Sleep Study Equipment Market Forecast and Analysis: Key Insights into Growth, Trends, and Emerging Opportunities
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How Will the Growth Rate of the Sleep Study Equipment Market Shape Industry Trends by 2034?
The market size for sleep study devices has experienced significant growth in recent years. Its expansion will accelerate from $4.78 billion in 2024 to $5.14 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%. Key contributors to the growth observed in the historic period include the increasing aging population, escalating obesity rates, the trend towards home healthcare, burgeoning e-commerce, and increasing stress levels.
In the coming years, the market size for sleep study equipment is predicted to experience robust growth, expanding to $6.82 billion by the year 2029 with a compound annual growth rate (CAGR) of 7.3%. Factors contributing to this promising outlook include augmented investments in sleep study research, the proliferation of telehealth services, advancements in wearable sleep technology, an emphasis on mental health care, and global healthcare strategies. Notable trends expected during this forecast period are the emergence of innovative startups, advances in non-invasive equipment, enlargement of insurance covers, strategic alliances and collaborations, and the integration of Artificial Intelligence (AI).
What Key Drivers Are Accelerating the Growth of the Sleep Study Equipment Market During the Forecast Period?
The sleep study equipment market is expected to expand due to the increasing incidence of sleep disorders. The term “sleep disorders” includes conditions that regularly interfere with one’s ability to achieve a good quality of sleep, potentially causing daytime drowsiness. These disorders, which can impact the quantity, quality, or timing of sleep, are generally attributed to lifestyle changes, socioeconomic stress, and aging. Sleep study devices are used to diagnose and manage these sleep disorders by tracking sleep patterns and physiological data, thereby enabling customized treatments. For instance, SleepFoundation.org, a US-based non-profit organization focusing on sleep health education and product testing, revealed in a survey in May 2023 that persistent sleep disorders were experienced by 50 million to 70 million people, with an increase associated with Post-Traumatic Stress Disorder (PTSD). Furthermore, 70% of adults are impacted by Seasonal Affective Disorder (SAD). Hence, the uptick in sleep disorders is fueling the growth of the sleep study equipment market.
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Who Are the Key Market Players Influencing the Growth of the Sleep Study Equipment Industry?
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.
What Key Market Trends Are Shaping the Future of the Sleep Study Equipment Industry?
Leading organizations in the sleep study equipment market are shifting their focus to devise superior solutions like AI-powered sleep scoring platforms aimed at uplifting diagnostic precision, refining treatment procedures, and bettering patient results. Incorporating artificial intelligence (AI) into sleep study equipment means instilling high-end AI technology into the devices and systems that monitor and analyze sleep trends. For example, the healthcare analytics company based in the US, Neurobit Inc., launched Neurobit PSG, an AI-centric sleep scoring platform, in August 2023. This platform revolutionizes sleep analysis for healthcare providers, researchers, sleep labs, and businesses. The platform utilizes advanced AI algorithms to provide accurate and efficient sleep scoring, thereby helping researchers and healthcare experts improve their workflows. Moreover, the platform securely retains patient sleep data within the in-house system of the sleep lab, thereby assuring utmost data safety.
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Which Key Market Segments Comprise the Sleep Study Equipment Market and Drive Its Revenue Growth?
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
Subsegments:
1) By Sleep Monitors: Polysomnography (PSG) Devices, Home Sleep Testing (HST) Devices, Oximeters, Wearable Sleep Monitors, Sleep Tracking Apps
2) By Masks And Interfaces: CPAP Masks (Continuous Positive Airway Pressure), BiPAP Masks (Bilevel Positive Airway Pressure), Nasal Cannulas, Full Face Masks, Nasal Pillow Masks, Hybrid Masks
3) By Sensors And Accessories: EEG Sensors (Electroencephalogram), EKG Sensors (Electrocardiogram), Pulse Oximeters, Respiratory Sensors, Temperature Sensors, Motion Sensors, Electrodes And Leads
4) By Smart Beds And Pillows: Smart Mattresses, Smart Pillows, Adjustable Beds, Anti-Snore Pillows, Sleep Positioning Devices
5) By Other Types: Sleep Therapy Devices, Light Therapy Systems, Sound Machines, Aromatherapy Devices, Air Purifiers For Sleep, Sleep Apps And Software Solutions
Which Regions Are Emerging as Leaders in the Sleep Study Equipment Market?
North America was the largest region in the sleep study equipment market in 2024. 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.
How Is the Sleep Study Equipment Market Defined Across Different Regions?
Sleep study equipment refers to a variety of devices, also known as polysomnography (PSG), that are conducted in sleep laboratories or at home to diagnose sleep disorders and evaluate sleep quality. It is used to monitor and assess sleep patterns, behaviors, and physiological parameters during sleep.
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