Sleep Studies Market Growth, Business Opportunities, Share Value, Key Insights and Size estimation by 2032
Over the projection period, the market for sleep studies market share is anticipated to grow at a 12.8% CAGR, reaching US$ 18.9 Bn by 2032. According to an estimate by Future Market Insight, in-lab testing services will command 61.9% of the market in 2021.
Polysomnography, also known as a sleep study, is a technique used to diagnose sleep problems. Brain waves, heart rate and respiration, blood oxygen levels, as well as eye and leg movements, are monitored during a sleep study.
Sleep study is usually performed in a lab or clinic, but it can also be performed at home. Sleep studies are used to diagnose narcolepsy, unexplained chronic insomnia, REM sleep behavior disorder, sleep apnea, and other sleep disorders.
Globally, demand for a proper scientific diagnosis for an individual’s sleep disorder is increasing because of the use of proven techniques like brain wave activity, leg movement monitoring, and breathing monitoring.
According to the American Academy of Sleep Medicine (AASM), over 2500 sleep centers are running in the U.S. with their accreditation. This alone signifies the increasing demand among the population.
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With various innovative technologies like portable devices, smartphone applications, and telehealth making their way through, sales will increase at a considerable pace. The expansion of telemedicine may help to alleviate the unmet demand for sleep specialists.
Several illnesses, such as obstructive sleep apnea, have data-driven diagnostic and therapy algorithms that enable effective clinical decision making even in the absence of a physical examination. Unlike many other specialists, sleep physicians rely less on distinct physical examination findings. Telemedicine has the potential to reduce some of the traditional hurdles associated with other devices.
“Increasing adoption of sleep testing devices and rising prevalence of sleep-related disorders will drive the sleep studies market over the forecast period,” says an FMI analyst.
Key Takeaways:
- By testing services, sales in the in-lab testing segment are expected to grow at a CAGR of 11.9% during the forecast period.
- In terms of indication, obstructive sleep apnea (OSA) accounted for 41.9% of the total market share in 2021.
- Based on end user, sleep testing centers segment dominated the market by holding a 57.7% in 2021.
- The U.S. sleep studies market will expand at a 9.7% CAGR over the assessment period.
- Demand in the Germany sleep studies market will grow at a 9.3% CAGR through 2032.
- China will account for a dominant share in the East Asia sleep studies market, with sales growing at a 15.5% CAGR over the forecast period.
Competition Landscape
Leading players operating in the global sleep studies market are focusing on the launch of new products and services to cater to the growing demand. Key players are also aiming to expand their global presence by opening new service centres to deliver specialized care. For instance:
- In August 2021, ResMed launched the AirSense 11 PAP series, which is a digital health device used in sleep apnea treatment.
- In January 2020, Sleep Dynamics Company expanded its service offering for narcolepsy treatment.
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Key Market Segments Covered In Sleep Studies Market Research
By Testing Services:
- Home Sleep Testing
- In-Lab Testing
- Polysomnography (PSG) Testing
- CPAP/ BiPAP Titration
- Split Night Polysomnography
- Multiple Sleep Latency Test (MSLT)
- Maintenance of Wakefulness Test (MWT)
- Epilepsy Monitoring
By Indication:
- Obstructive Sleep Apnoea
- Insomnia
- Restless Leg Syndrome
- Circadian Rhythm Sleeping Disorders
- Narcolepsy
- Rapid eye movement (REM) Sleep Disorders
- Periodic Limb Movement Disorders
- Bruxism
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By End User:
- Hospital Settings
- Sleep Testing Centres
- Home Care Settings
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