Sleep Tech Devices Market Size, Share, Growth Analysis, By Product(Wearable (Smart Watches & Bands, and Others), Non-Wearable (Sleep monitors, Beds), By Occupational(Healthcare Professionals, IT & Tech Workers, Students, Others), By Age Group(20-39 years, 40-59 years, 60+ years), By Application(Insomnia, Obstructive Sleep Apnea, Narcolepsy, Others), By End User(Hospital, Home-care Settings, Others), By Distribution Channel(Online Channel, Offline Channel), By Region - Industry Forecast 2024-2031

North America held the largest share of revenues in 2023 which was around 35.9%. The region has generated revenue around 8 billion in 2023 and estimated to be grow at the CAGR of 18%. A high level of chronic stress and the intense pace of life in the United States play a significant role in insomnia. Approximately 30% of adults suffer from short-term insomnia signs while 1 in 10 is affected by chronic insomnia, the NIH reports. This has led to a large number of people in this generation seeking for solutions to their sleepless nights in the form of sleep tech devices that are easy to access and use. Overall, the region is expected to hold its dominating position in the coming years. 

On the other hands, the Asia-Pacific region is experiencing rapid growth with the fastest growing CAGR at 19. In 2023, the region held around 25.8% within the global sleep tech devices market. The dominance of this region is attributed to the increase in income per capita, people’s awareness, and urbanization. The sleep technologies are experiencing high demand in countries such as China and India because of the rising cases of sleeping disorders and the increasing middle-class population willing and able to spend on health and fitness. The Asia Pacific market progresses as government endeavours are directed towards enhancing its healthcare facilities, as well as increasing awareness of digital solutions.