The sleep testing services market is expected to be valued at US$ 8,395.7 Mn by the end of 2021, reflecting a CAGR of 12.9% during the forecast period (2016–2021). Full polysomnography sleep testing has strong penetration in in-lab sleep testing services owing to the reliable outcome and diversified scope in terms of disease diagnosis. Moreover, the ready availability of reimbursement and higher awareness level of PSG tests positively impacted the growth of full polysomnography testing segment in 2015. Reimbursement policies are playing a vital role in sleep disease diagnosis, and are also responsible for the commercial success of home-based sleep testing solutions. Preference in the leading market of North America is shifting from laboratory-based sleep testing services to home sleep testing services owing to lower cost and easy availability of services.
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On the basis of service type, the sleep testing services market is segmented into diagnostic services and treatment monitoring. Diagnostic sleep testing services is segmented into in-lab sleep testing and home sleep testing. In-lab sleep testing services segment is further sub-segmented into electroencephalogram, full polysomnography, CPAP/BiPAP Titration, Multiple Sleep Latency Test (MSLT), and maintenance of wakefulness test (MWT). In-lab sleep testing services accounted for largest revenue share in 2015 owing to higher adoption rate and premium pricing of services. Moreover, growing prevalence of sleep disorders and favorable reimbursement policies, as well as cover by private insurance services providers, are factors expected to fuel the growth of the global home sleep testing services market during the forecast period.
On the basis of the end user, the sleep testing services market is segmented into Hospitals, Sleep Centers, and Home Care Settings. Home Care setting segment is expected to create robust growth opportunities owing to lower cost and easy availability. However, in-lab sleep testing services segment is expected to remain dominant throughout the forecast period.
By region, the global sleep testing services market is segmented into North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. Europe and Asia Pacific regions are expected to exhibit strong growth potential owing to the availability of large patient pool and growing awareness regarding home based sleep testing. Moreover, medical tourism countries of Asia are expected benefit significantly by offering low-cost sleep services. Hence, these regions are expected to witness promising revenue growth from sleep services during the forecast period.
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Some of the key sleep clinics profiled in the report are Midwest Sleep Services Inc., SleepMed Inc., SOVA Sleep Services Inc., Medical Service Company, Sleep Services Australia, Genesis SleepCare, St. Luke’s Center of Sleep Medicine, Total Sleep Holdings Plc., and Carolinas Sleep Services.
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