Global Sleep Testing Services Market: Overview
Sleep testing service is medical test used to recognize and diagnose sleeping disorders. This test records oxygen level in blood, breathing, movements of leg and eye, brain waves, and heart rate. The study is carried out in some clinics and home care settings to gain monetary assistance. Sleep testing service is used to diagnose several disorders such as unexplained chronic insomnia, REM, sleep apnea, narcolepsy, sleep behavior disorder, periodic limb movement disorder, and others. Sleep testing services are predominant in the healthcare industry. For instance, a Toronto-based company BresoTec Inc. developed BresoDxTM, the first innovative product for diagnosis of sleep apnea by using SoundTrac technology and movement recording.
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Global Sleep Testing Services Market: Growth Factors
Sleep testing services are heavily adopted by people, which is expected to fuel the market growth in future. However, encouraging reimbursement policies is also contributing to the global market growth. Increasing occurrences of sleep disorders is another factor positively impacting the global market growth. Moreover, private insurance service providers also enhance the market growth in a positive way. However, the high cost required to set up sleep testing services is the restraining factor for the growth of the market.
Global Sleep Testing Services Market: Segmentation
The global sleep testing services market is segmented on the basis of end-use applications as home care settings, hospitals, clinics, sleep centers and others. Of this, clinics segment is the leading segment in the sleep testing services market. Based on service type, the global market is divided into treatment monitoring and diagnostic services. The diagnostic services for sleep testing segment are further sub-segmented as home sleep testing and in-lab sleep testing. Of this, in-lab sleep testing segment grabs the largest market chunk. Furthermore, in-lab sleep testing services segment is bifurcated into CPAP/BiPAP titration, electroencephalogram, maintenance of wakefulness test (MWT), full polysomnography, and multiple sleep latency tests (MSLT). The treatment monitoring segment is further is segmented as eye movement (REM) sleep disorder, obstructive sleep apnea, circadian rhythm sleeping disorders, restless legs syndrome, narcolepsy, rapid and insomnia. Of these obstructive sleep apnea is the dominating segment in the market.
Global Sleep Testing Services Market: Regional Analysis
Europe is the leading region in the global sleep testing services market; it accounted for the largest market share. This trend is followed by Asia Pacific, where sleep testing services are quite affordable by the people; hence it is expected to boost the global market growth in the near future in this region. However, the similar scenario can be seen in the Australian market where same cost pattern is followed as the U.S.; this is anticipated to sluggish growth in the sleep testing services market in the near future.
Global Sleep Testing Services Market: Competitive Players
Some of the key players in the global sleep testing services market are St. Luke’s Center of Sleep Medicine, Medical Service Company, Midwest Sleep Services Inc., Sleep Services Australia, Total Sleep Holdings Plc., Genesis SleepCare, Carolinas Sleep Services, SleepMed Inc., and SOVA Sleep Services Inc.