Home Sleep Apnea Test Market Growth & Trends
The global home sleep apnea test market size is expected to reach USD 3.38 billion by 2030, growing at a CAGR of 6.4% from 2024 to 2030. The market growth is attributed to the increasing investment by prominent players, aimed at technological advancements in the home sleep apnea tests (HSAT). For instance, in March 2024, Belun Technology Company Ltd. launched a clinical trial aimed at the evaluation of the Belun Ring platform. The Belun Ring, a wearable technology, employs Artificial Intelligence (AI) to assist medical professionals in diagnosing Obstructive Sleep Apnea (OSA) and categorizing sleep phases. For home sleep assessments, individuals use this ring device, which incorporates a pulse oximeter and an accelerometer and is worn on the proximal index finger.
Moreover, the increasing prevalence of sleep apnea coupled with growing initiatives aimed at increasing awareness regarding the availability of technologically advanced solutions to treat sleep apnea is also contributing to the market growth. According to data published by the National Council on Aging, Inc. in May 2024 showcases that approximately 6 million Americans are formally diagnosed with sleep apnea; however, the condition is estimated to impact 30 million people within the U.S. The prevalence of sleep apnea tends to increase with age, the studies indicate that adults aged 65 and above exhibit a 56% higher risk of developing obstructive sleep apnea.
COVID-19 positively impacted the market as it forced the end users to adopt remote medical solutions. According to a survey conducted by Itamar Medical in partnership with Sleep Medicine Publication in March 2021 showcased that 29% of sleep clinics prioritize in-lab studies over at-home solutions - a proportion anticipated to decline further. This shift is supported by the adoption of disposable Home Sleep Apnea Tests (HSATs), which prevent the need for return shipping or equipment quarantine. Enhanced capabilities of home-based apnea tests, delivering instant results, further reduce the dependency on traditional in-lab studies for patient progression from initial screening through to diagnosis and treatment. During the pandemic, 67% of the clinics reported a moderate to significant reduction in in-lab patient studies, whereas 66% noted a comparable increase in the utilization of home sleep apnea tests. A substantial 65% of clinics foresee the continuation of this trend post-COVID, with a preference for HSATs as the primary diagnostic tool for sleep apnea.
Furthermore, key players in the market are adopting various strategies such as mergers & acquisitions, partnerships, collaborations, expansions, and new product launches to cater to the evolving demand of end users and strengthen their market positions. For instance, in March 2023, UK-based medical technology firm Acurable expanded its market reach by launching the AcuPebble device for the diagnosis of obstructive sleep apnea in the U.S. following recent FDA approval. Initially introduced in Europe in 2021, this device enhances the capability for remote, home-based sleep apnea testing, facilitating prompt diagnosis, accelerated treatment, and improved management of the condition.
Home Sleep Apnea Test Market Report Highlights
- North America held the largest market share of 47.74% in 2023. The market growth is attributed to a rising incidence of respiratory conditions, enhanced recognition of Obstructive Sleep Apnea (OSA), and supportive government policies that are fueling the market growth.
- The market in Asia Pacific is expected to register the fastest growth rate at a CAGR of 8.0% from 2024 to 2030. The growth is attributed to the significant adoption of technologically advanced HSATs in the region.
- Major players are employing various strategies such as product launches, collaborations, acquisitions, and mergers to expand their service portfolios and enhance their geographical presence, leading to significant competition within the market.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Research Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Home Sleep Apnea Test Market Variables, Trends & Scope
Chapter 4. Home Sleep Apnea Test Market: Regional Estimates & Trend Analysis, By Product, By Application, By End Use
Chapter 5. Competitive Landscape
List of Tables
List of Figures
Companies Mentioned
- Resmed
- Itamar Medical Ltd, a subsidiary of ZOLL Medical Corporation (an ASAHI KASEI company)
- Cleveland Medical Devices Inc.
- Compumedics Limited
- Onera Technologies B.V.
- Sunrise
- Nox Medical
- Watermark Medical
- Bittium
- Cadwell Industries Inc
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 2.18 Billion |
| Forecasted Market Value ( USD | $ 3.38 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
