Home Sleep Apnea Testing Devices Market Size By Test Type (Type 2, Type 3, Type 4), Industry Analysis Report, Regional Outlook, Application Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2030

Home Sleep Apnea Testing Devices Market Size By Test Type (Type 2, Type 3, Type 4), Industry Analysis Report, Regional Outlook, Application Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2030

The home sleep apnea testing devices market size is projected to grow substantially by 2030 driven by escalating geriatric population worldwide. Sleep-related breathing disorders like obstructive and central sleep apnea are more common among the elderly. Alcohol consumption, obesity, and smoking are also some of the contributors to sleep apnea. Elderly patients suffering from sleep apnea are also more prone to other medical disorders such as myocardial infarction, congestive heart failure, and stroke.

According to the World Health Organization (WHO), the global geriatric population is expected to double by 2050. Additionally, the elderly population aged above 60 years is expected to witness threefold growth by 2050, reaching about 1.3 billion.

Several industry players are foraying into strategic partnerships and expansions to ramp up the innovation of sleep apnea testing and treatment. In August 2022, ResMed acquired German digital solutions provider Mementor to expand its overall sleep portfolio in Germany with a digital solution for insomnia. ResMed also unveiled its new technology R&D center in Sandyford, Dublin alongside plans to scale up the performance of its Ireland-based unit.

Meanwhile, various new entities in the home sleep apnea testing devices industry are introducing groundbreaking technologies. For instance, in May 2022, Sunrise, a Belgian sleep tech company, launched a lightweight and user-friendly at-home sleep test.

In November 2021, Acurable, a UK-based medical device company, received FDA approval for its AcuPebble SA100, a compact wearable device that enables automated remote home testing of obstructive sleep apnea.

The global home sleep apnea testing devices industry is bifurcated into test type and region.

With respect to test type, the industry is fragmented into type 2, type 3, and type 4. In 2021, the type 4 segment held more than 24% of the market share and is expected to reach over USD 828 million by 2030. Type 4 home sleep apnea testing devices ensure precise disease diagnosis and help assess the treatment efficacy.

In the regional landscape, the Asia Pacific home sleep apnea testing devices market size is estimated to value more than USD 872 million by 2030. APAC is home to a massive geriatric population base and represents a considerable share of sleep apnea and other sleep disorders. Rapid privatization of the healthcare sector and medical tourism will favor businesses operating in the home sleep apnea testing devices space in the region.

Developing economies of APAC are boosting health insurance penetration along with advancements in remote and at-home healthcare. In 2021, the World Bank granted $40 million worth of funding to the Meghalaya Health Systems Strengthening Project in India. The project is established to expand health insurance coverage in the state, provide better quality health services and facilitate access to diagnostics and medicines.