December 24, 2019
According to a latest research report titled ‘Home Sleep Apnea Testing Devices Market Size By Portability (Portable Devices, Stationary Devices), By Structure (Wired Devices, Non-wired Devices), By Device Type (Type 1, Type 2, Type 3, Type 4), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Belgium, Greece, Netherlands, Norway, Portugal, Romania, Russia, Sweden, Turkey, Switzerland, Japan, China, India, Australia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025’, available on MarketStudyReport.com, the global home sleep apnea testing devices market is slated to surpass USD 1.4 billion by 2025.
A rise in the number of people suffering from sleep apnea as well as its associated disorders is slated to be a major determinant that would likely fuel market expansion. In fact, according to the World Health Organization, occurrence of sleep apnea throughout the world has increased tenfold from approximately 100 million back in 2007 to more than 1 billion in 2019.
This significant jump in the number if individuals suffering from this disorder all across the world is set to foster adoption of home-based sleep apnea testing devices, accelerating industry expansion in the process.
With respect to device type the industry is bifurcated into type 4, type 3, type 2 and type 1 devices. Among these, the type 3 device market is projected to witness momentous growth. In fact, the type 3 segment was valued at USD 310 million in 2018.
Lower device costs as compared to polysomnography (PSG) devices, and extreme efficiency and effectiveness in obstructive sleep apnea diagnosis are some of the most prominent determinants driving segment outlook.
From a regional frame of reference, the Canada home sleep apnea testing devices market is expected to record an impressive growth of over 19% CAGR during the forecast timeframe. According to a recent study by Public Health Agency of Canada, at present more than 5.5 million adults across Canada are either at a significantly high risk of developing the disorder or are already suffering from the same.
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Some of the most prominent industry players operating across the industry landscape on a global level include companies like Koninklijke Philips, Itamar Medical, Nox Medical, Natus Medical, SOMNOmedics, ResMed and SleepMed.
These companies are actively implementing several innovative strategies in an effort to expand their respective geographic reach and further consolidate their current product portfolio.
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