Sleep aids are substances or methods used to help people fall asleep and stay asleep. They are commonly used to treat sleep disorders such as insomnia or to help with temporary sleep problems due to stress, jet lag, or other factors. the sleep aids market generated $59.8 billion in 2020, and is projected to reach $111.9 billion by 2030, witnessing a CAGR of 6.9% from 2021 to 2030.
Examples of sleep aids include:
- Medications: Prescription sleep medications such as benzodiazepines, non-benzodiazepine hypnotics, and antihistamines.
- Over-the-counter remedies: Melatonin, valerian root, and other herbal supplements.
- Behavioral changes: Establishing a regular sleep schedule, avoiding screens before bedtime, and creating a relaxing bedtime routine.
- Devices: White noise machines, sleep masks, and weighted blankets can help create a more conducive sleep environment.
It’s important to use sleep aids with caution and under the guidance of a healthcare professional, as some can cause side effects or interact with other medications. Additionally, making lifestyle changes and addressing underlying medical or psychological conditions that affect sleep are often recommended before using sleep aids.
Sleep Aids Market in Short:
✅ CAGR: 6.9%
✅ Current Market Size: USD 111.9 Billion
✅ Fastest Growing Region: APAC
✅ Largest Market: North America
✅ Projection Time: 2021-2030
✅ Base Year: 2021
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Which is the most influencing segment growing in the Sleep Aids market report?
Mattresses And Pillows segment is the most influencing segment owing technological advancements in the sleep aids devices, increase in adoption of these devices.
What are the key trends in the Sleep Aids market report?
The technological advancements in the sleep aid devices, increase in adoption of sleep aid devices, rise in incidence rate of sleep disorders like insomnia are the key trends in the Sleep Aids market report.
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Covid-19 Situation –
- The outbreak of the COVID-19 disease has had a negative impact on the growth of the global sleep medicine market, due to the decline in sleep aid products for sleep disorders.
- In addition, retailers have reduced their investment in equipment and supplies, due to the closure of factories to protect workers across the region, which in turn has affected the growth of the market.
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The risk of sleep problems increases with age and obesity, thus increasing the geriatric and large population supports the growth of the market. In addition, the increasing number of initiatives by the health industry to make people aware of the negative effects of sleep disorders on human health, lifestyle changes, and inconsistent sleep patterns will increase market growth. However, it is expected that the effects on the use of sleeping pills and the expiration of the patent will limit the market growth.
It is expected that the sleep laboratory sector will grow at the highest rate and provide financial opportunities to the marketers. These are used for the diagnosis and treatment of sleep disorders. The presence of a large number of undiagnosed patients with sleep problems is expected to make progress in this area.
Major Key Market Players in the Industry –
- Cadwell Industries, Inc.
- Compumedics Limited
- Drive DeVilbiss Healthcare Inc.
- GlaxoSmithKline Plc
- Merck& Co., Inc.
- Natus Medical Inc.
- Koninklijke Philips N.V.
- PFIZER, INC.
- Sanofi S.A.
- SleepMed Inc.
Market: By Region Outlook
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
- LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)
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Important Questions Being Answered by This Market Report Are –
Q1. What is the total market value of Sleep Aids market report?
Q2. Which are the top companies hold the market share in Sleep Aids market?
Q3. What would be forecast period in the market report?
Q4. Which is base year calculated in the Sleep Aids market report?
Key findings of the study –
- Based on product, the bed and pillow segment hold the share of the global sleep medicine market in 2020.
- Based on sleep disorders, the insomnia segment holds the largest share of the sleep medicine market in 2020 and is expected to remain dominant during the forecast period.
- The region, Asia-Pacific is expected to witness the highest growth rate, registering a CAGR of 9.2% during the forecast period.
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