The report segments and analyzes the global sleep aids market based on four parameters: products, type of sleep disorder, medications and geography. Products are further sub-divided into sleep apnea devices, sleep laboratories, medications, and mattresses and pillows. Geographically, the report segregates the market into Europe, North America, Asia Pacific, Latin America, and Middle East and Africa. Of them, North America is the dominant market, with U.S. clocking maximum revenue through sales of sleeping aids. Next in terms of market share are Europe, Asia Pacific, Latin America and Middle East and Africa (MEA). The report analyzes the markets in detail, including their growth drivers and restraints.
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There are a number of factors driving demand in the global sleeping aids market. Prominent among them is a growing elderly population and a sleep-deprived stressed workforce. Lifestyle changes among people owing to socio-economic factors also affect sleep and push buying of sleeping aids. There are restraining factors too, thwarting market growth. Fearing side effects, for example, a sizeable chunk of population suffering from sleeping disorder avoids sleeping pills or aids. Patent expiration of a number of sleeping drugs also hurts their manufacturers’ revenue as they can no longer command a premium on their products. This, in effect, shrinks overall market revenue as the vast number of generic drugs available in the market now are very cheap.
The report analyzes the current market trends like increasing popularity of prescriptions and over-the-counter medication, increasing availability of sleeping aids over the past decade, and emergence of accessories such as sound machines, herbal supplements, and aromatherapy candles. When it comes to the sleeping aids market, pillows and mattresses are the main products. Their growth rate, however, pales in comparison to that of sleep laboratories that facilitate sleep testing of people suffering from sleeping disorders. Such laboratories map movements during sleep, sleep disturbances, and sleeping behaviors before embarking on therapies.
The report also furnishes a six-year forecast on how the market would grow based on current trends. Further, it provides a peek into recent technological developments and innovations in the sleeping aids market and includes a review of micro and macro factors supporting existing market players and new entrants along with a detailed analysis of the value chain. It leverages Porter’s five force model and SWOT analysis to better understand the competitive dynamics in the market. Some of the main players in the market are: Sanofi, Merck & Co., Pfizer, GlaxoSmithKline Plc, Koninklijke Philips N.V. (Philips), Care Fusion Corporation, and Natus Medical Incorporated.
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