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Asia Pacific Sleep Tech Devices Market Size By Gender (Male {<18, 18-36, 37-55, >55}, Female {<18, 18-36, 37-55, >55}), By Product (Wearables {Smart Watches and Bands}, Non-wearables (Sleep Monitors, Beds}), By Application (Insomnia, Obstructive Sleep Apnea, Narcolepsy), By Distribution Channel (Specialty Clinics, Direct-to-Consumer, Hospitals), Research Report, Country Outlook (China, Japan, India, Australia, South Korea, Taiwan, Malaysia, New Zealand, Indonesia), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027
Published Date: May 2021 | Publisher: Graphical Research Report ID: GR1784 | Delivery : PDF  Request Free Sample

Asia Pacific Sleep Tech Devices Market size valued at USD 2.5 billion in 2020 and is set to observe around 18.1% growth between 2021 and 2027.

Numerous players are aiming on evolving sleep-aid technologies for improved patient care. Progressive sleep tech devices are majorly used for monitoring sleep patterns specifically for people suffering from narcolepsy, sleep apnea as well as insomnia. Also, technologically upgraded devices including wearable smart watches, rings, sleep pads, and head belts are widely available in the market to track sleep hours and forms. Sleep tech business is developing rapidly to bring compact and accurate solutions to deliver quality sleep.

Asia Pacific Sleep Tech Devices Market

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Rising demand for efficient and portable sleep therapeutic equipment is expected to offer substantial growth opportunities for the market participants. For instance, in May 2020, Eight Sleep announced the launch of Pod Pro, a high-tech bed that provides a modified sleep experience for better health. Thus, surging investment in R&D to develop efficient, user-friendly, and effective devices will lead to future growth opportunities in sleep tech devices space.

Asia Pacific Market, By Product

The wearables segment accounted for USD 1.5 billion revenue size in 2020, as wearables are compact and can be comfortably worn by patients. These devices actively monitor a person’s day-to-day activity as well as sleep patterns to estimate factors for quality sleep.

These types of devices include smartwatches, and others that secure the segmental progression as their small form-factors enable them to carry along while traveling. Moreover, growing stress levels owing to fast-track lifestyle and rising workplace competitiveness has impacted the sleep hours of individuals, across the globe, escalating the demand for wearable sleep tech devices.

Asia Pacific Market, By Gender

Asia Pacific Sleep Tech Devices Market

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Male gender segment is estimated to expand at 17% CAGR through 2027. Several lifestyle modifications have surged the necessity for different sleep tech equipment due to increasing awareness regarding the advantages of quality sleep and well-being amongst males. In addition, trouble falling asleep and early awakening are some of the aspects that propel the overall segment expansion. 

Asia Pacific Market, By Application

The insomnia segment dominated more than 49% market share in 2020. Insomnia is most common form of sleeping illness among female and male population base across the Asia Pacific and falls into two major categories including sleep-onset insomnia and sleep maintenance insomnia. Most insomnia cases are related to consumption of substances that adversely affect sleep, depression, poor sleeping habits, mental disorders, and anxiety that further leads to higher demand for sleep tech devices.

Asia Pacific Market, By Distribution Channel

The hospitals distribution channel segment held around 14% revenue share in 2020. Availability of specialists and primary care physicians in hospital settings will propel the segment demand. Similarly, skilled workforce and sophisticated healthcare infrastructure are some of the aspects proving beneficial for the industry growth.   

Asia Pacific Market, By Country

The Indian market is predicted to witness around 19.5% CAGR till 2027. Growing attention towards mental health, rising technological advancements, and surging adoption of sleep tech wearables in India will stimulate the regional market growth. Increasing elderly population vulnerable to sleeping disorders will surge the demand for sleep tech devices.

Competitive Industry Landscape

Major leaders in the Asia Pacific sleep tech devices market include Beddit, Dodow, Dreem, Eight sleep, Fitbit, Koninklijke Philips, Oura Health, ResMed, Sleepace, Xiaomi, and others.

These industry participants have undertaken numerous strategies including new product launches and acquisitions that have helped them to gain competitive advantage over others. For instance, Fitbit introduced Ace 3, a next generation sleep and activity tracker in March 2021. This novel launch is aimed at adding young customers to its present customer base.
 

Frequently Asked Question(FAQ) :

The market for sleep tech devices in Asia Pacific reached USD 2.5 billion in 2020 and will grow at an 18.1% CAGR up to 2027.
The industry for sleep tech devices in Asia Pacific generated USD 1.5 billion revenue in 2020 and is growing as wearables are compact in size and can be worn by patients comfortably.
The adoption of sleep tech devices across the male segment in Asia Pacific could increase at over 17% CAGR through 2027 as a large number of men have trouble falling asleep which leads to lack of proper sleep.
Insomnia segment held over 49% revenue share of Asia Pacific industry in 2020 and will grow insomnia affects a majority of the population which could cause anxiety and depression.
Hospitals accounted for about 14% share of total Asia Pacific market in 2020 and will record significant gains across developing economies.
The market for sleep tech devices in India could grow at around 19.5% CAGR due to a large elderly population prone to sleeping disorders.

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