The Global Sleep Aids Market contributed for nearly $49.54 billion in 2016, and is expected to reach $79.85 billion by 2023, growing at a CAGR of 7.0% from 2017 to 2023. North America contributed the highest revenue in the sleep aids market; however, Asia-Pacific accounted for the fastest growth rate in 2016.
Change in lifestyle preferences, stressful and hectic work conditions, and other issues interfering with the interruption in sleep habits, increase in the disposable income, and increase in awareness regarding the harmful effects of sleep disorder on the health would drive the growth of sleep aids market. The risk of sleep disorder enhances as the age and obesity increases, so the increase in geriatric and obese population could raise the prevalence of sleep disorders, which in turn, drive the market growth. The surge in demand for sleep aids led to the advancements of the technology, which will present new avenues in the market. However, the adverse effects related to sleep drugs on human health and expiration of patents would impact the market growth.
Get Sample Report @ https://www.alliedmarketresearch.com/request-sample/1533
The mattress & pillows segment contributed the largest market share in 2016, and will maintain its dominance throughout the forecast period. Availability of different products, rise in awareness regarding the benefits of quality sleep, and advancement in technologies facilitate the growth for this segment. Insomnia contributes the largest share in the sleep aids market and will maintain its highest contribution throughout the forecast period, owing to the presence of huge population suffering from insomnia.
In 2015, North America held the largest market share, accounting for the highest market share, owing to the increase in prevalence of sleep disorders, high disposable income of people residing in the region, and high rate of adoption for technologically advanced products. However, Asia-Pacific would experience the highest CAGR during the study period, owing to increase in disposable income, rise in government initiatives to modernize the current healthcare infrastructure, and surge in healthcare expenditure.
Key Findings of the Sleep Aids Market:
- The sleep laboratories segment is expected to register the highest growth rate during the forecast period.
- The insomnia segment contributed the highest revenue and will maintain its dominance by 2023.
- North America held the major market share of the global sleep aids market, and is expected to grow at a CAGR of 6.6% during the forecast period.
- China would grow at the highest CAGR of 10.8% in the Asia-Pacific region during the forecast period.
- The narcolepsy segment is expected to witness at the highest growth rate, with a CAGR of 9.1% from 2017 to 2023.
The key companies analyzed in the report include Koninklijke Philips N.V., Sanofi, Merck & Co., Pfizer Inc., DeVilbiss Healthcare LLC., Cadwell Laboratories Inc., SleepMed Inc., Natus Medical Incorporated, Compumedics Limited, and GlaxoSmithKline plc.
Purchase Inquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/1533
Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060