Actigraphy Sensors And Polysomnography Devices Market Report Overview
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The global actigraphy sensors and polysomnography devices market size was USD 1313.3 million in 2021 and market is projected to touch USD 2231.86 million by 2031, exhibiting a Compound annual growth rate (CAGR) of 5.4% during the forecast period.
A vital role is played by actigraphy and PSG devices in the management of sleep disorders. Sleep disorders, ranging from minor disturbances to major sleep problems, are on the rise as a result of altering sleeping patterns and the prevalence of sleep disorders. The management of chronic sleep disorders at an early stage is extremely important to improve a person's health and quality of life. PSG devices and actigraphy sensors are in high demand as an increasing number of patients seek accurate diagnosis and treatment for sleep disorders. Actigraphy is a miniaturized computer method for monitoring human rest and activity. People wear a small actigraph, also called an actimetry sensor, for a week or more to measure their gross motor activity. Sleepiness and insufficient sleep can be determined by actigraphs. On the other hand, polysomnography (PSG) is the gold standard for evaluating sleep disorders because it can objectively measure sleep-time and wake-up-time, as well as sleep architecture. EEGs, electromyograms, and electrooculograms are electrophysiological recordings which help score various stages of sleep based on electroencephalograms (EEGs), electromyograms (EMGs), and electrooculograms. The associated costs of PSG make it an infrequent procedure, however.
There has been a continuous rise in insomnia, stress-related lifestyles, which in turn increases the number of people who have disturbed sleep cycles and are potential patients. Including these devices in diagnostics and treatment plans helps patients achieve better patient outcomes. Apart from all of these, the limited health awareness to public about sleep disorders restrains the actigraphy sensors and polysomnography devices market growth throughout the forecast period.
COVID-19 Impact: Imposition of Lockdown to Hamper Market
As a result of COVID-19, the actigraphy sensors and polysomnography devices market growth has also been drastically affected. Particularly hard hit had happened in the global manufacturing, tourism, and financial markets. Despite signs of recovery in the previous period, the downward pressure on the world economy has returned. Even though there were a lot of economic problems due to the sudden lockdown imposed by government and the closure of industries, actigraphy sensors and polysomnography devices had witnessed a growth in it’s market during the pandemic period. It was majorly due to the rise in awareness of pandemic and the usage of the device. The ease of lockdown and restrictions is further expected to foster the market growth.
Latest Trends
"Advancements in Technologies to Drive Market Growth"
The healthcare industry is undergoing a technological revolution, so companies in the actigraphy sensors and polysomnography devices are integrating advanced technologies into their manufacturing processes. Diagnostic accuracy and reliability are the primary reasons for applying next-generation technologies, such as the Internet of Things (IoT), to improve salient features of actigraphy sensors and PSG devices. For the most accurate and reliable method of analyzing sleep, manufacturers of actigraphy sensors and PSG devices are experimenting with various technologies, such as radar technology.
Actigraphy Sensors And Polysomnography Devices Market Segmentations
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- By Type
The market is classified into actigraphy devices, and PSG devices based on type. The actigraphy devices segment will lead the actigraphy sensors and polysomnography devices market share throughout the forecast period.
- By Application
The market is classified into homecare settings, hospitals, diagnostic laboratories, and others on the basis of application. The homecare settings segment will lead the actigraphy sensors and polysomnography devices market share throughout the forecast period.
Restraining Factors
"Limited Awareness About Various Diseases to the Public to Restrain the Market"
Throughout the forecast period, the limited awareness about sleep disorders and high prices associated with actigraphy sensors are expected to restrain the market for actigraphy sensors and polysomnography devices.
Driving Factors
"Increase in Diseases like Sleep Disorders to Drive the Market"
Patients with sleep disorders, including insufficient sleep syndrome, can use actigraphy to complement self-reported sleep duration and other sleep parameters. As sleep disorders like insomnia, restless leg syndrome, narcolepsy, sleep apnea, and sleepwalking become more prevalent among adults, the market for actigraphy sensors and polysomnography devices will continue to grow. Older adults, women, and people with medical or mental illness are more likely to suffer from sleep disorders.
"Strict Framework for Devices Manufacturing Strategies to Drive the Market"
Actigraphy sensors and PSG devices are regulated by governing bodies around the world with strict guidelines and high standards of accreditation to ensure consumers' health and safety. A recent clinical practice guideline published by the American Academy of Sleep Medicine (AASM) describes how actigraphy sensors can be used to monitor sleep. Regulatory requirements, such as licensing requirements and Medical Code of Conduct, are also mandatory for stakeholders in the actigraphy sensors and polysomnography devices market.
Actigraphy Sensors And Polysomnography Devices Market Regional Insights
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"North America to Dominate the Market Owing to the Increasing Customer Pool"
Globally, North America dominates the actigraphy sensors and polysomnography devices market. North America accounted for the highest revenue share due to its large customer pool. Due to Covid-19, the demand for these devices has been increasing for geriatric patients with sleep disturbances. In addition, the key manufacturers of the devices are strengthening their supply chain and distribution in the U.S., as availability plays a significant role in product adoption.
Asia Pacific holds the second largest share of the actigraphy sensors and polysomnography devices market. As a result of increased public spending on wellness, Asia-Pacific is expected to experience significant growth opportunities. Actigraphy sensors and polysomnography devices providers are expected to benefit from the untapped potential of emerging markets such as Asia-Pacific. In countries such as South Korea, India, and Japan, such products are expected to witness high demand due to the recognition of diseases like sleep deprivation and insomnia.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Philips (Netherlands)
- Garmin (U.S.)
- Fitbit (U.S.)
- ResMed (U.S.)
- Natus Medical (U.S.)
- Nox Medical (U.S.)
- SOMNOmedics (Germany)
- Compumedics (Australia)
- BMC Medical (China)
- Cleveland
- Cidelec (France)
- ActiGraph (U.S.)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1313.3 Million in 2021 |
Market Size Value By |
US$ 2231.86 Million by 2031 |
Growth Rate |
CAGR of 5.4% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the actigraphy sensors and polysomnography devices market expected to touch by 2031?
The actigraphy sensors and polysomnography devices market is expected to reach a value of USD 2231.86 million by 2031.
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What CAGR is the actigraphy sensors and polysomnography devices market expected to exhibit by 2031?
The actigraphy sensors and polysomnography devices market is expected to exhibit a CAGR of 5.4% by 2031.
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Which are the driving factors of the actigraphy sensors and polysomnography devices market?
Increase in diseases like sleep disorders, and strict framework for devices manufacturing strategies are some of the major driving factors of the actigraphy sensors and polysomnography devices market.
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Which are the top companies in the actigraphy sensors and polysomnography devices market?
The top companies in the actigraphy sensors and polysomnography devices market include Philips, Garmin, Fitbit, ResMed, Natus Medical, Nox Medical, SOMNOmedics, Compumedics, BMC Medical, Cleveland, Cidelec, ActiGraph, etc.,