Categories: Healthcare

Sleep Testing Services Market Trends, Segments, Demand 2024-2033 | ResMed Inc., Invacare Corporation, Natus Medical Incorporated, Marshall Medical Center, SleepMed Incorporated

The Sleep Testing Services Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Sleep Testing Services Global Market Report 2024, The sleep testing services market size has grown strongly in recent years. It will grow from $7.06 billion in 2023 to $7.67 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to increased awareness of sleep disorders, rise in incidence of sleep apnea, obesity epidemic, increased stress and lifestyle changes, insurance coverage expansion.

The sleep testing services market size is expected to see strong growth in the next few years. It will grow to $10.85 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to growing emphasis on mental health, development of home sleep testing devices, increasing cases of insomnia, employer wellness programs, patient education and advocacy. Major trends in the forecast period include integration of wearable technology, telemedicine and remote sleep consultations, advanced sleep monitoring devices, collaborations with healthcare providers, research on sleep-related comorbidities.

Increase in the number of patients suffering from sleep disorders is expected to boost the growth of the sleep testing services market going forward. Sleep disorders, also known as sleep-wake disorders, refer to difficulties with the type, quantity, and timing of sleep such as obstructive sleep apnea, parasomnias, narcolepsy, and restless leg syndrome that frequently co-occur with physical ailments or other mental health issues like anxiety, depression, or cognitive disorders. Sleep testing services are used to treat people suffering from obstructive sleep apnea by sharing patient information for the improvement of disease management and recommending a number of treatment approaches for patients. For instance, in May 2023, according to SleepFoundation.org, a US-based non-profit charitable organization providing sleep health information and in-depth product testing, 50 million to 70 million people are suffering from ongoing sleep disorders, which have increased due to post-traumatic stress disorder (PTSD), while 70% of adults suffer from seasonal affective disorder (SAD). Insomnia that interferes with daily activities affects 9% to 15% of the adult US population. Therefore, the increase in the number of patients suffering from sleep disorders is driving the growth of the sleep testing services market.

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The sleep testing services market covered in this report is segmented –

1) By Diagnostic Type: Home Sleep Testing, In-Lab Sleep Testing

2) By Application: Obstructive Sleep Apnea, Insomnia, Rapid Eye Movement (REM) Sleep Disorder, Restless Legs Syndrome, Narcolepsy, Circadian Rhythm Sleeping Disorders

3) By End-User: Sleep Centers, Hospitals, Home Care Settings

New product innovation is a key trend gaining popularity in the sleep testing services market. Major companies operating in the sleep testing services market engage in developing new and improved products as well as adding new features to their products to sustain their position in the market. For instance, in May 2023, Acurable, a UK-based wearable medical device company, launched AcuPebble SA100, its AcuPebble device for the diagnosis of obstructive sleep aponea (OSA) in the US. This device aims to enhance the problematic home sleep aponea testing procedure, allowing for earlier detection, quicker treatment, and improved management of this chronic condition.

The sleep testing services market report table of contents includes: