The global sleep tech devices market is set to expand from $12,888.4 million in 2020 to $49,984.7 million by 2030, growing at a compound annual growth rate (CAGR) of 14.5% from 2020 to 2030, according to P&S Intelligence. Key factors driving this growth include the increasing prevalence of sleep disorders, heightened awareness of the negative effects of untreated sleep apnea, and the rising use of oral appliances.
Sleep disorders, such as insomnia, sleep apnea, narcolepsy, parasomnias, and restless legs syndrome, are becoming more common, leading to increased demand for sleep tech devices. These disorders can impact various aspects of life, including mental health, productivity, safety, and even body weight. Furthermore, untreated sleep disorders can raise the risk of developing conditions like heart disease and diabetes. Awareness of the dangers of untreated sleep apnea is also propelling market growth.
According to the American Academy of Sleep Medicine (AASM), obstructive sleep apnea (OSA) is a prevalent condition where breathing pauses occur during sleep. If untreated, it can significantly affect a person’s health and well-being, altering oxygen levels and vital signs, and degrading sleep quality. Long-term untreated apnea adds stress to the body, increasing the risk of other health problems.
The market is segmented into wearable and non-wearable devices based on product type. Wearable devices generated higher revenue from 2015 to 2020 and are expected to continue leading due to the rising demand for portable devices that can track and monitor data in real time. These wearables assist healthcare providers by enabling early problem detection and continuous monitoring.
Geographically, North America has dominated the market due to high healthcare expenditure and increased public awareness of the benefits of proper sleep. The growing prevalence of sleep disorders has further fueled demand in the region. For instance, approximately 50–70 million U.S. adults were affected by sleep disorders in 2018, according to Sleep Apnea Statistics.
Meanwhile, the Asia-Pacific (APAC) region is anticipated to witness the fastest market growth in the coming years. Factors such as technological advancements, a growing elderly population, and increased adoption of sleep technology drive demand. As older adults are more prone to sleep disorders, the increasing geriatric population boosts the market in this region. Additionally, industry players are engaging in mergers and acquisitions to meet the rising demand.
Thus, the future of the sleep tech devices market looks promising, driven by the increasing incidence of sleep disorders worldwide.
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