Latest News- Polysomnography Devices Market: Hospitals expected to lead the Application segment during 2024-2028

The Polysomnography Devices Market is being driven by Favorable reimbursement scenario

The Polysomnography Devices Market is expected to grow at a CAGR of 6.79% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 189.9 million. In the dynamic field of sleep disorder diagnosis and management, polysomnography devices continue to evolve, driven by technological innovations. Notably, wearable or portable polysomnography devices represent the current market trend. Cleveland Medical Devices, a key player, offers the Sapphire PSG system, a comprehensive 22-channel sleep solution with advanced wireless hardware and Crystal PSG software. This versatile system facilitates attended, remotely attended, or unattended sleep diagnoses, enhancing patient comfort and mobility. SOMNOmedics' SOMNOtouch RESP bridges the gap between polysomnographs and polygraphs, offering a streamlined solution for sleep disorder assessment. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Hospitals
  • Sleep clinics and diagnostic laboratories
  • ASCs
  • Homecare
• Type
  • Ambulatory polysomnography devices
  • Clinical polysomnography devices
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • Asia
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Favorable reimbursement scenario
• Increasing prevalence of sleep apnea, especially OSA
• Benefits of polysomnography

However, the market also witnesses some limitations, which are as follows:

• Alternatives for polysomnography devices
• Stringent regulatory framework and product recalls
• Lack of public awareness about sleep apnea and shortage of medical lab technicians

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Market Scope in Polysomnography Devices Market Research Report

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Research Analysis Overview

The Polysomnography Devices Market encompasses a range of diagnostic tools and monitoring solutions used for Sleep Apnea Testing and Sleep Disorders Analysis. These devices include Sleep Apnea Machines and Monitors, Respiratory Monitoring Devices, EEG Machines, and PSG (Polysomnography) Devices. Sleep Apnea Machines and Monitors help diagnose and treat sleep apnea, while Respiratory Monitoring Devices assess respiratory function during sleep. EEG Machines analyze brain activity for sleep pattern analysis. PSG Devices, also known as Sleep Lab Equipment, provide comprehensive sleep studies by monitoring various physiological parameters during sleep. These diagnostic tools play a crucial role in identifying and managing sleep disorders, making them essential components of the Polysomnography Devices Market. The market for these devices is expected to grow significantly due to the increasing prevalence of sleep disorders and the rising awareness of their impact on overall health.

Market Research Overview

Technavio's market analysis encompasses the Polysomnography Devices market as a segment of the expansive Global Healthcare Equipment Market. This market sector encompasses businesses and innovators involved in the research and development (R&D) of diverse product categories, such as capital equipment, instruments, implants, accessories, and consumables. These products are integral to the diagnosis, monitoring, and treatment of numerous diseases. The Global Healthcare Equipment Market's size is determined by the consolidated revenue generated by manufacturers of diagnostic equipment and devices spanning various therapy areas. The healthcare equipment industry is segmented into Devices, which includes advanced, differentiated, and clinically validated data-driven devices, such as polysomnography devices. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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