Americas to Remain at the Helm at Sleep Testing Services Market Analysis
Having quality sleep at night has wonderful benefits to a person’s mental and physical health and also the quality of life. In fact, how an individual feels during the day often is related directly to the quality and amount of sleep they get every night. Unfortunately, most people do not get sound sleep. A sleep disorder is a medical condition which can affect the habits and sleep patterns of a person.
There are some sleep disorders that can create complications if left untreated. Here the best step will be to make the most of sleep testing services. These tests can help in diagnosing various sleep disorders such as sleep apnea, unexplained chronic insomnia, narcolepsy and periodic limb movement disorder by checking breathing patterns, recording heart rate, leg movements, eye movements, brain waves and more. Along with detecting sleep disorders, sleep testing services market are also used by doctors to study a patient’s nighttime behavior. Such behaviors are involuntary and can include sleep walking, REM sleep behavior and sleep talking. The Sleep Testing Services Market is projected to reach USD 9,753.78 Million by 2030 at 5.20% CAGR during the forecast period 2022-2030.
There are plentiful factors that are boosting the growth of the sleep testing services market . These factors as per the Market Research Future (MRFR) report include increasing incidence of sleep disorders, technological advancements associated to sleep testing services, increasing awareness regarding sleep testing services and private insurance providers covering up the expenditure and cost of sleep testing services. On the contrary, the soaring price related to sleep testing services may hinder the growth of the sleep testing services market during the forecast period.
Market Segmentation
MRFR report provides an extensive segmental analysis of the sleep testing services market on the basis of treatment monitoring services, diagnostic services and end user.
Based on diagnostic services, it is segmented into in-lab sleep testing and home sleep testing. In-lab sleep testing is again segmented into maintenance of wakefulness test (MWT), multiple sleep latency test (MSLT), CPAP/BiPAP Titration, full polysomnography and electroencephalogram. Of these, in-lab sleep testing will have the largest share in the market during the forecast period.
Based on treatment monitoring services, it is segmented into rapid eye movement (REM) sleep order, narcolepsy, circadian rhythm disorders, restless legs syndrome, insomnia and obstructive sleep apnea. Of these, obstructive sleep apnea will dominate the market during the forecast period.
Based on end-user, it is segmented into home care settings, sleep centers, hospitals and others. Of these, the hospitals segment will lead the market during the forecast period followed by sleep centers that is expected to grow at the fastest pace.
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Regional Analysis
By region, the sleep testing services market covers growth opportunities and latest trends across Americas, Europe, Asia Pacific and Middle East and Africa. Of these, the Americas will remain at the helm during the forecast period owing to growing incidence of sleep disorders here coupled with growing popularity of sleep testing services by the American people. The sleep testing services market in Europe is predicted to have the second major share owing to growing awareness about sleep testing services. In the APAC region, the sleep testing services market is predicted to grow at the fastest pace during the forecast period on account of the increasing occurrence of sleep disorders. On the other hand, the sleep testing services market in the Middle East and Africa will have minimal share and is predicted to grow through a developing healthcare infrastructure.
Key Players
Leading players profiled in the sleep testing services market include HomeSleep, LLC, SleepWorks, LLC, SOVA Sleep Services, SleepMed, Carolinas Sleep Services, GenesisCare, Total Sleep Holdings, Inc., Sleep Services Australia, Midwest Sleep Diagnostics, Inc., Medical Service Company, St. Luke's, and others.
March 2019- Lofta, leading sleep apnea diagnostic as well as treatment company has joined hands with Itamar Medical Ltd for sleep testing devices with an aim to offer a reliable, accurate and simple solution to people facing sleep apnea and sleep-disordered breathing.
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