Polaris Market Research recently published a research report on “Sleeping Aids Market Share, Size, Trends, Industry Analysis Report, By Product (Mattresses & Pillows, Sleep Laboratories, Medications, Sleep Apnea Devices); By Sleep Disorders; By Region; Segment Forecast, 2022 – 2030” in its research database.
According to the research report, the global size & share of sleeping aids market was valued at USD 64.08 billion in 2021 and is expected to exceed USD 118.3 Billion By 2030, growing at a CAGR of 7.1% during the forecast period.
What is Sleeping Aids? How Big is Sleeping Aids Market?
Sleeping aids are products used to monitor, diagnose, and treat sleep disorders and disturbances. Sleep disorders are conditions that affect sleep patterns and, as a result, cause excessive daytime sleepiness, stress, anxiety, and other symptoms. Symptoms can include difficulty sleeping regularly, irregular breathing, daytime fatigue, or lack of concentration. Insomnia, sleep apnea, parasomnias, Restless legs, and narcolepsy are some of the types of sleep disorders.
Such disorders can be treated using the sleep aids devices such as sleep laboratories, sleep apnea devices, medications, and other things. These products are usually safe for short-term use. However, it is important to take them safely with the recommended dosage. The increasing focus of the worldwide population on the negative outcomes of this disorder is expected to propel the growth of the sleeping aids market.
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Report May Includes:
- A comprehensive analysis of the global size & share markets for sleep aids within the industry and its sub-segments.
- In-depth analysis of factors driving and restraining the growth of the worldwide sleep aids market.
- Global and regional estimation of the actual market size and revenue forecasts for sleep aids and related technologies, and corresponding market share analysis on the basis of type of product and sleep disorder with major regions and countries involved
- Impact of COVID-19 pandemic on the growth of global sleep aids market vs. the overall global economy
- Country-specific data and analysis for the U.S., Canada, France, Germany, U.K., Spain, Italy, Japan, China, India, Australia, South Korea, and other emerging economies
Some of the Top Market Players Are:
- AstraZeneca Plc
- Cadwell Industries Inc.
- Compumedics Limited
- CSL Limited
- Devilbiss Healthcare
- Emergent Biosolutions
- Hoffmann-La Roche Ltd.
- Gamma Vaccines Pty Ltd.
- GlaxoSmithKline Plc
- Koninklijke Philips N.V.
- Merck & Co. Inc.
- Natus Medical Incorporated
- Novartis AG
- Pfizer Inc.
- Sinovac Biotech Ltd.
- Sleepmed Inc
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Market Growth Driving Factors Are:
The fluctuating sleep pattern of the global population due to modern lifestyles is the major factor driving the growth of the sleeping aids industry. The increasing disposable income coupled with the advantages of using sleep aid products is also fueling the market’s growth. Due to the growing preference for luxurious lifestyles among consumers and enhanced access to medical services, there is high demand for quality healthcare. Thus it is expected to bolster the market growth during the forecast period.
Moreover, the surge in approval of new products in the sleeping aids market, along with the rising developments of sleep aids devices, which has led to increasing their adoption rate in developing nations, is anticipated to create lucrative opportunities in the global sleep aids market. In addition, the industry is expected to see tremendous growth due to the rising consumption of drugs by SDB (Sleep-Disordered Breathing) patients. These patients are at high risk of suffering from several adverse effects of viral infection. In addition, the rising number of M&A (Merger & Acquisition) among key players to increase their footprints and geographic existence are other key factors projected to fuel the market growth.
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Sleeping Aids Market: Report Scope
|Market Outlook for 2030||USD 118.3 Billion|
|Market Size 2021 Value||USD 64.08 Billion|
|Expected CAGR Growth||7.1% from 2022 – 2030|
|Forecast Year||2022 – 2030|
|Top Market Players||AstraZeneca Plc, Biodiem, Cadwell Industries Inc., Compumedics Limited, CSL Limited, Drive, Devilbiss Healthcare, Emergent Biosolutions, F.Hoffmann-La Roche Ltd., Gamma Vaccines Pty Ltd., GlaxoSmithKline Plc, Koninklijke Philips N.V., Merck & Co., Inc., Natus Medical Incorporated, Novartis AG, Pfizer Inc., Sanofi, Sinovac Biotech Ltd., and Sleepmed Inc.|
|Segments Covered||By Product, By Sleep Disorders, By Region|
|Customization Options||Customized purchase options are available to meet your research needs. Explore customized purchase options|
Key Report Segmentation
- Insight by Sleep Disorders
Based on sleep disorders, in 2021, the insomnia segment witnessed the largest revenue share in the sleeping aids industry and is anticipated to continue its dominance over the forecast period. Insomnia is a common sleep disorder that causes difficulty in getting or staying asleep. Stress, depression, and pain are some of the common causes of this disorder. The growing prevalence of the disorder across the globe is one of the major factors driving the segment’s growth.
Moreover, the sleep apnea segment is expected to account for the fastest growth rate over the anticipated period owing to the increasing sleep apnea testing. Other factors promoting the growth of this segment include the rising adoption of CPAP (Continuous Positive Airway Pressure) devices.
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By geography, North America dominated the market by accounting for the highest revenue shares in the global sleeping aids market in 2021. The rising consumption of alcohol and cigarette in North America, which has led to the high prevalence of sleeping disorders, is the major factor contributing to the market’s growth in the region. In addition, the presence of leading players in the U.S. coupled with the growing consumer awareness about improving sleep quality and using sleeping aids devices are expected to augment the industry growth.
Furthermore, the Asia Pacific is expected to record the highest CAGR during the study period owing to the rising per capita income and increasing awareness about the adverse outcomes of sleeping disorders among the population. Also, the fluctuating lifestyle and growing number of the younger population are projected to create growth opportunities in the sleeping aids market.
Browse the Detail Report “Sleeping Aids Market Share, Size, Trends, Industry Analysis Report, By Product (Mattresses & Pillows, Sleep Laboratories, Medications, Sleep Apnea Devices); By Sleep Disorders; By Region; Segment Forecast, 2022 – 2030” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/sleeping-aids-market
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- In October 2019, Fisher & Paykel released new OSA masks in the U.S. market.
- In April 2017, Koninklijke Philips launched DreamStation Go, a small PAP device to simply travel for OSA patients.
Polaris market research has segmented the sleeping aids market report based on product type, sleep disorders, and region:
Sleeping Aids Market: By Product Outlook
- Mattresses & Pillows
- Sleep Laboratories
- Prescription-based Drugs
- OTC drugs
- Herbal drugs
- Sleep Apnea Devices
Sleeping Aids Market: By Sleep Disorders Outlook
- Sleep Apnea
- Restless Legs Syndrome
- Sleep Walking
Sleeping Aids Market: By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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