Home Sleep Apnea Testing Devices Market size to exceed USD 3.3 million by 2030

Home Sleep Apnea Testing Devices Market size is set to reach USD 3.3 billion by 2030, according to a new research report by Global Market Insights Inc.
 

The report cites that the rapidly aging population will be a prominent factor driving the home sleep apnea testing devices industry expansion. Aging is associated with marked changes in sleep parameters. According to the World Health Organization, the number of people aged around 60 years is expected to reach 1.3 billion by 2050. The expansion of the elderly population will contribute to the growing prevalence of sleep disorders, including insomnia and sleep-related breathing ailments. With the access to quality healthcare services becoming easier, the popularity of home testing devices for sleep apnea will further increase.
 

Clinical complications to restrict the home sleep apnea testing devices market growth

Despite the favorable business landscape, factors such as adverse clinical consequences and the potential development of sleep disorders may assert a negative influence on home sleep apnea testing device industry progress over the forthcoming years. The report also identifies the risks of abnormal physiology due to untreated and undetected sleep diseases. This condition, in turn, may lead to severe complications including increased risks of stroke, cardiovascular diseases, high blood pressure, and metabolic ailments.
 

Browse key industry insights spread across 95 pages with 69 market data tables & 12 figures & charts from the report, “Home Sleep Apnea Testing Devices Market Analysis By Test Type (Type 2, Type 3, Type 4), Industry Analysis Report, Regional Outlook, Application Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/home-sleep-apnea-testing-devices-market
 

Type 2 home sleep apnea testing devices to gain popularity due to R&D initiatives

The type 2 segment is anticipated to be valued at USD 299 million by 2030, given the high preference for the test for sleep disease diagnosis. Over the years, the prevalence of sleep disorders and their related co-morbidities is increasing considerably. This situation has encouraged major industry players to indulge in research and development activities to design innovative type 2 home sleep testing equipment.
 

Europe to emerge as a lucrative revenue pocket for sleep apnea test developers

Europe home sleep apnea testing devices market is projected to depict a CAGR of 15.9% through 2030, driven by the high adoption of minimally invasive treatment. According to 2018 German Sleep Society studies, chronic sleep diseases impacted 4.8 million individuals in the country. Patients are also increasingly opting for advanced at-home sleep apnea tests. As a result of the growing awareness about home healthcare services and the burden of sleep-related diseases, the regional industry share will witness a major upsurge over the forecast period.
 

Innovative device launch strategies to strengthen home sleep apnea testing devices market outlook

Some of the key market players profiled in the report include Compumedics Limited, Cadwell Laboratories Inc., CleveMed, Contec Medical Systems, Itamar Medical Inc., Koninklijke Philips N.V., Natus Medical Inc., Neurosoft, NeuroVirtual/SleepVirtual, Nihon Kohden Corporation, Nox Medical, Resmed, SleepMed, and SOMNOmedics GmbH, among others. Industry players are also undertaking merger, acquisition, and collaboration initiatives to expand their foothold across the global market.
 

The competitive landscape of the market is slated to witness a series of product launches by industry players. For instance, in June 2021, Itamar Medical Ltd. unveiled WatchPAT ONE with SleepPath, designed to provide sleep health developers seamless access to digital documentation in a report that combines patient self-reported data and sleep study metrics. This strategic move was intended to help the company drive its product sales globally.