The Global Sleep Tech Devices Market to Grow at a Significant CAGR of 15.67% by 2027
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The sleep tech devices market is expected to boost positively due to factors such as an ageing population, an increase in the prevalence of sleep disorders such as insomnia and narcolepsy, and an increase in the development of technologically advanced sleep tech devices. As a result, the sleep tech devices market is expected to rise at a considerable CAGR from 2022 to 2027.
LAS VEGAS, Aug. 22, 2022 /PRNewswire/ — DelveInsight’s Sleep Tech Devices Market Insights report provides the current and forecast market, forthcoming device innovation, individual leading companies’ market shares, challenges, sleep tech devices market drivers, barriers, and trends, and key sleep tech devices companies in the market.
Key Takeaways from the Sleep Tech Devices Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global sleep tech devices market during the forecast period.
- Key sleep tech devices companies such as Koninklijke Philips N.V, Huawei Device Co Ltd, ResMed, Xiaomi, Apple Inc, ASUSTeK Computer Inc, SAMSUNG, Masimo, Garmin Ltd, Compumedics Limited, NIHON KOHDEN CORPORATION, Cadwell Industries Inc, Eight Sleep, Emfit Ltd, Ōura Health, Sleep Shepherd LLC, Sleepace, Apollo Neuroscience Inc, Braebon Medical Corporation, Noiseand several others are currently dominating the sleep tech devices market.
- In June 2022Garmin, a Swiss-domiciled multinational technology company, launched its Vivosmart 5 fitness band in Indiawith health features such as it comes with advanced sleep monitoring (with sleep stages).
- In June 2022pTron, an Indian electronics manufacturer, announced the launch of a new smartwatch in India: the Force X10E, which includes features such as sleep monitoring.
- In June 2022Amazefit, a smart wearable brand, launched GTS 2 smartwatch with some special features such as sleep monitoring in India.
- In October 2020Samsung, the largest producer of electronic devices launched Galaxy Fit 2 fitness tracker in Indiawhich includes the monitoring of sleep.
To read more about the latest highlights related to the sleep tech devices market, get a snapshot of the key highlights entailed in the Global Sleep Tech Devices Market Report
Sleep Tech Devices
Sleep tech devices are smart devices that are used to monitor, track, and enhance the sleep of persons who have sleep disorders such as sleep apnea, narcolepsy, and insomnia. These devices help users understand their sleep habits, allowing them to sleep better and perform better during the day. Sensors in sleep technology devices monitor a person’s movement, sleep pattern, heart rate, and blood oxygen level to assess sleep stages.
Sleep Tech Devices Market Insights
North America is predicted to lead the global sleep tech devices market in 2021, and it is expected to do so again during the forecast period of 2022-2027. Factors such as the rising frequency of sleep disorders such as narcolepsy, as well as an increase in the launch of technologically advanced sleep tech devices in the United Statesare projected to drive demand for sleep tech devices in the North American sleep tech devices market. Furthermore, the region’s spike in the launch of technologically enhanced sleep tech devices will drive the sleep tech devices market.
As a result, the interaction of the factors described above for sleep tech devices would produce a favourable growth environment for the North American region in the sleep tech devices market.
To know more about why North America is leading the market growth in the sleep tech devices market, get a snapshot of the report Sleep Tech Devices Market Outlook
Sleep Tech Devices Market Dynamics
The growing geriatric population is one of the primary drivers of the sleep tech devices market. Another important reason driving the growth of the sleep tech devices market is the rising prevalence of insomnia globally. Furthermore, organisations such as the National Sleep Foundation, World Sleep Society, Brazilian Sleep Society, Italian Association of Sleep Medicineand others educate people all over the world about sleep and related diseases.
However, the privacy hazards offered by sleep-tracking devices and home sleep tech devices are likely to produce false-positive results and are not 100% accurate, hampering the global sleep tech devices market expansion.
Additionally, the ongoing COVID-19 pandemic has substantially impacted the sleep tech devices market. The manufacturing of sleep tech gadgets was hampered by a statewide lockdown in practically every country, mobility restrictions for non-essential commodities, and a lack of labour at the production facilities. However, sleep issues appear to have been widespread during the ongoing COVID-19 pandemic, which has been linked to a high degree of psychological distress, which can enhance the likelihood of sleep disorders. As a result, the COVID pandemic might have greatly impacted the sleep tech devices market. Sleep tech devices are predicted to develop further throughout the forecast period, as are mass vaccinations, relaxation of lockdown limitations, and the restart of supply networks, logistics, and industrial units.
Get a sneak peek of the Sleep Tech Devices market @ Sleep Tech Devices Market Trends
Scope of the Sleep Tech Devices Market Report
- Coverage: Global
- Study Period: 2019–2027
- Market Segmentation By Type: Wearables and Non Wearables
- Market Segmentation By Application: Obstructive Sleep Apnea, Central Sleep Apnea, Insomnia, Narcolepsy, and Others
- Market Segmentation By End User: Hospitals, Home-Care Settings, and Others
- Market Segmentation By Geography: North America, Europe, Asia-Pacificand Rest of World
- Key Sleep Tech Devices Companies: Koninklijke Philips N.V, Huawei Device Co Ltd, ResMed, Xiaomi, Apple Inc, ASUSTeK Computer Inc, SAMSUNG, Masimo, Garmin Ltd, Compumedics Limited, NIHON KOHDEN CORPORATION, Cadwell Industries Inc, Eight Sleep, Emfit Ltd, Ōura Health, Sleep Shepherd LLC, Sleepace, Apollo Neuroscience Inc, Braebon Medical Corporation, Noise, among others
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
DelveInsight Analysis: The Sleep Tech Devices market size is expected to grow at a CAGR of 15.67% during the forecast period (2022–2027).
Which key players in the sleep tech devices market are set to emerge as the trendsetter explore @ Sleep Tech Devices Companies
Table of Contents
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1 |
Report Introduction |
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2 |
Executive summary |
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3 |
Regulatory and Patent Analysis |
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4 |
Key Factors Analysis |
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5 |
Porter’s Five Forces Analysis |
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6 |
COVID-19 Impact Analysis on Sleep Tech Devices Market |
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7 |
Sleep Tech Devices Market Layout |
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8 |
Global Company Share Analysis – Key 3-5 Companies |
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9 |
Company and Product Profiles |
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10 |
Project Approach |
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11. |
About DelveInsight |
Interested in knowing how the sleep tech devices market will grow by 2027? Click to get a snapshot of the Sleep Tech Devices Market Analysis
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About DelveInsight
DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance.
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SOURCE DelveInsight Business Research, LLP
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