CAGR Of Sleep Studies Will Be 12.8% Till 2032 Due To An Increase In Demand For Sleep Problem Treatments

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Last updatedLast updated: June 06, 2022
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In our current times, sleeping disorders are increasing in people all across the world. As a consequence, a large population is eagerly searching for treatments to diagnose their sleep problems.

According to recent research and surveys, the vast majority that is the victim of severe health problems due to a deficiency of sleep is actively seeking recommended treatments from professionals.

Statistics have revealed that around $5.1 Billion was spent on sleep studies in 2021. Moreover, the compound annual growth rate will increase up to 12.8% in the next decade.

What a Sleep Study Is

A “sleep study” is a method used to treat sleeping disorders in people and is also known as “polysomnography”. In this particular technique, different aspects of the human body are monitored during sleep; such as oxygen level in the blood; heartbeat and respiration rate; body movements, and brain signals. Studying the data allows researchers to determine various solutions to cure sleep deprivation in people.

Why the Demand for Them Is Growing

Furthermore, the demand for the treatment of sleep problems is increasing all around the globe. Several countries are investing a significant amount of money in research to develop scientific techniques to diagnose sleep shortages. Around 2500 sleep centers are operating in the United States, under the supervision of the American Academy of Sleep Medicine.

In this contemporary era, new technologies are constantly being introduced in markets. There are many new smartphone software and applications specifically developed for health monitoring purposes. These innovative technologies are generating high revenues due to rapid increase of demand.

Inarguably, sleep disorders can cause serious health complications. And people can have different illnesses like sleep apnea, insomnia, narcolepsy, restless leg syndrome, and rapid eye movement sleep disorder. After gathering data by monitoring individuals in sleep centers, sleep physicians created treatments and several therapies depending on the collective data. As a result, someone suffering from sleep disorders can now be treated without even physical examination.

A different diagnosis such as telemedicine can now help remove barriers that occur in other devices. An analyst of Future Market Insights (FMI) said that there can be a surge in the sleep study market if sleep tracking devices are made common among people. Sleep disorders should be monitored regularly using these portable devices such as sleep tracking wristbands. These types of modern gadgets will help find out the causes of sleep deprivation in people and solutions to treat severe disorders. Ultimately, they will help in improving both the physical and mental health of humans.

The Outcome

In an exponentially growing market, numerous leading companies are trying to launch different prevalence and monitoring devices for sleep studies. An example of such an attempt is the medication company, ResMed. ResMed introduced a new digital device in the market in August 2021. Airsense 11 PAP series, which is used for treating sleep apnea disorder. Another attempt was by a sleep center, Sleep Dynamics. They introduced the treatment of narcolepsy in January 2020. This company is determined to help people with sleep disorders.

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