Pune, India, May 18, 2023 (GLOBE NEWSWIRE) — Fortune Business Insights said the global US Sleep Disorder Clinics Market size was valued at USD 8.62 billion in 2020 and is projected to grow from USD 9.20 billion in 2021 to USD 15.92 billion by 2028, exhibiting a CAGR of 8.2% during the forecast period. The market’s expansion during the projected period will be driven by various factors, including the growing prevalence of heart diseases and nerve disorders and the heightened awareness among the general population. Fortune Business Insights presents this information in its report titled “US Sleep Disorder Clinics Market Forecast, 2021-2028”.
Key Industry Development:
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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Key Takeaways:
- Over 80 various disorders, such as insomnia, sleep apnea, restless leg syndrome, and others, have been documented worldwide.
- A 2020 study conducted by the American Sleep Association found that approximately 50 to 70 million adults in the United States were affected by multiple disorders.
- The market share is divided among different types of ownership, including independent, hospital-owned, and others.
- In 2020, SleepMed and Graymark Healthcare, Inc., were prominent players who held a significant market share.
Discover the Leading Players Featured in the Report:
“Companies leading the US Sleep Disorder Clinics Market are SleepMed (Columbia, US), Koala (Kansas City, US), Marshall Medical Centers (Boaz, US), UAB Health System (Birmingham, US), The Health Care Authority of the City of Anniston (Alabama, US), Grand View Health Clinics (Pennsylvania, US), AU Health (Georgia, US), Graymark Healthcare, Inc. (Oklahoma, US), Clark Memorial Health (Indiana, US)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 8.2% |
| 2028 Value Projection | USD 15.92 billion |
| Base Year | 2020 |
| Market Size in 2021 | USD 9.20 billion |
| Historical Data | 2017-2019 |
| No. of Pages | 73 |
| Segments covered | By Ownership, Application, and Payor |
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Driving factor:
The market share of the US sleep disorder clinics market is expected to increase during the forecast period due to the rising prevalence of sleep disorders such as obstructive sleep apnea (OSA) and insomnia among patients. This growth is attributed to the increasing economic burden caused by sleep disorders, prompting the government to enhance awareness about these conditions. Favorable government policies and a higher influx of patients in the US will contribute to further market growth.
However, the limited availability of sleep physicians will serve as a constraint, limiting the expansion of the market share of US sleep disorder clinics throughout the forecast period.
Segmentation:
By Ownership
- Independent
- Hospital-owned
- Others (Physician-owned)
By Application
- Consultations
- Sleep Testing
- CPAP Therapy
- Others
By Payor
- Public Health Insurance
- Private Health Insurance/Out-of-pocket
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Competitive Landscape
Prominent players in the US sleep disorder clinics market industry are expected to strengthen their market share through a diversified product portfolio and expanded services. The industry is characterized by the presence of numerous clinics, varying in size, that offer a range of services. To maintain a strong consumer base, dominant players are actively incorporating the latest generation of products into their portfolios. For instance, in September 2019, SleepMed and NovaSom partnered to combine BioSerenity’s technology and cloud platform, providing precise diagnostic services for various obstructive sleep apnea cases in the US Other players are employing strategies such as mergers and acquisitions, enhanced product launches, and increased research and development activities. Furthermore, these players are focused on expanding the number of laboratories in each region to ensure readily available access to their products and services.
FAQs:
How big is the US Sleep Disorder Clinics Market?
In 2020, the market size of the US sleep disorder clinics was recorded at USD 8.62 billion. It is estimated to witness growth from USD 9.20 billion in 2021 to USD 15.92 billion in 2028, with a compound annual growth rate (CAGR) of 8.2% during the period from 2021 to 2028.
How many sleep clinics are there in the United States?
SleepMed owns around 120 labs and has a strong direct presence across 13 states in the US, Whereas Graymark Healthcare, Inc. has a robust operating network across eight states in the US
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