Sleep study/polysomnography is a type of test conducted to diagnose sleep disorders. Sleep study test records brain waves, oxygen level in blood, heart rate, and breathing, and eye and leg movements. A sleep study is usually conducted in a laboratory/clinic and in home care settings. A sleep study is conducted to diagnose various sleep disorder conditions such as sleep apnea, periodic limb movement disorder, narcolepsy, REM, sleep behavior disorder, unexplained chronic insomnia, and others. This study considers the revenue generated through sleep services conducted across clinics as well as in home care settings. The report also includes physician cost and out-of-pocket cost incurred by the patient. However, the report does not consider the cost of medication prescribed for the patient after diagnosis.
A sleep study is usually conducted in clinics and home care settings. In the U.S., a high cost of sleep testing is a matter of concern for patients undergoing sleep testing. As such, the sleep testing services market represent itself as one among the premium services in the healthcare sector, especially in the U.S. Thus, the overall cost of in-lab sleep testing services is substantially high in the U.S. The scenario is similar in the Australian market, as sleep testing services providers follow a similar cost pattern as the U.S. However, sleep testing services across European and Asian countries is quite affordable for patients. Hence, the sleep services market is expected to witness promising revenue growth in these regions.
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.
By sleep disease treatment monitoring, the market is sub-segmented into Obstructive Sleep Apnea, Insomnia, Restless Legs Syndrome, Circadian Rhythm Sleeping Disorders, narcolepsy, and Rapid Eye Movement (REM) sleep disorder. Obstructive sleep apnea is a highly prevalent sleep condition and accounted for major revenue share in the overall sleep disease treatment monitoring segment in 2015.
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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.
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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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