The US$ 1.78 billion actigraphy sensor and PSG devices market on course to grow at 4.3% in 2019, according to Fact.MR’s latest analysis. According to the study, actigraphy sensor and PSG devices market remains a highly consolidated landscape, with Tier I companies maintaining their hegemony despite the foray of new entrants.
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According to the study, as a result of the convergence of healthcare and technology, new medical technology (MedTech) products are gaining ground. Growing consumer awareness about—and inclination towards—technologically advanced actigraphy sensor and PSG devices has attracted both, tech industry leaders and startups, to enter the healthcare industry with more innovative actigraphy sensor and PSG devices.
The Fact.MR study finds that the latest technological trends are accelerating the rising number of game-changing actigraphy sensor and PSG devices being launched across the world. Wireless and USB actigraphy sensor and PSG devices accounted for more than half the revenue share of the global market in 2018, according to the study.
Owing to the constant advancements in the wireless technologies, the trend of growing supply and demand for wireless or USB actigraphy sensor and PSG devices is likely to persist in the foreseeable future. Furthermore, growing penetration of wireless medical devices and diagnostic tools in the healthcare industry in developing countries is creating lucrative sales opportunities for stakeholders in the actigraphy sensor and PSG devices market.
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The Fact.MR study provides a thorough assessment on various macro and microeconomic factors that are shaping growth of the actigraphy sensor and PSG devices market. The study finds that polysomnography or PSG devices hold the largest, nearly 65% revenue share in the actigraphy sensor and PSG devices market, and the trend is likely to follow through the coming future.
Polysomnography provides a detailed evaluation of sleep-related data when it comes to medical cases, which remains the primary reason behind the growing preference for PSG devices over actigraphy sensors. In addition, the clinical practice guideline by the American Academy of Sleep Medicine on use of actigraphy for sleep disorders have declared that “actigraphy is not a substitute for polysomnography in clinical circumstances”.
The Fact.MR study provides comprehensive assessment of the future growth prospects of the actigraphy sensor and PSG devices market to predict that the market will grow at an incremental 4.6% value CAGE through 2026.
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