The global sleep apnea diagnostic devices market size is anticipated to reach USD 502.9 million by 2027, expanding at a CAGR of 7.0%, according to a new report by Grand View Research, Inc. Growing incidence of sleep-related disorders and rising prevalence of Obstructive Sleep Apnea (OSA) in health conditions such as Chronic Obstructive Pulmonary Disorder (COPD) is positively impacting the market growth. Furthermore, increasing prevalence of comorbidities associated with the condition such as hypertension, diabetes, obesity, and cardiovascular diseases is anticipated to bolster revenue growth over the forecast period.
Based
on product type, the Polysomnography (PSG) segment dominated the market in 2019
with a revenue share of 60.0%. One of the major factors contributing to the
increase in product demand includes the development of new devices rendering
enhancement in performance. In addition, rising initiatives of insurance
coverage for some tests for adults based upon the clinical evaluation of OSA is
further propelling segment growth.
North
America dominated the market with a revenue share of 45.2% in 2019 owing to the
increasing incidence of the population suffering from OSA and other related
disorders. Furthermore, technologically advanced healthcare facilities and
better reimbursement facilities for such health conditions are boosting the
growth in the region. For instance, Medicare and Medicaid provide coverage for
certain diagnoses and treatment procedures related to OSA in the U.S. In
addition, the rising prevalence of OSA associated chronic health conditions is
further fueling the growth of the market.
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Sleep Apnea
Diagnostic Devices Market Report Highlights
- The market size is
anticipated to witness significant growth over the forecast period owing to
the increasing incidence of OSA related disorders
- The Polysomnography (PSG)
segment dominated the market and accounted for a revenue share of 60.0% in
2019, owing to the development of innovative devices with enhanced
performance
- North America dominated the
market with a revenue share of 45.2% in 2019, owing to the increasing
prevalence of population suffering from OSA related disorders,
availability of technologically advanced healthcare facilities, and better
reimbursement facilities for such health conditions.
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Sleep Apnea
Diagnostic Devices Market Segmentation
Grand View Research has segmented
the global sleep apnea diagnostic devices market based on product and region:
Sleep Apnea
Diagnostic Devices Product Outlook (Revenue, USD Million, 2016 - 2027)
- Actigraphs
- Polysomnography (PSG)
- Respiratory Polygraphs
- Pulse Oximeters
Sleep Apnea
Diagnostic Devices Regional Outlook (Revenue, USD Million, 2016 -
2027)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- Spain
- France
- Italy
- Russia
- Asia Pacific
- Japan
- China
- India
- South Korea
- Singapore
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East Africa
- Tunisia
- Egypt
- South Africa
List of Key Players
of Sleep Apnea Diagnostic Devices Market
- Natus Medical Incorporated
- SOMNOmedics GmbH
- Compumedics Limited
- Itamar Medical Ltd.
- Nihon Kohden Corporation
- Vyaire Medical, Inc
- CleveMed (Cleveland Medical
Devices Inc.)
- Cadwell Laboratories Inc.
- Koninklijke Philips N.V.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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