Sleep Tech Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.
The sleep tech devices market expansion will be augmented by the growing awareness pertaining to the availability and significance of sleep tracker devices. The products aid people suffering from sleeping disorders and are witnessing increased demand across developing and developed economies.
As per the American Sleep Association, it is estimated that about 50-70 million adults in the U.S. have a sleep disorder in which insomnia is considered as the most common. Also, short-term insomnia issues occur in nearly 30% of adults and chronic insomnia accounts for about 10%. The adoption of sophisticated sleep tracker device provides effective tracking of sleep patterns and helps in improving sleep behavior.
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According to a GMI, report, global sleep tech devices market size is projected to surpass US$32 billion by 2026.
With respect to gender, the devices for female led the market demand over the years and is further divided into <18, 18-36, 37-55, >55 age band. The increase in the number of pregnancies annually in both developed and developing countries has driven sleep tech device adoption. Pregnant women tend to suffer from insomnia. Women with post-menopause symptoms also face issues in sleeping.
According to the National Sleep Foundation in America, studies claim that women are more likely to have difficulty falling asleep when compared to men and they also witness daytime sleepiness at least for a few days a week. Wearable sleep tech devices, in particular, have witnessed considerable demand over the years, this is due to the efforts undertaken by the manufacturers to develop easy, convenient, cost-effective, and readily available sleep monitoring tools like smartwatches, bands, and others. These are available in the form of wrist bands, earplugs, head belts, and others.
For instance, a China-based smart wearable giant that focuses on digital health management- Zepp in November 2020 launched Zepp Z which is a go-to brand for athletes to improve their performance. To improve its offerings, the team is working with the Stanford University Sleep Center to monitor the effects of sleep on the physical recovery of both healthy people and sick patients.
Wearable devices like these and many others help in offering accurate data with respect to sleeping patterns and are also user-friendly. This data may be used by healthcare experts to study and recommend treatment to the patients. Concerning the application spectrum, the market is segmented into devices designed for narcolepsy, obstructive sleep apnea, insomnia, and others.
The narcolepsy segment has registered considerable recognition due to its growing prevalence. As per reports, Narcolepsy affects nearly 1 in every 2,000 Americans. Sleep tech devices like sleep trackers are used by patients for therapeutic purposes in narcolepsy. The use of wearable devices provide a clear picture of the sleeping pattern and also monitor the disturbances in the sleeping patterns of the people affected with narcolepsy.
The Asia Pacific sleep tech devices market has showcased tremendous growth over the years due to the efforts undertaken by the healthcare organizations and the government to spread awareness among the citizens regarding the symptoms and negative effects of sleep deprivation along with the use of advanced sleep tech devices, when necessary. For instance, the Government of India has established online health portals to help citizens affected with insomnia.
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In addition to the above, many industry players are also entering into the emerging economies to explore opportunities, subsequently fueling the regional market growth. The sleep tech devices market is endowed with prominent market players that are working toward developing high technology products that meet the demands of the patients. Some of the leading sleep tech device companies include Emfit, Casper Sleep, Withings, Beddit, ResMed, Xiaomi, Dream, and Eight Sleep, among various others.
An increase in factors like stress, incidences of chronic diseases like renal disorders, cardiovascular diseases, and others, and regular consumption of alcohol can lead to sleeping disorders among many. With measures taken by healthcare institutions along with the government to spread awareness for the need to seek treatment in case of sleep disorders, sleep tech device manufacturers are working towards developing advanced solutions to tackle the growing problem.
Partial Chapter of the Table of Content
Chapter 4 Sleep Tech Devices Market, By Product
4.1 Key segment trends
4.2.1 Market size, by region, 2015-2026 (USD Million)
4.2.2 Smart watches and bands
184.108.40.206 Market size, by region, 2015-2026 (USD Million)
220.127.116.11 Market size, by region, 2015-2026 (USD Million)
4.3.1 Market size, by region, 2015-2026 (USD Million)
4.3.2 Sleep monitors
18.104.22.168 Market size, by region, 2015-2026 (USD Million)
22.214.171.124 Market size, by region, 2015-2026 (USD Million)
126.96.36.199 Market size, by region, 2015-2026 (USD Million)
Chapter 5 Sleep Tech Devices Market, By Gender
5.1 Key segment trends
5.2.1 Market size, by region, 2015-2026 (USD Million)
188.8.131.52 Market size, by region, 2015-2026 (USD Million)
184.108.40.206 Market size, by region, 2015-2026 (USD Million)
220.127.116.11 Market size, by region, 2015-2026 (USD Million)
18.104.22.168 Market size, by region, 2015-2026 (USD Million)
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