Sleep Testing Services Market is projected to grow at CAGR of 13.2% over the forecast period 2019-2023

Key Players
Some of the prominent players in the global sleep testing services market are St. Luke's, Medical Service Company, Midwest Sleep Diagnostics, Inc., Sleep Services Australia, Total Sleep Holdings, Inc., GenesisCare, Carolinas Sleep Services, SleepMed, SOVA Sleep Services, SleepWorks, LLC, HomeSleep, LLC and Others.
Market Highlights
The global sleep testing services market is anticipated to hold a market value of USD 5.9 billion in the year 2017 and is expected to grow at a CAGR of 13.2% during the forecast period. Sleep testing services are used to diagnose sleep disorders by recording heart rate, breathing patterns, brain waves, eye movements, leg movements, etc.
Rising prevalence of sleep disorders, increasing awareness about sleep testing services and technological advancements related to sleep testing services are expected to drive the growth in the market over the forecast period. According to an article published in the Psychiatry Research magazine by Science Direct published in July 2018, global prevalence of restless leg syndrome (a sleep disorder) is 14.8%.  However, high costs of the sleep testing services can restrain the market growth over the assessment period.


Regional Analysis
Geographically, the Americas is expected to dominate the global market owing to the high prevalence of various sleep disorders, rising awareness about the sleep testing services. According to an article published by the National Institute of Neurological Disorders and Stroke in July 2018, 135,000 to 200,000 people in the US are affected by narcolepsy, which is a disorder that affects the sleep-wake cycle of a person. Europe is expected to hold the second largest position in the global market owing to the increasing awareness about sleep testing services. Asia-Pacific is expected to be the fastest growing market owing to the rising prevalence of sleep disorders like insomnia, restless leg syndrome, etc. Moreover, the Middle East and Africa region is expected to account for the least market share in the global market.

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