Wireless Polysomnography Market Eyes US$ 329.8 Million by 2033

The wireless polysomnography market is projected to reach a valuation of US$ 197.7 million by 2023. It is anticipated that the market will grow at a 5.2% CAGR to reach US$ 329.8 million by 2033. Market growth will probably be impacted by the rise in sleep disorders, technological advancements, the trend towards home-based monitoring, wearable device integration, and the expansion of telemedicine and remote monitoring services.

Wireless technological advancements, sensor miniaturization, and enhanced signal processing algorithms will continue to improve the accuracy, dependability, and convenience of use of wireless polysomnography (PSG) systems. Further. Wireless PSG technology combination with wearable devices like as smartwatches and fitness trackers has enormous promise. This connection may give real-time sleep monitoring and personalized sleep coaching, which will help the wireless PSG industry flourish.

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The growth of telemedicine and remote patient monitoring services will drive demand for wireless PSG systems. These technologies allow healthcare providers to remotely monitor and diagnose sleep problems, hence boosting access to care, especially in rural or disadvantaged locations.

Wireless PSG systems had gained commercial traction, with broad acceptance and incorporation into sleep care practices. The market has matured, with an emphasis on product refinement and application expansion.

Key Takeaways:

The wireless polysomnography industry in the United States is predicted to reach US$ 105.7 million by 2033, increasing at a 4.7% CAGR.
The wireless polysomnography industry in the United Kingdom is estimated to reach a market value of US$ 20.1 million, expanding at a CAGR of 6.4% by 2033.
During the forecast period, the wireless polysomnography industry in China is expected to reach a market value of US$ 21.1 million, securing a 6.0% CAGR.
The wireless polysomnography industry in Japan is predicted to reach US$ 15.2 million by 2033, increasing at a 5.7% CAGR.
South Korea's wireless polysomnography industry is predicted to achieve a market size of US$ 12.3 million, rising at a 6.3% CAGR during the forecast period.
With a CAGR of 4.4% from 2023 to 2033, the Up-to 24 channel PSG systems segment is expected to dominate the wireless polysomnography industry.
With a CAGR of 5.6% from 2023 to 2033, the ambulatory polysomnography expected to dominate the wireless polysomnography industry.
With a CAGR of 4.7% from 2023 to 2033, the obstructive sleep apnea is expected to dominate the wireless polysomnography industry
With a CAGR of 4.7% from 2023 to 2033, the sleep laboratories is expected to dominate the wireless polysomnography industry.

How Does the Competition Look in the Wireless Polysomnography Market?

The wireless polysomnography sector is a very competitive one, with many firms fighting for market share. Several significant participants in this industry comprise Nox Medical, Onera Technologies B.V., SOMNOmedics GmbH, Recorders Medicare Systems P Ltd., VentMed Technology Medical Co. Ltd, Koninklijke Philips N.V., Allengers Medical Systems Limited, Natus Medical Incorporated, among other companies.

The major businesses are heavily spending in RD efforts to create innovative and inventive goods with enhanced effectiveness, dependability, and affordability. They are also focusing on expanding their product line and strengthening their distribution methods in order to fulfil shifting consumer expectations.

Tactical alliances and partnerships with other companies are becoming more common in the industry, allowing parties to leverage one another's strengths and expand their market influence.

Leading firms use consolidation and mergers to strengthen their market position and gain entry into new markets. The sector is expanding significantly in developing economies, particularly in India and China.

To boost their presence in these regions, major companies are expanding their distribution networks and building regional manufacturing sites. They are also concentrating on offering cost-effective solutions to customers in these markets in order to get a competitive advantage.

Key Players:

Nox Medical
Onera Technologies B.V.
SOMNOmedics GmbH
Recorders Medicare Systems P Ltd.
VentMed Technology Medical Co. Ltd
Koninklijke Philips N.V.
Allengers Medical Systems Limited
Natus Medical Incorporated

Key Developments:

In August 2020, The SOMNOscreen HD, SOMNOscreen plus, and SOMNOscreen Eco polysomnography devices from SOMNOmedics GmbH have been given FDA clearance for paediatric usage.
In April 2022, Onera Health's non-invasive patch-based, clinical-grade, portable medical device for polysomnography was approved by the US Food and Drug Administration.

Wireless Polysomnography Market Segmentation:

By Product: