Press release
Sleep Market Size to Reach Revenues of USD 137.16 Billion by 2026 – Arizton
In-depth analysis and data-driven insights on the impact of COVID-19 included in this sleep market report.
The sleep market is expected to grow at a CAGR of over 6.11% during the period 2020−2026.
Key Highlights Offered in the Report:
1. Growth enablers such as lifestyle changes in the urban population, increasing awareness towards health benefits of sleep, increasing use of sleep trackers, is boosting the global sleep market.
2. The segmentation by product type was led by smart bedding segment, which is estimated to show the highest incremental growth of USD 13 billion during the forecast period. The sleep apnea devices are seeing an increasing demand because of increasing prevalence of sleep apnea. It is estimated to show the highest absolute growth of 62% during forecast period.
3. The segmentation by indication was led by Insomnia, as it reported the highest prevalence in sleep disorders. Insomnia reported a revenue of USD 13 billion under global sleep market in 2020. Like product type segmentation, sleep apnea is estimated to show the highest absolute growth of 51% under segmentation by indication, during the forecast period.
4. Based on the geographic regions, Europe and APAC regions are estimated to show the highest absolute growth of USD 13 billion and USD 12 billion, respectively. APAC is estimated to show an absolute growth of 57%.
5. The global sleep market has highly diversified product portfolio, as each sleep disorder have its distinct mechanism and symptoms. The growing awareness towards health benefits of sleep have contributed to the increasing demand of smart bedding products as it gathered a revenue of USD 32 billion in 2020. The segment is also witnessing an entry of many new vendors which are following aggressive pricing in the market to gain a significant market share.
6. The medication segment is estimated to grow at a steady pace. The growth of the segment is challenged by possible side effects of sleep medications which is driving the population towards use of natural sleep aids such as dietary supplements.
Key Offerings:
• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by product type, indication, and geography
• Competitive Landscape – 9 key vendors and 27 other vendors
Get your sample today! https://www.arizton.com/market-reports/sleep-market-size-analysis
Sleep Market – Segmentation
• The smart bedding segment provides multi-sensor equipment such as smart mattresses, ambient light, sound systems, etc. The features provided by the smart beds are expected to improve even further while maintaining a reasonable price, which will make it more affordable and accessible for the larger part of the population.
• Chronic insomnia is a severe sleeping disorder that can further progress into many chronic diseases. This can affect the mental health of a person, thereby accelerating the growth of the insomnia segment. According to the American Sleep Association, acute insomnia affects almost 30% of the adult population. The emergence of COVID-19 has also contributed to the increasing incidence of insomnia.
• China and the US have the highest prevalence of sleep apnea. With the increasing prevalence of apnea and chronic respiratory disorders, the demand for the devices is expected to increase during the forecast period. The apnea devices segment is growing at a CAGR of 8.34% by 2026. Almost 50% of Americans use prescription-based sleeping aids or OTC products, thereby booming the growth in the global sleep industry.
Sleep Market by Product Type
• Smart Bedding
• Sleep Lab Services
• Sleep Apnea Devices
• Medication
• Wearable Devices
• Others
Sleep Market by Indication
• Insomnia
• Sleep Apnea
• Narcolepsy
• Restless Leg Syndrome
• REM Sleep Behavior Disorder
• Others
Sleep Market – Dynamics
AI or artificial intelligence is penetrating almost every market as it is an extremely useful and assistive tool that can be customized easily based on the need. AI, along with machine learning and deep learning system, can help in the automation of processes while optimizing and increasing their efficiency and reducing errors. It can help in increasing the pace of diagnosis, thus increasing the pace of treatment. It can minimize or irradicate unnecessary tasks in healthcare such as documentation, administrative work, which surprisingly takes a significant time from the physician’s schedule. To diagnose sleep disorders, researchers use polysomnography, actigraphy, and electroencephalography to analyze brain activity during sleep. All these technologies create a huge amount of data which include patient sleep patterns and brain activity during sleep, which helps in diagnosing sleep disorders. AI can optimize these processes and help researchers and physicians to perform better.
Key Drivers and Trends fueling Market Growth:
• Technological Advances in Wearable Devices
• Digital Sleep Framework for Therapy Selection
• Awareness Toward Sleep as Health Behavior
• Using Sleep Trackers for Sleep Management
Sleep Market – Geography
North America acquired a market share of 33.26% in the global sleep market in 2020. The US and Canada are the major markets in the region. The US sleep market held a dominating market share of 90.20% in 2020. This is also expected to continue during the forecast period. The leading position in the global sleep market is attributable to factors such as high incidence and prevalence rate of chronic sleep disorders, urban and fast-paced lifestyle, a high percentage of obese population, and increasing geriatric population. The growing prevalence rate of sleeping disorders is also being attributed to the growing prevalence of underlying disorders such as Parkinson’s disease, type 2 diabetes, and COPD, among others. The US and Canada majorly rely on the usage of medications (hard solutions) rather than sleep aid devices (soft solutions). The medications market in North America was valued at $ 2.19 billion in 2020.
Get your sample today! https://www.arizton.com/market-reports/sleep-market-size-analysis
Sleep Market by Geography
• North America
• US
• Canada
• Europe
• Germany
• France
• UK
• Italy
• Spain
• APAC
• China
• Japan
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• Turkey
Major Vendors
• ResMed
• Koninklijke Philips N.V
• Natus Medical Incorporated
• Nihon Kohden Corporation
• Fisher & Paykel Healthcare
• Compumedics Limited
• Itamer Medical Ltd
• Merck & CO.
• Sleep Number Corporation
Other Prominent Vendors
• BMC Medical Co.
• Curative Medial
• Apex Medical Corporation
• Cadwell Industries Inc
• SOMNOMedics GMBH
• Advanced Brain Monitoring Inc.
• Braebon Medical Corporation
• Cleveland Medical Devices Inc.
• Eight Sleep
• SIMBA
• Sleepace
• Solace Lifesciences
• Somnox
• Sleep Cycle
• Withings
• Polar Electro
• Pzizz Ltd
• Fitbit Inc.
• Garmin Ltd
• ReST
• Sunovion Pharmaceuticals Inc.
• Eisai Inc.
• Sanofi
• Mallinckrodt Pharmaceuticals
• Teva Pharmaceuticals Industries
• Pfizer Inc.
Looking for more information? Click Here https://www.arizton.com/market-reports/sleep-market-size-analysis
About Arizton Advisory & Intelligence
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
Arizton has gained a paramount standpoint in the market research arena as it offers top of the line solutions to clients to assess market landscape and to finalize fool proof business strategies. We are committed to provide inclusive market research reports and consulting services to clients from diversified industries including –Consumer Goods & Retail Technology, Automotive and Mobility, Smart Tech, Healthcare and Lifesciences, Industrial Machinery, Chemicals and Materials, IT and Media, Logistics and Packaging
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Arizton Advisory & Intelligence
Chicago, Illinois, 60605
Mail: enquiry@arizton.com
Call: +1-312-235-2040/+1 302 469 0707
The sleep market is expected to grow at a CAGR of over 6.11% during the period 2020−2026.
Key Highlights Offered in the Report:
1. Growth enablers such as lifestyle changes in the urban population, increasing awareness towards health benefits of sleep, increasing use of sleep trackers, is boosting the global sleep market.
2. The segmentation by product type was led by smart bedding segment, which is estimated to show the highest incremental growth of USD 13 billion during the forecast period. The sleep apnea devices are seeing an increasing demand because of increasing prevalence of sleep apnea. It is estimated to show the highest absolute growth of 62% during forecast period.
3. The segmentation by indication was led by Insomnia, as it reported the highest prevalence in sleep disorders. Insomnia reported a revenue of USD 13 billion under global sleep market in 2020. Like product type segmentation, sleep apnea is estimated to show the highest absolute growth of 51% under segmentation by indication, during the forecast period.
4. Based on the geographic regions, Europe and APAC regions are estimated to show the highest absolute growth of USD 13 billion and USD 12 billion, respectively. APAC is estimated to show an absolute growth of 57%.
5. The global sleep market has highly diversified product portfolio, as each sleep disorder have its distinct mechanism and symptoms. The growing awareness towards health benefits of sleep have contributed to the increasing demand of smart bedding products as it gathered a revenue of USD 32 billion in 2020. The segment is also witnessing an entry of many new vendors which are following aggressive pricing in the market to gain a significant market share.
6. The medication segment is estimated to grow at a steady pace. The growth of the segment is challenged by possible side effects of sleep medications which is driving the population towards use of natural sleep aids such as dietary supplements.
Key Offerings:
• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by product type, indication, and geography
• Competitive Landscape – 9 key vendors and 27 other vendors
Get your sample today! https://www.arizton.com/market-reports/sleep-market-size-analysis
Sleep Market – Segmentation
• The smart bedding segment provides multi-sensor equipment such as smart mattresses, ambient light, sound systems, etc. The features provided by the smart beds are expected to improve even further while maintaining a reasonable price, which will make it more affordable and accessible for the larger part of the population.
• Chronic insomnia is a severe sleeping disorder that can further progress into many chronic diseases. This can affect the mental health of a person, thereby accelerating the growth of the insomnia segment. According to the American Sleep Association, acute insomnia affects almost 30% of the adult population. The emergence of COVID-19 has also contributed to the increasing incidence of insomnia.
• China and the US have the highest prevalence of sleep apnea. With the increasing prevalence of apnea and chronic respiratory disorders, the demand for the devices is expected to increase during the forecast period. The apnea devices segment is growing at a CAGR of 8.34% by 2026. Almost 50% of Americans use prescription-based sleeping aids or OTC products, thereby booming the growth in the global sleep industry.
Sleep Market by Product Type
• Smart Bedding
• Sleep Lab Services
• Sleep Apnea Devices
• Medication
• Wearable Devices
• Others
Sleep Market by Indication
• Insomnia
• Sleep Apnea
• Narcolepsy
• Restless Leg Syndrome
• REM Sleep Behavior Disorder
• Others
Sleep Market – Dynamics
AI or artificial intelligence is penetrating almost every market as it is an extremely useful and assistive tool that can be customized easily based on the need. AI, along with machine learning and deep learning system, can help in the automation of processes while optimizing and increasing their efficiency and reducing errors. It can help in increasing the pace of diagnosis, thus increasing the pace of treatment. It can minimize or irradicate unnecessary tasks in healthcare such as documentation, administrative work, which surprisingly takes a significant time from the physician’s schedule. To diagnose sleep disorders, researchers use polysomnography, actigraphy, and electroencephalography to analyze brain activity during sleep. All these technologies create a huge amount of data which include patient sleep patterns and brain activity during sleep, which helps in diagnosing sleep disorders. AI can optimize these processes and help researchers and physicians to perform better.
Key Drivers and Trends fueling Market Growth:
• Technological Advances in Wearable Devices
• Digital Sleep Framework for Therapy Selection
• Awareness Toward Sleep as Health Behavior
• Using Sleep Trackers for Sleep Management
Sleep Market – Geography
North America acquired a market share of 33.26% in the global sleep market in 2020. The US and Canada are the major markets in the region. The US sleep market held a dominating market share of 90.20% in 2020. This is also expected to continue during the forecast period. The leading position in the global sleep market is attributable to factors such as high incidence and prevalence rate of chronic sleep disorders, urban and fast-paced lifestyle, a high percentage of obese population, and increasing geriatric population. The growing prevalence rate of sleeping disorders is also being attributed to the growing prevalence of underlying disorders such as Parkinson’s disease, type 2 diabetes, and COPD, among others. The US and Canada majorly rely on the usage of medications (hard solutions) rather than sleep aid devices (soft solutions). The medications market in North America was valued at $ 2.19 billion in 2020.
Get your sample today! https://www.arizton.com/market-reports/sleep-market-size-analysis
Sleep Market by Geography
• North America
• US
• Canada
• Europe
• Germany
• France
• UK
• Italy
• Spain
• APAC
• China
• Japan
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• Turkey
Major Vendors
• ResMed
• Koninklijke Philips N.V
• Natus Medical Incorporated
• Nihon Kohden Corporation
• Fisher & Paykel Healthcare
• Compumedics Limited
• Itamer Medical Ltd
• Merck & CO.
• Sleep Number Corporation
Other Prominent Vendors
• BMC Medical Co.
• Curative Medial
• Apex Medical Corporation
• Cadwell Industries Inc
• SOMNOMedics GMBH
• Advanced Brain Monitoring Inc.
• Braebon Medical Corporation
• Cleveland Medical Devices Inc.
• Eight Sleep
• SIMBA
• Sleepace
• Solace Lifesciences
• Somnox
• Sleep Cycle
• Withings
• Polar Electro
• Pzizz Ltd
• Fitbit Inc.
• Garmin Ltd
• ReST
• Sunovion Pharmaceuticals Inc.
• Eisai Inc.
• Sanofi
• Mallinckrodt Pharmaceuticals
• Teva Pharmaceuticals Industries
• Pfizer Inc.
Looking for more information? Click Here https://www.arizton.com/market-reports/sleep-market-size-analysis
About Arizton Advisory & Intelligence
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
Arizton has gained a paramount standpoint in the market research arena as it offers top of the line solutions to clients to assess market landscape and to finalize fool proof business strategies. We are committed to provide inclusive market research reports and consulting services to clients from diversified industries including –Consumer Goods & Retail Technology, Automotive and Mobility, Smart Tech, Healthcare and Lifesciences, Industrial Machinery, Chemicals and Materials, IT and Media, Logistics and Packaging
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Arizton Advisory & Intelligence
Chicago, Illinois, 60605
Mail: enquiry@arizton.com
Call: +1-312-235-2040/+1 302 469 0707
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