Global Sleep Testing Services Market By Diagnostic Test Type (Home sleep testing and in- lab sleep testing (Electroencephalogram, Full Polysomnography, CPAP/BiPAP Titration, Multiple Sleep Latency Test (MSLT),Maintenance of Wakefulness Test)), By Application (Obstructive Sleep Apnea, Insomnia, Restless Legs Syndrome, Circadian Rhythm Sleeping Disorders, Narcolepsy, and Rapid Eye Movement (REM) Sleep Disorder), By End user (Hospitals, sleep centers, Homecare settings), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 7.91 Billion in 2023 and is expected to exhibit a CAGR of 12.1% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Global sleep testing services provide comprehensive solutions for diagnosing and managing sleep disorders worldwide. They conduct sleep studies, monitor physiological activities during sleep, and employ advanced technology and equipment for accurate results. Sleep specialists work closely with patients to develop personalized treatment plans. These services aim to raise awareness, promote research, and improve sleep health globally.
Global Sleep Testing Services Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems regarding transportation of drugs from one place to another.
COVID-19 pandemic has had a significant impact on the sleep testing services market. Lockdowns and restrictions led to the temporary closure or reduced operations of sleep testing facilities, resulting in a decline in tests conducted. Home sleep testing gained popularity as a safer alternative, allowing patients to conduct tests at home. Delayed diagnosis and treatment occurred due to limited access to healthcare facilities. Telemedicine played a crucial role in providing virtual consultations and follow-up care. As vaccination efforts progress and restrictions ease, the market is expected to recover gradually with safety measures in place.
In March 2020, a survey conducted by Medqor highlighted a notable decline in patient visits to sleep centers, with approximately 68.0% of the participants reporting this decrease. The outbreak of the pandemic was identified as the primary factor contributing to this decline in patient visits.
Global Sleep Testing Services Market: Key Developments
In December 2021, the sleep clinic at Clark Memorial Health which is located in Jeffersonville in USA. Clark Memorial Health received approval from the Accreditation Commission for Health Care (ACHC) to provide sleep treatment services in the Indiana region.
In October 2021, Resmed Inc., ResMed Inc. is a global leader in digital health and sleep apnea treatment, providing innovative solutions and medical devices to improve the lives of individuals with sleep-related disorders. With a focus on advancing digital health technologies, ResMed is committed to transforming care and empowering patients to manage their conditions effectively. which initially held a minor investment in Ectosense (Ectosense is a company that specializes in sleep diagnostics and therapy solutions. They offer innovative products and technologies for the diagnosis and management of sleep disorders), completed the acquisition of the company. This acquisition allows Resmed Inc. to expand its consumer database in countries such as New Zealand, Australia, the U.S., EU territories, and India. Ectosense will now operate within ResMed Inc.'s Sleep and Respiratory Care business.
Browse 38 Market Data Tables and 33 Figures spread through 238 Pages and in-depth TOC on “Global Sleep Testing Services Market”- Forecast to 2030, Global Sleep Testing Services, by Diagnostic (Home Sleeping And In lab Sleeping Electroencephalogram, Full Polysomnography, CPAP/BiPAP Titration,Multiple Sleep Latency Test, Maintenance of Wakefulness Test), By Application (Obstructive Sleep Apnea, Insomnia, Restless Legs Syndrome, Circadian Rhythm Sleeping Disorders,Narcolepsy,Rapid Eye Movement (REM) Sleep Disorder) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) by End User (Hospitals, Sleep centers, Home Care Settings)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/sleep-testing-services-market-3764
Key Takeaways of the Global Sleep Testing Services Market:
- The global sleep testing services market is expected to exhibit a CAGR of 12.1% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global sleep testing services market . The development of the sleep testing services market is driven by increasing awareness about sleep health, the high prevalence of sleep disorders, technological advancements, the health implications of untreated conditions, and the economic burden of sleep disorders. These factors have contributed to the growing demand for accurate diagnosis and treatment, leading to the expansion of the global sleep testing services market.
- Among diagnostic test type, The sleep testing segmented into home sleep testing and in- lab sleep testing(Electroencephalogram,Full Polysomnography,CPAP/BiPAP Titration,Multiple Sleep Latency Test (MSLT),Maintenance of Wakefulness Test (MWT)). Home sleep testing (HST) has emerged as the dominant method in the global sleep testing market due to its convenience, cost-effectiveness, and advancements in portable monitoring devices. While in-lab testing still plays a role in complex cases, HST offers a more natural sleep environment and accurate results. Increased accessibility and patient preference have further propelled the prominence of HST in the global sleep testing market.
- Among Application, (Obstructive Sleep Apnea) OSA is the most dominant sleep disorder due to its high prevalence, disrupted breathing during sleep, associated health risks, and the availability of effective treatment options. Continuous Positive Airway Pressure (CPAP) therapy, the gold standard treatment for OSA, has been widely adopted and proven to effectively manage the disorder. The existence of a well-established and successful treatment modality further solidifies OSA's prominence in the sleep disorder landscape.
- Among region, North America dominates the global sleep testing services market due to high awareness and acceptance of sleep-related disorders, advanced healthcare facilities, patient-friendly regulations, a strong network of sleep centers, and leading market players.
In recent years, North America's dominance in the global sleep testing services market has been evident. The American Sleep Association's initiatives in 2021, such as awareness campaigns and research efforts, have significantly raised awareness and acceptance of sleep disorders in the region. This clear proof underscores North America's proactive approach and solidifies its leadership in the global sleep testing services market.
- Major players operating in the global sleep testing services market include Midwest Sleep Services Inc., SleepMed Inc., SOVA Sleep Services Inc., Medical Service Company, Sleep Services Australia, Genesis SleepCare, St. Luke’s Center of Sleep Medicine, Total Sleep Holdings Plc., Carolinas Sleep Services
