Market Size – The sleep study equipment market size has grown strongly in recent years. It will grow from $4.46 billion in 2023 to $4.78 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historical period can be attributed to an aging population, a rise in obesity rates, home healthcare trends, e-commerce growth, and rising stress levels.
The sleep study equipment market size is expected to see strong growth in the next few years. It will grow to $6.36 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to increased investment in sleep research, expansion of telehealth services, increasing development of wearable sleep technology, focus on mental health, and global health initiatives. Major trends in the forecast period include the emergence of startups, the development of non-invasive devices, insurance coverage expansion, partnerships and collaborations, and the integration of AI.
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Scope Of Sleep Study Equipment MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Sleep Study Equipment Market Overview
Market Drivers -The high prevalence of sleep disorders is expected to boost the growth of the sleep study equipment market in the future. Sleep disorders refer to conditions that disrupt the ability to maintain quality sleep, affecting its quantity, quality, or timing, which can lead to excessive daytime sleepiness. The increase in sleep disorders is largely attributed to socioeconomic stress, lifestyle changes, and an aging population. Sleep study equipment is essential for diagnosing and managing sleep disorders, as it monitors sleep patterns and physiological data to identify issues and customize treatments. For instance, in May 2023, a survey by SleepFoundation.org, a US-based non-profit organization dedicated to sleep health information, revealed that between 50 million and 70 million people suffer from persistent sleep disorders, with an increase attributed to post-traumatic stress disorder (PTSD). Additionally, 70% of adults are affected by seasonal affective disorder (SAD). Therefore, the high prevalence of sleep disorders is driving the growth of the sleep study equipment market.
Market Trends – Major companies operating in the sleep study equipment market are focused on developing advanced solutions, such as the AI-enabled sleep scoring platform, to enhance diagnostic accuracy, optimize treatment plans, and improve patient outcomes. Integrating artificial intelligence (AI) into sleep study equipment involves embedding advanced AI technologies into devices and systems used for monitoring and analyzing sleep patterns. For instance, in August 2023, Neurobit Inc., a US-based health analytics company, launched Neurobit PSG, an AI-powered sleep scoring platform designed to transform sleep analysis for healthcare providers, researchers, sleep labs, and enterprises. The software delivers precise and efficient sleep scoring through advanced AI algorithms, assisting researchers and healthcare professionals in optimizing their workflows. It also securely stores patient sleep data within the sleep lab’s internal system, ensuring high levels of data protection.
The sleep study equipment market covered in this report is segmented –
1) By Type: Sleep Monitors, Masks And Interfaces, Sensors And Accessories, Smart Beds And Pillows, Other Types
2) By Application: Online Sales, Offline Sales
3) By End User: Hospitals, Sleep Centers, Home Care Settings, Other End Users
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Regional Insights – North America was the largest region in the sleep study equipment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sleep study equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies in the market are Apple Inc., Samsung Electronics Co. Ltd., Xiaomi Corporation, Becton Dickinson and Company, Koninklijke Philips N.V., ResMed Inc., Nihon Kohden Corporation, Fitbit Inc., Fisher & Paykel Healthcare Limited, Loewenstein Medical Inc., DeVilbiss Healthcare LLC, Natus Medical Incorporated, SleepMed Inc., Nox Health Group, Compumedics Limited, NovaSom Inc., Oventus Medical Limited, Responsive Surface Technology Inc., Braebon Medical Corporation, Apex Medical Inc.
Table of Contents 1. Executive Summary2. Sleep Study Equipment Market Report Structure3. Sleep Study Equipment Market Trends And Strategies4. Sleep Study Equipment Market – Macro Economic Scenario5. Sleep Study Equipment Market Size And Growth…..27. Sleep Study Equipment Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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