Ambulatory Polysomnography (PSG) Systems Market to Reach $570.7 Million, Globally, by 2031 at 6.0% CAGR: Allied Market Research

The expansion of the ambulatory polysomnography (PSG) systems market is heavily influenced by the incidence of various sleep disorders, which creates attractive prospects for market growth. The North America region is projected to garner the highest revenue by 2031.

PORTLAND, Ore., May 15, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Ambulatory Polysomnography (PSG) Systems Market by Product (Up to 12 Channel PSG Systems, Up to 24 Channel PSG Systems, Up to 32 Channel PSG Systems, and Above 32 Channel PSG Systems), Application (Obstructive Sleep Apnea, Narcolepsy, Chronic Insomnia, and Others), End-user (Hospitals, Sleep Laboratories, and Home Care Settings), and Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global ambulatory polysomnography (PSG) systems market generated $327 million in 2021, and is anticipated to generate $570.7 million by 2031, witnessing a CAGR of 6.0% from 2022 to 2031.

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Prime Determinants of Growth

Improvements in technology in the sleep care industry might be regarded as a driving force in the ambulatory polysomnography (PSG) systems market. The market is continuously expanding as a result of several breakthrough technologies, such as portable devices, smartphone applications, telemedicine, and so on. Wireless and portable polysomnography systems, such as Nox Medical's Nox A1s PSG, have profited from R&D. Wireless capabilities provide patients with a sense of independence by allowing them to move freely throughout the night while being diagnosed. This will have a positive impact on the ambulatory polysomnography (PSG) systems market.

Report Coverage & Details:

Covid-19 Scenario

• The outbreak of the COVID-19 pandemic has had a huge impact on the growth of the global ambulatory polysomnography (PSG) systems market.
• During the pandemic, there was a sudden decrease in the PSG procedures and there was a growing focus on the diagnosis as well as treatment of coronavirus patients. This affected the ambulatory polysomnography (PSG) systems market growth in the pandemic period.
• However, as sleep is vital for the body's immune system and overall health, individuals are likely to become more aware of the need to analyze and treat sleep disorders, this is expected to surge the demand for PSG devices in the post-pandemic period.
• Up to 24 Channel PSG Systems Sub-segment to Maintain its Leadership Status Throughout the Forecast Period

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Based on product, the Up to 24 channel PSG systems sub-segment held the majority of share in 2021 and is estimated to maintain its leadership status throughout the forecast period. Polysomnography (PSG) devices are used in sleep labs to record and evaluate sleep studies that are set up and overseen by sleep medicine specialists. PSG equipment may be compared based on aspects such as reporting, lab management software specifications, amplifier specs, video options, and more. The quantity of items available in the range of up to 24 channel PSG systems is bigger than the other 24 product categories, and hence, this sub-segment dominates the ambulatory polysomnography (PSG) systems market.

Obstructive Sleep Sub-segment to be at a Leading Position by 2031

Based on application, the obstructive sleep sub-segment of the global ambulatory polysomnography (PSG) systems market held the majority of share in 2021 and is estimated to maintain its leadership status throughout the forecast period. Obstructive sleep apnea (OSA) is characterized by breathing pauses while sleeping, which is due to restricted or closed airways. The increasing prevalence of obstructive sleep apnea, rising incidences of comorbidities associated with sleep apnea, and a growing older population prone to respiratory diseases are the key factors driving the market expansion.

Sleep Laboratories Sub-segment to Show Fastest Growth by 2031

Based on end user, the sleep laboratories sub-segment accounted for the largest share in 2021 and is anticipated to show the fastest growth during the forecast period. The growing occurrence of sleep disorders like narcolepsy, insomnia, sleep apnea, and restless legs syndrome has boosted the demand for sleep labs, thus fueling the ambulatory polysomnography (PSG) system market growth.

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North America Region to Maintain its Dominance by 2031

Based on region, North America held the largest share in the global ambulatory polysomnography (PSG) systems market in 201 and is predicted to maintain its dominance during the forecast period. The significant growth of the region is mainly owing to the rise in technological advancements and a well-established medical industry. However, the Asia-Pacific region is expected to witness the highest CAGR of 6.7% during the forecast period from 2022 to 2031. Sleep problems, such as obstructive sleep apnea are highly frequent among Chinese people. According to one of the 2022 study articles, in China, around 176 million individuals suffer from obstructive sleep apnea. This reflects the increased prevalence of sleep disorders in China, and it also adds to the growth of the ambulatory polysomnography (PSG) systems market in China.

Leading Ambulatory Polysomnography (PSG) Systems Market Players: -

• 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.

The report provides a detailed analysis of these key players of the global ambulatory polysomnography (PSG) systems market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of ambulatory polysomnography (PSG) systems market players to showcase the competitive scenario.

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"We have also published syndicated market studies in similar area that might be of your interest. Below the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."

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