Global Sleep Study Market Set to Skyrocket, Forecasting Over USD 12,678.6 Million by 2034 Driven by Rising Sleep Disorder Awareness

Sleep Study Market
Sleep Study Market

The global sleep study market is poised for remarkable growth, propelled by the burgeoning prevalence of sleep disorders and heightened awareness of their adverse health effects. A recent market report projects the market size to surge from USD 6,754.2 million in 2024 to an astonishing USD 12,678.6 million by 2034, reflecting an impressive compound annual growth rate (CAGR) of 6.50%.

The escalating demand for sleep studies can be attributed to an evolving comprehension of the pivotal role quality sleep plays in overall health and well-being. As individuals gain deeper insights into the repercussions of sleep disorders, there’s a notable uptick in the pursuit of professional diagnosis and treatment through sleep studies.

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Key Drivers of the Sleep Study Market:

  • Rising Prevalence of Sleep Disorders: Conditions like sleep apnea and insomnia are becoming increasingly common, fueling the need for diagnostic tools like sleep studies.
  • Increased Awareness of Health Effects: The public is becoming more aware of the link between sleep disorders and various health problems, such as heart disease, diabetes, and depression.
  • Growing Focus on Well-being: A general emphasis on preventative healthcare and personal well-being is leading individuals to prioritize sleep health and explore diagnostic options.

Valuable Insights from the Sleep Study Industry Report:

The comprehensive report delves into various aspects of the sleep study industry, offering valuable insights for market participants and stakeholders. It covers key areas including:

  • Sleep Apnea Devices Market Outlook: Provides an analysis of the market trends and growth potential for sleep apnea devices used in sleep studies.
  • Demand for Sleep Testing Services: Explores the factors influencing the demand for sleep testing services and identifies key growth segments.
  • Polysomnography Devices Market Growth: Analyzes the market dynamics for polysomnography devices, the primary technology used in sleep studies.
  • Top Sleep Service Providers: Identifies the leading sleep service providers and analyzes their market share and strategies.
  • Sleep Disorder Clinics Demand in the United States: Provides insights into the demand trends for sleep disorder clinics within the US market.

This report offers a valuable resource for sleep study device manufacturers, sleep clinics, healthcare providers, and other stakeholders in the sleep health sector. By understanding the market trends and growth drivers, these players can make informed decisions and capitalize on the expanding sleep study market.

“The sleep study industry presents significant opportunities for expansion and innovation. Technological advancements in wearable sleep tracking devices, mobile applications, and home sleep testing kits offer convenient and cost-effective alternatives to traditional sleep study.“ Says a Lead Analyst at FMI

Key Takeaways from the Market Study:

  • The sleep study industry in the United States is projected to rise at a CAGR of 5.4% through 2034.
  • In the United Kingdom, the sleep study industry is likely to rise at a CAGR of 7.50% through 2034, supported by government initiatives promoting public health.
  • Thailand’s sleep study industry is anticipated to witness expansion at a CAGR of 12.5% through 2034.
  • India’s sleep study industry is projected to rise at a CAGR of 9.81% through 2034, driven by economic growth and changing lifestyles.
  • Germany’s sleep study market is expected to rise at a 5.17% CAGR through 2034.

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Competitive Landscape:

The competition outlook of the sleep study industry is characterized by both traditional and innovative players vying for market share. Established sleep clinics and diagnostic centers compete based on reputation, expertise, and the range of services offered. These incumbents often leverage long-standing relationships with healthcare providers and insurance networks to maintain a competitive edge. Additionally, advancements in diagnostic technologies and treatment modalities allow these players to differentiate themselves by providing state-of-the-art facilities and personalized care to patients.

The industry is also witnessing the emergence of disruptive entrants leveraging digital health platforms and telemedicine solutions. These innovative startups and tech companies are challenging traditional models by offering remote sleep evaluation services, home-based sleep monitoring devices, and AI-driven sleep analysis tools. By leveraging convenience, accessibility, and affordability, these newcomers are capturing market share among tech-savvy consumers seeking modern solutions for sleep management. Moreover, collaborations between traditional healthcare providers and digital health startups are blurring the lines between offline and online sleep services, intensifying competition and driving innovation.

Recent Developments:

  • In 2023, the International Institute of Sleep collaborated with EnsoData, an artificial intelligence firm that analyzes sleep data.
  • Vivos Therapeutics, Inc. partnered up with Empower Sleep, a digital healthcare platform that provides online treatment for sleep disorders, in 2021 to deliver vital diagnostic consulting services and medical care to those suffering from obstructive sleep apnea throughout North America.
  • Koninklijke Philips N.V., a Dutch firm, is a global leader in health technology, which includes sleep treatments. In 2023, it introduced Philips NightBalance, a novel sleep apnea screening gadget that employs a wearable sensor to monitor breathing patterns and deliver soothing vibrations to promote side sleeping.

Key Companies in the Market:

  • Circle Health Group
  • Cleveland Clinic
  • Competence Center of Sleep Medicine
  • Imperial College Healthcare NHS Trust
  • Interdisciplinary Center of Sleep Medicine
  • International Institute of Sleep
  • Koninklijke Philips N.V.
  • Korea University Medicine
  • London Sleep Centre
  • MedStar Health
  • Millennium Sleep Lab
  • Omni Sleep Health
  • PM Sleep Lab
  • ResMed
  • Singapore Neurology & Sleep Centre
  • Singular Sleep, LLC
  • Sleep Management Institute

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Key Segments:

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 Apnea
  • Insomnia
  • Restless Leg Syndrome
  • Circadian Rhythm Sleeping Disorders
  • Narcolepsy
  • Rapid eye movement (REM) Sleeping Disorders
  • Periodic Limb Movement Disorders
  • Bruxism

By End User:

  • Hospital Settings
  • Sleep Testing Centres
  • Home Care Settings

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

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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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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