Overview:
The global market report on the Sleep Testing Services Market reveals several factors like the scope to understand mental stress and predict diseases, ability to perform tests to inspire better treatments to help people cope with their stress and other sleep-related problems as major traction provider for the market. The test will do all these by recording sleep patterns, level of oxygen in the blood, eye and leg movement, brainwaves, and also heart rate. Market Research Future (MRFR) predicts the market has a chance of acquiring 13.2% CAGR during the forecast period of 2018 to 2023.
However, the cost connected with the process may deter market growth. But companies are ready to invest in the process to ensure patients get maximum benefit.
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Segmentation:
The global sleep testing services market, as reported by MRFR analysts, has been segmented for a detailed study on the basis of treatment monitoring services, diagnostic services, and end user. These segments and their data with statistics are expected to support market growth during the forecast period.
By diagnostic services, the global market report containing details of the sleep testing services market comprises home sleep testing and in-lab sleep testing. The in-lab sleep testing can be segmented into full polysomnography, electroencephalogram, multiple sleep latency test (MSLT), CPAP/BiPAP titration, and maintenance of wakefulness test (MWT).
By treatment monitoring services, the global market report has been segmented into insomnia, restless legs syndrome, obstructive sleep apnea, narcolepsy, circadian rhythm disorders, and rapid eye movement (REM) sleep disorder. The obstructive sleep apnea segment has the largest market share as a large number of people reported that they are suffering from the disease. The insomnia segment can be defined as the fastest-growing segment during the forecast period as the number of people having trouble with this is rising.
By end users, the report on the sleep testing services market includes home care settings, sleep centers, hospitals, and others.
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Regional Analysis:
The global market for sleep testing devices market is expected to get bolstered by the Americas. The regional market would profit from the participation of countries like the US and Canada where the markets were witnessing constant influx of funding for better growth.
Competitive Landscape:
The global market is getting ample traction from several companies like SOVA Sleep Services, HomeSleep, LLC, SleepWorks, LLC, GenesisCare, Total Sleep Holdings, Inc., SleepMed, Medical Service Company, Carolinas Sleep Services, Midwest Sleep Diagnostics, Inc., Sleep Services Australia, and St. Luke's. The global market is also getting boosted by the rising inclusion of new entrants who are impacting the market with their innovative strategies. This makes the competition strong and helps the market in growing further.
Industry News:
In June 2020, Onera Health announced that they received around USD 2.8 million from the European Innovation Council Accelerator to develop its medical-grade remote care to help chronic patients and patients have trouble with sleep. This initiative is especially to bolster the review of how people are reacting to post-COVID conditions. Experts are expecting some spike in PTSD cases in healthcare support providers, which may also get help from such a developmental process.
In June 2020, EnsoData announced that it received funding worth USD 9 million to develop technologies based on artificial intelligence that would monitor the health standard. The company is planning to launch new AI products for sleep and neurology segments and expand their partnerships with academic medical centers, sleep clinics, home sleep testing providers, enterprise health systems, and integrated diagnostic testing facilities.
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