Sleep Tech Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3294
Sleep Tech Market size is expected to grow significantly from 2019 to 2025.
Rising incidences of sleep apnea, anxiety disorder and insomnia will create huge demand for sleep tech devices over forecast period. According to national sleep foundation, large number of American adults as well as children suffer from sleep related disorders. As a result, people are preferring sleep tech devices and its demand is growing slowly but steadily. This scenario will prove beneficial for industry growth over upcoming years.
Rising geriatric population base will fuel sleep tech market growth over forecast period. Geriatric population is vulnerable to various chronic diseases such as cardiovascular disease and hypertension. These diseases are known to cause improper functioning of metabolism that may lead to changes in heartbeats and breathing patterns. Prominent consequence of such changes includes disruptive sleeping habit. Aging demographics in developed as well as developing countries will further augment demand of sleep tech devices to cater to the problem of disruptive sleep in geriatric population. However, stringent regulatory requirements for medical devices predicted to impede industrial growth to some extent.
Sleep gadgets segment will witness robust growth over the forecast time frame due to advent of new and innovative gadgets. Modern sleeping gadgets are based on neuroscience technology and they enable to have a 20-minute power nap that is equivalent to two hours of regular sleep. These gadgets consist of comb cream, a cranial electrotherapy stimulation (CES) device, an eye mask and an app that soothes and relaxes the body. Such devices help people to reduce their stress and fatigue and significantly increase their productivity.
Home care settings will witness significant growth in upcoming years. People are getting inclined towards home sleep test devices as they are portable and easily measure biological parameters responsible for sleep disorders. After installation of sleep tech devices, people can feel relax and fall asleep easily. Convenience offered through home care settings is gaining preference amongst people that is expected to propel the segment growth.
Asia Pacific sleep tech market is expected to witness robust growth over forecast period. Growing prevalence of sleep disorders coupled with increasing awareness regarding availability of advanced sleep tech devices will propel regional growth. Asia pacific region marked by increasing prevalence of chronic diseases that leads to disturbances in sleep. Increasing patient population along with rising awareness is attributed to robust growth of sleep tech market in Asia Pacific region.
Some of the major industry players operating in the Sleep tech Market include Autonomic Technologies (ATI), Compumedics Limited, Masimo Corporation, Baxter Healthcare Corporation, Inovio Pharmaceuticals, Bionano Genomics, Nihon Kohden Corporation, Inc., Infraredx, Inc. and Neovasc Inc. For instance, Somnox company launched somnox sleep robot. The robot automatically matches with the users breathing pattern that makes users fall into sleep easily.
Sleep Tech Market, by Product type, 2014-2025 (USD Million)
- Sleep monitoring devices
- Sleep wearables
- Sleep trackers
- Sleep gadgets
- Digital application tools
Sleep Tech Market, by End-use, 2014-2025 (USD Million)
- Home care settings
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Compumedics Limited
- Nihon Kohden Corporation
- Masimo Corporation
- Autonomic Technologies (ATI)
- Baxter Healthcare Corporation
- Inovio Pharmaceuticals, Inc.
- Infraredx, Inc.
- Bionano Genomics
- Neovasc Inc.
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