Sleep Tech Devices Market
Global Sleep Tech Devices Market Crossed the Mark of US$ 18 Bn in 2022; Growing at a CGAR of 18.2% During 2023 – 2031
HOUSTON, TEXAS, UNITED STATES, July 28, 2023/EINPresswire.com/ — The number of individuals suffering from sleep deprivation has risen year after year. Sleep disorders affect up to 45% of the world’s population. 35% of individuals believe they do not get enough sleep, which has an impact on both their physical and emotional health and approximately 4% of adults suffer from obstructive sleep apnea (OSA).
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The sleep tech devices have sensor technology that can monitor a person’s sleep and are designed to enhance sleep patterns, quality, and general health. Sleep tech devices employ a variety of characteristics to improve sleep management, including heart rate, breathing rhythm, movement, sleep phases, snoring, and the sleeping environment, as well as noise level and light. These devices’ data and information provide insights that may be utilized to better understand sleep and identify solutions to combat sleep loss. Obstructive sleep apnea, central sleep apnea, insomnia, narcolepsy, and other sleep disorders can be treated with sleep tech devices. Thus, overall trend towards health and wellness is driving the global sleep tech devices market.
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Global Sleep Tech Devices Future
Sleep monitoring technology is continuously improving, giving customers additional alternatives through watches, jewelry, fabrics, caps, routers, radio, audio, video, and much more. While fundamental accuracy, such as identifying real sleep duration, remains a huge difficulty across all modalities, it’s wonderful to watch the alternatives accessible to consumers expand, eventually enabling more means to reach and treat those suffering from bad sleeping patterns or sleep disorders. Artificial intelligence (AI) has been making significant strides in sleep technology through personalized sleep tracking and analysis. AI-powered sound machines and sleep applications, for example, use machine learning algorithms to create customized soundscapes that adapt to an individual’s unique sleep habits. As investment in this sector grows, more novel solutions are expected to emerge in the worldwide sleep tech devices market in the future years.
Which Product Type had the Highest Share in the Global Sleep Tech Devices Market in the Upcoming Years?
Wearables are now leading the field in consumer sleep tracking technology, with features now included into popular products such as the Apple Watch, Fitbit, Amazon Halo, and others. Aside from wristwatch wearables, significant new developments in sleep monitoring technologies are being achieved in jewellery, fabrics, and even brain-tracking caps and headphones. Sensors that gather waveforms such as electrocardiograms, pulse oximetry, and body movement are included in these wearables. The Covid-19 epidemic has aggravated worldwide sleep disorders, raising stress and anxiety levels. According to studies, there is an increase in insomnia rates throughout the world, which some call “coronasomnia.” Apart from startups and huge tech traditional players, new products in the sleep tech devices market are being introduced as sleep receives increasing attention from consumers and manufacturers alike. Thus, with the advancements in the wearables devices is contributing to the growth of the global sleep tech devices market.
Based on region segment, which region is anticipated to be the fastest growing region in the Sleep Tech Devices market during the forecast period?
Asia Pacific region is estimated to be the fastest growing region with the value of USD XX Million during the forecast period 2023-2031. Asian countries continue to urbanize and experience a shift in lifestyles, there has been a growing awareness of the importance of sleep health. People living in bustling cities with hectic schedules are increasingly seeking solutions to improve their sleep quality and overall well-being. The rise of the middle-class population in many Asian countries has led to increased disposable income, allowing more individuals to invest in health and wellness products, including sleep tech devices. Several Asian companies are emerging as key players in the sleep tech devices market, offering innovative and culturally relevant solutions tailored to the specific needs of Asian consumers. For instance, the ongoing expansion of Japan’s digital health business has been fueled by a number of reasons, including the country’s huge and ageing population, strong IT infrastructure, and a quick move to digital, which has been hastened by COVID-19. In January 2023, two Japanese firms, health IT firm Four H and Aculys Pharma, a biopharmaceutical company focusing on treating mental health diseases partnered to better understand and aid patients with sleeping issues, Furthermore, in 2022, BUZUD, a Singapore-based medical device firm, launched a range of smartwatches with sleep apnea diagnosis and other health monitoring capabilities.
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Global Sleep Tech Devices Market Key Developments
• In September 2022, Hiber-AITM, a non-wearable sleep tracker that gathers, analyses, and acts on sleep data in real time, was introduced by Sleepme Inc. Both are included in the new sleepme+ subscription. Hiber-AI will regulate the bed temperature depending on a person’s current real-time sleep data when the sleep tracker is coupled with the award-winning Dock ProTM Sleep System.
• In August 2022, Apple Inc. has released the Beddit sleep tracker, which aids in the measurement, management, and improvement of sleep. Data from the sleep analysis and heart rate are saved in the user’s iPhone’s health app, which delivers sleep report notifications and bedtime reminders.
Some of the players operating in the global sleep tech devices market are
o Apollo Neuroscience Inc
o Apple Inc
o Compumedics Limited
o Eight Sleep
o Emfit Ltd
o Garmin Ltd
o Huawei Device Co Ltd
o Koninklijke Philips N.V
o Masimo
o Ōura Health
o ResMed
o SAMSUNG
o Sleep Shepherd LLC
o Sleepace
o Xiaomi
o Other Industry Participants
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Global Sleep Tech Devices Market
By Product Type
o Wearable
Smart watches
Fitness Bands
Rings
Armbands
Others
o Non-wearable
Sleep Monitors
Smart Beds
Others
By Applications
o Insomnia
o Obstructive Sleep apnea
o Narcolepsy
o Others
By Distribution Channel
o Online
o Offline
By End Users
o Hospitals and Clinics
o Home care settings
o Research and Clinical settings
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By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)
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