Globe Newswire07.01.21
Data from Market Study Report LLC indicates the global sleep apnea diagnostics market size was valued at $112.9 million in 2019 and is expected to record 6.8 percent annual growth over the next six years, amassing $191.1 million by 2027.
Moving ahead, the report hosts intricate details about this business sphere through various segments such as type, application, and geographical bifurcation. All factors contributing to each segment's development are considered when determining the best growth avenues for the upcoming years. Moreover, the major contenders are profiled with respect to their investment discretion, positioning, and other financial attributes.
Technological advancements in the field and increasing pervasiveness of sleep apnea owing to booming elderly population are key factors driving the market growth.
For the record, a study conducted by ResMed Inc. in 2018, sleep apnea affected over 936 million people worldwide, depicting a ten times higher count than previous estimates. In addition, the European Respiratory Society predicted that sleep apnea will affect 13 percent to 32 percent of Europe's aging population by 2020.
Notably, sleep-disordered breathing (SDB) or sleep apnea is a potentially serious sleep condition in which inhaling of oxygen stops and starts frequently. It happens when the upper airway gets clogged while sleeping, resulting in reduced airflow.
As a result, patients with sleep apnea are opting for a sleep apnea test, which is a highly simplified breathing monitoring solution that can track breathing and oxygen levels while a person sleeps, adding impetus to the overall market development.
Additionally, actigraphy devices are gaining traction in the global sleep apnea diagnostics industry. It is a wearable device worn on the wrist that detects physical activity and provides objective information on sleep patterns in the patients' normal sleeping environment.
Coming to the factors restraining the market expansion, lack of reimbursement for the devices along with their high cost are likely to hamper business dynamics in the upcoming years.
Speaking of the geographical ambit, Latin America, Europe, North America, and Asia Pacific are the top contributors to the overall sleep apnea diagnostics market value. Among them, North America holds a major portion of the industry share owing to better accessibility to reimbursement facilities, strong presence of major vendors, and technologically developed healthcare facilities.
Meanwhile, Asia Pacific sleep apnea diagnostics industry is poised to amass notable gains through 2027, creditable to economic progress in developing nations like India and China, improving healthcare infrastructure, and rising prevalence of sleep apnea disorder.
Moving ahead, the report hosts intricate details about this business sphere through various segments such as type, application, and geographical bifurcation. All factors contributing to each segment's development are considered when determining the best growth avenues for the upcoming years. Moreover, the major contenders are profiled with respect to their investment discretion, positioning, and other financial attributes.
Technological advancements in the field and increasing pervasiveness of sleep apnea owing to booming elderly population are key factors driving the market growth.
For the record, a study conducted by ResMed Inc. in 2018, sleep apnea affected over 936 million people worldwide, depicting a ten times higher count than previous estimates. In addition, the European Respiratory Society predicted that sleep apnea will affect 13 percent to 32 percent of Europe's aging population by 2020.
Notably, sleep-disordered breathing (SDB) or sleep apnea is a potentially serious sleep condition in which inhaling of oxygen stops and starts frequently. It happens when the upper airway gets clogged while sleeping, resulting in reduced airflow.
As a result, patients with sleep apnea are opting for a sleep apnea test, which is a highly simplified breathing monitoring solution that can track breathing and oxygen levels while a person sleeps, adding impetus to the overall market development.
Additionally, actigraphy devices are gaining traction in the global sleep apnea diagnostics industry. It is a wearable device worn on the wrist that detects physical activity and provides objective information on sleep patterns in the patients' normal sleeping environment.
Coming to the factors restraining the market expansion, lack of reimbursement for the devices along with their high cost are likely to hamper business dynamics in the upcoming years.
Speaking of the geographical ambit, Latin America, Europe, North America, and Asia Pacific are the top contributors to the overall sleep apnea diagnostics market value. Among them, North America holds a major portion of the industry share owing to better accessibility to reimbursement facilities, strong presence of major vendors, and technologically developed healthcare facilities.
Meanwhile, Asia Pacific sleep apnea diagnostics industry is poised to amass notable gains through 2027, creditable to economic progress in developing nations like India and China, improving healthcare infrastructure, and rising prevalence of sleep apnea disorder.
