Market Research Future (MRFR) has published on the “Polysomnography Devices Market”
MRFR recognizes the following companies as the key players in the global Polysomnography Devices market— 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 global Polysomnography Devices market is accounted to register a CAGR of 4.90% during the forecast period and is estimated to reach USD 0.43 billion by 2032.
The primary market factors boosting market expansion are high prevalence of obstructive sleep apnea, increased numbers of sleep apnea-related comorbidities, and an aging population that is more susceptible to respiratory ailments. The availability of modern healthcare infrastructure, technological developments, growing patient awareness, and supporting reimbursement policies are some of the key factors driving the market's expansion.
The global Polysomnography Devices market has been segmented based type and application.
On the basis of type, the market is segmented into fixed polysomnography devices and portable polysomnography devices. The fixed polysomnography devices category dominated the global polysomnography devices market in 2022 with a revenue share of over 63.0%. This sizeable part can be attributable to the development of new technology that enhances performance.
Based on application, the global Polysomnography Devices market has been segmented into hospitals, diagnostic laboratories, homecare settings, and others. The segment for diagnostic laboratories had the most market share in 2022. However, over the course of the forecast period, the homecare settings segment is anticipated to grow at the highest CAGR due to the rising acceptance of home sleep testing among patients and insurance providers as well as the favorable reimbursement environment for this kind of testing.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Polysomnography Devices Market Research Report
The global Polysomnography Devices market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Polysomnography Devices market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Polysomnography Devices market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Polysomnography Devices market comprises of Middle East, Africa, and Latin America.
The largest market share for Polysomnography Devices was maintained by the North American regional sector. The increased patient populations with diabetes, COPD, and cardiovascular illnesses, as well as technologically improved healthcare facilities and better reimbursement choices in the region, are some of the key factors contributing to the market's growth.
Moreover, the Europe market has been persistently growing over the forecast period. The key factors driving regional growth include the growing senior population, the high prevalence of chronic sleep problems, the efficiency and affordability of business due to technological advancements, as well as the presence of reputable research institutes.
The Asia Pacific Polysomnography Devices market is expected to register fastest CAGR from 2023 to 2032. This is brought on by the expansion of the economy and the continual development of the healthcare system. Additionally, it is anticipated that market growth in the region would be fueled by an increase in OSA patients, the prevalence of respiratory conditions, and chronic illnesses including obesity and diabetes connected to sleep apnea.
Furthermore, the rest of the world's Polysomnography Devices market is divided into the Middle East, Africa, and Latin America. The market is primarily driven by the increasing prevalence of sleep disorders such as sleep apnea and insomnia, the growing awareness about the importance of sleep health, and the rising adoption of technologically advanced polysomnography devices.
Key Findings of the Study