Sleep Tech Devices Market Size

Sleep Tech Devices Market Size

The global sleep tech devices market size was valued at USD 21.1 billion in 2023 and is anticipated to witness growth at a CAGR of 18.3% from 2024 to 2032. The market is witnessing expansion because of heightened understanding of sleep technology, an ever-growing elderly demographic, and increased demand in portable, energy-efficient and high-end sleep devices.
 

Also, the incidence of sleep disorders like chronic insomnia, obstructive sleep apnea syndrome, restless legs syndrome, and narcolepsy is on the rise, which is likely to continue driving expansion of this market.  As per the American Sleep Association, more than 50 to 70 million American adults were reported to have some sort of sleep disorder as of 2023. Insomnia affects about 30% of the population. The Centers for Disease Control and Prevention (CDC) reported in 2022 that the obesity rates among American adults, a significant risk factor for obstructive sleep apnea, had risen to 41.9%.

Similarly, ResMed, the leader in CPAP devices, reported a 14% growth in device sales in 2023, which indicates an increasing demand for sleep technology solutions among patients with sleep disorders. Consumers are increasingly seeking smart mattresses, sleep tracking devices, and CPAP (Continuous Positive Airway Pressure) ventilators to improve their sleep quality. Also, a survey conducted by the Sleep Foundation in 2024 reported that the use of sleep tracking devices has increased, with the percentage of Americans using these devices growing from 24% in 2021 to 31%, which continues to fuel growth in this market.
 

Sleep tech devices refer to new innovations created to track, evaluate and improve the quality of sleep through the use of modern technology. This category of devices contains smart mattresses, wearable sleep trackers, CPAP machines and other wearable sensors which monitor and improve sleeping patterns and disorders. Utilize AI, IoT, and biometric data, sleep tech devices enable individuals to tackle sleep problems and maximize sleep health.