Portland, OR, Dec. 16, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Sleep Apnea Diagnostics Market generated $290.50 million in 2020, and is anticipated to reach $545.09 million by 2030, manifesting a CAGR of 6.7% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
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Increase in prevalence of obesity across the globe, rise in the number of employees working in shifts in stressful work conditions, and technological developments in sleep apnea diagnostic devices fule the global sleep apnea diagnostics market. On the other hand, high cost of sleep apnea diagnostic devices and limited awareness among patients regarding sleep apnea create hindrances. On the contrary, untapped markets in emerging countries create lucrative market opportunities.
COVID-19 scenario:
- The restricted trade with other nations and travel restrictions caused a decline in diagnostics and surgical procedures in the first half of 2020.
- The pandemic caused disruption in the hospital services due to COVID-19.
- There has been a significant reduction in hospitals and sleep laboratory-based diagnoses of sleep apnea due to increased focus on treating COVID-19 patients.
- As the sleep labs were closed due to lockdown in many countries, it affected the sleep apnea diagnostics market.
The report segments the global sleep apnea diagnostics market on the basis of product, end-user, and region.
Based on product, the polysomnography device segment contributed to the highest market share in 2020, attributing to nearly one-third of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the actigraphy monitoring device segment is expected to manifest the fastest CAGR of 7.6% from 2021 to 2030.
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Based on end user, the hospitals & sleep laboratories segment contributed to the highest market share in 2020, attributing to more than three-fifths of the total market share, and is anticipated to lead during the forecast period. On the other hand, the home care settings segment is expected to manifest the fastest CAGR of 7.3% from 2021 to 2030.
Based on region, North America contributed to the highest share in 2020, holding more than two-fifths of the total share, and is expected to lead during the forecast period. The global sleep apnea diagnostics market across the Asia-Pacific region is anticipated to exhibit the fastest CAGR of 8.9% during the forecast period.
Key players of the global sleep apnea diagnostics market analyzed in the research Cadwell Industries Inc, Devilbiss Healthcare, Koninklijke Philips N.V., Mindray Medical International Limited, Nihon Kohden Corporation, Resmed Inc, Smiths Group Plc, Medtronic Plc, Somnomedics Gmbh, and Natus Medical Incorporated.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
