Market Scenario
Global sleep testing services market is expected to grow significantly over the forecast period. It is anticipated that the market held a valuation of USD 5.9 billion in 2017 and is projected to grow at a CAGR of 13.2% over the forecast period. Sleep testing services are a set of medical tests that are used to recognize and diagnose sleeping disorders. They record breathing patterns, oxygen levels in blood, leg & eye movements, brainwaves and heart rate.
The factors such as increasing prevalence of sleep disorders, private insurance service providers and heavy adoption of the services by people are expected to propel the growth of the market. However, the high cost associated with sleep testing services can hamper the market growth over the forecast period.
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Segmentation
The Global sleep testing services market has been segmented into diagnostic services, treatment monitoring services and end user.
The market, on the basis of diagnostic services, has been segmented into home sleep testing and in-lab sleep testing. In-lab sleep testing is further segmented into electroencephalogram, full polysomnography, CPAP/BiPAP titration, multiple sleep latency test (MSLT) and maintenance of wakefulness test (MWT).
The market, by treatment monitoring services, has been segmented into obstructive sleep apnea, insomnia, restless legs syndrome, circadian rhythm disorders, narcolepsy and rapid eye movement (REM) sleep disorder. The obstructive sleep apnea segment is expected to hold the largest market share owing to large number of people suffering from the disorder. Insomnia is expected to be the fastest growing segment owing to the growing prevalence of the disorder.
The market, by end users, has been segmented into hospitals, sleep centers, home care settings and others.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The sleep testing services market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European sleep testing services market has been segmented into Western Europe and Eastern Europe. Western Europe has been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The sleep testing services market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The sleep testing services market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
Geographically, the Americas is anticipated to dominate the global sleep testing services market owing to rising prevalence of sleep disorders in the region and rising popularity of the services by American people. According to a data published by the American Academy of Sleep Medicine in September 2014, 25 million adults in the US suffer from obstructive sleep apnea. Europe is expected to hold the second largest position in the global sleep testing services market. The market growth in this region is attributed to the rising awareness of sleep testing services. The sleep testing services market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and the Rest of the Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to the growing prevalence of sleep disorders. According to a report published by the Public Library of Science (PLOS) in February 2017, 15% people in China suffer from insomnia. The Middle East & Africa are expected to hold the least share of the market. The market growth in this region is expected to be driven by a developing healthcare infrastructure.
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