics, image-guided therapy, ultrasound, monitoring and analytics, sleep and respiratory care, population health management, linked care informatics, and therapeutic care are all sectors in which the business provides products and solutions. Products available include power toothbrushes, brush heads, infant bottles, sterilizers, breast pumps, shavers, groomers, trimmers, and items for skin, hair, and hair removal. It also sells personal care and dental healthcare items. The corporation operates in North America, Europe, and the Asia-Pacific region. The corporate headquarters of Philips are located in North Brabant, the Netherlands. Philips paid $5.1 billion to acquire Respironics, Inc. in August 2022. Philips will get access to Respironics' CPAP and BiPAP equipment as a result of the acquisition.
· CleveMed
· Nox Medical
· SOMNOmedics GmbH
· ResMed
· Cidelec
· Vyaire Medical
· Koninklijke Philips
· Natus Medical
· BMC Medical
· Recorders & Medicare Systems
· CleveMed
· Medicom MTD
· Dr. Langer Medical
· Compumedics
· Neurovirtual
· Contec Medical Systems
· Shanghai NCC Medical
May 2022: ProSomnus, a pioneer in OSA-treating medical devices that are popular with patients, and Lakeshore Acquisition Corp., a firm that specializes in acquisitions, have signed a formal merger agreement. When the deal is done, the combined company is expected to be called ProSomnus Inc., and its Class A common stock is expected to list on the Nasdaq Capital Market under the symbol "OSA."
April 2022: The Onera STS I non-invasive patch-based clinical-grade small medical device for polysomnography, created by Onera Health to diagnose sleep problems in patients in hospitals, sleep labs, or at home, has obtained approval from the US Food and Drug Administration.
· Fixed Polysomnography Devices
· Portable Polysomnography Devices
· Hospitals
· Diagnostic Laboratories
· Homecare Settings
· Others
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 0.21 Billion |
|
Market Size 2023 |
USD 0.24 Billion |
|
Market Size 2032 |
USD 0.43 Billion |
|
Compound Annual Growth Rate (CAGR) |
5.20% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Type, Application, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
CleveMed, Nox Medical, SOMNOmedics GmbH, ResMed, Cidelec, Vyaire Medical, Koninklijke Philips, Natus Medical, BMC Medical, Recorders & Medicare Systems, CleveMed, Medicom MTD, Dr. Langer Medical, Compumedics, Neurovirtual, Contec Medical Systems, and Shanghai NCC Medical |
|
Key Market Opportunities |
Increasing number of people suffering from obstructive sleep apnea |
|
Key Market Dynamics |
High prevalence of obstructive sleep apnea, increased cases of comorbidities associated with sleep apnea, and growing geriatric population which is prone to respiratory disorders |
The global Polysomnography Devices market size was valued at USD 0.21 Billion in 2022.
The global market is projected to grow at a CAGR of 5.20% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are CleveMed, Nox Medical, SOMNOmedics GmbH, ResMed, Cidelec, Vyaire Medical, Koninklijke Philips, Natus Medical, BMC Medical, Recorders & Medicare Systems, CleveMed, Medicom MTD, Dr. Langer Medical, Compumedics, Neurovirtual, Contec Medical Systems, and Shanghai NCC Medical
The Fixed Polysomnography Devices Type dominated the market in 2022.
The Diagnostic Laboratories Application had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65329
Published on :
Sep 2023
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