The global sleep tech devices market is anticipated to grow at a significant CAGR of 16% during the forecast period. The rising burden of sleep disorders, including insomnia, narcolepsy, restless leg syndrome, sleep apnea, and parasomnias, globally is expected to have a major impact on the demand for sleep tech devices. According to a study conducted by the Sleep Foundation, between 10% and 30% of adults struggle with chronic insomnia every year. In addition, 15-30% of males and 10-30% of females are diagnosed with obstructive sleep apnea (OSA) in 2021. Moreover, according to American Sleep Apnea Association (ASAA), sleep apnea, has become a significant health issue in the US. It is estimated that 22 million Americans suffer from sleep apnea, with 80% of the cases of moderate and severe obstructive sleep apnea undiagnosed. This rising prevalence of sleep disorders is attributed to growing stress levels due to the transforming lifestyle of people. As a result, people are inclined toward sleep tech devices that control and manage sleep disorders. Owing to the growing cases of sleep apnea and other sleep disorders, sleep tech devices are highly recommended by healthcare professionals working in specialist clinics to boost mental health in individuals which is further adding to the growth of the market.
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Although the sleep tech devices market was negatively affected by the COVID-19 pandemic due to the closing of production facilities of devices, as a result of the implementation of lockdown globally. However, during the COVID-19 pandemic, a large number of infected people suffered from sleep deficiency, as a result of health problems caused by the virus, which in turn, affected the sales of these sleep tech devices. People started working from home and investing in their health which augmented the use of sleep tech instruments that can diagnose monitor, and manage sleep disorders.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Sleep Tech Devices Market by Product
- Sleep Wearables
- Sleep Monitors
- Smart Beds
- Digital Application Tools
- Others
Global Sleep Tech Devices Market by End-Use
- Hospitals
- Home-Care Settings
- Others
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Anhui Huami Information Technology Co., Ltd.
- Apollo Neuroscience, Inc.
- Comfort Grid Technologies
- Compumedics Ltd.
- Dreem
- Eight Sleep, Inc.
- Emfit Ltd
- Evosonics Co., Ltd.
- Fitbit LLC
- HoneyNaps
- InteraXon Inc.
- Kokoon Technology Limited
- LIVLAB SARL
- Masimo
- MindtecStore Europe
- 10minds
- Nihon Kohden America
- Nokia Corporation
- Oura Health Oy
- Pulsewear Inc.
- ROFFE INTERNATIONAL HOLDINGS PTE LTD
- Sleepace
- Sleep Cycle AB
- Sleepme Inc.
- Sleep Shepherd LLC.
- SNOOZ, INC.
- Solace Lifesciences, Inc. (NuCalm)
- Xiaomi Global Community
- Zeus
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global sleep tech devices market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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