The global sleep screening devices market is poised for robust growth in the coming decade, fueled by the increasing prevalence of sleep disorders, technological advancements, and a growing geriatric population. The market, which was valued at US$ 8,733.5 million in 2022, is estimated to reach US$ 9,298 million in 2023. According to Future Market Insights, it is projected to grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2033, ultimately totaling around US$ 17,564.5 million by 2033.
Key Market Drivers
- Rising Prevalence of Sleep Disorders
The rising incidence of sleep-related disorders such as sleep apnea, insomnia, and restless leg syndrome is a major driver of the sleep screening devices market. Sedentary lifestyles, increased stress, and the prevalence of chronic illnesses have significantly contributed to sleep disturbances, leading to heightened demand for sleep screening devices. - Technological Advancements and Product Launches
Innovations in wearable devices, radar-based sleep monitoring, and mobile applications are transforming sleep tracking. Companies such as Amazon and Sleep Cycle have introduced new devices and features that make sleep tracking more accessible to the masses. For instance:- Amazon (2021) received authorization from the Federal Communications Commission (FCC) to introduce a radar-based sleep monitoring device. This non-contact approach to sleep tracking offers greater user convenience and accuracy.
- Sleep Cycle (2022) introduced the “Sleep Goal” feature for iOS users, allowing them to set weekly sleep targets, thereby promoting healthier sleep routines.
- Growing Geriatric Population and Healthcare Awareness
The global geriatric population is on the rise, and older adults are more prone to sleep disorders such as sleep apnea. The elderly population’s need for continuous health monitoring has created demand for home-use sleep screening devices. Increased awareness of the importance of sleep health is prompting individuals to seek out affordable, at-home sleep testing solutions, thereby driving market growth. - Availability of Low-Cost Home Sleep Testing Devices
The availability of low-cost, easy-to-use home sleep testing devices is encouraging more consumers to prioritize sleep health. These devices reduce the need for costly, time-consuming in-lab sleep studies, making sleep screening more accessible. - Favorable Insurance and Reimbursement Policies
The adoption of sleep screening devices is further supported by insurance companies and healthcare payers offering reimbursement for sleep studies. This encourages patients to seek medical intervention for sleep-related issues, increasing the demand for sleep screening devices.
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Market Restraints
- High Cost of Advanced Sleep Screening Devices: While low-cost devices are widely available, more sophisticated, high-precision sleep tracking systems are still expensive, limiting adoption in low- and middle-income countries.
- Data Privacy Concerns: Smart sleep devices that track sleep data via mobile apps or cloud services raise privacy concerns, as users fear unauthorized access to their personal health information.
- Limited Awareness in Developing Regions: In some developing countries, awareness of sleep health and access to screening devices remain limited, creating an untapped opportunity for market expansion.
Regional Insights
- North America: The region holds the largest share of the global sleep screening devices market, owing to its well-developed healthcare infrastructure, early adoption of technology, and growing awareness of sleep health. The presence of major players and strong support from insurance providers further bolsters market growth in this region.
- Europe: Europe represents a significant market, driven by government initiatives to improve healthcare outcomes and a rising elderly population. The growing trend of using sleep tracking apps and devices is further propelling demand.
- Asia-Pacific: Asia-Pacific is projected to be the fastest-growing region in the sleep screening devices market, with India, China, and Japan leading the charge. The rapid adoption of wearables, rising healthcare expenditure, and increasing disposable income are key growth factors.
Competitive Landscape
The sleep screening devices market is characterized by intense competition, with companies leveraging technological innovations, strategic partnerships, and new product launches to expand their market presence. Key players include:
- Philips Healthcare
- ResMed Inc.
- Natus Medical Incorporated
- Fitbit, Inc.
- Garmin Ltd.
- Sleep Cycle AB
- Amazon.com, Inc.
Companies are focusing on launching portable, user-friendly sleep devices that offer improved accuracy and connectivity with smartphones, enabling better data analysis and actionable insights for users.
Notable Developments
- 2022: Sleep Cycle launches “Sleep Goal” to help users set weekly sleep targets and track progress.
- 2021: Amazon secures FCC approval for a radar-based sleep monitoring device, marking its entry into the sleep health sector.
Market Outlook
The future of the global sleep screening devices market looks promising. The introduction of radar-based sleep monitoring, integration of wearable technology, and increased use of mobile apps are expected to drive further growth. With a projected CAGR of 6.6%, the market is likely to experience significant advancements, including more efficient, non-contact, and AI-powered sleep tracking solutions.
Key Takeaways
- The sleep screening devices market is projected to grow from US$ 9,298 million in 2023 to US$ 17,564.5 million by 2033, at a CAGR of 6.6%.
- Major growth drivers include the rising prevalence of sleep disorders, technological innovations, and increased demand for low-cost home testing devices.
- North America is the largest market, while Asia-Pacific is expected to witness the fastest growth.
- Companies such as Philips, ResMed, and Amazon are driving the market with innovative, AI-driven, and radar-based devices.
With increased awareness of the importance of sleep health and the rise of home-based sleep screening devices, the global market for sleep screening devices is set for sustained growth. Companies that focus on affordability, non-contact technology, and AI-driven insights will have a significant competitive edge in the coming years.
Key Segments Covered in the Market Report
By Product Type:
- Sleep Monitors
- Wearables
- Headband Devices
- Wrist Devices & Hand Bands Devices
- Ring Devices
- Sleep Mask Tracker Devices
- Non-wearables
- Bedside Non-Wearable Devices
- Under Sheet Non-Wearable Devices
- Under Mattress Non-Wearable Devices
- Smart Sleep Equipment
- Others
By Application:
- Circadian Rhythm Disorders
- Sleep Deprivation
- Narcolepsy
- Sleep Apnea
- Insomnia
By Distribution Channel:
- Hypermarkets and Supermarkets
- Retail Stores
- Pharmacy
- Online
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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