Home Sleep Screening Devices Market Size Estimates and Forecasts by Region, Growth Rate and Trend Analysis by Types and Application 2018 to 2028

Worldwide sales of sleep screening devices for the home exceeded $ 2.3 billion in 2018, according to the latest study by Future Market Insights (FMI). For 2019, FMI expects a robust increase in sales of around 7%. According to the report, much of its revenue is generated from home sleep device sales from retail stores, the preferred channel for home sleep screening device manufacturers, followed by online sales.

In terms of sales, portable sleep screening devices account for over 65% of sales of the total home sleep screening device market. However, it is estimated that the increasing affordability and adoption of non-wearable devices for continuous sleep tracking without physical contact with the device will fuel the growth of the non-wearable home sleep screening device segment in the near future.

Despite the fact that insurance reimbursement rates for home sleep studies are low, the convenience and portability of these devices make up for the lack of reimbursement. A growing trend towards the use of wearables as lifestyle devices is driving the demand for home sleep screening devices and it is one of the factors driving revenue generation in the home sleep screening device market.

Prevalence of sleep-related disorders and increasing number of manufacturers accelerating the market reach of home sleep screening devices

The increasing demand for sleep studies with sleep screening devices at home is due to the increasing number of prescriptions for sleep tracking at home. Sleep disorders affect a large population, which has raised awareness of these disorders and other related ailments. The increase in the prevalence of sleep disorders has led to the expansion of private care centers and hospitals. These sleep centers have raised people’s awareness of the importance of tracking sleep patterns for better sleep. This is driving the use of home sleep screening devices for cases of insomnia and, as a result, increasing the revenue generation of the home sleep screening device market.

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An increasing number of manufacturers in the home sleep screening device landscape and increasing patient awareness of sleep-related disorders will drive demand for home sleep screening devices around the world. The number of local manufacturers of sleep tracker systems as well as the availability of different types of trackers such as wristbands, headbands, tracker masks and ring devices has steadily increased. Depending on the data they want to analyze and the type of wearable they prefer, customers can choose from a range of products based on which they can base their decisions on a product based on their affordability and medical feasibility. This is a major contributor to the growth of the home sleep screening device market.

Further development of sleep tracking technology to increase the sales potential of sleep screening devices

The technology used in home sleep screening devices is based on mapping REM sleep, healing rate, breathing patterns, and deep sleep. However, new devices for home sleep screening incorporate the same technology as that used in actigraphy and polysomnography devices. It is estimated that the growing trend of using a sleep tracker as a lifestyle accessory is fueling the growth of the home sleep screening device market.

Technological advances in smart home sleep screening devices have led to the development of hybrid devices that track not only activity but also sleep patterns. These smart home sleep screening devices are able to track fitness aspects such as distance traveled, calorie consumption, monitoring of the heart rate and also sleep patterns such as deep and light sleep and REM.

For example, Fitbit, Inc.’s Fitbit Ionic product tracks fitness / activity and sleep patterns. It can track REM, deep, and light sleep, as well as giving tips on efficient sleep patterns based on a person’s lifestyle. It is estimated that similar technological trends will remove the factors holding back the growth of the home sleep screening device market.

The Consumer Electronics Association partnered with the National Sleep Foundation to create the Wearable Sleep Monitoring Equipment Group, which aims to advance the development of sleep technologies. This is also said to improve the quality of portable sleep screening devices to ensure better data collection and storage. The introduction of certain new advances and technologies is expected to create growth opportunities for the home sleep screening device market.

The report tracks some of the key companies operating in the Home Sleep Screening Device market including Fitbit, Inc., Koninklijke Philips NV, Huami Corporation, Fossil Group, Inc., Garmin Ltd., Huawei Technologies Co., Ltd ., ResMed Inc., Responsive Surface Technology, LLC and Simmons Bedding Company LLC.

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