As we dive headfirst into 2024, exciting trends are emerging across the sleep, travel and respiratory markets, presenting unique opportunities for education and reaching new customers. Capitalising on these trends could help you reach new customers and grow your business this year.
Increased Emphasis on Sleep Hygiene: This year, we’re witnessing a surge in interest towards sleep hygiene. This trend underscores a growing awareness of the importance of quality sleep and its impact on overall health. This is an ideal space to discuss CPAP and how to spot if poor sleep is from too much screen time, or undiagnosed sleep apnoea.
Growth in Sleep Retreats: Sleep tourism is still going strong into 2024, offering unique opportunities for businesses in the sleep tech space. Sleep tourism and sleep retreats are gaining popularity. They focus on providing restful and rejuvenating experiences, catering to the increasing demand for wellness-focused getaways, and are an exciting market for products to make their way onto the sleep tourism menu.
Booming Sleep Tech Industry: The market for sleep technology is expanding rapidly. Consumers are actively seeking devices and apps to enhance their sleep quality, delving into the realm of‘bio-hacking’ for better sleep.
Social Media Influence on Sleep Trends: Platforms like TikTok are driving consumer interest in sleep health, particularly in circadian rhythms and sleep hygiene. Influencers are playing a significant role in this space, as seen with the rise in searches for“Huberman sleep”(combined 294 million views in 2023), mouth taping, and the popularity of related content on TikTok.
Devices such as AYO fit well into this segment by combining sleep hygiene, circadian rhythm, and sleep tech trends. Take a listen to this recent podcast with AYO founder Alex Dimitrov and Wellness Mama Katie.
Travel and Sleep
Near-Full Recovery of International Tourism: The UNWTO reports that international tourism is nearing pre-pandemic levels and is expected to fully recover in 2024, signalling a robust rebound in the travel sector. This opens up the market for CPAP users looking for travel-friendly alternatives.
Australian Travel Preferences: With a 60% of Australians planning international travel and 90% planning domestic trips, we anticipate a notable increase in consumer desire for sleep and travel solutions such as the M1 Mini CPAP, Bongo and EmeTerm Anti-Nausea Band.
Expansion of Cruise Demographics: The cruise industry is experiencing an expansion in its customer base, now attracting a wider range of generations beyond the traditional baby boomer segment – resulting in an even broader market!
Alarming Increase in Asthma-Related Mortality: Asthma deaths in Australia saw a concerning rise in 2023, and this trend highlights the need for better asthma awareness and management strategies.
Challenges in Asthma Control Among Younger Populations: Statistics reveal that a significant portion of the younger population struggles with poorly controlled asthma, emphasising the need for improved healthcare interventions.
Positive Action: Asthma Australia’s mission is to halve avoidable asthma hospitalisations by 2030 which highlights the critical need for improved asthma care and proactive prevention strategies. We are dedicated to supporting this goal, by expanding the presence of the Smart Peak Flow and POWERbreathe devices in the Australian market. The aim is to empower people to take control of their asthma management and enhance their quality of life.
Breath Training: The Australian market for breath trainer devices is anticipated to experience substantial growth, fuelled by a heightened awareness of respiratory health and the advantages of breath work for stress relief and overall wellbeing. This expanding market is likely to attract a diverse consumer base, from athletes seeking to enhance performance to those managing respiratory conditions and hoping to improve their general health. POWERbreathe is perfectly positioned to serve this growing market.