Growing consciousness of the unfavourable results of untreated sleep apnea and the growing use of oral units

DUBLIN, January 24, 2022 /PRNewswire/ — The Sleep Tech Devices Market Research Report – Global Industry Analysis and Demand Forecast to 2030 has been added to ResearchAndMarkets.com offering.

With a growth of 14.5% CAGR between 2020 and 2030, the revenue of the global sleep technology devices market will be reached $49,984.7 million by 2030 onwards $12,888.4 million in 2020.

This is primarily attributed to the rising prevalence of sleep disorders worldwide, including insomnia, narcolepsy, restless legs syndrome, sleep apnea and parasomnias. These problems can cast a shadow over personal safety, school and work performance, relationships, thinking and mental health, leading to increased body weight, diabetes and even heart disease.

As a result, people suffering from these problems are increasingly using a variety of devices at home to diagnose, monitor, and treat sleep problems. In addition, their use is increasing in hospitals, sleep labs and clinics, where the number of patients seeking a diagnosis of their sleep disorders is increasing. In terms of personal use, their sales remain highest among those under the age of 45, as this demographic is more tech-savvy than older people.

Wearable devices are seeing higher demand because they have embedded microsensors that continuously track people’s physiological behavior. The use of these devices will increase fastest for the treatment of sleep apnea, which has a global incidence of more than 900 million people, according to RT Magazine.

North America is the largest sleep technology device market to date due to rapid technological advances, improving healthcare infrastructure, high prevalence of obesity and increasing geriatric population.

In addition, key regional market are collaborating with well-known companies and individuals as part of a marketing strategy. For example, Kryo Inc. is working with the Seattle Mariners and the Cincinnati Reds, with teams using their OOLER sleep system to induce deep sleep.

Device sales will grow the fastest Asia Pacific (APAC) due to advances in wearables technology and booming aging population, particularly in India and China.

Major launch new and improved products. For example, the fitness tracker Samsung Galaxy Fit 2 was launched Sept 2020; it allows you to track step count, sleep , and heart rate.

Although the market for sleep technology devices was negatively impacted by the COVID-19 pandemic in the first two quarters of 2020, it has been experiencing a revival since the lockdown was lifted. Social and physical isolation and financial stress have left people with many sleepless nights, which has increased the use of tools to diagnose, monitor and treat sleep disorders.

market dynamics

tendencies

  • Technological progress

driver

  • Increasing prevalence of sleep disorders
  • Growing awareness of the negative effects of untreated sleep apnea
  • Increase in use of oral devices
  • Impact Analysis of Drivers on Market Forecast

limitations

  • Strict regulatory norms
  • High prices for Sleep Tech devices
  • Impact Analysis of Restrictions on Market Forecast

Effects of COVID-19

Porter’s Five Forces Analysis

The major in the Sleep Technology Market are

  • Massimo Corporation
  • Royal Philips NV
  • Fitbit Inc.
  • Samsung Electronics Co.Ltd.
  • xiaomi inc
  • apple inc
  • Garmin Ltd.
  • Fossil Group Inc.
  • Resmed
  • Compumedics
  • Nihon toward Corporation
  • Huawei Technology Co.Ltd.
  • ASUSTeK Computer Inc.
  • Withings
  • Motorola Mobility LLC

For more information about this report, visit https://www.researchandmarkets.com/r/et33hw

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SOURCE Research and Markets

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