Sleep Study Equipment Market Expected to Achieve 7% CAGR by 2029: Growth Forecast Insights

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How Large Will the Sleep Study Equipment Market Size By 2025?
Recent years have seen robust growth in the market size of sleep study equipment. The market, which is valued at $4.78 billion in 2024, is expected to climb to $5.11 billion in 2025, recording a compound annual growth rate (CAGR) of 6.9%. The market expansion during this historical period can be linked to various factors including an increase in the aging population, growing obesity rates, the trend towards home healthcare, the surge in e-commerce, and rising levels of stress.

How Big Is the Sleep Study Equipment Market Size Expected to Grow by 2029?
Expectations are for the sleep study equipment market size to experience robust growth in the coming years. The market is projected to expand to $6.71 billion in 2029, with a compound annual growth rate (CAGR) of 7.0%. The forecasted growth can be credited to an upsurge in sleep research investment, broadening of telehealth services, continuous progress in wearable sleep technology, emphasis on mental health, and international health initiatives. Key trends anticipated during the forecast period involve the rise of startups, creation of non-invasive devices, growth in insurance coverage, partnerships and cooperations, and the incorporation of AI.

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Which Key Market Drivers Powering Sleep Study Equipment Market Expansion and Growth?
The sleep study equipment market is projected to expand due to the increasing incidence of sleep disorders. These disorders, which impede regular sleep patterns, compromising the volume, quality, or timing of sleep, can result in excessive sleepiness during the day. The escalating number of sleep disorders is primarily attributed to socioeconomic pressures, lifestyle changes, and the aging demographic. Sleep study devices come in handy for diagnosing and managing such sleep disorders by tracking sleep cycles and physical data, enabling customization of treatments based on identified issues. For instance, SleepFoundation.org, an American non-profit organization committed to disseminating sleep health information and conducting exhaustive product testing, conducted a survey in May 2023. The results showed that between 50 million and 70 million individuals suffered chronic sleep disorders, a surge associated with post-traumatic stress disorder (PTSD). Also, Seasonal Affective Disorder (SAD) has impacted 70% of grownups. Hence, the growing occurrence of sleep disorders is boosting the sleep study equipment market's growth.

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What Are the Key Trends Driving Sleep Study Equipment Market Growth?
The primary players in the sleep study equipment market are emphasizing on the creation of enhanced solutions, like AI-powered sleep scoring platforms, to promote diagnostic precision, fine-tune treatment strategies, and upgrade patient results. The incorporation of Artificial Intelligence (AI) in sleep study equipment means building in cutting-edge AI technologies into devices and systems for sleep pattern monitoring and analysis. For instance, Neurobit Inc., a US-based health analytics firm launched an AI-driven sleep scoring platform, Neurobit PSG, in August 2023. This platform aims to revolutionize sleep analysis for healthcare providers, researchers, sleep laboratories, and businesses. Its software provides accurate and efficient sleep scoring using sophisticated AI algorithms, helping researchers and healthcare professionals streamline their workflows. It also safely houses patient sleep data within the sleep lab's internal network, upholding high standards of data security.

What Are the Emerging Segments in the Sleep Study Equipment Market?
The sleep study equipment market covered in this report is segmented -

1) By Type: Sleep Monitors, Masks And Interfaces, Sensors And Accessories, Smart Beds And Pillows, Other Types
2) By Application: Online Sales, Offline Sales
3) By End User: Hospitals, Sleep Centers, Home Care Settings, Other End Users

Subsegments:
1) By Sleep Monitors: Polysomnography (PSG) Devices, Home Sleep Testing (HST) Devices, Oximeters, Wearable Sleep Monitors, Sleep Tracking Apps
2) By Masks And Interfaces: CPAP Masks (Continuous Positive Airway Pressure), BiPAP Masks (Bilevel Positive Airway Pressure), Nasal Cannulas, Full Face Masks, Nasal Pillow Masks, Hybrid Masks
3) By Sensors And Accessories: EEG Sensors (Electroencephalogram), EKG Sensors (Electrocardiogram), Pulse Oximeters, Respiratory Sensors, Temperature Sensors, Motion Sensors, Electrodes And Leads
4) By Smart Beds And Pillows: Smart Mattresses, Smart Pillows, Adjustable Beds, Anti-Snore Pillows, Sleep Positioning Devices
5) By Other Types: Sleep Therapy Devices, Light Therapy Systems, Sound Machines, Aromatherapy Devices, Air Purifiers For Sleep, Sleep Apps And Software Solutions

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Who Are the Global Leaders in the Sleep Study Equipment Market?
Major companies operating in the sleep study equipment market are Apple Inc., Samsung Electronics Co. Ltd., Xiaomi Corporation, Becton Dickinson and Company, Koninklijke Philips N.V., ResMed Inc., Nihon Kohden Corporation, Fitbit Inc., Fisher & Paykel Healthcare Limited, Loewenstein Medical Inc., DeVilbiss Healthcare LLC, Natus Medical Incorporated, SleepMed Inc., Nox Health Group, Compumedics Limited, NovaSom Inc., Oventus Medical Limited, Responsive Surface Technology Inc., Braebon Medical Corporation, Apex Medical Inc.

Which are the Top Profitable Regional Markets for the Sleep Study Equipment Industry?
North America was the largest region in the sleep study equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sleep study equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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