Contact-free Sleep Monitoring Systems Industry Primed to Exceed US$ 214.7 Million by 2033-FMI Projection

The contact-free sleep monitoring devices industry size is expected to grow from its estimated valuation of US$ 98.6 million in 2023 to US$ 214.7 million by 2033. An 8.1% compound annual growth rate (CAGR) is predicted for the market share of contact-free sleep monitoring devices between 2023 and 2033.

Self-care and tracking one’s personal health are growing trends as the world’s emphasis on health and wellness is increasing. Consumers are actively looking for goods and services that improve their health, including tools for monitoring their sleep patterns. By providing a simple approach for people to monitor their sleep quality and adjust their lifestyles, contact-free sleep monitoring systems fit well with this trend.

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The healthcare sector, particularly hospitals and sleep clinics, has found utility in contact-free sleep monitoring equipment. These devices are useful tools for medical professionals to accurately detect sleep problems and track patients’ sleep patterns throughout overnight studies. They are suitable for use with patients who might be sensitive to conventional monitoring techniques due to their non-invasive nature. Growing healthcare applications are expected to uptick market growth in the coming years.

The growth of wearable technology, including smartwatches and fitness bands, has significantly boosted the market for sleep monitoring. Several of these wearables provide sleep-tracking features, such as contact-free sleep monitoring options. The popularity of sleep monitoring technologies is increasing as wearable technology becomes more widespread.

The market for sleep monitoring is benefiting from the worldwide shift towards telemedicine and remote health monitoring. Through the integration of contact-free sleep monitoring equipment into telehealth platforms, medical experts are able to remotely track patients’ sleep patterns and provide individualized recommendations or interventions.

Key Takeaways:

• In 2018, the global market size stood at US$ 67.2 million.
• The market expanded at a CAGR of 6.5% from 2018 to 2022.
• In 2022, the global market size stood at US$ 92.2 million.
• The systemsegment under component type captured 73.1% of global market shares in 2022.
• The hospitals segment acquired 46.2% of global market shares in 2022.
• India captured 10.4% of global market shares in 2022.
• The United States captured a massive 40.2% of global market shares in 2022.
• China captured 6.3% of global market shares in 2022.
• The United Kingdom captured 7.3% of global market shares in 2022.

Recent Developments Observed by FMI:

• To further improve the safety of newborn infants and the peace of mind of parents, Taiwanese tech startup Cubo Ai unveiled a new product in August 2022 to complement its award-winning Cubo Ai Plus Smart Baby Monitor: the AI Sleep Sensor Pad. This latest addition is capable of identifying a baby’s breathing action. At CES 2022, the firm exhibited its product.
• In January 2022, EarlySense®, the industry pioneer in contact-free continuous monitoring systems, unveiled its InSight+® sensing technology system, a CES® 2022 Innovation Awards Honoree and investigational product not yet ready for purchase.

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Key Players in the Global Market

• SleepScore Labs
• Resmed
• Samsung
• EarlySense Ltd.