Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Sleep Tech Devices market.
Trusted Business Insights presents an updated and Latest Study on Sleep Tech Devices Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Sleep Tech Devices market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Get Sample Copy of this Report @ Sleep Tech Devices Market: by Product (Sleep monitoring devices, Sleep wearables, Sleep trackers, Sleep gadgets, Digital application tools and others) and End user (Hospitals, Home care settings, Sleep laboratories and others)-Global Industry Analytics COVID-19 Business Impact, and Trends, 2019-2025
The report covers forecast and analysis for the Sleep Tech Devices market on a global and regional level. The study provides historic data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints for the Sleep Tech Devices market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Sleep Tech Devices market on a global level. In order to give the users of this report a comprehensive view on the Sleep Tech Devices market we have included competitive landscape and analysis of Porters Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein Product, End user, and regional segments are benchmarked based on their market size, growth rate and general attractiveness.
According to the report, global demand for Sleep Tech Devices Market was valued at approximately USD 11.79 Billion in 2018, and is expected to generate revenue of around USD 26.62 Billion by end of 2025, growing at a CAGR of around 12.44 % between 2018 and 2025.
Sleep tech devices are electronic devices used to monitor and improve sleep for people with sleep apnea, narcolepsy, and insomnia. A variety of technologically improved sleep tech devices are available on the market, including wearable smart watches and bands, headbands, rings, sleep pads, beds and ear plugs. Sleep improvement apps have seen significant developments over the past couple of years that have revolutionized the sleep tech industry. In addition to tracking sleep, newly developed sleep tech devices can also control temperatures that may otherwise disturb sleep. The increased availability of such upgraded sleep devices will have a positive impact on the growth of the market for sleep tech devices.
The study provides a decisive view on the Sleep Tech Devices market by segmenting the market based on Product, End user and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on Product, the market is segmented into Sleep monitoring devices, Sleep wearables, Sleep trackers, Sleep gadgets, Digital application tools and others. Due to the advent of new and innovative gadgets, the sleep gadgets segment will see robust growth over the forecast time frame. Modern sleeping gadgets are principally based on technology based on neuroscience and enable a 20-minute power nap corresponding to two hours of regular sleep. These gadgets comprise of comb cream, a device to stimulate cranial electrotherapy (CES), an eye mask and an app to soothe and relax the body. Such devices help people to reduce stress and fatigue and increase productivity significantly.
Based on the End user segment, the market is bifurcated into Hospitals, Home care settings, Sleep laboratories and others. Home care settings in the coming years will see significant growth. People are inclined to home sleep test devices because they are portable and can easily measure biological parameters that are responsible for sleep disorders. Once sleep tech tools have been mounted, people can feel comfortable and easily fall asleep. The comfort provided by home care settings is gaining favor among people who are expected to drive growth in the segment.
The geographical segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. During the forecast period, North America is expected to dominate the global market. It is estimated that 22 Billion people in the U.S. suffer from sleep apnea, and 80 percent of cases of moderate to extreme obstructive sleep apnea are undiagnosed, according to an article published in 2017 by the American Sleep Apnea Association. In addition, a growing prevalence of obesity and a rising geriatric population, especially in developed and other developing countries such as Australia, China and India, has led to an increased prevalence of obstructive sleep apnea.
Over the forecast period, rising geriatric population base will fuel market growth in sleep tech. Geriatric populations are vulnerable to rising chronic diseases such as cardiovascular disease and high blood pressure. Such diseases are known to cause metabolism to act inappropriately, which can lead to changes in rhythm and breathing patterns. Such changes include disruptive sleeping habits as a major consequence. In both developed and developing countries, aging demographics will further increase the demand for sleep tech devices to address the disruptive sleep problem in the geriatric population. Strict regulatory requirements for medical devices, however, were predicted to impede to some extent industrial growth.
Key players within global Sleep Tech Devices market include Autonomic Technologies (ATI), Baxter Healthcare Corporation, Bionano Genomics, Compumedics Limited, Infraredx, Inc., Inovio, Pharmaceuticals, Masimo Corporation, Neovasc Inc., and Nihon Kohden Corporation, Inc. amongst others.
The report segments global Sleep Tech Devices market as follows:
Global Sleep Tech Devices Market: Product Segment Analysis
Sleep monitoring devices
Digital application tools
Global Sleep Tech Devices Market: End user Segment Analysis
Home care settings
Global Sleep Tech Devices Market: Regional Segment Analysis
Middle East and Africa
Quick Read Table of Contents of this Report @ Sleep Tech Devices Market: by Product (Sleep monitoring devices, Sleep wearables, Sleep trackers, Sleep gadgets, Digital application tools and others) and End user (Hospitals, Home care settings, Sleep laboratories and others)-Global Industry Analytics COVID-19 Business Impact, and Trends, 2019-2025
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