The anticipated size of the sleep screening devices market in 2022 was USD 8733.5 million and is estimated to be USD 9298 million in 2023. The market for global sleep screening devices market is important with the rise in demand for the prevalence of sleep disorders. Growth in awbout sleep health, and an increase in disposable incomes are some of the key factors boosting the market growth.
The growth in the geriatric population and the presence of repayment policies are expected for contributing to the growth of the market.
According to the Future Market Insights report estimation, the sleep screening devices market is predicted to expand at a CAGR of 6.6% between 2023 and 2033, totaling around USD 17,564.5 million by 2033.
The global sleep screening devices market is expected to be valued at USD 8.7 billion in 2022 and USD 11.4 billion in 2032 where it is anticipated to record a commendable CAGR of 6.7% in the forecast period from 2022 to 2032. Further, the easy availability of relatively low-cost home sleep testing devices is likely to fuel the sleep screening devices market growth in the forthcoming years.
| Attributes | Details |
|---|---|
| Projected Forecast Value (2022) | USD 8,733.5 million |
| Projected Forecast Value (2023) | USD 9,298 million |
| Projected Forecast Value (2033) | USD 17,564.5 million |
| Growth rate | 6.6% CAGR |
| Forecast period | 2023 to 2033 |
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The global sleep screening devices market grew at a CAGR of 6.2% between 2018 and 2022. Growth forecasts remain optimistic, with the market predicted to exhibit a CAGR of 6.6% between 2023 and 2033.
Growth in the prevalence of various sleep disorders, such as snoring, parasomnia, sleep apnea, and breathing difficulties associated with sleeping is anticipated to expand the sleep screening devices market size. Further, rising cases of sleep deprivation among shift workers are set to propel the demand for home sleep screening devices worldwide.
Ongoing development of new devices that can effectively track and monitor breathing rate, heart rate, sleep cycle, hours slept, light sleep, and deep sleep is likely to augur well for the market. Besides, the entry of many start-up companies in this market is expected to propel the market.
Rise in the Number of Market Ventures Propelling the Sales of Sleep Screening Devices
An increasing number of firms venturing into the market is set to propel the sales of sleep screening devices in the evaluation period. The surging usage of oral appliances and the presence of a large pool of patients living with undiagnosed sleep apnea is also expected to bode well for the market.
Increasing awareness about the negative effects of untreated sleep apnea in both developed and developing countries is likely to fuel the market. Additionally, the rising prevalence of various chronic diseases that often results in the disruption of an individual’s sleeping pattern is another vital factor that is projected to spur growth.
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High Cost of Continuous Positive Airway Pressure Machines Obstructing the Demand for Sleep
The high cost of Continuous Positive Airway Pressure (CPAP) machines may obstruct the demand for sleep screening devices in emerging economies. Further, the expenses of these machines are not covered by health insurance companies based in emerging economies, while it is partially covered in the United States of America by Medicare.
Sleep-tracking devices that rely on movement sensors may sometimes provide inaccurate results as these are also unable to efficiently distinguish between deep and light sleep. Some patients who use sleep-tracking devices often become preoccupied with optimizing their sleep data which can increase their nighttime anxiety and may make it difficult for them to sleep.
Rise in the Number of Diabetic Patients in the United States
North America is expected to remain at the forefront in the upcoming years by holding a significant sleep screening devices market share at a value of 38.6%. Furthermore, the rising prevalence of diabetes in the United States of America is a key contributor to sleep apnea and is estimated to drive the market at a value of 34.6%.
Centers for Disease Control and Prevention (CDC) mentions that around 96 million people belonging to the age group of 18 years and above have prediabetes in the United States of America. Additionally, nearly 23.0% of adults in the country are undiagnosed, while 28.7 million people are diagnosed and these numbers are set to grow in the future years, thereby propelling the market in North America.
The Presence of a Favorable Reimbursement Scenario Fuels the Market
Europe is said to be considered the second most dominating region with a market share of 23.2%. The presence of a favorable reimbursement scenario in the United Kingdom expands at a CAGR of 4.4% and augurs well for Europe’s sleep screening devices market size in the forthcoming years.
Increase in the Adoption of Sleep Apnea Therapeutic Devices
Germany is estimated to hold a global share of 6.6% where the high adoption of sleep apnea therapeutic devices in these developed countries is another significant factor that is likely to accelerate the market.
European Sleep Research Society says that more than 10% of Europe’s population gets affected by insomnia which is considered to be the most frequently occurring sleep disorder in this region. Further, Europe has also set up the European Insomnia Network which aims to help researchers and clinicians in conducting thorough research work in this field. Also, the rising initiatives taken by regulatory bodies are expected to push growth across Europe.
Demand for Early Diagnosis and Effective Treatment is Raising the Growth of the Market
Australia’s sleep apnea devices market is rising in the coming years. Demand for early diagnosis and effective treatment is also boosting the growth of the market. Here, research and technological advancements are providing effective devices for the diagnosis and treatment of sleep apnea, thus demonstrating the growth of Australia’s Sleep Apnea Devices market in the forecast period
The Rise in Old Population Increases Sleep Issues
China is said to expand at a CAGR of 10.8% due to the increase in the average life expectancy of the old population in this region, which has raised the prevalence of sleep issues.
Boost in the Change in Lifestyles of People is Raising India Market
India's sleep screening devices market is said to expand at a CAGR of 10.7% arising due to diversity in lifestyles, as well as a boost in diseases like obesity and hypertension, due to which sleep screening devices are becoming increasingly popular.
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Wearables are Estimated to Hold a Dominant Position in the Market
Wearable devices are worn by individuals which can track different physiological parameters like heart rate, blood pressure, etc, holding a market share of 61.58%. Devices like these help in providing real-time data on an individual's sleep quality. Further, the rise in accuracy and portability of these devices has raised among healthcare professionals for sleep screening.
Sleep Apnea is Predicted to Lead the Market Region
Sleep Apnea holds 32.66% of the market share as it helps the sleep-screened patient orally by providing short and frequent assessments, alarm systems on patients’ mobile phones, etc.
Retail Stores have the Most Important Position in the Market
Retail stores are said to hold a share of 34.1% of the market. Sleep screening devices are mainly available in such retail stores due to the large bulk and availability of the item where the consumers can directly purchase them in their need.
Some of the Prominent Players Operating in the Global Market
Important Developments of the Key Players in the Market
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.6% from 2023 to 2033 |
| Market value in 2023 | USD 9,298 million |
| Market value in 2033 | USD 17,564.5 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD million for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Country, By Product Type, By Application, By Distribution Channel |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific excluding Japan; Japan; The Middle East & Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Rest of Latin America, Germany, The United Kingdom, France, Spain, Italy, Rest of Europe, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, Rest of Asia Pacific, GCC countries, South Africa, Israel, Rest of the Middle East and Africa |
| Key Companies Profiled | Dream Sleep; NovaSom; VirtuOx; Koninklijke Philips; SleepWorks; Itamar Medical (ZOLL Medical); ApneaMed; Garmin; ResMed; Cleveland Medical Devices |
| Customisation Scope | Available on Request |
The sleep screening devices market is worth USD 9,298 million in 2023.
The sleep screening devices market size is expected to reach USD 17,564.5 million by 2033.
The sleep screening devices market is rising at a 6.6% CAGR through 2033.
India’s sleep screening devices market is likely to rise at a 10.7% CAGR through 2033.
Germany’s sleep screening devices market share may thrive at a 6.6% CAGR through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Sleep Monitors 5.2. Wearables 5.3. Headband Devices 5.4. Wrist Devices & Hand Bands Devices 5.5. Ring Devices 5.6. Sleep Mask Tracker Devices 5.7. Non-wearables 5.8. Bedside Non-Wearable Devices 5.9. Under Sheet Non-Wearable Devices 5.10. Under Mattress Non-Wearable Devices 5.11. Smart Sleep Equipment 5.12. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Circadian Rhythm Disorders 6.2. Sleep Deprivation 6.3. Narcolepsy 6.4. Sleep Apnea 6.5. Insomnia 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Hypermarkets and Supermarkets 7.2. Retail Stores 7.3. Pharmacy 7.4. Online 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Dream Sleep 18.2. NovaSom 18.3. VirtuOx 18.4. Koninklijke Philips 18.5. SleepWorks 18.6. Itamar Medical (ZOLL Medical) 18.7. ApneaMed 18.8. Garmin 18.9. ResMed 18.10. Cleveland Medical Devices 19. Assumptions & Acronyms Used 20. Research Methodology
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Sleep Screening Devices Market
