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Sleep Aids Market Share Expand To US$ 118,825.4 Million By Top Manufacturers, Latest Technologies, Segments Overview, Future Trends, Growth Opportunity and Forthcoming Developments

June 30th, 2020 Coherent Market Insights Releases

Adequate sleep is essential to maintain mental and physical health and wellbeing. Lack of quality sleep causes sleep disorder. Sleep disorder is caused by changes in sleeping pattern of a person due to physical disturbances, medical issues, psychiatric problems, and environmental issues. Sleep disorders adversely affect human health and, in turn, drive demand for sleep aids.

The global sleep aids market is estimated to account for US$ 80,814.7 Mn in terms of value and is expected to reach US$ 118,825.4 Mn by the end of 2027.

Global Sleep Aids Market: Drivers

Approval and launch of new products is expected to propel growth of the global sleep aids market over the forecast period. For instance, in March 2020, Somnus, a U.S.-based company, launched SOMNUS, an all-natural alternative sleep-aid that does not contain THC, alcohol, or melatonin.

Note: *The Download PDF brochure only consists of Table of Content, Research Framework, and Research Methodology.

Request PDF Research Report Brochure @ https://www.coherentmarketinsights.com/insight/request-pdf/1059

Global Sleep Aids Market: Opportunities

R&D in sleep disorders is expected to offer lucrative growth opportunities for players in the global sleep aids market. For instance, in April 2020, researchers from University of Regina, Canada, reported investigating the relationship between public safety personnel occupation, sleep problems, and various mental disorder symptoms.

Global Sleep Aids Market: Restraints

Product recalls are expected to hinder growth of the market. For instance, in December 2019, Health Canada announced to recall a variety of U-Dream herbal sleep aids due to presence of a substance similar to zopiclone, which has side effects that include drowsiness, dizziness, memory loss, hallucinations and sleep driving.

Key Takeaways:

The global sleep aids market was valued at US$ 80,814.7 Mn in 2019 and is forecast to reach a value of US$ 118,825.4 Mn by 2027 at a CAGR of 5.7% between 2020 and 2027. Major factor driving the growth of global sleep aids market during the forecast period include increasing prevalence of sleep disorders, and increasing product launches.

Insomnia held dominant position in the global sleep aids market in 2019, accounting for 30.1% share in terms of value, followed by sleep apnoea and restless legs syndrome, respectively. Rapid entry of new players and new devices for insomnia has propelled the market. FDA approved new device Cerêve Sleep System for insomnia in 2016 this device is used to reduce latency to stage 1 and stage 2 sleep by keeping the forehead cool.

Access research reports that are tailored specifically for you and your organization in order to explore practical growth strategies and recommendations
Buy-Now this Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/1059

Market Trends

The Americas as witnessing high prevalence of sleep disorders. For instance, according to a study by ResMed Inc. presented at the annual SLEEP meeting hosted by the American Academy of Sleep Medicine (AASM) and the Sleep Research Society in June 2019, around 170 million people across North and South America have sleep apnea.

Major players in the market are focused on donating products during the Covid-19 pandemic. For instance, in May 2020, Sommetrics, Inc. and its partially owned affiliate, aerFree, LLC announced the donation of their aerFree product to leading academic centers to assist in the management of COVID-19 respiratory impairment.

Global Sleep Aids Market: Competitive Landscape   

Major players operating in the global sleep aids market include, Sanofi S.A., Merck & Co., Inc., Pfizer, Inc., Koninklijke Philips N.V., GlaxoSmithKline Plc, Sommetrics, Inc., ResMed Inc.,  Cadwell Laboratories, Inc., Therapix Biosciences Ltd., SleepMed, Inc., Natus Medical Incorporated, DeVilbiss Healthcare LLC, and Compumedics Limited.

Browse Press Release: https://www.coherentmarketinsights.com/press-release/sleep-aids-market-3203

Global Sleep Aids Market: Key Developments

May 2020: Therapix Biosciences Ltd. closed a joint venture transaction for collaboration in the field of developing pharmaceuticals for a sleep-related indication

May 2020: ResMed Inc. launched ResMed MaskSelector, a digital tool for remote CPAP mask fittings

Segmentation

  • By Product Type
    • Medication
    • Sleep laboratories
    • Mattresses and pillows
    • Sleep apnea devices
    • Others
  • By Sleep Disorder
    • Insomnia
    • Sleep apnoea
    • Restless legs syndrome
    • Narcolepsy
    • Night terrors
    • Others
  • By Region
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East
    • Africa

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

To know more about us, please visit our website – www.coherentmarketinsights.com

Contact:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

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