PUBLISHER: The Business Research Company | PRODUCT CODE: 1582602
PUBLISHER: The Business Research Company | PRODUCT CODE: 1582602
Sleep study equipment encompasses various devices, collectively known as polysomnography (PSG), used either in sleep laboratories or at home to diagnose sleep disorders and assess sleep quality. These devices monitor and evaluate sleep patterns, behaviors, and physiological parameters throughout the sleep period.
The primary categories of sleep study equipment include sleep monitors, masks and interfaces, sensors and accessories, and smart beds and pillows. Sleep monitors are designed to track and analyze various aspects of sleep, including duration, quality, and stages. They assist users in understanding their sleep patterns and identifying potential sleep disorders or areas for improvement. These devices are used in both online and offline sales and are employed by end users such as hospitals, sleep centers, home care settings, and other similar environments.
The sleep study equipment market research report is one of a series of new reports from The Business Research Company that provides sleep study equipment market statistics, including the Sleep study equipment industry's global market size, regional shares, competitors with a sleep study equipment market share, detailed Sleep study equipment market segments, market trends and opportunities, and any further data you may need to thrive in the sleep study equipment industry. This sleep study equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 observed in the historical period can be attributed to factors such as an aging population, increasing obesity rates, trends in home healthcare, the expansion of e-commerce, 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 anticipated growth during the forecast period can be linked to heightened investment in sleep research, the expansion of telehealth services, the rising development of wearable sleep technology, an increased focus on mental health, and global health initiatives. Key trends expected during this period include the rise of startups, the advancement of non-invasive devices, the expansion of insurance coverage, partnerships and collaborations, and the integration of AI.
The high prevalence of sleep disorders is anticipated to drive the growth of the sleep study equipment market in the future. Sleep disorders are conditions that disrupt regular, quality sleep, impacting sleep quantity, quality, or timing, and potentially causing excessive daytime sleepiness. The increase in sleep disorders is primarily attributed to socioeconomic stress, lifestyle changes, and an aging population. Sleep study equipment aids in diagnosing and managing these disorders by monitoring sleep patterns and physiological data to pinpoint issues and customize treatments. For example, a survey by SleepFoundation.org in May 2023, a US-based non-profit focused on sleep health information and comprehensive product testing, found that between 50 million and 70 million people experienced persistent sleep disorders, with a rise linked to post-traumatic stress disorder (PTSD). Additionally, 70% of adults are affected by seasonal affective disorder (SAD). Consequently, the high prevalence of sleep disorders is fueling the growth of the sleep study equipment market.
Major companies in the sleep study equipment market are concentrating on developing advanced solutions, such as AI-enabled sleep scoring platforms, to enhance diagnostic accuracy, refine treatment plans, and improve patient outcomes. Incorporating artificial intelligence (AI) into sleep study equipment involves integrating sophisticated AI technologies into devices and systems that monitor and analyze sleep patterns. For example, in August 2023, Neurobit Inc., a US-based health analytics firm, introduced Neurobit PSG, an AI-powered sleep scoring platform aimed at transforming sleep analysis for healthcare providers, researchers, sleep labs, and enterprises. This software provides precise and efficient sleep scoring through advanced AI algorithms, helping researchers and healthcare professionals streamline their workflows. It also ensures the secure storage of patient sleep data within the sleep lab's internal system, maintaining high levels of data protection.
In December 2021, ZOLL Medical Corporation, a US-based provider of medical devices and software solutions, acquired Itamar Medical Ltd. for $538 million. This acquisition allows ZOLL Medical to access Itamar's WatchPAT technology and digital health solutions, which, when integrated with ZOLL's extensive commercial network, accelerates ZOLL's goal of advancing home sleep medicine for individuals who are currently undiagnosed or untreated. Itamar Medical Ltd., based in Israel, is a company specializing in home equipment medical technology.
Major companies operating in the sleep study equipment 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.
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.
The countries covered in the sleep study equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The sleep study equipment market consists of sales of electroencephalography, electrocardiography, electromyogram, and home sleep apnea test (HSAT) devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Sleep Study Equipment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on sleep study equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for sleep study equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The sleep study equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.