Report : Europe Sleep Apnea Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Polysomnography (PSG) Device, Home Sleep Testing Devices, Oximeter, Actigraphy Monitoring Device, and Sleep Apnea Screening Device) and End User (Hospitals and Sleep Laboratories and Home Care Settings)
Hospitals and Sleep Laboratories Segment to dominate Europe Sleep Apnea Diagnostics Market during 2021–2028
According to a new market research study on “Europe Sleep Apnea Diagnostics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product and End User,” is expected to reach US$ 184.53 million by 2028 from US$ 130.72 million in 2021. The market is estimated to grow at a CAGR of 5.0% from 2021 to 2028. The report provides trends prevailing in the Europe sleep apnea diagnostics market along with the drivers and restraints pertaining to the market growth. Widening scope of telemedicine, increasing technological developments, and surging geriatric population are the major factor driving the growth of the Europe sleep apnea diagnostics market. However, heavy cost of diagnosis of sleep apnea hinder the growth of Europe sleep apnea diagnostics market.
The impact of the COVID-19 pandemic in the European region has slightly affected negatively to the medical device industry. Various companies have shut down their productions, hence are unable to manufacture to meet the rising demand. The pandemic has also affected the upcoming European Union Medical Device Regulation (2017/745). Therefore, the dates of introducing new regulations and guidelines have been postponed from May 2020 to May 2021. In addition, the supply of important equipment and consumables are stagnant. However, dependency on the suppliers from other countries has turned into a long process of deliveries of medical devices and its consumables. Therefore, several medical companies were not able to meet the demand for medical equipment and personal protective equipment across the countries. In addition, the lockdown situation in highly affected countries such as Italy and Spain, the UK, and Germany has lower down the economies of the countries. Therefore, it is expected that the growth of the market is likely to be slower in the following few years.
The Europe sleep apnea diagnostics market is segmented on the basis of product, end user, and country. Based on product, the market is segmented into polysomnography (PSG) device, home sleep testing devices, oximeter, actigraphy monitoring device, and sleep apnea screening device. In 2021, polysomnography (PSG) device segment held the largest share in the market, and oximeter is expected to be the fastest growing segment during the forecast period. Further based on oximeter, the market is segmented into finger tip oximeter, handheld oximeter, wrist-worn oximeter, and tabletop oximeter. In 2021, finger tip oximeter segment held the largest share in the market, and it is also expected to be the fastest growing segment during the forecast period. Based on end user, the market is bifurcated into hospitals and sleep laboratories and home care settings. In 2021, hospitals and sleep laboratories segment held the largest share in the market, and home care settings is expected to be the fastest growing segment during the forecast period. Similarly Based on country the market is segmented into Germany, France, the UK, Italy, Spain, and Rest of Europe. In 2021, Germany held the largest share in the market, and it is also expected to be the fastest growing country during the forecast period.
ResMed, Inc.; Nihon Kohden Corporation LLC; SOMNOmedics GmbH; Cleveland Medical Devices Inc.; Koninklijke Philips N.V.; Natus Medical Incorporated; Itamar Medical Ltd.; Compumedics Limited; and Drive DeVilbiss International are among the leading companies in the Europe sleep apnea diagnostics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Drive DeVilbiss International exhibited respiratory products in MAIK Münchner Außerklinischer Intensiv Kongress - Munich, Germany. Drive DeVilbiss Germany and Drive DeVilbiss International exhibited and demonstrated latest product developments from Respiratory category
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