The overall sleep testing services market is expected to surge to $ 8,395.7 Mn by 2021-end, recording a CAGR of 12.9% during the forecast period, 2015-2021.
New York, NY -- (SBWIRE) -- 09/05/2017 -- Sleep study/polysomnography is a form of assessment to diagnose sleep disorders. Sleep study assessment records multiple functions, such as brain waves, heart rate and breathing, oxygen level in blood, along with eye and leg movements.
A sleep study is generally directed in a laboratory/clinic as well as in home care surroundings. The study is conducted to diagnose numerous sleep disorder conditions, for example, periodic limb movement disorder, REM, sleep apnea, narcolepsy, sleep behavior disorder, inexplicable chronic insomnia, and others.
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The global sleep testing services market is segmented on the basis of service type, end user and region.
On the basis of service type, the market is further segmented as diagnostic services and treatment monitoring. Diagnostic services include home sleep testing, in-lab testing, electroencephalogram, full polysomnography, CPAP/BiPAP titration, multiple sleep latency tests (MSLT) and maintenance of wakefulness test (MWT). Treatment monitoring includes obstructive sleep apnea, insomnia, restless legs syndrome, circadian rhythm sleeping disorders, narcolepsy and rapid eye movement (REM) sleep disorder.
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Based on end users, the market is segmented into hospitals, sleep centers, and home care settings of which, the home care setting segment is likely to see the maximum CAGR of 15.7% during the forecast period. Home care setting section is expected to lead to strong development prospects because of cheap and easy availability. On the other hand, in-lab testing services will continue to remain lucrative during the forecast period.
In terms of region/country, Europe and Asia-pacific markets are likely to increase by 100 and 140 bps respectively during the forecast period because of the accessibility of huge patient pool and growing awareness concerning home based sleep testing. However, it will be the market in North America that will continue to account for largest revenue share. A key trend observed in North America sleep testing market is the shift to HST.
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Moreover, medical tourism hubs in Asia are likely to profit considerably by the contribution of less expensive sleep services. Therefore, these regions are anticipated to see favorable revenue growth from sleep services during the forecast period.
Key companies operating in the global sleep testing services market include Medical Service Company, St. Luke's Center of Sleep Medicine, Genesis SleepCare, Midwest Sleep Services Inc., Sleep Services Australia, SOVA Sleep Services Inc., SleepMed Inc., Carolinas Sleep Services and Total Sleep Holdings Plc.