Pune, India, April 13, 2022 (GLOBE NEWSWIRE) -- The US sleep disorder clinics market size was USD 8.62 billion in 2020. The market is projected to grow from USD 9.20 billion in 2021 to USD 15.92 billion in 2028 at a CAGR of 8.2% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “US Sleep Disorder Clinics Market, 2021-2028.” Factors such as rising incidences of heart diseases & nerve disorders and increasing awareness among the general population will increase the footprint of the market during the forecast period. Additionally, the rising shift of patients toward telemedicine & home sleep testing services will fuel the growth of the market.
Industry Development
- June 2021: Marshall Medical Centers announced a partnership with Mayo Medical Laboratories for expanding its patient base by increasing access toward laboratory tests of Mayo Clinics.
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Rising Prevalence of COVID-19 & Decreased Patient Visits to Increase Market Volume
The outbreak of COVID-19 is expected to impact the growth of the market in terms of volume due to reduced patient visits and increased focus on other forms of diseases. Additionally, major surgeries were postponed toward home sleep apnea testing centers due to attained focus on curbing the spread of the virus. However, as the pandemic looms on, the market of U.S. sleep disorder clinics is expected to pave a revival due to rising reimbursement policies and the increasing number of telehealth services.
Ownership, Application, And Payor Are Studied
Based on ownership, the market is divided into independent, hospital-owned, and others.
With respect to application, the market is broken down into consultations, sleep testing, CPAP therapy, and others.
By payor, the market can be segmented across public health insurance and private health insurance/out-of-pocket.
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Report Coverage
The market for the U.S. sleep disorder clinics contains a comprehensive view by encompassing critical aspects such as growth rates and leading market players. Additionally, the report also contains future industry trends and ongoing industry development to provide the reader with an analytical view. Also, the report presents factors that are expected to affect the market in a positive/negative manner during the forecast period.
Rising Prevalence of Sleep Disorders to Augment Market Share During Forecast Period
The increasing number of patients in the U.S. associated with various sleep disorders such as obstructive sleep apnea (OSA) and insomnia among others will boost the US Sleep Disorder Clinics Market growth during the forecast period. Additionally, the rising economic burden of sleep disorders triggered the government toward improving awareness regarding these disorders. Favorable government policies and improved flow of patients in the U.S. will further fuel the growth of the market.
However, the limited number of sleep physicians will limit the growth of the US Sleep Disorder Clinics Market share during the forecast period.
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Diversified Product Portfolio & Expansion of Services to Bolster Market Share for Prominent Players
The U.S. sleep disorder clinics industry is highly shattered due to the presence of many large, mid-sized, and small clinics providing several services. The dominant players are striving to present a robust portfolio by integrating the latest generation of products to maintain the optimal level of the consumer base. For example, in September 2019, SleepMed and NovaSom announced their partnership toward combining their BioSerenity’s technology and cloud platform for offering precise diagnostic services for various obstructive sleep apnea in the U.S. Other players are focused on employing tactics such as mergers & acquisitions, improved product launches, and rising activities among R&D. Additionally, players are also focused on expanding the number of laboratories in every region to make access to products & services readily available.
List of Key Players Present in the Market
- SleepMed (Columbia, U.S.)
- Koala (Kansas City, U.S.)
- Marshall Medical Centers (Boaz, U.S.)
- UAB Health System (Birmingham, U.S.)
- The Health Care Authority of the City of Anniston (Alabama, U.S.)
- Grand View Health Clinics (Pennsylvania, U.S.)
- AU Health (Georgia, U.S.)
- Graymark Healthcare, Inc. (Oklahoma, U.S.)
- Clark Memorial Health (Indiana, U.S.)
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Table Of Contents :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Prevalence of Key Sleep Disorders, U.S., 2020
- Number of Sleep Technicians, 2020
- Number of Sleep Clinics, 2020
- Average cost of Key Services in the U.S., 2020
- Reimbursement & Regulatory Overview
- Impact of COVID-19 on the U.S. Sleep Disorder Clinics Market
- Key Industry Developments – Mergers, Acquisitions, Etc.
- US Sleep Disorder Clinics Market Analysis, Insights and Forecast, 2017-2028
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- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Ownership
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- Independent
- Hospital-owned
- Others
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- Market Analysis, Insights and Forecast – By Application
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- Consultations
- Sleep Testing
- CPAP Therapy
- Others
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- Market Analysis, Insights and Forecast – By Payor
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- Public Health Insurance
- Private Health Insurance/ Out-of-pocket
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- Competitive Analysis
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- Key Industry Developments
- U.S. Market Share Analysis (2020)
- Company Profiles (Overview, Services, Recent Developments, Strategies, financials (Based on Availability))
- SleepMed
- Koala
- Marshall Medical Centers
- UAB Health System
- The Health Care Authority of the City of Anniston
- Grand View Health
- AU Health
- Graymark Healthcare, Inc.
- Clark Memorial Health
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