Soaring Demand Set to Propel Sleep Testing Services Market to $12.18 Billion by 2029

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What Is the Expected CAGR for the Sleep Testing Services Market Through 2025?
In recent times, there has been robust growth in the size of the sleep testing services market. This market is predicted to expand from $7.72 billion in 2024 to $8.36 billion in 2025, with a compound annual growth rate (CAGR) of 8.4%. The growth witnessed in the historic period is due to factors such as growing awareness of sleep disorders, increasing occurrences of sleep apnea, the obesity epidemic, heightened stress levels, lifestyle transformations, and the broadening of insurance coverage.

What's the Projected Size of the Global Sleep Testing Services Market by 2029?
In the coming years, the market size of sleep testing services is projected to experience significant growth, potentially reaching $12.18 billion in 2029 with a compound annual growth rate (CAGR) of 9.8%. This predicted growth for the forecast period can be linked to several factors, including heightened awareness regarding mental health, the advancement of sleep testing devices for home use, an increase in insomnia cases, encouragement of employer wellness programs, as well as improved patient profiling and advocacy. Future trends in this forecast period involve the incorporation of wearable technologies, the provision of sleep consultations via telemedicine, advanced sleep tracking devices, strategic partnerships with healare professionals, and comprehensive research into sleep-related coexisting conditions.

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Top Growth Drivers in the Sleep Testing Services Industry: What's Accelerating the Market?
The expected growth in the sleep testing services market is forecasted due to a rising number of individuals battling sleep disorders. Sleep-wake disorders, another term for sleep disorders, involve complications concerning the type, quality, and timing of sleep. This includes disorders such as obstructive sleep apnea, parasomnias, narcolepsy, and restless leg syndrome which often coincide with physical illnesses or mental health concerns including anxiety, depression, or cognitive disorders. Sleep testing services play a pivotal role in the treatment of obstructive sleep apnea through the provision of patient information for better disease management and suggesting multiple treatment strategies. As per SleepFoundation.org, a US-based non-profit charitable organization that offers comprehensive sleep health information and detailed product testing, between 50 million to 70 million individuals are struggling with chronic sleep disorders in May 2023. This increase has been linked to post-traumatic stress disorder (PTSD) while 70% of adults grapple with seasonal affective disorder (SAD). The interference of insomnia with everyday activities affects 9% to 15% of the adult US population. Therefore, the upsurge in the number of patients facing sleep disorders is propelling the growth of the sleep testing services market.

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What Trends Will Shape the Sleep Testing Services Market Through 2029 and Beyond?
The introduction of new products is becoming a prevalent trend in the sleep testing services market. To maintain their market standing, leading businesses in this sector are focusing on creating novel and upgraded products, infusing additional features into existing ones. For example, Acurable, a UK-based firm that manufactures wearable medical devices, debuted its AcuPebble SA100 in May 2023, a product under its AcuPebble line designed for the US market to diagnose obstructive sleep apnea (OSA). The device is designed to advance the process of home sleep apnea testing, enabling earlier detection, expedited treatment, and more effective management of this chronic disease.

What Are the Main Segments in the Sleep Testing Services Market?
The sleep testing services market covered in this report is segmented -

1) By Diagnostic Type: Home Sleep Testing, In-Lab Sleep Testing
2) By Application: Obstructive Sleep Apnea, Insomnia, Rapid Eye Movement (REM) Sleep Disorder, Restless Legs Syndrome, Narcolepsy, Circadian Rhythm Sleeping Disorders
3) By End-User: Sleep Centers, Hospitals, Home Care Settings

Subsegments:
1) By Home Sleep Testing: Portable Monitors, Oximetry Testing, Full-Body Sleep Monitors
2) By In-Lab Sleep Testing: Polysomnography (PSG), Multiple Sleep Latency Test (MSLT), Maintenance Of Wakefulness Test (MWT)

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Which Top Companies are Driving Growth in the Sleep Testing Services Market?
Major companies operating in the sleep testing services market include ResMed Inc., Natus Medical Incorporated, Marshall Medical Center, SleepMed Incorporated, Medical Service Company, CareCentrix Inc, Medbridge Healare LLC, Sleep Services Australia, Midwest Sleep Services Inc., Koala Centers For Sleep & TMJ Disorders, Sleep Dynamics, Advara HeartCare, St. Luke's Sleep Medicine and Research Center, SOVA Sleep Services Inc., Total Sleep Solutions (Opc) Private Limited (TSSPL), Atrium Health Group LLC, HomeSleep LLC, SleepWorks LLC, Respitech Healare, Healthy Sleep Solutions, Sleep Data Holdings LLC, Sleep Solutions Inc, ApneaMed, BetterNight, UAB Medicine Sleep/Wake Disorders Center, Sleepwell Diagnostics, Snore Australia Pty Ltd.

Which Regions Will Dominate the Sleep Testing Services Market Through 2029?
North America was the largest region in the sleep testing services market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the sleep testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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