Ambulatory Polysomnography (Psg) Systems Market Expected to Reach $570.7 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Ambulatory Polysomnography Systems Market," The ambulatory polysomnography systems market size was valued at $327.00 million in 2021, and is estimated to reach $570.7 million by 2031, growing at a CAGR of 6% from 2022 to 2031.

Ambulatory polysomnography systems are medical equipment that monitor and diagnose sleep disorders such sleep apnea, insomnia, and narcolepsy. In contrast to typical PSG systems, which require patients to spend the night in a sleep laboratory, ambulatory PSG systems allow patients to be monitored while sleeping in their own homes.

Sleep apnea is underdiagnosed in the elderly due to a lack of public awareness and a non-specific disease presentation. Sleep disorders may become more common as the population ages and lives longer. The WHO expects that two billion people would be 60 years of age or older by 2050. Over-60s will increase from 12% to 22% of the global population. OSA affects 13% to 32% of the elderly. Given the growing prevalence of sleep apnea among the elderly, it stands to reason that this demographic shift would result in increased treatment adoption. Because of comorbidities, sleep apnea is becoming more widespread among the elderly. A high over-60 population, as well as increased stoke and paralysis rates, are predicted to drive up the adoption of sleep apnea devices. These factors are predicted to boost the ambulatory polysomnography systems market share.

Despite the increasing frequency of the illness and sedentary lifestyle-related conditions worldwide, certain issues are limiting market expansion. Among these are the high costs of electronics. For OSA management, the CPAP (continuous positive airway pressure) and PSG (polysomnography) sleep apnea machines are the favored options. A PSG machine costs roughly USD 600 to USD 800 in the United States, making it prohibitively expensive without medical insurance. The infrastructure and reimbursement system in developed countries are well-established.

Due to the rising application of artificial intelligence in PSG systems, the market is expected to have a confident outlook. Ambulatory PSG sleep studies are becoming a useful diagnostic tool for sleep disorders It gathers each and every piece of information required for a complete sleep diagnostic investigation. By transferring sleep studies from the laboratory to the house, these devices give sleep clinics the flexibility of wireless and portable PSG systems, allowing them to treat more patients. Artificial intelligence is being used in the field of sleep diagnostics by manufacturers as a response to the trend towards home sleep examinations. This might be viewed as an opportunity for the ambulatory polysomnography systems industry to flourish.

The global ambulatory polysomnography systems market analysis is segmented on the basis of product, application, end user, and region. By product, the market is sub-segmented into up to 12 channel PSG systems, up to 24 channel PSG systems, up to 32 channel PSG systems, and above 32 channel PSG systems. By application the market is sub segment into obstructive sleep apnea, narcolepsy, chronic insomnia, and others. By end-user, the market is classified into hospitals, sleep laboratories, and home care settings. By region, the ambulatory polysomnography systems market size is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the ambulance Psg systems market report include Koninklijke Philips N.V., Natus Medical Incorporated, Nihon Kohden Corporation, Nox Medical, Löwenstein Medical Technology GmbH + Co. KG., neurosoft, Cadwell Industries Inc., SOMNOmedics GmbH, Compumedics Limited, and Neurovirtual / Sleepvirtual.

The report offers a comprehensive analysis of the global ambulatory polysomnography systems market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of Covid-19 on the Global Ambulatory Polysomnography Systems Industry

• The market for ambulatory polysomnography systems was significantly affected by the COVID-19 pandemic. Patients with obstructive sleep apnea (OSA) had a 2.93 times higher chance to be hospitalised when afflicted by COVID-19 than non-OSA persons, according to a study published in January 2021 in the BMJ Open Respiratory Research. The study also recommended that obstructive sleep apnea be acknowledged as one of the comorbidities for acquiring a severe form of the disease in the assessment of patients who were suspected or confirmed to have COVID-19 infection.
• COVID-19 changed and disrupted sleep patterns in a variety of ways, according to a report released by the Sleep Foundation Organisation in March 2022. According to the article, the prevalence of insomnia symptoms among adults, children, and adolescents increased substantially, with about 40% of people reporting difficulty sleeping. This rise in sleep disorders, even post-pandemic, is predicted to have an effect on sleep apnea in the coming years.

Key Findings of the Study

• Based on product, the up to 24 channel PSG systems sub-segment emerged as the global leader in 2021 and is anticipated to be the fastest growing sub-segment during the ambulatory polysomnography systems market forecast period.
• Based on application, the obstructive sleep apnea sub-segment emerged as the global leader in 2021, and the chronic insomnia sub segment is anticipated to be the fastest growing sub-segment during the ambulance Psg systems market forecast period.
• Based on end-use industry, the sleep laboratories sub-segment emerged as the global leader in 2021 and is predicted to show the fastest growth in the upcoming years.
• Based on region, the North America market registered the highest ambulatory polysomnography systems market share in 2021 and is projected to maintain the position during the forecast period.