MarketResearchNest.com adds “Global Sleeping Aids Market 2017-2021” new reports to its research database. The report spread across 101 pages with tables and figures in it.
The analysts forecast the global sleeping aids market to grow at a CAGR of 5.82% during the period 2017-2021.
Sleeping aids are defined as products or devices used to facilitate sleep in individuals with various sleep disorders. Sleeping aids include pressure-relief mattresses, sleep apnea devices, and drugs. A good sleep can be defined as one without any interruption, allowing the body to undergo its natural sleep cycle. Quality of sleep can be affected by factors such as the duration of sleep, time taken to fall asleep, food or alcohol consumption prior to sleep, tossing and turning, nightmares, or any other disturbance that results in interrupted sleep. Sleep disorders can be of different types and affect a large number of people. Some are caused by environmental and residential influences, while others are caused by physical or hereditary factors. All disorders leading to sleep deficiency can result in the same risks.
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Technavio recognizes the following companies as the key players in the global sleeping aids market: GlaxoSmithKline, Hill-Rom, Koninklijke Philips, and Merck
Other Prominent Vendors in the market are: Abecca Healthcare, Becton Dickinson, Betterlifehealthcare, Cadwell Laboratories, Compumedics, Lifeline Corporation, Medical Depot, Natus Medical, Pfizer, Talley Group, and Teva Pharmaceuticals.
Commenting on the report, an analyst team said: “The latest trend gaining momentum in the market is Use of the Internet to create awareness. The emergence of the Internet allows consumers to glance through and request from a range of products and services offered by the vendors through their online websites and portals. The Internet has made it easy for the patients to get information on new and improved products and compare a product with its competitors before making the final purchase decision. The use of the Internet also aids in brand retention and visibility. The capacity of vendors to showcase their services online allows them to capture a large market share and helps in higher revenue generation.”
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According to the report, one of the major drivers for this market is Increasing technological innovations in CPAP devices. Technological innovations have resulted in the development of improved CPAP devices as per the end-user requirements. Vendors are focusing on R&D activities to design and develop innovative CPAP devices and accessories. Technological advances have led to the development of lightweight interface masks with soft sealing flange and fewer accessories that are easy to use and more adaptable to different face geometries. These masks will improve the usability of CPAP devices. The integration of IT data systems with CPAP and associated monitoring devices helps in improving therapy for sleep-disordered breathing by reducing cost and time. For instance, the last two series of full-face masks by Hans Rudolph have all the features to address the latest market demands globally. Also, the latest CPAP devices by ResMed include the integrated humidification with wireless connectivity so that medical equipment providers for home-care and other healthcare providers receive regular reports on patients’ progress.
Further, the report states that one of the major factors hindering the growth of this market is High cost of products. Pressure-relief mattresses and CPAP devices are some of the products used for the treatment of sleeping disorders such as sleep apnea. Pressure-relief mattresses are considered a lifestyle product and are not purchased frequently. On an average, a pressure-relief mattress will cost anywhere between $530 to $4,000, depending on the type and features of the product. Unlike other lifestyle products, pressure-relief mattresses do not require regular maintenance or service to ensure optimal performance and functioning. Given, the relatively long life and the high price of these mattresses, the chances of repurchase by customers are reduced considerably. As product lifespans are also dependent on the advances of parallel product features, they become obsolete after the introduction of new products in the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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