Notable Developments in the Actigraphy Sensor and PSG Devices Market
- Fitbit, Inc., a U.S.-based player in the actigraphy sensor and PSG devices market, announced the launch of a new enterprise – Fitbit Care™. With the launch of Fitbit Care, the company has introduced a new platform for enhancing wellness, prevention, and disease management regimes.
The Fitbit Care platform features a wide range of devices including wearables and self-tracking devices that continuously track sleep-related activities and other personalized digital interventions for specific disease management.
- Aetna Inc., an American healthcare company, was recently acquired by CVS Health Corporation, which is also an American retail pharmacy and health care company, for approximately US$ 78 billion. The combined company aims to offer powerful health resources and advanced connected medical devices to gain momentum in the health care industry.
- Continuing its acquisition spree, ResMed Inc – a California-based medical equipment company – purchased MatrixCare, a Minnesota-based Long-Term Care EHR Software Solution for US$ 750 million and Propeller Health, a digital therapeutics company, for approximately US$ 225 million in 2018. With these acquisitions, the company is focusing on strengthening its out-of-hospital software and healthcare solutions segment to grow strong in the actigraphy sensor and PSG devices market in coming future.
- Garmin Ltd., an American technology company, recently collaborated with ActiGraph, a global leader in sleep monitoring solutions, to create innovative health and activity monitoring solutions. By combining ActiGraph‘s CentrePoint data analytics platform with the sensor data from Garmin wearables, the companies are planning to launch powerful wearable solutions for different patient monitoring applications.
- ActiGraph recently launched its new activity monitor device, the CentrePoint Insight Watch, which uses raw data capture technology to capture high-resolution signal from the accelerometer and provides actionable information to the user through its fast, real-time data transfer mechanism.
Fact.MR report provides comprehensive information about recent developments in the competitive environment in the actigraphy sensor and PSG devices market. Stakeholders in the actigraphy sensor and PSG devices market featured in the Fact.MR report are
- Koninklijke Philips N.V.
- Fitbit, Inc.
- Garmin Ltd.
- Aetna Inc.
- ResMed Inc
- BMC Medical Co., Ltd.
- Activinsights Ltd.
- SOMNOmedics GmbH
- MEDISANA GmbH
- Recorders & Medicare Systems Pvt Ltd
- Compumedics, Ltd.
- Natus Medical, Inc.
- Cleveland Medical Devices Inc
- iHealth Labs Inc.
- Medicom MTD
- ActiGraph LLC
- Nox Medical.
Tier I Companies Hold a Whopping 70% Revenue Share in the Actigraphy Sensor and PSG Devices Market
The actigraphy sensor and PSG devices market is witnessing positive growth with the frontrunners accounting for nearly two-third of the total revenue in the market.
Frontrunners in the actigraphy sensor and PSG devices market, including Koninklijke Philips N.V., Fitbit, Inc., Garmin Ltd., and ResMed Inc., have maintained a strong foothold in the market.
Apart from the launch of next-generation actigraphy sensor and PSG devices, inorganic growth strategies have been instrumental in driving the market share of Tier I companies.
Large companies, including ResMed, Fitbit Inc., and Garmin Ltd., have been collaborating with or acquiring small and medium enterprises in the actigraphy sensor and PSG devices market for consolidating their position.
Further, challenges associated with regulatory compliance have meant that actigraphy sensor manufacturing has remained highly consolidated.
Growing Prevalence of Sleep Disorders Triggering Demand
The modern lifestyle has altered sleeping patterns, leading to an increase in the prevalence of various sleep disorders.
Right from minor sleep disturbances to major problems, such as insomnia, chronic sleep disorders have adverse impacts on consumers’ quality of life.
As actigraphy sensor and PSG devices make it simpler for users to monitor their sleep duration with more convenience and accuracy, it helps in diagnosing sleep diseases reliably and makes treatments more effective.
Thereby, consumers are seeking diagnostic services for the accurate treatments of sleep disorders, which is creating a high demand for actigraphy sensor and PSG devices in the healthcare sector.
Furthermore, ongoing research in the field of sleep disorder management to discover more efficient medicine and treatments for life-threatening sleep disorders is providing a boost to the applications of actigraphy sensor and PSG devices.
Standards and Stringent Regulatory Framework Influence Actigraphy Sensor and PSG Devices Manufacturing Strategies
In order to ensure consumers’ health and safety of devices, governing bodies across the globe have regulated the use of actigraphy sensor and PSG devices with strict guidelines and high standards for accreditation.
For instance, the American Academy of Sleep Medicine (AASM) recently published clinical practice guideline for the applications of actigraphy sensors in sleep monitoring devices.
Furthermore, it is mandatory for stakeholders in the actigraphy sensor and PSG devices market to conform to various regulatory requirements such as licensing requirements and Medical Code of Conduct.
Complying with various strict regulatory policies in various regions is exhorting actigraphy sensor and PSG devices market players to realign some of their business strategies, which, in turn, may have an impact of pricing structure and supply chains of the business.
Emergence of Advanced Technologies to Boost Availability of Smart Actigraphy Sensor and PSG Devices
With the healthcare industry taking a leap with technological transformations, manufacturers in the actigraphy sensor and PSG devices market are bolstering their use of advanced technologies in manufacturing processes.
Needs for accuracy and reliability in diagnostics are the primary triggers for the increased applications of next-generation technologies, such as Internet of Things (IoT), to improve salient features of actigraphy sensor and PSG devices.
Manufacturers in the actigraphy sensor and PSG devices market are experimenting with various technologies, such as radar technology, to discover the most accurate and reliable method for sleep analysis.
Leading market players shifting their focus on increasing the use of technologies to launch innovative and more efficient actigraphy sensor and PSG devices to scale up on the competitive landscape in the diagnostics industry.
Ever-expanding End-user Base of Health-conscious Consumers is Creating Lucrative Sales Opportunities
With the incidences of severe sleep disorders reaching its peak, health-conscious consumers are willing to opt for effective treatments in order to improve the quality of life.
The quest for adopting a healthier lifestyle is predominantly boosting sales of actigraphy sensor and PSG devices among health-conscious consumers.
Furthermore, a substantial rise in the geriatric population has a hand in the rapidly expanding base of target consumers for manufacturers in the actigraphy sensor and PSG devices market.
Thereby, with the growing popularity of health and wellness trends, the sales of actigraphy sensor and PSG devices are likely to multiply at a rapid rate in the upcoming years.
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Actigraphy sensors are medical devices that are used in non-invasive medical treatments that monitor activity cycles in the human body.
Actigraphy sensors transmit signals and analyze body movements as well as sleep-related activities in real time.
Polysomnography (PSG) is the study of sleep, and PSG devices are used as diagnostic tools in the field of sleep medicine.
Actigraphy sensor and PSG devices are medical devices primarily used in the diagnosis of various sleep disorders such as idiopathic hypersomnia and sleep apnea.
About the Report
The Fact.MR report is a seamless presentation of valuable insights on notable developments in the actigraphy sensor and PSG devices market.
The report provides detailed information about historical market dynamics, current growth parameters, and future prospects of growth for the actigraphy sensor and PSG devices market.
The report offers a holistic assessment on regional markets for actigraphy sensor and PSG devices and helps market players to understand the growth opportunities in respective regions during the period 2018-2026.
The report provides market players with actionable insights that can help them to envisage profitable growth in the actigraphy sensor and PSG devices during the forecast period.
The Fact.MR report ensures the seamless delivery of information about the actigraphy sensor and PSG devices market in order to help readers to understand each and every fact mentioned in the report.
Thereby, the information on growth prospects of the actigraphy sensor and PSG devices market mentioned in the report is segmented into four segments – product types, technology types, distribution channels, and geographical regions.
Based on product types, the actigraphy sensor and PSG devices market is segmented into two broad categories – actigraphy devices and polysomnography devices.
Actigraphy devices are further segmented into wrist and handband actigraphy devices and wearable actigraphy devices.
Polysomnography devices are further segmented into fixed polysomnography devices and portable polysomnography devices.
Based on the technology types, the actigraphy sensor and PSG devices market is segmented into wireless technology devices, USB devices, GPS devices, and others.
According to the distribution channels, the actigraphy sensor and PSG devices market is segmented into retail stores, online retail stores, pharmacies, hospitals, diagnostic laboratories, and homecare settings.
Based on geographical regions, the actigraphy sensor and PSG devices market is segmented into North America, Latin America, Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa (MEA).
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Additional Questions Answered
Apart from the comprehensible presentation of valuable and exclusive information on the actigraphy sensor and PSG devices market, the Fact.MR report provides some unique insights for market players.
It ensures that the information featured in the Fact.MR report can help leading players as well as new entrants in the actigraphy sensor and PSG devices market.
The information mentioned in the report also answers important actigraphy sensor and PSG devices market-related questions for the readers in order to help them in making appropriate business decisions for the future. Some of the questions answered in the report include
- What interventions from regulatory authorities are influencing the growth of the actigraphy sensor and PSG devices market?
- What is the revenue potential of the actigraphy sensor and PSG devices market across developed regions such as European Union and North America?
- What are the key challenges that are impeding the growth of the actigraphy sensor and PSG devices market?
- Who are the key competitors and frontrunners in the market and what are their portfolios in the actigraphy sensor and PSG devices market?
- Which type of actigraphy sensor and PSG devices are gaining more popularity among consumers? How is it impacting salient strategies of players in the actigraphy sensor and PSG devices market?
A holistic approach and unique methodology is followed while conducting a thorough research about the actigraphy sensor and PSG devices market to conclude the growth prospects of the actigraphy sensor and PSG devices market during 2018-2026.
The information featured in the report provides readers with exclusive conclusions about the important developments in the actigraphy sensor and PSG devices market.
The comprehensive information featured in the report is obtained at the end of detailed secondary and primary market research on the historical and current growth parameters of the actigraphy sensor and PSG devices market.
Secondary research on the actigraphy sensor and PSG devices market elucidates the historical and current facts and industry-validated information about the actigraphy sensor and PSG devices market.
Primary research is conducted after secondary research, where market leaders, including suppliers, manufacturers, distributors, and investors, in the actigraphy sensor and PSG devices market are interviewed.
The validity and reliability of the qualitative and quantitative information on how the actigraphy sensor and PSG devices market will grow during 2018-2026 is ensured by the unique research methodology followed by Fact.MR analysts.
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