The polysomnography market value is set to grow by $136.42 million, progressing at a compound annual growth rate of 5.71% from 2020 to 2025, according to the latest report by global market research company Technavio.
The market is expected to witness substantial growth over the forecast period with the rising global geriatric population and the adoption of sedentary lifestyles. By 2040, about 15% of the total population in Asia is expected to be aged over 65 years. Also, the rate of obesity in Asia is progressing rapidly. The incidence of obesity reached epidemic levels in 2017, with more than 900 million being overweight in the region. The rising prevalence of such conditions globally is increasing the number of patients with fat deposits in the upper airway tract, which obstructs breathing and causes obstructive sleep apnea. All these factors are creating significant growth.
“Considering the rapid growth in the global geriatric population, the prevalence of the condition is expected to increase significantly over the forecast period. This will increase the demand for polysomnography and related devices and hence drive the growth of the market,” a statement from Technavio says.
With 41% of the growth originating from North America, the region will record a faster growth rate during 2020 to 2025, according to the report.