Polysomnography Devices Market Analysis

Global Polysomnography Devices Market Overview

The Polysomnography Devices Market Size was valued at USD 0.28 Billion in 2022 and is projected to grow from USD 0.29 Billion in 2023 to USD 0.43 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.90% 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.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Polysomnography Devices Market Trends

• Increasing patient awareness is driving the market growth

One of the significant drivers of the market's growth is 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.

Polysomnography Devices Market Segment Insights

Polysomnography Devices Type Insights

The Market segments of Polysomnography Devices, 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 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.

Polysomnography Devices Application Insights

The Polysomnography Devices Market segmentation, based on Application, includes hospitals, diagnostic laboratories, homecare settings, and others. In 2022, the diagnostic laboratories 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.

Figure 1: Polysomnography Devices Market, by Application, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Polysomnography Devices Regional Insights

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. market of Polysomnography Devices held the largest market share, and the Canada market of Polysomnography Devices 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.

Figure 2: POLYSOMNOGRAPHY DEVICES MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR 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 market of Polysomnography Devices held the largest market share, and the U.K market of Polysomnography Devices 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 market of Polysomnography Devices held the largest market share, and the Indian market of Polysomnography Devices was the fastest growing market in the Asia-Pacific region.

Polysomnography Devices Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the market of Polysomnography Devices, 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.

Key Companies in the Market of Polysomnography Devices Include

• CleveMed


• Nox Medical


• SOMNOmedics GmbH


• ResMed


• Cidelec


• Vyaire Medical


• Koninklijke Philips


• Natus Medical


• BMC Medical


• Recorders & Medicare Systems


• CleveMed


• Medicom MTD


• Langer Medical


• Compumedics


• Neurovirtual


• Contec Medical Systems


• Shanghai NCC Medical

Polysomnography Devices Industry Developments

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.

Polysomnography Devices Market Segmentation

Polysomnography Devices Type Outlook

• Fixed Polysomnography Devices


• Portable Polysomnography Devices

Polysomnography Devices Application Outlook

• Hospitals


• Diagnostic Laboratories


• Homecare Settings


• Others

Polysomnography Devices Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America