Sleep Monitoring Devices Market: Rising Prevalence of Sleep Related Disorders is Expected to Drive the Market
Sleep monitors are used to analyze and understand sleep physiology and pathophysiology for wellness in human beings. Sleep monitoring devices are also known as sleep tracking devices.
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Sleep affects almost each and every tissue and system in the body, starting from the brain, lung, and heart to metabolism, mood, disease resistance, and immune function. Good sleep is necessary for optimal health as it can affect hormone levels, mood and weight. Lack or poor quality of sleep increases the risk of disorders such as cardiovascular diseases, high blood pressure, depression, diabetes, and obesity.
Based on type of devices used, the sleep monitoring devices market is segmented into diagnostic devices and therapeutic devices. Laboratory-based sleep tracking is known as polysomnography. Laboratory sleep monitoring devices include respiratory polygraphs, pulse oximeters, and actigraph systems. Recent technological advancements and rise in prices of health care services have boosted the demand for portable devices.
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Portable devices have advantages over lab techniques which include continuous measurement, evaluation of temporal pattern, and self-experimentation related with measurement functions. These portable sleep monitoring devices provide capacity to obtain bulk of sleep-wake data that would improve customized health optimization, disease phenotyping, and personalized treatment decisions. The polysomnogram is an efficient diagnostic and treatment device for obstructive sleep apnea and other disorders such as narcolepsy, non-rapid-eye-movement (NREM) parasomnias, and periodic limb movement disorder.
Polysomnography provides pin-point accuracy in the diagnosis and treatment; however, it is costly and inconvenient in application. These disadvantages have increased the demand for portable sleep monitoring devices. In terms of end-users, the global sleep monitoring devices market is segmented as hospitals, sleep clinics, community health care, and home health care.
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Major factors driving sleep monitoring devices market are rising prevalence of sleep related disorders, growing geriatric population, changing lifestyle, increasing awareness regarding health, improving diagnosis rates, introduction to new technologies, improving health care infrastructure, rising health care spending, and favorable reimbursement policies. However, high cost of treatment, stringent regulatory procedures, side effects of sleep monitoring devices restrain the market.
Preferred sleep monitoring devices were found to be Misfit Shine, SleepRate, Jawbone UP24, Fitbit One, Fit Bit Flex, and Withings Pulse O2. Misfit Shine is one of the smallest devices that consists waterproof metal disc that automatically detects deep sleep, light sleep, and movement. It also transfers the data via Bluetooth to the Android or iPhone app.
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SleepRate combines smartphone app with a chest rate monitor. It can be also be used as a heart rate strap that monitors sleep and helps design a sleep improvement plan. Jawbone UP24 is a fitness band that monitors deep and light sleep and walking periods using movement and automatically connects to an iPhone or Android smartphone via Bluetooth. The future of sleep monitoring devices is expected to shift toward disruptive technology; therefore, self-monitoring devices are expected to have high demand in the near future. The consumer market for sleep monitoring devices is expected to propel due to high acceptance and demand for prescribed and clinical sleep monitoring devices.
Based on geography, North America, followed by Europe, dominates the global sleep monitoring devices market due to favorable reimbursement policies, increased awareness regarding health, and introduction to newer technology. Additionally, the sleep monitoring devices market in Asia Pacific is emerging due to increasing health care awareness among the patients and rise in disposable income.
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The key players operating in the sleep monitoring devices market are NeuroVigil, Inc., MyCardio LLC, Fitbit, Inc., Lark Technologies, Inc., Innovative Sleep Solutions, Inc., Jawbone, Res Med, and BAM Labs, Inc.
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