Sleep Tech Devices Market - By Product (Wearables, Non-wearables), By Application (Insomnia, Obstructive Sleep Apnea, Narcolepsy) and By Distribution Channel (Sleep centers and fitness centers, Pharmacy and retail stores) & Forecast, 2023 -2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSleep Tech Devices Market - By Product (Wearables, Non-wearables), By Application (Insomnia, Obstructive Sleep Apnea, Narcolepsy) and By Distribution Channel (Sleep centers and fitness centers, Pharmacy and retail stores) & Forecast, 2023 -2032
Sleep Tech Devices Market Size
Sleep Tech Devices Market size surpassed 17.9 billion in 2022 and is expected to register 18.2% CAGR between 2023 and 2032. An increasing number of patients suffering from sleep apnea and related disorders will influence the demand for sleep tech devices.
Sleep tech devices are gaining popularity due to their reliability and ergonomic design which aids patients to perform an easy sleep test. These devices offer a simplified and advanced solution to patients for sleep disorder management. A high prevalence of sleep disorders will attribute to the adoption of a sedentary lifestyle in the years ahead.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Sleep Tech Devices Market Size in 2022 | USD 17.9 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 18.2% |
| 2032 Value Projection | USD 95.2 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 270 |
| Tables, Charts & Figures | 421 |
| Segments covered | Product Type, Application, Distribution Channel, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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The high cost of sleep tech devices is likely to be a major factor impacting the market growth. New innovations in sleep technology equipment have revved up the cost of these device, consequently raising overall healthcare costs. Sleep tech devices such as beds and rings are currently available at greater rates contingent to its brand. High cost of these devices will mainly impact patients in low-income countries like Africa and India.
Sleep Tech Devices Market Analysis
Sleep tech devices market from the wearables segment is expected to observe massive growth, reaching over USD 65.4 billion by 2032. Wearable technology is gaining popularity as users continue to utilize them as an essential accessory for day-to-day activities. A significant number of people are using wearable devices like smartwatches and mobile phones to access the internet. Moreover, there has been a colossal increase in the utilization of smartwatches and telehealth services in the U.S. The expansion of mHealth will also be fueled by an increase in awareness across hospitals and by medical professional.
Based on application, the market share from the insomnia segment is anticipated to reach around USD 41.5 billion by 2032. Insomnia has a significant health and financial impact on patients. Its prevalence is rising, particularly in developing nations like China, Brazil, India, and others. Attributable to low awareness with respect to these sleep problems, a significant number of these illnesses go ignored and untreated in clinical practice.
The government has started public education, training for clinicians, and surveillance and monitoring campaigns to raise awareness of sleep disorders and improve diagnosis and treatment. A few countries have likewise started different partnership projects to support the medical care experts working on sleep medication. These kinds of programs aim to make healthcare professionals more aware of sleep disorders.
Hey there! If you've been struggling with getting a good night's sleep, you're not alone. More and more people are turning to sleep centers and fitness centers to help them out. In fact, the sleep tech devices market is booming in these places, with over $6.3 billion spent in 2022 alone! One reason for this surge is that sleep centers are becoming more popular as people realize how important it is to get professional help for sleep problems. Sleep centers offer a variety of treatments that can help you get to the root of your sleep issues, so you can finally get the rest you need. And it's not just sleep centers that are helping people sleep better. Fitness centers are also getting in on the action, offering sleep-tracking devices and other products that can help you monitor your sleep and improve your sleep habits. So, if you're looking for ways to improve your sleep, there are plenty of options available to you. Whether you're looking for professional help or just a few simple tips, there's something out there for everyone.
North America sleep tech devices market is expected to record around 18% CAGR between 2023 to 2032. The presence of key market players, high occurrence of sleep disorders and rising awareness regards early disease detection are some of the key factors fueling the market growth. With 30% of adults in the United States experiencing short-term insomnia, insomnia has emerged as the most common sleep disorder. As a result, the use of sleep technology devices in the treatment of sleep disorders has grown significantly, which has positive effected product demand.
Sleep Tech Devices Market Share
- Fitbit (Google LLC)
- Apple Inc
- Eight Sleep
- Xiaomi
- Philips
- Sleep Number
- Rest
- SleepScore Labs,
- Withings's
are some of the leading brands in the global sleep tech devices market. These companies are leveraging various business strategies like product development/launches and expansion plans.
Sleep Tech Devices Market research report includes an in-depth coverage of the industry with estimates & forecast in terms of USD Million from 2018 to 2032, for the following segments
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By Product Type
- Wearables
- Smart watches and bands
- Others
- Non-wearables
- Sleep monitors
- Smart beds
By Application
- Insomnia
- Obstructive sleep apnea
- Narcolepsy
- Others
By Distribution Channel
- Sleep centers and fitness centers
- Hypermarkets and supermarkets
- E-commerce
- Pharmacy and retail stores
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Poland
- The Netherlands
- Sweden
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Thailand
- Philippines
- Latin America
- Brazil
- Mexico
- Argentina
- Columbia
- Chile
- Peru
- MEA
- South Africa
- Saudi Arabia
- UAE
- Egypt
- Israel
- Nigeria
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