Developers and manufacturers should work together to augment growth opportunities, finds Frost & Sullivan
SANTA CLARA, California, Oct. 12, 2017 /PRNewswire/ — The current sleep tech market is flooded with devices, sensors, wearables, and mobile applications that collect sleep data along with other physiological and lifestyle parameters. However, from a consumer standpoint, data collection is irrelevant if there is no action or direction that positively impacts sleep quality. Consumers today want the “so what” of their sleep and lifestyle data so they can make better choices and take control of their health. They would also like sleep solutions to intuitively and actively respond in real-time to physiological and environmental parameters, and create a better sleep atmosphere by adjusting air quality, room sounds, mattress firmness, among other comforts.
Frost & Sullivan’s analysis, Digital Health Sleep Technology Market—Companies-to-Action, 2017, profiles innovative vendors across diverse domains within sleep technology to highlight the most recent and successful and high-potential companies. Global trends, customer needs, growth opportunities, vendor ecosystems, strategies, and key success factors are also discussed. Vendor profiles include Beddit, Oura Health, Holi, Rem-Fit (Protect-A-Bed), Resmed Inc., Sleep Score Labs, Responsive Surface Technology, LLC, Select Comfort Corporation, Somnoware, and Nokia (Withings). This research is part of Digital Health Companies-To-Action Series which cover the following strategic markets: data analytics, oncology precision medicine, maternal care, information & communication technologies, and wellness technologies.
“Wearable, easy-to-use and affordable health and wellness devices increase the patient’s knowledge level and enhance the conversations with their physicians, thereby improving consumer engagement in their health. With increasing awareness of the importance of sleep in achieving better health, patients want to be in control of their sleep quality and related activities,” said Digital Health Analyst Natasha Gulati. “In the future, artificial intelligence (AI) systems will be the new partner for consumers. Amazon Alexa’s features can become an extended part of the patient care teams—both as an interface and as a proactive partner focused on health, wellness, home, diet, lifestyle, and sleep.”
A mobile application experience with sleep technology can bring a range of different approaches and data experiences, based entirely on a user’s preference in how they choose to interact with their data and insights. The main target for developers and manufacturers is to broaden their ability to work together as much as possible. Users actively leverage different applications for alternative purposes within their own platform experience, requiring retention of flexible options.
Further strategic imperatives for success and growth in the dynamic digital health sleep technology market include:
- Providing open platform flexibility, with smartphone or connected home-based platform integration to accommodate technology such as AI;
- Improving sleep as a top priority to answer the “so what” of data collection and what it specifically means to digital healthcare consumers;
- Integrating sleep device data with provider health IT systems, such as electronic health records (EHR), to better help support patient and population health interests as well as new technologies such as voice and AI to make solutions more intuitive and engaging;
- Leveraging crowdfunding through platforms such as Kickstarter and Indie GoGo to improve top- and bottom-line growth and sales volumes;
- Expanding platforms and integrating various health and home devices so that meaningful data analytics and actions can be provided to consumers to enhance their sleep; and
- Improving accuracy and trail work by leveraging consumer-focused sleep devices/data to encourage uptake.
“The next step to answering the ‘so what’ for consumers will be to integrate EHR data, such that sleep data can be used more comprehensively for health management,” noted Gulati. “What consumers really need are personalized feedback loops that empower them to make day-to-day and long-term decisions with the visibility of their impact on sleep and general health.”
Digital Health Sleep Technology Market—Companies-to-Action, 2017 is part of Frost & Sullivan’s Digital Health Growth Partnership Service program.
Original Source: PRNewswire