Enjoy complimentary customisation on priority with our Enterprise License!
The polysomnography devices market size is forecast to increase by USD 171.76 million, at a CAGR of 6.55% between 2023 and 2028. The growth of the market depends on several factors, including a favorable reimbursement scenario, increasing prevalence of sleep apnea, especially OSA, and benefits of polysomnography.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Download Report Sample
The benefits of polysomnography are notably driving the market growth, although factors such as lack of public awareness about sleep apnea and shortage of medical lab technicians may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The benefits of polysomnography are notably driving market growth. The process of safe sleep diagnostic test is called Polysomnography. It is non-invasive and causes little to no discomfort and pain to the patient. While the patient is asleep this process records the brain wave activity, heart rate, blood oxygen levels, and breathing as well as eye and leg movements. It can also detect any disruptions in normal sleep, thereby helping doctors to diagnose any sleep abnormalities and formulate a targeted treatment plan.
As it provides valuable information about both brain and body activity during sleep, Polysomnography is considered the gold standard for the diagnosis of OSA. Furthermore, another advantage of this test is the continuous presence of the technician to adjust the signals for optimal recording. Moreover, technological advances have enabled limited polysomnography to be performed with portable monitoring devices at home. Therefore, these factors are likely to drive the growth of the global market during the forecast period.
Increasing adoption of home healthcare and telemedicine by patients is an emerging trend in the market. Healthcare services that are provided to patients at their doorstep to make them feel comfortable are growing. Patients are not required to stay in a hospital to receive quality nursing care and, instead, can recover in the privacy of their homes while receiving one-on-one attention from health service providers. This makes home healthcare a smart solution to help older adults to recover while lowering in-hospital costs.
Moreover, telemedicine's (TM) popularity is also increasing across the world. TM uses information technology (IT) and electronic communication to carry out diagnosis, treatment, and management of various diseases and conditions. Such methods are also used for managing OSA, which is a chronic disorder that is responsible for a significantly high rate of morbidity (especially cardiometabolic) and mortality. Therefore, such factors will have a positive impact on the growth of the global market during the forecast period.
Lack of public awareness about sleep apnea and shortage of medical lab technicians are major challenges impeding the market growth. People diagnosed with moderate-to-severe OSA have insufficient knowledge about the condition. This reduces the treatment rate of such sleep disorders. Thus, creating awareness about sleep disorders such as OSA requires considerable efforts in educating the public.
Furthermore, one of the major issues is the lack of enough medical laboratory technologists. Irrespective of the high demand for healthcare technologists there is a huge shortage of such specialists. Moreover, while the increased demand for healthcare and the aging population is leading to rapid advances in medical diagnostics, the world is facing a gradual rise in the shortage of skilled lab technicians. Therefore, these factors will hinder the global market growth during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Advin Health Care - The company manufactures products such as medical equipment, hospital supplies, and surgical instruments. The key offerings of the company include offer polysomnography devices.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative market growth analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the hospitals segment will be significant during the forecast period. Hospitals have in-house laboratories where patients with sleep disorders can undergo diagnostic tests. Hospital-based treatment is superior to home-based treatment due to the availability of specialized technicians and equipment, which is beneficial in times of emergency.
Get a glance at the market contribution of various segments Request a PDF Sample
The hospitals segment was valued at USD 131.61 million in 2017 and continued to grow until 2021. A hospital-based sleep facility is equipped to handle patients who have sleep disorders along with serious health issues, such as obstructive respiratory issues, cardiac issues, or obesity. They also offer more different options for patients, such as wedge pillows or reclining chairs, than standalone sleep centers. Additionally, they also provide special beds and furniture for extremely obese patients and 24-hour emergency assistance for all patients in the form of rapid response teams, who are trained to provide immediate help to patients when required. Therefore, hospitals are sufficiently equipped with all the latest and most advanced machines when compared with other healthcare facilities. Moreover, hospitals have doctors belonging to almost all specialties, which, in turn, ensures that they are accessible to patients whenever needed. Hence, the hospital segment will boost the global market growth during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Owing to the growing prevalence of sleep apnea, the market in the US is expanding. Major factors such as aging and obesity increase the risk of having sleep disorders among people. Additionally, North America also accounts for several companies of such devices, such as Natus Medical Inc. (Natus Medical), Cadwell Industries, ResMed, Neurovirtual, Cleveland Medical Devices Inc. (Cleveland Medical Devices), and Vyaire Medical Inc. (Vyaire Medical). Therefore, the increasing prevalence of OSA, because of factors like the rise in the aging population and obesity and the increasing number of sleep clinics, make the market in North America the highest revenue contributor to the global market.
The report forecasts market growth by revenue at global, regional & country levels and provides a market research and growth analysis of the latest market trends and growth opportunities from 2017 to 2027.
The market addresses various allied health disorders, including Chronic Obstructive Pulmonary Disorder (COPD), insomnia, daytime drowsiness, and nightmares. Within this market segment, there is a distinction between fixed polysomnography devices and portable polysomnography devices. The use of these devices extends to home sleep testing, providing a comprehensive approach to diagnosing and monitoring sleep-related conditions. As awareness of the importance of sleep health grows, the market plays a vital role in facilitating accurate and effective diagnostic procedures, contributing to improved patient outcomes. The market's focus on both fixed and portable solutions aligns with the evolving landscape of healthcare, catering to diverse needs and preferences in diagnostics and monitoring for sleep disorders.
Polysomnography Devices Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.55% |
Market growth 2023-2027 |
USD 171.76 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.15 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Advin Health Care, BMC Medical Co. Ltd., Cadwell Industries Inc., Cleveland Medical Devices Inc., Compumedics Ltd., Contec Medical Systems Co. Ltd., Genotronics, Koninklijke Philips NV, Lowenstein Medical Technology GmbH and Co. KG, MEDATEC Medical Data Technology SPRL BVBA, Medicom MTD Ltd, Natus Medical Inc., Neurosoft, Neurovirtual USA, Nihon Kohden Corp., Nox Medical, Recorders and Medicare Systems Pvt Ltd., ResMed Inc., SOMNO medics GmbH, and Vyaire Medical Inc. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.