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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.

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. 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.

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. 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.

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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Sleep Monitoring Devices Market

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