Analysis of Actigraphy Sensors & PSG Devices Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global actigraphy sensors & PSG devices market is valued at US$ 1.2 billion in 2023 and is expected to reach a size of US$ 2 billion by 2033-end. Global demand for actigraphy sensors & PSG devices is predicted to increase at a CAGR of 5.2% from 2023 to 2033.
Expanding use of wireless medical equipment and diagnostic tools in the healthcare systems of emerging countries will also lead to promising sales possibilities for actigraphy sensors and polysomnography (PSG) devices.
Actigraphy sensors and PSG devices are medical devices primarily used in the diagnosis of various sleep disorders, such as idiopathic hypersomnia and sleep apnea. Majority of people in developed countries are aging and having comorbid illnesses, which is driving up the need for insomnia treatments and, consequently, boosting demand for these devices.
Actigraphy sensors and PSG devices are used to diagnose sleep-deprivation illnesses, providing the advantages of precise diagnosis, the capacity to monitor treatment outcomes over time, and real-time data. The main factors driving market expansion are the rising prevalence of insomnia, increasing awareness of the numerous treatments among patients, and the widespread availability of relevant technologies.
Chronic sleep disorders, which can range from minor disturbances in sleep to serious problems such as insomnia, have a severe impact on consumers' quality of life. Actigraphy sensors and PSG tools help users measure their sleep duration with more ease and accuracy, which aids in the correct identification of sleep disorders and boosts the efficacy of therapy.
Actigraphy sensors and PSG devices are also becoming more popular due to ongoing research in the field of sleep disorder management, which has led to the development of more effective medications and treatments for serious sleep disorders. PSG technology and actigraphy sensors measure productivity while assisting customers in getting rid of their sleeping problems. Wearable technology is very useful in extensive supply chains where continuous monitoring is necessary.
Throughout the projection period, the market is anticipated to increase at a significant rate because of technological advancements in connectivity, such as 5G. An increase in patient engagement is made possible by better patient care, which gives surgeons and doctors crucial information to help them make better decisions.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 1.2 Billion |
| Projected Market Value (2033) | US$ 2 Billion |
| Global Market Growth Rate (2023 to 2033) | 5.2% CAGR |
| Market Share of North America (2023) | 50% |
| Key Companies Profiled | Cidelec; Garmin Ltd.; Aetna Inc.; ResMed Inc.; Compumedics, Ltd.; Activinsights Ltd.; Fitbit, Inc.; SOMNOmedics GmbH |
“Need to Tackle Growing Prevalence of Sleep Disorders”
The modern way of life has changed sleeping habits, increasing the incidence of many sleep disorders. Chronic sleep disorders have a negative influence on consumers' quality of life, from small sleep disruptions to serious issues such as insomnia.
Users can more easily and accurately check their sleeping patterns thanks to actigraphy sensors and PSG devices. They aid in the accurate diagnosis of sleep disorders and improve the efficacy of therapy. Actigraphy sensors and PSG devices are in great demand in the healthcare industry as a result of consumer demand for diagnostic services for the precise treatment of sleep disorders.
“Increasing Adoption of Next-generation Technologies in Manufacturing Methods”
Leading actigraphy sensor and PSG device manufacturers are integrating advanced technology into their production methods. The fundamental drivers behind the rising use of next-generation technologies, such as the Internet of Things (IoT), to enhance key characteristics of actigraphy sensors and PSG devices are the need for accuracy and reliability in diagnosis. Increasing demand for wearable AI devices is boosting market value.
Top actigraphy sensor and PSG device producers are experimenting with a range of technologies, including radar technology, to find the most precise and dependable way to analyze sleep. Leading market companies are refocusing their efforts on implementing automation to introduce novel and more effective actigraphy sensors and PSG devices to make a mark in the industry.
“Rising Popularity of Health and Wellness Trends”
Health-conscious consumers are willing to opt for effective treatments to improve their quality of life due to rising incidences of severe sleep disorders. The quest for adopting a healthier lifestyle is predominantly boosting sales of actigraphy sensors and PSG devices among health-conscious consumers.
A substantial rise in the geriatric population has a hand in the rapidly expanding base of target consumers for manufacturers in the actigraphy sensors and PSG devices market. Thereby, with the growing popularity of health and wellness trends, the sales of actigraphy sensors and PSG devices are likely to multiply at a rapid rate over the coming years.
“High Production Costs of Actigraphy Sensors and PSG Devices”
Actigraphy sensors and PSG devices are categorized as wearable technology, so a greater range of regulatory compliance requirements during manufacturing are anticipated to impede expansion. A lack of awareness of sleep issues is preventing the industry from expanding. Businesses are slightly restrained by high production costs, which are hampering market growth.
“New Market Entrants Offering Advanced Wearable Sensors”
Over one billion individuals worldwide experience sleep apnea. Yet, it goes undetected in the majority of instances. This is mostly due to the dearth of sleep experts in most clinics. New companies are addressing this problem by offering wearable sensors that gather biosignals for home sleep apnea testing (HSAT). Wearables allow for remote diagnostics in telemedicine.
“Presence of Renowned Research Institutes in North America”
A large patient pool and the presence of prominent producers of actigraphy sensors & PSG devices are boosting market expansion in the region. The wide availability of products at affordable prices and the presence of renowned research institutes are the main factors contributing to market expansion.
“High Demand for Sleeping Aids in the Country”
Increasing investments in the manufacturing of actigraphy sensors & PSG devices by key market players are anticipated to have a beneficial impact on the products' accessibility in the United States. The market is expanding due to the rising demand for sleeping aids, the existence of well-established healthcare infrastructure, and an increasing geriatric population.
“Rapid Adoption of Wearable Actigraphy Devices by Patients”
The market in Germany is projected to remain the most lucrative for actigraphy sensors & PSG devices due to the increasing prevalence of insomnia in the working population. Market expansion is fueled by elements such as increased investments from major businesses into their R&D divisions and the rapid adoption of wearable actigraphy devices by patients.
“Rising Consumer Spending on Wellness”
Rising consumer spending on wellness and growing consumer awareness about sleep deprivation and insomnia are supporting market expansion in Japan. Actigraphy sensors and PSG devices are becoming more popular in Japan because of the rising consumer demand for reliable diagnostic services for treating sleeping problems.
“Wrist and Handband Actigraphy Devices Gaining Traction Due to Their Portability”
By product type, the market is segmented into actigraphy devices (wrist and handband actigraphy devices, wearable actigraphy devices) and polysomnography devices (fixed polysomnography devices, portable polysomnography devices)
Wrist and handband actigraphy devices are gaining traction due to their portability and ease of use. Patients’ posture and movement are measured using wrist and handband actigraphy devices to spot any potential shifts or irregularities in the sleep cycle. As wrist actigraphy offers more information than a hand band alone, it is the most popular way to collect sleep data. Also, they are more comfortable to wear for long periods and are less likely to fall off at night.
“Rapid Deployment of Wireless Technologies to Improve Precision & Reliability of Actigraphy Sensors & PSG Devices”
The market is classified into wireless, USB, GPS, and others based on the technology.
Key producers of actigraphy sensors and polysomnography devices are incorporating wireless technologies to improve the precision and reliability of their products. It is anticipated that the market will increase over the coming years as a result of the introduction of modern devices and the rapid integration of wireless technology into their products.
Major market participants are focusing on quality control, partnerships, product standards, new developments, pricing trends, and supply chain management to maintain their position in the market. They are investing in R&D initiatives to introduce advanced solutions while following safety regulations. Large companies are collaborating with or acquiring small and medium enterprises in the actigraphy sensors and PSG devices market to consolidate their positions.
For instance,
What is the value of the actigraphy sensors & PSG devices market?
The global actigraphy sensors & PSG devices market is valued at US$ 1.2 billion in 2023.
What is the expected valuation of the market for actigraphy sensors & PSG devices by 2033?
Worldwide demand for actigraphy sensors & PSG devices is predicted to reach US$ 2 billion by 2033.
At what rate will the sales of actigraphy sensors & PSG devices increase?
Use of actigraphy sensors & PSG devices is expected to increase at a CAGR of 5.2% through 2033.
Which is the leading regional market for actigraphy sensors & PSG devices?
North America accounts for 50% share of the global market in 2023.
Who are the key providers of actigraphy sensors & PSG devices?
Cidelec, Garmin Ltd., and Aetna Inc. are some of the top suppliers of actigraphy sensors & PSG devices.
Actigraphy Sensors & PSG Devices Market