According to the latest research by InsightAce Analytic, the global Sleep Apnea and Respiratory Monitoring Devices market is valued at US$ 6.68 Billion in 2021, and it is expected to grow with a CAGR of 7.06% during a forecast period of 2022-2030. Sleep apnea is a sleep disorder in which a person's breathing is interrupted during sleep. Two types of sleep apnea are obstructive sleep apnea and central sleep apnea. If sleep apnea is left untreated, it may lead to diabetes, High blood pressure, Headaches, depression, Heart failure, and stroke. Respiratory monitoring plays an essential role in treating respiratory diseases, such as acute respiratory failure, chronic obstructive pulmonary disease (COPD), and asthma. Increasing demand for devices instead of surgeries will boost the sleep apnea and respiratory monitoring devices market growth over the forecast years.
High prevalence of sleep apnea and respiratory diseases, increasing geriatric population, changing lifestyle patterns, improper sleep patterns, and adoption of advanced technologies are driving the growth of this market. Moreover, rising awareness about sleep apnea and respiratory diseases is helping to enhance this business. Whereas, the high cost of systems, poor medical reimbursement policies, and shortage of skilled professionals are limiting the growth of this market.
The sleep apnea and respiratory monitoring devices market can be segmented on the basis of products, End-Users, and Regions. On the basis of products, the market can be sub-divided into Polysomnography Device (PSG), Sleep Apnea Screening Device, Actigraphy Monitoring Device, Respiratory Polygraph, Peak Flow Meters, Gas Analyzers, Oximeter/Finger-Tip Oximeter, and Other Products. Polysomnography Device (PSG) segment has dominated the market and is expected to continue its trend over the forecast period, as the polysomnography device plays an important role in treating sleep apnea. Also, during treatment, it records data for multiple parameters such as patient’s brain waves, the oxygen level in the blood, heart rate and breathing, and eye and leg movements. On the basis of End-Users, the market is sub-segmented into Hospitals & Sleep Laboratories, Home Care Settings, and Other End-Users. The hospitals & Sleep Laboratories segment is expected to dominate this market, due to the increasing preference of patients to visit hospitals & sleep laboratories and the easy availability of necessary devices. In terms of geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Out of these regions, North America is expected to dominate the market over the forecast period (2020-2030).
Some of the key Players of sleep apnea and respiratory monitoring devices market are DeVilbiss Healthcare LLC., Koninklijke Philips N.V., Medtronic plc, Mindray, Natus Medical Incorporated, Nihon, Kohden Corporation, ResMed, Smiths Medical, SOMNOmedics America Inc., Itamar Medical Ltd., Cleveland Medical Devices, Inc., Compumedics Ltd., Fisher & Paykel Healthcare Limited, Vyaire Medical, Inc., Becton, Dickinson and Company, BMC Medical Co., Ltd., and list of Other Prominent Players.
