Global Sleep Tech Devices Market Size to be worth $27 Bn by 2025

December 19, 2019


According to a new research report titled ‘Sleep Tech Devices Market Size By Type (Wearables {Smart Watches and Bands, Others}, Non-wearables (Sleep Monitors, Beds}, By Gender (Male {<18, 18-36, 37-55, >55}, Female {<18, 18-36, 37-55, >55}), By Application (Insomnia, Obstructive Sleep Apnea, Narcolepsy), By Distribution Channel (Specialty Clinics, Direct-to-Consumer, Hospitals), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, China, Japan, India, Australia, Brazil, Mexico, Argentina, Saudi Arabia, South Africa, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’ available at MarketStudyReport.com, the global sleep tech devices market size is presumed to accrue US $27 billion by the year 2025.
 

Busier lifestyles, longer and unpredictable working hours, lack of proper exercise and consumption of junk food have disrupted the sleeping patterns of individuals. Rising prevalence of various sleeping disorders such as insomnia, obstructive sleep apnea, and narcolepsy will be the major factor driving sleep tech devices market forecast in the coming years.
 

The demand for sleep tech gadgets is particularly high in developed regions. Manufacturers are constantly introducing innovative and technologically advanced products. Citing an instance, Rhythm launched a head belt called DREEM that monitors users’ sleeping patterns and helps induce better sleep by playing relaxing and soothing sounds.  
 

Sleep tech devices can be broadly classified into wearables and non-wearables. Wearables segment captured over 76% of the global share in 2018. The wearables segment includes wrist bands, ear plugs, rings, head belts and others. These devices are cost-effective, user-friendly, and can accurately track and analyze users’ sleeping patterns which will boost their demand in the near future.
 

Based on gender, sleep tech devices market share from male segment is projected to record a robust 15% CAGR over the analysis timeline. This growth can be largely attributed to rising prevalence of sleep apnea in males. Several clinical studies reveal greater occurrence of sleep apnea in men as compared to women. 
 

Insomnia, obstructive sleep apnea, and environmental sleep disorders are some of the applications of sleep tech devices. Environmental sleep disorders segment amassed over US $1 billion during 2018. Environmental noise from vehicles, industrial activities along with nocturnal surrounding disturbances especially in metropolitan cities have seriously impacted the sleep cycles of individuals worldwide.
 

On the basis of distribution channel, specialty clinics is one of the most effective modes for distribution of sleep tech gadgets and the segment will grow with a CAGR of 16.5% over 2019-2025. Patients diagnosed with psychological disorders usually suffer from sleep disorders and prefer specialty clinics for receiving treatments.
 

Request sample copy of this Report@ https://www.marketstudyreport.com/request-a-sample/2361888/
 

Europe held more than 26% revenue share in global sleep tech devices industry in 2018. Higher prevalence of different chronic ailments and the consequent occurrence of sleep diseases among the geriatric population has been one of the most prominent trends driving the regional growth. A favorable regulatory landscape will offer ample opportunities to regional sleep tech developers.
 

Samsung, Fitbit, Xiaomi, Oura Health, and Eight Sleep are some of the prominent players operating in sleep tech devices industry. These brands are constantly making R&D efforts and investments to integrate advanced technologies into sleep tech gadgets and introduce innovative new products.


Frequently Asked Questions (FAQ) :

Busier lifestyles, longer and unpredictable working hours, lack of proper exercise and consumption of junk food have disrupted the sleeping patterns of individuals. Rising prevalence of various sleeping disorders such as insomnia, obstructive sleep apnea, narcolepsy, among others, will be the major factor driving sleep tech devices market forecast in the coming years.
The demand for sleep tech gadgets is particularly high in developed regions. Manufacturers are constantly introducing innovative and technologically advanced products. For instance, Rhythm launched a head belt called DREEM that monitors users’ sleeping patterns and helps induce better sleep by playing relaxing and soothing sounds.
Europe held more than 26% revenue share in global sleep tech devices industry in 2018. Higher prevalence of different chronic ailments and the consequent occurrence of sleep diseases among the geriatric population has been one of the most prominent trends driving the regional growth. A favorable regulatory landscape will offer ample opportunities to regional sleep tech developers.
Samsung, Fitbit, Xiaomi, Oura Health, and Eight Sleep are some of the prominent players operating in sleep tech devices industry. These brands are constantly making R&D efforts and investments to integrate advanced technologies into sleep tech gadgets and introduce innovative new products.
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