PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1681301
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1681301
The Global Actigraphy Device Market was valued at approximately USD 2.09 billion in 2023 and is anticipated to grow with a healthy growth rate of 26.09% over the forecast period 2024-2032, reaching around USD 16.84 billion by 2032. The increasing prevalence of sleep disorders such as insomnia, sleep apnea, and restless legs syndrome is a primary factor driving market growth. As individuals worldwide become more aware of the critical role sleep plays in overall health and well-being, there has been a surge in demand for non-invasive sleep monitoring solutions.
Actigraphy devices are gaining widespread adoption among healthcare providers, research institutions, and homecare settings due to their ability to provide continuous, real-time insights into sleep patterns and activity levels. Unlike polysomnography (PSG), which requires in-clinic monitoring, actigraphy devices offer cost-effective, long-term monitoring that enhances diagnostic accuracy and improves patient outcomes. Moreover, advancements in sensor technology, AI-driven sleep analytics, and wearable device integration have further positioned actigraphy devices as a key tool in sleep disorder management.
The aging global population has also significantly contributed to market growth. Elderly individuals frequently experience sleep fragmentation, insomnia, and other disturbances, making continuous sleep monitoring crucial for their well-being. For instance, the percentage of people aged 65 and older globally is expected to rise to 20.7% by 2074, according to UN projections. The increasing geriatric demographic is likely to drive the demand for home-based sleep tracking solutions, creating lucrative opportunities for actigraphy device manufacturers.
Despite the growing demand, the market faces regulatory challenges as compliance with FDA, EMA, and other global health regulations requires rigorous clinical validation. However, ongoing research efforts and strategic collaborations among industry leaders aim to streamline product approval processes while maintaining device accuracy and reliability. Additionally, increasing insurance coverage for sleep disorder diagnostics is expected to mitigate cost barriers and further fuel market penetration.
Regionally, North America dominated the market in 2023, accounting for over 35.76% of the global revenue share. This dominance is attributed to high healthcare expenditures, advanced sleep research infrastructure, and a strong presence of key market players. Meanwhile, Asia-Pacific is projected to witness the fastest CAGR, driven by rising disposable incomes, expanding healthcare access, and growing awareness about sleep disorders in emerging economies such as China, India, and Japan.