Sleep Disorder Market - By Disorder (Sleep Apnea, Restless Legs Syndrome, Insomnia, Narcolepsy), By Product (Diagnostics, Therapeutics), By End-use (Home Care Settings & Individuals, Sleep Laboratories & Hospitals) & Global 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 Disorder Market - By Disorder (Sleep Apnea, Restless Legs Syndrome, Insomnia, Narcolepsy), By Product (Diagnostics, Therapeutics), By End-use (Home Care Settings & Individuals, Sleep Laboratories & Hospitals) & Global Forecast, 2023-2032
Sleep Disorder Market Size
Sleep Disorder Market size was worth over USD 22.5 billion in 2022 and is poised to depict significant growth at more than 12% CAGR from 2023 to 2032 owing to the rising prevalence of sleep disorders worldwide.
The upsurge in the number of patients experiencing sleep apnea and other co-morbidities is among the major factors affecting the demand for therapeutic and diagnostic equipment due to their dependability and ergonomic design that assist patients in performing an easy sleep test. The American Sleep Association estimates that between 50 and 70 million individuals in the U.S. suffer from sleep disorders. These illnesses commonly coexist with issues such as anxiety, depression, and posttraumatic stress disorder (PTSD). This high incidence rate is also associated with the rising adoption of a sedentary lifestyle, which is expected to drive market size.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Sleep Disorder Market Size in 2022 | USD 22.5 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 12% |
| 2032 Value Projection | USD 73.5 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 250 |
| Tables, Charts & Figures | 629 |
| Segments covered | Sleep Disorder, Product, End-use, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Stringent regulatory framework to limit industry landscape
The FDA has highly stringent regulatory compliances and lengthy approval procedures that are impeding the expansion of the sleep disorder market. The FDA classifies sleep diagnosis and therapy devices as Class II due to the possible risks they pose. These devices often require the highest level of scrutiny and a comprehensive set of preclinical and clinical assessments via pre-market authorization. The stringent regulatory framework related to sleep disorder treatment devices is estimated to slow down the growth of the industry.
Sleep Disorder Market Analysis
Human-Like Version Sleep disorders, like sleep apnea, are becoming more common, especially among the elderly. Experts predict that over the next decade, the treatment market for sleep apnea will grow by a whopping 12% each year. In the United States alone, millions of people suffer from sleep apnea, where they repeatedly stop breathing during sleep. As our population gets older, sleep apnea is becoming a bigger problem. Right now, over 56 million Americans are 65 or older, making up almost 17% of our country. Better healthcare and longer life expectancies are also playing a role in the rise of sleep disorders. More people are living longer, which means more people are developing sleep issues. This is creating a huge demand for products and services that help people get a good night's sleep.
People with sleep problems are increasingly turning to home care solutions, making this segment of the sleep disorder market poised for growth in the coming years. Home sleep tests have come a long way and are now commonly used to diagnose sleep issues. As people become more aware of how important it is to accurately diagnose and treat sleep problems, the demand for home care devices for sleep apnea is growing rapidly. This trend is also being fueled by the introduction of user-friendly devices that make it easy for people to manage their sleep apnea at home. For example, in February 2023, Sunrise, a sleep science specialist, announced that the U.S. Food and Drug Administration (FDA) had approved its AI-powered second-generation at-home sleep apnea test. This device can diagnose sleep-related respiratory disorders, including obstructive sleep apnea (OSA).
In terms of product, the sleep disorder market from the therapeutics segment reached over USD 8.5 billion in 2022. Oral appliance therapy for the treatment of a variety of sleep problems is gaining traction as people become more aware of the advantages these portable devices provide. Leading companies are working on introducing innovative treatment devices that offer less technical complexity and more ease, thereby influencing industry statistics.
North American sleep disorder market is forecast to develop at more than 11.5% CAGR through 2032, owing to several factors such as the presence of major market players, growth in the frequency of sleep disorders, and increased knowledge of early-stage illness diagnosis, among others. Furthermore, an increasing number of initiatives to raise awareness about sleep apnea and its consequences are anticipated to influence regional market trends.
Sleep Disorder Market Share
Leading companies operating in the sleep disorder industry are
- Fisher & Paykel Healthcare
- Koninklijke Philips N.V.
- Invacare Corporation
- Teleflex Inc.
- ResMed Inc.
- and Natus Medical Inc.
Manufacturers focus heavily on the development of novel techniques, the introduction of cutting-edge products, and the execution of expansion plans to sustain their market position.
Sleep Disorder Market research report includes in-depth coverage of the industry with estimates & forecasts in terms of USD Million from 2018 to 2032, for the following segments
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By Disorder
- Sleep Apnea
- Obstructive Sleep Apnea
- Central Sleep Apnea
- Complex Sleep Apnea
- Restless Legs Syndrome (RLS)
- Insomnia
- Narcolepsy
- Others
By Product
- Diagnostics
- Actigraphy Systems
- Polysomnography (PSG) Device
- Respiratory Polygraph
- Sleep Screening Devices
- Pulse Oximeter
- Wearables
- Smart Watches & Bands
- Others
- Therapeutics
- Cognitive behavioral therapy
- Therapeutic Devices
- Airway Clearance System
- Adaptive Servo-ventilation (ASV)
- Positive Airway Pressure (PAP) Devices
- Oral Appliances
- Oxygen Devices
- Others
By End-use
- Home Care Settings & Individuals
- Sleep Laboratories & Hospitals
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Poland
- Netherlands
- Sweden
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Thailand
- Philippines
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- MEA
- South Africa
- Saudi Arabia
- UAE
- Egypt
- Israel
- Nigeria
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