sleep devices tech market industry growth demand

techsuch May 9, 2021 0 Comments

Sleep Tech Devices Market value to cross $27 billion by 2025: Global MarketInsights, Inc.Selbyville, Delaware, Nov. 05, 2019 (GLOBE NEWSWIRE) — Global Sleep Tech Devices Market is projected to surpass USD 27 billion by2025, according to a new research report by Global Market Insights, Inc. Thegrowing environmental and health concerns across the globe are leading towardthe adoption of environment-friendly transport solutions.Technological advancements in sleep tech devices will prove beneficial forindustry growth. Innovations introduced within these sleep devices haveenhanced the comfort levels in individuals suffering from chronic disorders.Currently available sleep devices effectively monitor and provide overallanalysis that enables people to optimize their sleep patterns. For instance,Rhythm has developed a product, DREEM, that is in the form of head belt. Itmonitors and enhances users’ sleep by playing sound and providing ultimaterelaxation to the user. Hence, growing availability of advanced sleep techwearables and devices for treating sleep diseases will escalate the industrygrowth.Request for a sample of this research report @ lifestyle, consumption of junk food and lack of exercise havedisturbed the normal metabolism of an individual’s body ultimately increasingthe prevalence of sleeping disorders such as obstructive sleep apnea,narcolepsy, insomnia, etc. Thus, there has been an increase in the demand forsleep tech devices that enhances the sleep activity in individuals sufferingfrom sleep-related disorders. However, stringent regulatory scenario mayimpede sleep-tech devices market growth to certain extent.Some major findings of the sleep tech devices market report include: * Increasing prevalence of sleeping disorders will positively impact the sleep tech devices market growth over the analysis timeframe * Individuals suffering from insomnia and sleep apnea have high inclination towards wearable sleep tracking devices * Changing lifestyle and intake of unhealthy dietary supplements has escalated the anxiety and depression rate amongst youths that elevates the demand for sleep aid and diagnostics devices * Availability of innovative and technological advanced sleep tech devices will surge its demand especially in developed countries * Major players operating in the sleep tech devices industry are Samsung, Xiaomi, Eight Sleep, Oura Health, Fitbit, etc. These companies constantly focus on integrating advanced technology in the sleep tech devicesType segment includes wearables and non-wearables. Wearables segment held morethan 76% revenue share in 2018 and it is projected to show similar growthtrends in coming years. Wearables segment include devices such as rings, wristbands, head belts, ear plugs, etc. These devices are user-friendly and provideaccurate data pertaining to sleeping patterns. Healthcare professionals canuse this data for analyzing and recommending treatment to patients thatelevates the business growth. Moreover, these devices are less expensive ascompared to non-wearables that will further upsurge its demand over theforecast period.Browse key industry insights spread across 125 pages with 240 market datatables & 9 figures & charts from the report, “Sleep Tech Devices Market SizeBy Type (Wearables, {Smart Watches & Bands, Others}, Non-wearables {SleepMonitors, 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,Hospital), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany,UK, France, Italy, Spain, Russia, Japan, China, India, Australia, South Korea,Mexico, Brazil, Saudi Arabia, South Africa, UAE), Price Trends, ApplicationPotential, Competitive Market Share & Forecast, 2019 – 2025” in detail alongwith the table of contents: of sleep tech devices are insomnia, obstructive sleep apnea,environmental sleep disorder and others. Environmental sleep disorders segmentwas valued around USD 1 billion in 2018 and is expected to foresee enormousgrowth during the analysis timeframe. Environmental noise caused by vehiclesand other industrial activities create hinderance in sleep. Moreover,nocturnal environmental noises in metropolitan cities affects the sleep cyclesin elderly population that surges the demand for sleep-tech devices.Therefore, increasing prevalence of environmental sleep disorders will fosterthe segmental growth.Sleep tech devices are distributed through specialty clinics, direct toconsumer, hospitals and others. Specialty clinics segment will grow over 16.5%CAGR throughout the forecast years. People suffering from psychologicaldisorders usually suffer from sleep diseases and prefer receiving treatmentsfrom specialty clinics. Healthcare professionals working in specialty clinicssuggest sleep trackers and sleep enhancing devices to promote mental health insuch individuals. Additionally, specialty clinics are the most effective modefor distribution of sleep tech devices as patients have to abide by theprescribed therapy that will propel the segmental growth.Europe sleep tech devices market held over 26% revenue share in 2018 andsubstantial regional growth can be associated with the favorable demographictrends. Majority of the elderly population suffers from chronic ailments thatdisturbs their sleeping patterns. This scenario proves beneficial for industrygrowth as it raises the demand for superior quality sleep tech devices.Moreover, positive regulatory scenario also stimulates the regional growth.Regulatory authorities often frame regulations that needs to be complied bycompanies manufacturing sleep tech devices. Compliance to regulatory policieshelps in reducing defects in the sleep tech devices that will stimulate theEurope sleep tech devices market growth.Sleep tech industry is dominated by few major players that provide advancedwearables as well as non-wearable sleep devices. The players implement certainstrategic initiatives such as merger, acquisitions and product launches foracquiring competitive advantage. For instance, recently in 2017, Eight Sleeplaunched smart mattress that enhances sleep in individuals by adjustingtemperature. Therefore, introduction of new products will enhance thecompany’s growth.Make an inquiry for purchasing this report @ Related Reports:Sleep Apnea Devices Market Projections 2025: Polysomnography (PSG) devicesegment is expected to hold major revenue of USD 770.1 million in 2018. Thisdevice is used for the diagnosis of sleep disorders. The rising demand ofefficient, superior and portable sleep apnea devices will drive the segmentalgrowth. Prominent industries players involved in the market are BectonDickinson, BMC Medical Co. Ltd., Cadwell Laboratories Inc., Braebon MedicalCorporation, Compumedics Limited, GE Healthcare, Fisher & Paykel Healthcare,ImThera Medical Inc., Itamar Medical Ltd., Invacare Corporation, CurativeMedical Inc., Natus Medical Inc., Philips Healthcare and others. Global Market InsightsGlobal Market Insights, Inc., headquartered in Delaware, U.S., is a globalmarket research and consulting service provider; offering syndicated andcustom research reports along with growth consulting services. Our businessintelligence and industry research reports offer clients with penetrativeinsights and actionable market data specially designed and presented to aidstrategic decision making. These exhaustive reports are designed via aproprietary research methodology and are available for key industries such aschemicals, advanced materials, technology, renewable energy and biotechnology.

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