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Sleep Disorder Market Size
Sleep Disorder Market size was worth over USD 22.5 billion in 2022 and is poised to depict significant growth at more than 12% CAGR from 2023 to 2032 owing to the rising prevalence of sleep disorders worldwide.
The upsurge in the number of patients experiencing sleep apnea and other co-morbidities is among the major factors affecting the demand for therapeutic and diagnostic equipment due to their dependability and ergonomic design that assist patients in performing an easy sleep test. The American Sleep Association estimates that between 50 and 70 million individuals in the U.S. suffer from sleep disorders. These illnesses commonly coexist with issues such as anxiety, depression, and posttraumatic stress disorder (PTSD). This high incidence rate is also associated with the rising adoption of a sedentary lifestyle, which is expected to drive market size.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 22.5 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 12% |
| 2032 Value Projection: | USD 73.5 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 629 |
| Segments covered: | Sleep Disorder, Product, End-use, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Stringent regulatory framework to limit industry landscape
The FDA has highly stringent regulatory compliances and lengthy approval procedures that are impeding the expansion of the sleep disorder market. The FDA classifies sleep diagnosis and therapy devices as Class II due to the possible risks they pose. These devices often require the highest level of scrutiny and a comprehensive set of preclinical and clinical assessments via pre-market authorization. The stringent regulatory framework related to sleep disorder treatment devices is estimated to slow down the growth of the industry.
Sleep Disorder Market Analysis
By disorder, the sleep disorder market from the sleep apnea segment is expected to expand at over 12% CAGR through 2032. The American Academy of Sleep Medicine (AASM) estimates that more than 25 million individuals in the U.S. have obstructive sleep apnea. The rapidly aging population has led to the increasing prevalence of sleep apnea illnesses. According to the United States Census Bureau, there are more than 56 million individuals aged 65 and above in the country, accounting for around 16.9% of the total population. Improving living standards and availability of superior healthcare services have enhanced life expectancy rates in many countries, which is estimated to contribute to business progression.
Based on end-use, the sleep disorder market from the home care settings & individuals segment is expected to grow significantly over 2023-2032. Home sleep tests have advanced notably and are now widely used to diagnose sleep problems. Growing public awareness of the benefits of accurate sleep disease diagnosis and treatment, along with the rapid acceptance and introduction of user-friendly sleep apnea devices for use in home care settings, is expected to fuel the segment progress. Recently, in February 2023, Sunrise, a sleep science specialist, announced that the U.S. Food and Drug Administration approved its AI-powered second gen at-home sleep apnea test to diagnose sleep-related respiratory disorders and OSA.
In terms of product, the sleep disorder market from the therapeutics segment reached over USD 8.5 billion in 2022. Oral appliance therapy for the treatment of a variety of sleep problems is gaining traction as people become more aware of the advantages these portable devices provide. Leading companies are working on introducing innovative treatment devices that offer less technical complexity and more ease, thereby influencing industry statistics.
North American sleep disorder market is forecast to develop at more than 11.5% CAGR through 2032, owing to several factors such as the presence of major market players, growth in the frequency of sleep disorders, and increased knowledge of early-stage illness diagnosis, among others. Furthermore, an increasing number of initiatives to raise awareness about sleep apnea and its consequences are anticipated to influence regional market trends.
Sleep Disorder Market Share
Leading companies operating in the sleep disorder industry are:
- Fisher & Paykel Healthcare
- Koninklijke Philips N.V.
- Invacare Corporation
- Teleflex Inc.
- ResMed Inc.
- and Natus Medical Inc.
Manufacturers focus heavily on the development of novel techniques, the introduction of cutting-edge products, and the execution of expansion plans to sustain their market position.
Sleep Disorder Market research report includes in-depth coverage of the industry with estimates & forecasts in terms of USD Million from 2018 to 2032, for the following segments:
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By Disorder
- Sleep Apnea
- Obstructive Sleep Apnea
- Central Sleep Apnea
- Complex Sleep Apnea
- Restless Legs Syndrome (RLS)
- Insomnia
- Narcolepsy
- Others
By Product
- Diagnostics
- Actigraphy Systems
- Polysomnography (PSG) Device
- Respiratory Polygraph
- Sleep Screening Devices
- Pulse Oximeter
- Wearables
- Smart Watches & Bands
- Others
- Therapeutics
- Cognitive behavioral therapy
- Therapeutic Devices
- Airway Clearance System
- Adaptive Servo-ventilation (ASV)
- Positive Airway Pressure (PAP) Devices
- Oral Appliances
- Oxygen Devices
- Others
By End-use
- Home Care Settings & Individuals
- Sleep Laboratories & Hospitals
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Poland
- Netherlands
- Sweden
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Thailand
- Philippines
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- MEA
- South Africa
- Saudi Arabia
- UAE
- Egypt
- Israel
- Nigeria
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