Market Trends of Actigraphy Sensors and Polysomnography Devices Industry
This section covers the major market trends shaping the Actigraphy Sensors & Polysomnography Devices Market according to our research experts:
Wireless Technology is Expected to Hold Significant Share Over the Forecast Period
- The market is predicted to be dominated by the wireless technology segment since demand is anticipated to be driven by the majority of new products' technological capabilities, user-friendliness, ability to deliver real-time results, capacity for highly sensitive tests, and ongoing technical improvement in wireless technologies, that are helpful in disease diagnosis. Furthermore, the market for actigraphy sensors and polysomnography devices is to see attractive sales prospects due to the growing adoption of wireless medical equipment and diagnostic tools in the healthcare system of developing countries.
- The manufacturers in the actigraphy sensors and polysomnography devices market are integrating next-generation technologies, such as wireless technologies, in order to increase the accuracy and reliability of their products and ultimately to maintain a strong position in the actigraphy sensors and polysomnography devices market. Furthermore, continuous product launches by major players in the market are positively affecting the growth of the segment. For instance, in September 2022, Amazon announced the launch of a new sleep tracking product to the line, The Halo Rise, which uses contactless sensors to detect sleep quality and states, coupled with movements and breathing patterns. In addition, the Artificial Intelligence in Sleep Medicine Committee of AASM in April 2022 reported that the ubiquitous availability of Photoplethysmography technology in smartwatches and fitness trackers might allow for obstructive sleep apnea diagnosis at scale.
- Thus, the launch of the next-generation actigraphy sensor and polysomnography devices, as well as the majority of manufacturers focusing on deploying wireless technology in their products, are expected to contribute to the segment's growth over the coming years.
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North America is Expected to Dominate the Actigraphy Sensors and Polysomnography Devices Market
- North America is expected to hold a significant share of the global actigraphy sensors and polysomnography devices market during the next five years. The major factors attributing to the growth are the rising geriatric population, the high prevalence of chronic sleep disorders, the efficiency and affordability of the industry with the technological breakthroughs, as well as the presence of established research institutions.
- The rising demand for these devices during COVID-19 to support geriatric patients who experience sleep difficulties, as well as the fact that life expectancy is continuing to increase, is likely to drive the growth of the studied market in this region.
- According to the Department of Veterans Affairs/Department of Defense Health Affairs, the American College of Physicians, and the AASM conclusion in July 2022, up to 66% of people talk in their sleep at some point in their lives, and more than 40% of people with insomnia are believed to also be affected by a mental health disorder in the United States. This increases the demand for devices used to evaluate sleep-related disorders and is expected to drive the growth of actigraphy sensors and polysomnography devices in the region.
- Additionally, the major device manufacturers have been bolstering their distribution and supply chains in the United States since consumer demand for a product is directly correlated with its availability, which results in a bigger market share. For instance, in February 2021, the FDA authorized the marketing of a new prescription device to reduce snoring and mild obstructive sleep apnea in the United States. The eXciteOSA, developed by Signifier Medical Technologies, is the first device that uses neuromuscular stimulation therapy on the tongue while awake through a mouthpiece. In August 2022, AASM launched a two-year pilot program called the AI/Autoscoring Certification Program in order to objectively validate the effectiveness of these auto-scoring systems, which will start accepting applications in early 2023 for polysomnograms for sleep stage scoring.
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