Obstructive sleep apnea (OSA), insomnia, restless legs syndrome (RLS), Circadian rhythm sleeping disorders (CRSD), Narcolepsy and rapid eye movement (REM) sleep disorder are some of the most prominent conditions in sleep disorders. Patients with these conditions require continuous monitoring during the course of treatment. The report considers revenue generated through tests conducted in clinics and home care settings during sleep disease treatment.

Statistics:

The global Sleep Testing Services Market is estimated to account for US$ 13,221.1 Mn in terms of value by the end of 2027

Global Sleep Testing Services Market: Drivers

Increasing prevalence of sleep disorders is expected to boost growth of the global sleep testing services market over the forecast period. For instance, according to a review of epidemiological studies presented in June 2019, at Sleep 2019, the annual meeting of the Associated Professional Sleep Societies in San Antonio, Texas (U.S), obstructive sleep apnea may affect around 37% of adults in North, Central and South America.

Global Sleep Testing Services Market: Opportunities

R&D in OSA is expected to offer lucrative growth opportunities for players in the market. For instance, in November 2019, researchers from Università Federico II, Italy, reported investigation of the frequency distribution of hypopneas in patients with interstitial lung disease-OSA.

Browse Research Report: https://www.coherentmarketinsights.com/market-insight/sleep-testing-services-market-3764

Global Sleep Testing Services Market: Restraints

Long waiting time for sleep services is expected to hinder growth of the market. Late diagnosis of sleep problems can lead to chronic conditions such as risk of heart failure, stroke, high blood pressure, diabetes, and obesity. Patients with sleep related disorders are likely to get affected due to longer waiting time, and clinics providing sleep testing services have limited bed capacity. For instance, according to Fraser Institute’s Waiting Your Turn: Wait Times for Health Care in Canada, 2019 Report, the waiting time in ‘from referral by a general practitioner to consultation with a specialist’ segment increased from 8.7 weeks in 2018 to 10.1 weeks in 2019. This wait time was 173% longer than in 1993, when it was 3.7 weeks.

Key Takeaways:

The Home Sleep Testing segment global sleep testing services market was valued at US$ 1,483.2 Mn in 2019 and is forecast to reach a value of US$ 4,541.7 Mn by 2027 at a CAGR of 15.0% between 2019 and 2027. Increasing prevalence of sleep disorders is expected to boost growth of the global sleep testing services market over the forecast period.

Obstructive Sleep Apnea segment held dominant position in the global sleep testing services market in 2019, accounting for 44.7% share in terms of value, followed by Insomnia, respectively. Favourable reimbursement scenario is expected to propel growth of the market during the forecasted period.
Market Trends

Sleep testing services are shifting from diagnostic testing methods to integrated care services, which involves pre-test evaluation, diagnostic testing, provision of care, follow-up, and long-term care. Growing interest of insurance providers to encourage home sleep testing over in-lab testing is expected to facilitate growth of the global sleep testing services market.

Lucrative incentive structure from private insurance providers is creating a competitive advantage among sleep testing service providers. According to CMS, global reimbursement for home sleep testing services was around US$ 205.5 for CPT Code 95800 and US$ 96.8 for CPT Code 95801. However, reduction in role of physicians in unattended home sleep testing to 26% under CPT Code 95806.

* The sample copy includes: Report Summary, Table of Contents, Segmentation, Competitive Landscape, Report Structure, Methodology.

Request a sample copy of this report: https://www.coherentmarketinsights.com/insight/request-sample/3764

Regulations

Canada Reimbursement Scenario

There is more favorable reimbursement support available for PSG sleep service as compared to home-based sleep testing services. However, increasing adoption of home-based sleep testing service are prompting private insurance providers to reduce reimbursement for in-lab PSG testing, as it is increasing financial burden on insurance providers owing to higher cost structure of in-lab sleep services.

Global Sleep Testing Services Market: Competitive Landscape

Major players operating in the global sleep testing services market include, Midwest Sleep Services Inc., SleepMed Inc., SOVA Sleep Services Inc., Medical Service Company, Sleep Services Australia, Genesis SleepCare, St. Luke’s Center of Sleep Medicine, Total Sleep Holdings Plc., and Carolinas Sleep Services.

Global Sleep Testing Services Market: Key Developments

May 2018: Medical Service Company acquired the assets of St. Vincent Home Medical and announced to start three CPAP Therapy Centers and a central distribution center. The company also launched a new division, MSC Sleep and started five centers in Ohio, New York and Kentucky.

Buy-Now this research report: https://www.coherentmarketinsights.com/insight/buy-now/3764

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:
mailto:[email protected]
U.S. Office:
Name: Mr. Shah
Coherent Market Insights 1001 4th Ave,
# 3200 Seattle, WA 98154, U.S.
US : +1-206-701-6702
UK : +44-020-8133-4027
JAPAN : +050-5539-1737