Sleep aids are just any natural herbs or drugs that will help a person sleep better. There are some sleep aids that are designed to treat severe insomnia, but there are also a number of ones that are used for those who simply need help with getting to sleep at night. Some change the normal body rhythms of the human body so that a person may feel completely sleepy or even out of breath when they wake up. Sleep is one of the chief aspects of good health and is a crucial part of how the body heals itself after a day’s activities. It is an important tool in how to live a longer life span and may even be able to slow the aging process down.
It should be noted that there are some sleep aids that carry with them some fairly significant risks of side effects. These include things such as lower blood pressure and heart rate, and can lead to problems while you are taking the medication or after you stop taking it. Many of these side effects occur because of some of the ingredients that are contained within the medication. There are some herbs and other natural substances that are known to have a higher risk of causing side effects, and these are usually not included with prescription medications.
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.
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Recent Developments
Major players in the global sleep aids market are focused on launching new products to expand their product portfolio. For instance, in January 2020, ResMed Inc. launched AirFit F30i, its first tube-up full face CPAP mask.
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 May 2020, ResMed Inc. launched ResMed MaskSelector, a digital tool for remote CPAP mask fittings.
Moreover, R&D in pharmaceuticals for a sleep-related indications is also expected to aid in growth of the market. For instance, in May 2020, Therapix Biosciences Ltd. closed a joint venture transaction for collaboration in the field of developing pharmaceuticals for a sleep-related indication.
Market Trends:
Major players in the global sleep aids market are focused on R&D to expand their product portfolio. For instance, in November 2019, Therapix Biosciences Ltd. announced topline results from its Phase IIa clinical study that demonstrated positive endpoints for THX-110, a combination of dronabinol (? -9-tetrahydracannabinol and CannAmide (palmitoylethanolamide), for treatment of obstructive sleep apnea.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, owing to increasing adoption of sleep apps. For instance, in May 2020, Kaiser Permanente Corporate Office Headquarters announced it has added Calm, an app for mindfulness meditation and sleep, to its digital self-care portfolio.
Asia Pacific is expected to witness significant growth in the global sleep aids market, owing to increasing geriatric population. For instance, according to The United Nations Economic and Social Commission for Asia and the Pacific, over a third of the population in Asia Pacific is expected to be 60 years or older by 2050.
Insomnia held dominant position in the global sleep aids market in 2019, accounting for 30.1% share in terms of value, followed by sleep apnea and restless legs syndrome, respectively. According to the study, ‘Prevalence of Sleep Disturbance and Hypnotic Medication Use in Relation to Sociodemographic Factors in the General Japanese Adult Population’ published in 2020, in the Journal of Epidemiology, prevalences of insomnia (INS), difficulty initiating sleep (DIS), difficulty maintaining sleep (DMS), poor perceived quality of sleep (PQS), and hypnotic medication use (HMU) were 17.3%, 8.6%, 12.9%, 17.8%, and 3.5% in males and 21.5%, 12.6%, 16.2%, 20.2% and 5.4% in females.
Global Sleep Aids Market: Restraints
Product recalls are expected to hinder growth of the global sleep aids 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.
Global Sleep Aids Market: Competitive Landscape
Major players operating in the global sleep aids market include, Cadwell Laboratories, Inc., Compumedics Limited, DeVilbiss Healthcare LLC, GlaxoSmithKline Plc, Koninklijke Philips N.V., Merck & Co., Inc., Natus Medical Incorporated, Pfizer, Inc., ResMed Inc., Sanofi S.A.,Sommetrics, Inc., SleepMed, Inc., Therapix Biosciences Ltd.
Global Sleep Aids Market: Key Developments
Major players in the global sleep aids market are focused on launching new products to expand their product portfolio. For instance, in May 2020, Sommetrics, Inc., a provider of products for the treatment of airway obstruction during sleep and in acute care settings, announced that its quality management system has been certified to the rigorous ISO 13485:2016 standard.
Global Sleep Aids Market: 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
Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Sleep Disorder
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Developments
- Technological Advancement
- Regulatory Scenario
- Market Dynamics
- Global Sleep Aids Market, By Product Type, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2019–2027
- Segment Trends
- Medication
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Sleep laboratories
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Mattresses and pillows
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Sleep apnea devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Introduction
- Global Sleep Aids Market, By Sleep Disorder, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2019–2027
- Segment Trends
- Insomnia
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Sleep apnea
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Restless legs syndrome
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Narcolepsy
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Night terrors
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Introduction
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