What is Sleep Tech Devices Market?
Sleep tech devices are designed for monitoring and improving the outcome in patients with sleep disorders such as sleep apnea, insomnia, narcolepsy, etc. Sleep tech devices market growth will be accelerated by technological advances such as the introduction of advanced sleep tech beds and rings, as well as increased government funding in several countries.
The market study is being classified by Type (Wearables (Smartwatches and bands, Others) and Non-wearables (Sleep monitors, Beds, Others)), by Application (Insomnia, Obstructive sleep apnea, Narcolepsy and Others) and major geographies with country level break-up.
Beddit (Finland), Xiaomi (China), Koninklijke Philips N.V. (Netherlands), ResMed (United States), Fitbit (United States), Sleepace (China), Withings (France), Oura Health (Finland), Dreem (France), Eight Sleep (United States) and Casper Sleep (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Sleep Shepherd (United States) and Emfit (Finland).
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Sleep Tech Devices market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Sleep Tech Devices market by Type, Application and Region.
On the basis of geography, the market of Sleep Tech Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing prevalence of sleeping disorders across the globe
- Rising awareness regarding the availability of sleep tech devices
Market Trend
- Technological advancements in sleep tech devices
Restraints
- High cost of sleep tech devices
Opportunities
- Rising awareness towards wearable and non-wearable devices
- availability of advanced infrastructure and healthcare facilities for the treatment of various sleeping disorders
Challenges
- Stringent government regulation
Market Leaders and some development strategies
In Mar 2019, ResMed acquired HB Healthcare, a home medical equipment provider based in South Korea. This strategy helped the company in attracting larger customer base across South Korea.
In Apr 2019, Casper launched hybrid mattress that offers a more airflow than the conventional products and cools while snoozing. The new product launch offered a competitive edge to the company over other industry players and helped to garner more market share.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Providers of Sleep Tech Devices, Raw Material Suppliers, Venture Capitalists and Private Equity Firms and End-Use Industry