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Sleeping Aids Market Segments: By Product Type (Mattresses and Pillows, Sleep Laboratory Services, Medication, Sleep Apnea Devices); By Sleep Disorder (Insomnia, Sleep Apnea, Restless Legs Syndrome, Narcolepsy, Sleep Walking); and Region - Analysis of Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
[ 170 + Pages Research Report ] Sleeping Aids Market to surpass USD 135.4 Billion by 2030 from USD 60.7 Billion in 2018 at a CAGR of 6.90% throughout the forecast period, i.e. 2019-30.
Pills and medical equipment used in the diagnosis and treatment of sleep disorders are sleep aids. Different items such as drugs, sleep labs, sleep apnea machines, and mattresses & pillows consist of sleep aids. In general, medicines include drugs that help promote sleep by restricting central nervous system behaviors. Sleep is a biological necessity that maintains metabolic homeostasis and affects and controls immune function, memory, and other cognitive functions. Drugs and medical equipment used to diagnose and treat different sleep disorders, such as sleep apnea and insomnia, are sleep aids. Lack of quality sleep results in sleep disturbances induced by medical conditions, physical disorders, environmental concerns, and psychological disorders. It is predicted that these sleep disturbances will adversely affect human health and lead to a variety of chronic illnesses, including high blood pressure, diabetes, arthritis, and stroke. It is necessary, therefore, to treat and d. Thus, it is important to treat and diagnose these disorders at an early stage.
Global Sleeping Aids Market to surpass USD 135.4 Billion by 2030 from USD 60.7 Billion in 2018 at a CAGR of 6.90% throughout the forecast period, i.e. 2019-30. Increased consumer disposable income, combined with growing public perception of the adverse effects of sleep disorders, would increase the market size of sleep aids over the projected period. Besides, sleep disorders, such as cardiovascular diseases and diabetes, may adversely affect human health and cause chronic diseases. The above factors would provide lucrative growth for the demand for sleep aids in the coming years. The growing occurrence of sleep disorders such as chronic insomnia, obstructive sleep apnea, and narcolepsy will also stimulate business growth in the coming years with global sleep aids.
Global Sleeping Aids Market is segmented by product type into Mattresses and Pillows, Sleep Laboratory Services, Medication, Sleep Apnea Devices. Increased consumer disposable income, combined with growing public perception of the adverse effects of sleep disorders, would increase the market size of sleep aids over the projected period. Besides, sleep disorders, such as cardiovascular diseases and diabetes, may adversely affect human health and cause chronic diseases. The above factors would provide lucrative growth for the demand for sleep aids in the coming years. The growing occurrence of sleep disorders such as chronic insomnia, obstructive sleep apnea, and narcolepsy will also stimulate business growth in the coming years with global sleep aids.
Global Sleeping Aids Market is segmented by sleeping disorder into Insomnia, Sleep Apnea, Restless Legs Syndrome, Narcolepsy, Sleep Walking. Sleep apnea is expected to hold a major market share of XX% in 2018 mainly on account of the widespread burden of OSA, widespread burden, the growing geriatric population, and the production of technologically advanced portable devices for sleep apnea. The majority of OSA cases remain undiagnosed, as per an article published in the News Medical Lifesciences portal in July 2020, because symptoms are often mild and there is a shortage of diagnostic tools. Therefore, to solve the problem, Finnish computer science students developed an Android program, Apnea Tracker, which uses the sensors of a smartphone or smartwatch to control the user's snoring through a microphone.
Growing Prevalence of Insomnia
Growing incidence of sleep disorders such as chronic insomnia, obstructive sleep apnea, and narcolepsy would stimulate global sleep development. Sleeping aids are involved in insomnia and OSA treatment, which in turn is driving the growth of the global market for sleeping aids. Besides, lifestyle changes and stressful working environments interfere with sleep patterns, leading to different sleep disorders. This acts as a key driving force that in the coming years will stimulate global sleep aids business growth.
Growing Adoption of Wearable Monitors and Sensors
Another main factor for the global sleeping aids market is the increasing adoption of wearable tracking devices and sensors. These instruments record and distribute data concerning different physiological circumstances. Sensor-equipped systems perform different purposes, such as tracking sleep disorders and assessing the quality of sleep. Besides, the quality of sleep is also hindered by long working hours, working in various shifts, hectic working climates, and stressful conditions, along with excess workload. All of these factors contribute to a growing acceptance of OTC sleeping pills that help a person fall asleep, which in turn has a positive effect on the demand for sleeping aids.
High cost of Sleeping Aids products
Another main factor for the global sleeping aids market is the increasing adoption of wearable tracking devices and sensors. These instruments record and distribute data concerning different physiological circumstances. Sensor-equipped systems perform different purposes, such as tracking sleep disorders and assessing the quality of sleep. Besides, the quality of sleep is also hindered by long working hours, working in various shifts, hectic working climates, and stressful conditions, along with excess workload. All of these factors contribute to a growing acceptance of OTC sleeping pills that help a person fall asleep, which in turn has a positive effect on the demand for sleeping aids.
Global Sleeping Aids Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global Sleeping Aids Market in North America held the largest market share of XX.X% in the year 2018 due to increased prevalence of sleep disorders, increased spending on health services, enhanced facilities for healthcare, and efforts and funding from public and private organizations to raise awareness of sleep hygiene and disorders. Due to the high consumption rate of sleeping pills, low production costs of related goods increased geriatric population, and widespread sleeping disorder burden, APAC is projected to be the fastest-growing area in the sleeping aids industry.
The global Sleeping Aids market, which is highly competitive, consists of several major players. Companies, such as BRAEBON Medical Corporation, Löwenstein Medical GmbH & Co. KG, hold a substantial market share in the Global Sleeping Aids market. Other players analyzed in this report are GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Natus Medical Incorporated, Pfizer Inc., Merck & Co. Inc., Koninklijke Philips N.V., and ResMed Inc among others
Recently, various developments have been taking place in the market. For instance, In January 2020, SleepScore Labs, which offers data-backed sleep solutions, announced its partnership with Serta Simmons Bedding LLC (SSB). These two companies partnered on a first–of–its–kind sleep study to explore the effects of sleeping on the iComfort by Serta CF4000 mattress and its ability to create comfortable and restful sleep.
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Koninklijke Philips N.V
Global Sleeping Aids Market Segments:
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