Global Sleep Testing Services Market Growth Overview For 2024-2033
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LONDON, GREATER LONDON, UK, July 3, 2024 /EINPresswire.com/ — The global sleep testing services market is projected to grow significantly, from $7.06 billion in 2023 to $7.67 billion in 2024, at a compound annual growth rate (CAGR) of 8.7%. The market’s robust growth in recent years can be attributed to increased awareness of sleep disorders, rising incidence of sleep apnea, the obesity epidemic, and expanded insurance coverage.
Rising Incidence of Sleep Disorders Drives Market Growth
The increasing prevalence of sleep disorders, including obstructive sleep apnea and insomnia, is a key driver for the sleep testing services market. Factors such as the growing emphasis on mental health, development of home sleep testing devices, and employer wellness programs are expected to propel market growth to $10.85 billion by 2028, with a CAGR of 9.1%.
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Key Players and Market Trends
Major companies such as ResMed Inc., Invacare Corporation, and Natus Medical Incorporated are focusing on technological advancements in sleep testing services. For instance, Infineon Technologies AG launched the XENSIV Sleep Quality Service, a contactless and privacy-centric sleep quality solution integrated into various consumer electronics.
Segments
• Diagnostic Type: Home Sleep Testing, In-Lab Sleep Testing
• Application: Obstructive Sleep Apnea, Insomnia, Rapid Eye Movement (REM) Sleep Disorder, Restless Legs Syndrome, Narcolepsy, Circadian Rhythm Sleeping Disorders
• End-User: Sleep Centers, Hospitals, Home Care Settings
Geographical Insights: North America Leads, Europe to Witness Fastest Growth
North America dominated the sleep testing services market in 2023, driven by advanced healthcare infrastructure and high awareness. Europe is expected to be the fastest-growing region, fueled by increasing healthcare expenditure and rising prevalence of sleep disorders.
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Sleep Testing Services Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Sleep Testing Services Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on sleep testing services market size, sleep testing services market drivers and trends, sleep testing services market major players, competitors’ revenues, market positioning, and market growth across geographies. The sleep testing services market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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