Sleep Aids Market by Product (Mattress & Pillows, Sleep Laboratories, Medications, and Sleep Apnea Devices) and Sleep Disorders (Insomnia, Sleep Apnea, Restless Leg Syndrome, Narcolepsy, Sleepwalking, and Other Sleep Disorders): Global Opportunity Analysis and Industry Forecast, 2021–2030
The global sleep aids market was valued at $59,815.10 million in 2020, and is projected to reach $111,920.10 million by 2030, registering a CAGR of 6.9%from 2021 to 2030.
Sleep is a biological requirement that maintains metabolic homeostasis, influences memory and other cognitive functions, and regulates immune function. Sleep aids are drugs, medical devices, and services that are used to diagnose and treat various sleep disorders such as sleep apnea and insomnia. Lack of quality sleep leads to sleep disorders, which are caused due to medical issues, physical disturbances, environmental problems, and psychiatric disorders. These sleep disorders are expected to adversely affect the human health and lead to a number of chronic diseases such as high blood pressure, diabetes, arthritis, and stroke. Thus, it is important to treat and diagnose these disorders at an early stage.
The benefits of using sleep aid products and rise in disposable income drive the growth of the market. Moreover, the rise in the geriatric and obese population has led to an increase in the cases of sleep disorder, which will increase the patient population with sleep disorders also contribute toward the growth of the market. However, the side effects of sleep aid medication on human health and large number of patent expiration of medication are the major barriers for the growth of the market. The advancement of sleep aid product is anticipated to help increase the adoption rate and the untapped market in developing economies are expected to offer lucrative opportunities for market expansion during the forecast period.
The sleep aids market is segmented on the basis of product, sleep disorder, and region. By product, the market is segmented into mattress & pillows, sleep laboratories, medications, and sleep apnea devices. The medications segment is further classified into prescription-based and over-the-counter (OTC) drugs. On the basis of sleep disorders, it is categorized into insomnia, sleep apnea, restless leg syndrome, narcolepsy, sleepwalking, and other sleep disorders. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
This report provides a detailed quantitative analysis of the current market trends and future estimations from 2020 to 2030, which assists to identify the prevailing market opportunities.
An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
A comprehensive analysis of the factors that drive and restrain the growth of the sleep aids market is provided.
An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
Key market players and their strategies have been analyzed to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
By PRODUCT
Mattresses & Pillows
Sleep Laboratories
Medications
Prescription-Based Drugs
OTC Drugs
Sleep Apnea Devices
By SLEEP DISORDERS
Insomnia
Sleep Apnea
Restless Leg Syndrome
Narcolepsy
Sleepwalking
Other Sleep Disorders
By REGION
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
KEY MARKET PLAYERS
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.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook