Ambulatory Polysomnography (PSG) Systems Market Size Projected to Generate a Revenue of $570.7 Mn by 2031

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The Global Ambulatory Polysomnography (PSG) Systems Market Size is predicted to be valued at $570.7 million by 2031, surging from $327.00 million in 2021, at a noteworthy CAGR of 6.0%.

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

The ambulatory polysomnography (PSG) market, among others, has been significantly impacted by the COVID-19 pandemic. Sleep problems including sleep apnea, insomnia, and narcolepsy may all be identified with the PSG diagnostic exam. There has been a decrease in PSG procedures as a result of the pandemic's beginning and the change in emphasis toward the diagnosis and treatment of COVID-19 patients. Additionally, the pandemic has led to delays and a shortage of PSG equipment due to disturbances in the production and supply chains of PSG systems. As a result, there was less demand for PSG systems since hospitals and clinics had to focus their resources on managing COVID-19 patients.

However, because sleep is crucial for the body's immune system and general health, this pandemic has also led to a greater understanding of the significance of sleep health. As individuals become more conscious of the need to detect and treat sleep problems, this might increase demand for PSG devices in the future.

Global Ambulatory Polysomnography (PSG) Systems Market Analysis

The market for ambulatory polysomnography (PSG) equipment is expected to grow as a result of increasing healthcare costs in developed nations. There is a rising need for sleep clinics and diagnostic tools such as ambulatory PSG systems to enhance the diagnosis and treatment of sleep disorders as more money for healthcare infrastructure is granted. Another factor increasing the demand for ambulatory PSG systems is the rising prevalence of sleep disorders such as obstructive sleep apnea (OSA) and insomnia. The necessity for precise and effective diagnosis, which may be accomplished with ambulatory PSG devices, grows as these illnesses become more common. The market is expanding as a result of technical developments in PSG systems, such as the creation of wireless and portable devices. Patients are more inclined to seek sleep problem diagnosis and treatment because of these gadgets' enhanced convenience and comfort. These are the major factors anticipated to boost the ambulatory polysomnography (PSG) systems market demand during the analysis timeframe.

However, the most significant challenge to the market for ambulatory polysomnography (PSG) systems market growth is the lack of qualified professionals. Lack of qualified technicians can cause testing to be delayed, results to be erroneous, and expenses to rise since PSG tests need competent technicians to conduct them and analyze results. Different approaches can be used to address this issue. One strategy is to offer technicians in remote and disadvantaged locations training and educational programmers to improve their proficiency in conducting PSG testing. Another tactic is to employ telemedicine and remote monitoring technology to allow skilled technicians or doctors to remotely analyze PSG data, doing away with the necessity for on-site staff.

The market for ambulatory polysomnography (PSG) equipment has a sizable opportunity due to the rising geriatric population. Due to the high prevalence of sleep disturbances among the elderly, there is a growing need for diagnostic tools. PSG systems are non-invasive diagnostic techniques that may be used to track and identify sleep problems such as sleep apnea, insomnia, and restless legs syndrome. Particularly portable and usable at the patient's home, ambulatory PSG devices make it possible to conveniently and continuously monitor sleep patterns. The elderly, who may find it challenging to get to a sleep clinic for a typical PSG test, can particularly benefit from this. A greater population may now use ambulatory PSG systems because of technological advancements that are also making them more user- and cost-friendly. The demand for PSG systems will be supported by this rising availability, which will also help the manufacturing sector expand. The increasing geriatric population and the associated rise in sleep disorders present a significant opportunity for the ambulatory polysomnography (PSG) systems market to expand and meet the growing demand for diagnostic solutions.

Global Ambulatory Polysomnography (PSG) Systems Market, Segmentation

The global ambulatory polysomnography (PSG) systems market is segmented based on product, application, end-user, and region.

Product:

The product segment is further classified 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. Among these, the up to 24 channel PSG systems sub-segment accounted for the highest ambulatory polysomnography (PSG) systems market share in 2021. PSG systems with up to 24 channels are sophisticated devices that enable the monitoring of a variety of physiological characteristics while a person is sleeping, including heart rate variability, muscle tone, and brain activity. Compared to conventional PSG systems, which generally monitor fewer channels, these systems offer more thorough and extensive data. The demand for Up to 24 Channel PSG Systems is increasing as sleep disorders become more prevalent, and healthcare providers seek more accurate and detailed diagnostic tools.

Application:

The application segment is further classified into obstructive sleep apnea, narcolepsy, chronic insomnia, and others. Among these, the obstructive sleep apnea sub-segment accounted for the highest ambulatory polysomnography (PSG) systems market share in 2021. Obstructive sleep apnea occurs when the muscles that support the soft tissues in the throat, such as the tongue and soft palate, temporarily relax. When these muscles relax, the airway is narrowed or closed, and breathing is momentarily cut off. Obstructive sleep apnea (OSA) is a kind of sleep disease characterized by recurrent episodes of partial or whole upper airway blockage while the patient is asleep, which interferes with breathing and disrupts sleep. Furthermore, the rising prevalence of comorbidities linked to sleep apnea is increasing the use of diagnostic tools. The presence of a large pool of undiagnosed patients has also imposed an economic burden on society, resulting in substantial collateral losses and public and private expenditure on management.

End-user:

The end-user segment is further classified into hospitals, sleep laboratories, and home care settings. Among these, the sleep laboratories sub-segment accounted for the highest market ambulatory polysomnography (PSG) systems market size in 2021. The rising prevalence of sleep disorders such as sleep apnea, insomnia, narcolepsy, and restless legs syndrome has led to an increase in sleep labs in the ambulatory polysomnography (PSG) system market. Sleep studies are typically conducted in a sleep lab during normal sleeping hours. The purpose is to capture brain and body activity while sleeping in order to detect and treat sleep problems.

Region:

The ambulatory polysomnography (PSG) systems market analysis in the Asia-Pacific region is projected to show the fastest growth. This region includes countries such as China, Japan, India, and South Korea, all of which have rapidly expanding healthcare infrastructure and rising rates of sleep disorders. People in the Asia-Pacific area are becoming more aware of the significance of identifying and treating sleep problems in recent years. As a result, ambulatory PSG systems that are portable and practical for patients to use at home are in higher demand. Governments in the region are also making significant investments in healthcare infrastructure to raise the standard of treatment given to patients.

Key Players in the Global Ambulatory Polysomnography (PSG) Systems Market

Some of the leading ambulatory polysomnography (PSG) systems market players are

• 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
• Neurovirtual/Sleepvirtual

For instance, in August 2020, SOMNOmedics GmbH received FDA approval for the use of SOMNOscreen HD, SOMNOscreen plus, and SOMNOscreen Eco in the pediatric population as young as 2 years old.