Home Sleep Screening Devices Market: Global Size, Share, Trends, Growth and Forecast 2022-2032
Home Sleep Screening Devices Market: Overview and Definition
The home sleep screening devices market is expected to witness market growth at a rate of 7.5% in the forecast period of 2022 to 2032 and is expected to reach USD 4950.5 billion by 2032.
The home sleep screening devices market refers to the various types of devices that are used to screen for sleep disorders such as sleep apnea, insomnia, and restless leg syndrome in the comfort of one's own home. These devices are generally less expensive and more convenient than traditional sleep studies that require an overnight stay at a sleep center.
The global home sleep screening devices market is expected to experience significant growth over the coming years due to factors such as the rising prevalence of sleep disorders, increasing awareness of the importance of sleep health, and the growing demand for home-based diagnostic and treatment options.
There are several types of home sleep screening devices available, including wearable devices such as wristbands and headbands, home sleep testing kits that monitor breathing and heart rate, and smartphone apps that use sensors to track sleep patterns.
Growth Drivers – Home Sleep Screening Devices Market
Rising Prevalence of Sleep Disorder Diseases
Increasing incidence of sleep related disorder diseases such as obesity, adenoids and others across the globe is anticipated to drive the growth of global home sleep screening devices market. Public awareness campaigns and sleep disorder education initiatives are resulting in growth in awareness and is anticipated to bring down the number of undiagnosed patients. Apart from this, growing awareness regarding comorbid conditions is believed to spur growth of global home sleep screening devices market.
Development of Innovative Home Sleep Screening Devices
Major manufacturers of home sleep screening devices are focusing on the research & development and launching various new innovative products in the market. For instance, on July 16, 2019, ProSomnus® Sleep Technologies launched three new sleep care products at AADSM 26th Annual Meeting in Boston. Furthermore, this technological advancement is expected to positively impact the growth of global home sleep screening devices market.
Barriers – Home Sleep Screening Devices Market
High Cost of Home Sleep Screening Devices
High cost of home sleep screening devices is one of the major factors restraining the growth of global home sleep screening devices. Moreover, low awareness regarding benefits of home sleep screening devices in undeveloped and developing nations is also acting as a restraint for global home sleep screening devices market.
The home sleep screening devices market by product type is segmented into sleep monitors, and smart sleep equipment. The market for sleep monitors captured highest percentage in 2019. Moreover, it is anticipated to continue its dominance during the forecast period. This can be attributed to growing awareness among population across the globe.
Further, global home sleep screening devices market is also segmented by distribution channel into pharmacy, retail stores, online sales, hypermarkets and supermarkets and others. Online stores segment is likely to witness highest year-on-year growth during the forecast period.
Geographically, the report offers analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In home sleep screening devices market, North America acquired leading position in global home sleep screening devices market. Rising geriatric population coupled with high awareness about sleep related disorders is expected to drive the growth of North America home sleep screening devices market. Moreover, Asia Pacific home sleep screening devices market is expected to witness significant growth during the forecast period. Rising awareness regarding sleep apnea is anticipated to intensify the demand for home sleep screening devices in Asia Pacific.
The report profiles various major market players such as;
- Koninklijke Philips N.V.
- Fitbit, Inc.
- Huami Corporation
- Garmin Ltd.
- Huawei Technologies Co., Ltd.
- ResMed Inc.
- Responsive Surface Technology, LLC
- Simmons Bedding Company LLC
- SleepWorks, LLC
- Cleveland Medical Devices Inc.
- Other Key & Niche Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
The study also provides company’s positioning and market share in home sleep screening devices market.
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global home sleep screening devices market by the following segments:
- Product Type
- Distribution Channel
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Home Sleep Screening Devices Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?