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Sleep Service Providers Market Segmented By Home Sleep Testing, In-Lab Testing, Electroencephalogram, Full Polysomnography Multiple Sleep Latency Test, Maintenance of Wakefulness Test Diagnostic Services and Obstructive Sleep Apnea, Insomnia, Restless Legs Syndrome, Circadian Rhythm Sleeping Disorders, Narcolepsy, Rapid eye movement sleep disorder Treatment monitoring
The global revenue from the sleep service providers market stands at US$ 5.8 Bn in 2022, with the global market expected to grow at a CAGR of 11.6% to reach a valuation of approximately US$ 17.4 Bn by the end of 2033.
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Market Size (2022) |
US$ 5.8 Bn |
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Projected Market Value (2033) |
US$ 17.4 Bn |
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Global Market Growth Rate (2023-2033) |
11.6% CAGR |
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Market Share of Top 5 Countries |
43.8% |
As assessed by Persistence Market research, in-lab testing services will hold a market share of around 61.4% in 2023. Overall, sleep service providers market sales account for approximately 21.3% revenue share in the global sleep aids market, which was valued at around US$ 27.2 Bn in 2022.
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The global market recorded a historic CAGR of 11.8% in the last 10 years from 2012 to 2022.
The market for sleep testing services is presented with potential growth opportunities due to the rising frequency of sleep disorders, particularly in the United States and other European nations. The National Healthy Sleep Awareness Project estimated that over 25 million adults in the United States had sleep apnea. This demonstrates the level of opportunity accessible to providers of sleep services in the United States.
The need for sleep diagnostic services is rising as home sleep testing becomes more popular and continuous monitoring of sleep disorders becomes more popular. Further factors that are anticipated to boost demand for continuous surveillance of sleep testing services include increased monitoring costs for obstructive sleep apnea (OSA) and other sleep disorders as well as rising financial burdens on governments to track the course of sleep disorders.
Additionally, it is anticipated that a greater number of people will need sleep services in the Asia Pacific area due to the rising prevalence of sleep disorders in Asian nations like China and Singapore.
Through the mandated deployment of sleep testing, sleep services, such as commercial in-lab sleep test and home sleep tests are likely to earn reimbursement from insurance companies. For instance, United Health Insurance Company announced the requirement for sleep test precertification in 2011.
In accordance with these regulations, insurance providers are required to pay for home sleep testing (HST) rather than the more extensive polysomnography sleep testing (PSG). Demand for HST testing is anticipated to increase, notably in North America, as a result of such statutory requirements placed on insurance service providers.
Future growth of sleep clinics may be constrained by high cost structures and extended waiting times for sleep studies. Additionally, this would provide home sleep testing facilities with an extra benefit. The provision of sleep testing services alongside other respiratory care and cardiac disease management treatments, although, may not be a unique proposition strategy adopted by sleep clinics. For the projection term, this would guarantee a consistent rate of revenue production for sleep clinics.
Thus, owed to the above-mentioned factors, the global market is likely to show high growth over the coming years at a CAGR of 11.6% and reach a global market size of US$ 17.4 Bn by 2033.
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The ability of individual users to diagnose sleep disorders will likely be greatly influenced by devices like wellness devices used at home. To acquire a competitive edge in the market, businesses are anticipated to concentrate on supplying new and improved portable sleep disorder diagnosis testing devices. Patients are thus less likely to favour in-lab testing, while they are more likely to prefer sleep testing done at home.
The global market for sleep services providers has a significant growth opportunity due to the high efficiency of HST services. The poor efficacy of HST devices compared to in-lab sleep testing presents issues for the industry today. Additionally, due to limitations in OSA identification, 25% to 30% of people with sleep-related illnesses do not need HST services. Such a restriction offers a promising market for the production of HST devices and is anticipated to give a significant opportunity for the various competitors in the worldwide market for sleep testing services.
Moreover, the need for sleep services would rise globally as a result of changing insurance policies. Government agencies are concentrating on implementing cost-cutting sleep testing services management plans with insurance providers. Governments with healthcare insurance providers in mind developed these policies. This would enable a greater emphasis to be placed on particular life-saving services like oncology, imaging, and others.
“Long Wait Times and Reduction in Physician Fee Reimbursement”
The risk of heart failure, stroke, high blood pressure, diabetes, and obesity are just a few chronic illnesses that can develop as a result of a late diagnosis of sleep problems. Due to lengthy wait times and the restricted bed capacity of clinics offering sleep diagnostic services, patients with sleep-related disorders are more likely to suffer consequences.
Because there are fewer sleep clinics in Canada than there are in the United States, there is a tendency for longer wait times for sleep services. The higher wait times needed to access sleep services could pose a serious threat to the market's ability to expand.
Due to higher costs and advantageous reimbursement policies, the U.S. commands the majority of the market share for sleep testing services globally. Physicians who provide sleep services face a number of challenges as a result of the financial instability of Medicare spending, including a drop in physician fee reimbursement.
Under the Balanced Budget Act of 1997, the Centers for Medicare and Medicaid Services (CMS) released a new price schedule in 2011, which decreased the payment rate for service providers from 29.5% in 1998 to 27.4% in CY 2012. The adoption of sleep services, particularly for in-lab sleep testing, has been significantly impacted by this decrease in physician fee reimbursement.
As a result, it is anticipated that the in-lab sleep testing services sector will lose market share throughout the projection period.
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Why is the U.S. Market Booming?
“High Prevalence of Sleep Disorders”
The U.S. is set to account for around 31.2% share in the global market in 2023. The market is expected to expand as a result of factors like rising elderly populations globally, changing lifestyles, and a lack of quality sleep, which have already fuelled the expansion of the market. The introduction of innovative, FDA-approved drugs and medical equipment for the treatment of such sleep disorders presents a potential opportunity for the market for treatments for sleep disorders.
The American Sleep Apnea Association estimates that 22 million Americans experience sleep apnea each year, with many cases of mild and severe obstructive sleep apnea going untreated. The country's high prevalence of sleep problems will fuel the market's overall expansion over the forecast period.
Will Germany Be a Lucrative Market for Sleep Service Providers?
“Growing Awareness on Treatment Modalities”
Germany is set to hold around 4.9% share of the global market in 2023. The growth in awareness of sleep problems and the risks connected with them among various organisations, including the British Sleep Society and Survey Sleep Research Center, has driven demand within the market in Germany.
Sleep disorders, such as narcolepsy or insomnia, and sleep apnea, are medical illnesses that cause a patient to have difficulty falling or staying asleep. As a result of this condition, cognitive, physiological, behavioural, and psychological functioning become erratic. There are numerous approaches to treat sleep disturbances depending on the symptoms of the patient. Mechanical interventions are utilised to treat the vast majority of sleep apnea sufferers.
How is Japan Emerging as a Prominent Market?
“Large Geriatric Population”
Japan is set to hold a market share of about 5.8% of the global market in 2023.
As the geriatric population grows, the prevalence of chronic diseases like cancer, joint problems, metabolic diseases, orthopaedics, respiratory illnesses, cardiovascular problems, and other age-related diseases is rising; the older population is more susceptible to diseases; as a result, there is a strong relationship between age and the increase in populations who snore because the condition tends to get worse with age. The market is expected to expand as people become more aware of the harmful effects of snoring and sleep apnea.
Which Service is Driving Demand within the Global Market?
“Greater Efficacy in Lab Settings”
The in-lab testing services segment is set to account for around 61.4% of the total market in 2023.
Sleep disorders such sleep apnea, and insomnia or narcolepsy can be diagnosed via in-lab sleep testing investigations. The in-lab sleep test is regarded as the gold standard for detecting and diagnosing sleep apnea. Typically, sleep studies are performed in a sleep lab throughout the regular sleeping hours.
The objective is to document the physical and mental activity that takes place when a person is sleeping in order to identify and treat sleep disorders. The effectiveness of a therapeutic intervention, such as positive airway pressure (PAP) therapies for patients who have breathing issues while they sleep, is another reason to perform a sleep study.
Which Indication is Largely in Focus within the Global Market?
“Management of Sleep Disorders by Providers”
Obstructive sleep apnea is set to hold around 41.2% of the total market in 2023.
A continuous positive airway pressure (CPAP) machine may be suggested by a doctor to stop snoring and avoid sleep apnea. Oral devices offer an alternative for some persons with mild or severe obstructive sleep apnea, even though positive airway pressure is frequently an effective treatment. It is also utilised by those who are unable to use CPAP due to severe sleep apnea.
The quality of life could be enhanced and tiredness reduced by using these technologies. Due to the signs, symptoms, and sleep history, the doctor may determine that sleep services are required for obstructive sleep apnea, thus increasing market share, globally.
Which End User Provides the Global Market With a Large Share?
“Better Evaluation of Sleep Disorders”
Sleep centers held a share of about 62.5% in 2022 globally. A comprehensive test for identifying sleep disorders is polysomnography, often known as a sleep study. During the study, polysomnography records eye and leg movements as well as brain functions, the oxygen levels in blood, pulse rate, and respiration. A sleep study is a non-invasive, overnight procedure that enables medical professionals to keep an eye on patients as they sleep in order to determine what is happening in the brain and body.
The patient will go to an overnight-capable sleep lab for this test, which is typically located in a hospital or sleep center. An EEG analyses the patient's sleeping cycles and the phases of REM as well as nonREM sleep throughout the night in order to look for any potential sleep pattern disturbances.
To increase their market share, businesses in the sleep testing services sector are primarily concentrating on geographic expansion and the introduction of cutting-edge treatment systems. Large corporations are working together to improve their market positions and develop sustainable positioning. Key players are aiming on enhancing their presence via collaborations with regional producers and acquisitions to boost their revenues. Furthermore, companies are concentrating on the North America, Asia Pacific, and Europe regions by employing a localization strategy.
Some key instances of development within the market include:
Similarly, the team at Persistence Market Research has tracked recent developments related to companies in the sleep service providers market, which are available in the full report.
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Details |
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2012-2022 |
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Market Analysis |
USD Million for Value |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Covered |
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Report Coverage |
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Customization & Pricing |
Available upon Request |
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The global market is currently valued at around US$ 5.8 Bn in 2022.
Sales of the market are set to witness growth at a CAGR of 11.6% and be valued at around US$ 17.4 Bn by 2033.
Demand for the global market increased at 6.5% CAGR from 2012 to 2022.
The U.S., Germany, Japan, and Australia account for most demand within the market, currently holding around 43.8% market share.
The U.S. is set to account for around 31.2% share of the global market in 2023.
Europe is set to account for more than 25% share of the global market in 2023.
Japan is set to hold a market share of about 5.8% of the global market in 2023.
Germany is set to hold around 4.9% share of the global market in 2023.
The China market is expected to grow at 15.5% CAGR during the forecast period.
The market in India is set to expand at a 14.8% CAGR over the forecast period.
