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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 |
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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.