Millions struggle with sleep issues, and the Sleep Screening Devices Market is rising to meet the growing demand. According to a recent report by Future Market Insights (FMI), the industry is experiencing a significant surge, with the market value projected to climb from an estimated USD 8.73 billion in 2022 to a staggering USD 9.30 billion in 2023. This translates to an impressive growth of over USD 560 million and a Compound Annual Growth Rate (CAGR) of 6.6%.
The surge in demand caused by the increasing occurrence of sleep disorders around the globe is responsible for this extraordinary expansion. An important factor driving the market growth for sleep screening devices is the growing awareness of the significance of sleep health and the rise in disposable income.
Future Market Insights’ comprehensive business report delves into the historical and current panorama of the Global Sleep Screening Devices Industry, offering in-depth insights into production, consumption, volume, and value trends. The report meticulously dissects the market, segmenting it based on demand patterns, growth prospects, regions, and key players.
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The Sleep Screening Devices market report contains critical information and forecast statistics that will provide both existing and emerging market players with the necessary insights to craft long-term strategies and maintain business continuity during a crisis such as the ongoing COVID-19 pandemic.
COVID-19 Impact Analysis on Sleep Screening Devices Market
The recent COVID-19 outbreak has focused attention on the healthcare industry, affecting the Global Sleep Screening Devices Industry. Severe shortages of critical medical supplies, combined with an increase in the number of COVID-19 cases, have resulted in a revolution rather than an evolution in healthcare ecosystems. As a result, the impact is visible in the Sleep Screening Devices market.
Doctors are delaying or postponing elective surgeries unless absolutely necessary to prevent the spread of the virus to individuals with comorbidities or chronic conditions, under government measures, particularly social distancing norms and stay-at-home orders. Furthermore, movement restrictions and disruptions in supply chains have created a logistical nightmare for market participants, resulting in severe product shortages in the global marketplace.
The FMI report contains an interesting chapter on the preliminary impact of COVID-19 on the market for Sleep Screening Devices. This enables both leading and emerging market players to comprehend the market scenario during a crisis and to make sound decisions to gain a distinct competitive advantage.
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Sleep Screening Devices Market: Segmentation
Valuable information covered in the FMI’s Sleep Screening Devices market report has been segregated into key segments and sub-segments.
By Product Type:
- Sleep Monitors
- Type IV
- Type III
- Type II
- 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
- Smart Mattresses and Pillows
- Smart Beds
By Application:
- Circadian Rhythm Disorders
- Sleep Deprivation
- Narcolepsy
- Sleep Apnea
- Insomnia
By Distribution Channel:
- Hypermarkets and Supermarkets
- Retail Stores
- Pharmacy
- Online
Sleep Screening Devices Market: Competition Analysis
The FMI’s study presents a comprehensive analysis of global, regional, and country-level players active in the Sleep Screening Devices market. Competitive information detailed in the Sleep Screening Devices market report has been based on innovative product launches, distribution channels, local networks, industrial penetration, production methods, and revenue generation of each market player. Furthermore, growth strategies and mergers & acquisitions (M&A) activities associated with the players are enclosed in the Global Sleep Screening Devices Industry report.
Key players covered in the report include:
- Dream Sleep
- NovaSom
- VirtuOx
- Koninklijke Philips
- SleepWorks
- Itamar Medical (ZOLL Medical)
- ApneaMed
- Garmin
- ResMed
- Cleveland Medical Devices
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Important Questions Answered in the Sleep Screening Devices Market Report
- Which end-user remains the top revenue contributor in different regional markets?
- At what rate has the Global Sleep Screening Devices Industry been expanding during the forecast period?
- How will the Global Sleep Screening Devices Industry look like by the end of the forecast period?
- What innovative strategies are adopted by Sleep Screening Devices market players to stay ahead of the pack?
- What are the restraints affecting the growth of the Global Sleep Screening Devices Industry?
Key Offerings of the Report
- Growth Drivers and Opportunities: Comprehensive analysis on growth-driving factors and opportunities for market players in different regional markets
- Recent Trends and Forecasts: Detailed assessment on the latest trends, technological developments, and forecasts for a 5-year or 10-year period.
- Segmental Analysis: Extensive analysis on each segment and factors differentiating the role of these segments in market revenue forecasts and growth rate analysis
- Regional Market Forecast: Thorough analysis of each regional market to arm stakeholders with necessary information to take critical decisions
- Competitive Landscape: All-inclusive insights on both leading and emerging players vying for a slice of the Sleep Screening Devices market
Author
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 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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