Sleep Testing Services Market is Projected to grow at CAGR of 13.2% During Forecast Period 2019-2023

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Sleep Testing Services Market is Projected to
grow at CAGR of 13.2 During Forecast Period
2019-2023
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Sleep Testing Services Market
Market Highlights The global sleep testing
services market is anticipated to hold a market
value of USD 5.9 billion in the year 2017 and is
expected to grow at a CAGR of 13.2 during the
forecast period. Sleep testing services are used
to diagnose sleep disorders by recording heart
rate, breathing patterns, brain waves, eye
movements, leg movements, etc. Rising prevalence
of sleep disorders, increasing awareness about
sleep testing services and technological
advancements related to sleep testing services
are expected to drive the growth in the market
over the forecast period. According to an article
published in the Psychiatry Research magazine by
Science Direct published in July 2018, global
prevalence of restless leg syndrome (a sleep
disorder) is 14.8. However, high costs of the
sleep testing services can restrain the market
growth over the assessment period. Request For
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Sleep Testing Services Market
Regional Analysis Geographically, the Americas is
expected to dominate the global market owing to
the high prevalence of various sleep disorders,
rising awareness about the sleep testing
services. According to an article published by
the National Institute of Neurological Disorders
and Stroke in July 2018, 135,000 to 200,000
people in the US are affected by narcolepsy,
which is a disorder that affects the sleep-wake
cycle of a person. Europe is expected to hold the
second largest position in the global market
owing to the increasing awareness about sleep
testing services. Asia-Pacific is expected to be
the fastest growing market owing to the rising
prevalence of sleep disorders like insomnia,
restless leg syndrome, etc. Moreover, the Middle
East and Africa region is expected to account for
the least market share in the global market. Get
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Sleep Testing Services Market
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 global market, on the basis of
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 global sleep testing services
market, by end user, has been segmented into
hospitals, sleep centers, home care settings and
others. The hospitals segments is expected to
hold the largest market share owing to high
preference of people visiting the hospitals for
treating their disorders. Whereas the sleep
centers are expected to grow at the fastest
market share owing to increasing awareness among
patients regarding the sleep centers.
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