Sleep Market Size to Reach Revenues of USD 137.16 Billion by 2026 - Arizton
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Sleep Market – Segmentation
Sleep Market by Product Type
Sleep Market by Indication
Sleep Market – Dynamics
AI or artificial intelligence is penetrating almost every market as it is an extremely useful and assistive tool that can be customized easily based on the need. AI, along with machine learning and deep learning system, can help in the automation of processes while optimizing and increasing their efficiency and reducing errors. It can help in increasing the pace of diagnosis, thus increasing the pace of treatment. It can minimize or irradicate unnecessary tasks in healthcare such as documentation, administrative work, which surprisingly takes a significant time from the physician's schedule. To diagnose sleep disorders, researchers use polysomnography, actigraphy, and electroencephalography to analyze brain activity during sleep. All these technologies create a huge amount of data which include patient sleep patterns and brain activity during sleep, which helps in diagnosing sleep disorders. AI can optimize these processes and help researchers and physicians to perform better.
Key Drivers and Trends fueling Market Growth:
Sleep Market – Geography
North America acquired a market share of 33.26% in the global sleep market in 2020. The US and Canada are the major markets in the region. The US sleep market held a dominating market share of 90.20% in 2020. This is also expected to continue during the forecast period. The leading position in the global sleep market is attributable to factors such as high incidence and prevalence rate of chronic sleep disorders, urban and fast-paced lifestyle, a high percentage of obese population, and increasing geriatric population. The growing prevalence rate of sleeping disorders is also being attributed to the growing prevalence of underlying disorders such as Parkinson's disease, type 2 diabetes, and COPD, among others. The US and Canada majorly rely on the usage of medications (hard solutions) rather than sleep aid devices (soft solutions). The medications market in North America was valued at $ 2.19 billion in 2020.
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Sleep Market by Geography
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