Published Date: 2021-05-08
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APAC Sleep Tech Devices Market size is poised to reach USD 8 billion by 2027, according to a latest forecast report by Graphical Research.
Rising number of elderly populations is one of the foremost factors driving the market progress in Asia Pacific. Sleep disorders are common in geriatric due alcohol consumption, changes in body and intake of certain supplements among many other factors. Similarly, older adults are prone to suffer from multiple diseases that stimulates the demand for sleep tech devices. As, these devices efficiently track the quality of sleep and sleep patterns that fosters the demand for wearables. Moreover, countries including Romania, United Kingdom and Denmark among others implement various strategies to decrease age-related health care costs.
The non-wearable segment is expected to garner over 20% CAGR through 2027. Non-wearable sleep tech devices are comprehensive and generally kept in user’s bedroom. It includes smart beds, sleep monitors, and others. These devices are equipped with advanced sensors to provide detailed biometric sleep data and automation to enable deeper, and more consistent sleep that secures the market growth.
The female segment accounted for around USD 860 million revenue in 2020. Lifestyle changes as well as rising number of pregnancies, have significantly impacted the industry growth. The demand for sleep wearables has surged among females as it widely tracks the sleeping patterns and heart rate as pregnant ladies generally suffer from insomnia that surges the market demand.
Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1784/asia-pacific-sleep-tech-devices-market
The narcolepsy segment held over 16% market share in 2020. Narcolepsy is a chronic sleep disorder that causes excessive daytime drowsiness. It is also characterized by hallucinations, sleep paralysis, and in some cases episodes of cataplexy. Narcolepsy affected people, regardless of the circumstances, often find it difficult to stay awake for long periods of time and may require wearables to track different sleep patterns.
The direct-to-consumer segment is predicted to register a higher growth rate of 17% from 2021 to 2027. Increasing awareness amongst people regarding the availability of technologically advanced sleep aid and monitoring devices on online platform will propel the segment growth. Online platform promotes sleep tech products vigorously and provide several discounts on wearable sleep tech devices that will prove beneficial for the market growth.
The China sleep tech devices market is projected to experience around 23% revenue share during the forecast period. Availability of advanced healthcare facilities in clinics and hospitals have enhanced diagnosis of sleep disorders. Presence of numerous companies along with local players delivering better and advanced sleep tech products will prove beneficial for the country growth. The older adults are is rising rapidly in the country that will eventually boost the demand for sleep tech devices.
Some of the well-known players operating in the Asia Pacific sleep tech devices market include Beddit, Dodow, Dreem, Eight sleep, Fitbit, Koninklijke Philips, Oura Health, ResMed, Sleep Shepherd, Xiaomi, and others. These companies have undertaken numerous strategies including new product launches and acquisitions that have helped them to grow as major market players. For instance, Google acquired Fitbit in January 2021. This strategic move will help Fitbit to attract larger customer base.
The APAC sleep tech devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Asia Pacific Market, By Product
Asia Pacific Market, By Gender
Asia Pacific Market, By Application
Asia Pacific Market, By Distribution Channel
The above information has been provided for the following countries:
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