Market Introduction
The Europe Sleep apnea diagnostics market includes the consolidated markets for Germany, France, the United Kingdom, and Rest of Europe. Germany occupies a significant position in the Europe Sleep apnea diagnostics market. Germany has the largest medical device industry in the European region accounted to be the third-largest in the world. The country is expected to dominate the most significant medical device industry during the forecast period. Various factors assist Germany in holding the top position in the medical device industry. For instance, Germany has the highest number of employees working in the medical device industry. Focus on research and development activities and availability of funds for research are the important factors driving the growth of the market. As per the Europe Sleep Research Society, there are 320 sleep medicine centers in Europe. Some of these centers also function as Sleep Research Centers. In this region, increasing awareness about screening of selected risk groups for sleep apnea, its diagnosis and treatment and availability of healthcare centers drive the market growth during the forecast period. In Germany, reimbursement policies for sleep apnea patients also determine the market growth. Nearly 60% of CPAP treatment costs are reimbursed with the patient paying a small amount out of pocket. In case of home care providers, they are remunerated directly by the government for delivering the CPAP machine and its consumables, its installation and training the patients for using the device. Additionally, reimbursement prices paid to home care providers are considerably higher than in France. Thus, considering the above-mentioned factors, Germany is expected to be the largest market in the European region.
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.
Strategic insights for the Europe Sleep Apnea Diagnostics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Europe Sleep Apnea Diagnostics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.Europe Sleep Apnea Diagnostics Strategic Insights
Europe Sleep Apnea Diagnostics Report Scope
Report Attribute
Details
Market size in 2021
US$ 130.72 Million
Market Size by 2028
US$ 184.53 Million
Global CAGR (2021 - 2028)
5.0%
Historical Data
2019-2020
Forecast period
2022-2028
Segments Covered
By Product
By End User
Regions and Countries Covered
Europe
Market leaders and key company profiles
Europe Sleep Apnea Diagnostics Regional Insights
Market Overview and Dynamics
The sleep apnea diagnostics market in Europe is expected to grow US$ 130.72 million in 2021 to US$ 184.53 million by 2028; it is estimated to grow at a CAGR of 5.0% from 2021 to 2028. Significant rise in the geriatric population has increased the prevalence of OSA. The occurrence of sleep apnea is more in the geriatric population due to presence of other related diseases. The higher occurrence of the OSA is attributed to the decline in the size of upper airway lumen due to increasing age factor. This factor is driving the sleep apnea diagnostics market substantially. Another key factor is the upsurge in the growing population. Several countries such as the UK, France, and Germany, and developing countries such as Spain is experiencing significant growth in their geriatric population base. The growth of the geriatric population in these countries is driven by improved healthcare facilities and better healthcare services, leading increased life expectancy. Thus, the rise in geriatric population is among the key driving factors for the growth of the sleep apnea diagnostics market.
Key Market Segments
In terms of product, the polysomnography (PSG) device segment accounted for the largest share of the Europe sleep apnea diagnostics market in 2021. In term of end user, hospitals and sleep laboratories segment held a larger market share of the sleep apnea diagnostics market in 2021.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the sleep apnea diagnostics market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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 among others.
Reasons to buy report
Europe Sleep Apnea Diagnostics Market Segmentation
Europe Sleep Apnea Diagnostics Market – By Product
Europe Sleep Apnea Diagnostics Market – By
End User
Europe Sleep Apnea Diagnostics Market – By
Country
Europe Sleep Apnea Diagnostics Market – Companies Mentioned
The Europe Sleep Apnea Diagnostics Market is valued at US$ 130.72 Million in 2021, it is projected to reach US$ 184.53 Million by 2028.
As per our report Europe Sleep Apnea Diagnostics Market, the market size is valued at US$ 130.72 Million in 2021, projecting it to reach US$ 184.53 Million by 2028. This translates to a CAGR of approximately 5.0% during the forecast period.
The Europe Sleep Apnea Diagnostics Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Sleep Apnea Diagnostics Market report:
The Europe Sleep Apnea Diagnostics Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Sleep Apnea Diagnostics Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Sleep Apnea Diagnostics Market value chain can benefit from the information contained in a comprehensive market report.