Sleep apnea screening devices are used to analyze daytime sleepiness, snoring, breathing interruptions, mid sleep awakenings, and other respiratory related events.

Statistics:

The global Sleep Apnea Diagnostic System Market is estimated to account for US$ 14,639.7 Mn in terms of value by the end of 2027.

Global Sleep Apnea Diagnostic System Market: Drivers

Increasing demand for home sleep testing is expected to propel growth of the global sleep apnea diagnostic system market over the forecast period. This is owing to high expanses involved in in-lab sleep testing. For instance, in the U.S., average cost of in-lab polysomnography is around US$ 3,500, while that for home sleep testing is around US$ 500, including wearable device, prices of which can vary depending on the provider.

Market Opportunities

High incidence of sleep apnea in emerging economies is expected to offer lucrative growth opportunity for players in the global sleep apnea diagnostic system market. For instance, according to the study, ‘Prevalence of Obstructive Sleep Apnea in An Indian Population: Using Stopbang Questionnaire,’ published in the Asian Journal of Pharmaceutical and Clinical Research, in November 2018, the prevalence of obstructive sleep apnea was found to be 13.7% in the study population.

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Market Restraints

Increasing preference for conventional methods and symptomatic treatment options is expected to hinder growth of the market. Majority of patients suffering from sleep apnea do not know the difference between general sleeping disorder and normal snoring problems. Moreover, most patients are inclined towards symptomatic treatment. This is projected to inhibit growth of the market.

Key Takeaways:

The Sleep Apnea Screening Devices segment in the global sleep apnea diagnostic system market was valued at US$ 2,016.6 Mn in 2019 and is expected to reach US$ 3,471.8 Mn by 2027 at a CAGR of 7.0% during the forecast period. The growth of the segment is attributed to increasing incidence of sleep apnea disorder in developed and developing economies during the forecasted period.

The Sleep Centers and Clinics segment held dominant position in the global sleep apnea diagnostic system market in 2019, accounting for 39.6% share in terms of vakue, followed by homecare settings, respectively. Increasing demand and efficacy of home sleep testing (HST) test solutions is expected to assist the growth of the segments during the forecasted period.

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Market Trends

One of the main components contributing to sleep apnea is obesity. Therefore, increasing adoption of sleep apnea testing among obese individuals and high prevalence of obesity is boosting growth of the market. For instance, according to MedAlertHelp.org, over 1.9 billion adults were reported as overweight worldwide.

In Latin America, lack of awareness regarding the benefits of sleep apnea diagnosis is hindering growth of the market. Penetration of advanced sleep diagnostic products is interspersed across Latin America, due to lack of effective research activities in the region regarding the diagnostic devices and lack of basic knowledge regarding sleep testing services. Lack of local clinical guidelines and dearth of supportive public and private policies for sleep medicines is also impacting adoption of sleep testing services in Latin American countries.

Global Sleep Apnea Diagnostic System Market: Competitive Landscape

Major players operating in the global sleep apnea diagnostic system market include, Koninklijke Philips N.V., SOMNOmedics GmbH, Advanced Brain Monitoring, Inc., Braebon Medical Corporation, Becton, Dickinson and Company, Itamar Medical Ltd., FusionHealth, MGC Diagnostics Corporation, Natus Medical Incorporated, SleepMed, Cleveland Medical Devices Inc., BMC Medical Co, Ltd., and ResMed Inc.

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