Global Ambulatory Polysomnography (PSG) Systems Market to Experience Noteworthy Growth with the Increasing Awareness About Sleep Disorders

In today’s fast-paced world, many people lead hectic lives that might interrupt their sleep habits and contribute to sleep disorders. Poor sleep can have a negative impact on one’s overall health and wellbeing. Hence, sleep disorders must be diagnosed in order to identify and address the underlying issues that can interrupt sleep and have a substantial influence on general well-being. This is where the ambulatory polysomnography (PSG) system solution comes in.

The ambulatory polysomnography (PSG) systems market is continuously evolving with new technological advancements and innovations. Ambulatory PSG systems are rapidly being connected with telemedicine platforms, enabling remote monitoring and analysis of sleep data. This has allowed healthcare providers to deliver rapid and accurate diagnoses and treatment recommendations without requiring in-person visits. Moreover, several healthcare systems have boosted reimbursement for home sleep testing using the ambulatory PSG system. This has simplified the installation of the ambulatory PSG system by healthcare professionals and expanded patient access to sleep disorder diagnosis.

Newest Insights in the Ambulatory Polysomnography (PSG) Systems Market

As per a report by Research Dive, the global ambulatory polysomnography (PSG) systems market is expected to grow at a CAGR of 6.0% and generate revenue of $570.7 million by 2031. The primary factors driving the growth of the market are the growing need for portable PSG systems that may be used outside of clinical institutions, increased technological improvements, and the rising desire for precise and effective diagnostic tools to aid healthcare professionals in detecting and treating sleep disorders. However, the high cost of ambulatory polysomnography (PSG) systems is expected to hinder the market growth.

The ambulatory polysomnography (PSG) systems market in North America is expected to remain dominant in the coming years. The region's high revenue in 2021 was driven by the increasing awareness of the importance of early detection and treatment of sleep disorders among patients and healthcare professionals. This has led to an increased demand for advanced diagnostic tools and technology that can reliably test and monitor sleep disorders in a simpler and less costly manner.

How are Market Players Responding to the Rising Demand for Ambulatory Polysomnography (PSG) Systems?

Market players are responding to the rising demand for ambulatory polysomnography (PSG) systems by investing in research and development to create more advanced and user-friendly PSG systems. They are also expanding their product lines and partnering with healthcare organizations to deliver comprehensive sleep diagnostic solutions.

In addition, market players are increasingly focusing on strategic partnerships and collaborations with other players in the industry to leverage their strengths and expand their reach. Some of the foremost players in the ambulatory polysomnography (PSG) systems market are Natus Medical Incorporated, Koninklijke Philips N.V., Nihon Kohden Corporation, Nox Medical, Neurosoft, Löwenstein Medical Technology GmbH + Co. KG., Cadwell Industries Inc., Compumedics Limited, SOMNOmedics GmbH, Neurovirtual / Sleepvirtual, and others. These players are focused on implementing strategies such as mergers and acquisitions, novel developments, collaborations, and partnerships to reach a leading position in the global market. 

For instance:

• In January 2020, Fusionhealth, a sleep health company, and Nox Medical, a global leader in the sleep diagnostic technology space, partnered to set up Nox Health, a business that will concentrate on developing treatments for all sleep-related health conditions, such as circadian abnormalities, sleep apnea, insomnia, and restlessness.
   
• In August 2020, SOMNOmedics GmbH, the firm for sleep and neurodiagnosis, acquired FDA approval to use SOMNOscreen Plus, SOMNOscreen HD, and SOMNOscreen Eco in children as young as 2 years old.
   
• In October 2021, Nox Medical, a pioneer in the field of sleep diagnosis technology, announced the Nox A1s™ PSG system, which has product improvements over the Nox A1 and flexible hospital-to-home care. The Nox A1s is a long-term investment that can perform in-lab and at-home sleep testing via telehealth, making it one of the most adaptable devices on the market.

COVID-19 Impact on the Global Ambulatory Polysomnography (PSG) Systems Market

The COVID-19 pandemic had a moderate impact on the global ambulatory polysomnography (PSG) systems market. During the pandemic, many people were unwilling to visit clinics and hospitals for non-urgent treatments, such as sleep testing. In addition, the pandemic had an impact on the supply chain, which hindered the production and dissemination of polysomnography equipment. However, people seek to improve their sleep quality and overall health, which could lead to an increase in the need for sleep studies and ambulatory polysomnography machinery. These factors had a significant impact on the market growth amidst the pandemic.