The global sleep aids market size was estimated at USD 78 billion in 2022 and is expected to reach around USD 131.35 billion by 2032, poised to grow at a CAGR of 5.40% during the forecast period 2023 to 2032.
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Sleep disorders are situations that disturb relaxing sleep or weaken the sleeping patterns resulting in daytime sleepiness and other sleep aid symptoms. Improper sleep can have irritating moments in college as well as work presentation, weight, thinking, mental health, interpersonal relations, and the progress of heart disease and diabetes.
Sleep aids have numerous symptoms like the steady experience of trouble napping, drowsiness throughout the daytime even after taking sleeping for more than seven hours before the night, and less or impaired capacity to execute steady day events. The basic sleep disorders like insomnia, sleep apnea, restless legs syndrome, and narcolepsy. The sleep disorders conditions can be cured with treatment choices such as the number of medicinal drugs medicines, like pitolisant, modafinil, and armodafinil and supplements, therapy & medications like gabapentin, suvorexant, eszopiclone, zolpidem, melatonin, zaleplon, ramelteon, Lemborexant. The adverse effects of sedatives like hepatotoxic, hypnotics, allergy, hematologic reactions, and have inclined people to prefer sleep aid devices instead of sleeping pills.
Growing approvals for the product and funding from the government for healthier treatment and testing of sleep aponia are creating vast opportunities for producers of products of sleep aid treatment to fight against chronic sleeping conditions and increase their market share. Sleep aid devices demand is approximately prevalent, due to the growing sleep conditions like central sleep apnea, insomnia, and obstructive sleep apnea. Numerous sleeping aids can also take part in the treatment of sleeping conditions. Furthermore, regular workouts and appropriate organization of light, sound, and temperature in the residence too support sleep impairment.
Report Scope of the Sleep Aids Market
|Market Size in 2023||USD 81.82 Billion
|Market Size by 2032||
USD 131.35 Billion
|Growth Rate from 2023 to 2032||CAGR of 5.40%|
|Forecast Period||2023 to 2032|
|Segments Covered||Product, Sleep-Disorder, Geography|
Acelity L.P. Inc. (Kinetic Concepts, Inc.), AstraZeneca Plc, Biodiem, Cadwell Industries Inc., Compumedics Limited, CSL Limited, Drive, Drive DeVilbiss Healthcare Inc., Eisai Co., Ltd., Emergent Biosolutions, F.Hoffmann-La Roche Ltd., Fisher & Paykel Healthcare Limited, Gamma Vaccines Pty Ltd., GlaxoSmithKline Plc., Koninklijke Philips N.V., Merck and Co. Inc., Natus Medical Incorporated, Novartis AG, Pfizer Inc., ResMed Inc., Sanofi S.A., Serta Simmons Bedding LLC, Sinovac Biotech Ltd., SleepMed Inc., Takeda Pharmaceutical Company Limited, Tempur Sealy International Inc.
The development of the Market for Sleep aids is driven using sleep aid products and development in non-refundable income. Furthermore, the increase in the elderly and overweight people has directed to a rise in sleep disorder cases, which is expected to upsurge the population of patients with sleep conditions that contribute to the direction of the market growth. Equally, the development of the products sleeping aids assistances to rise in the acceptance and the vacant market in emerging financial prudence, which are anticipated to bid profitable chances for the market growth.
The market for sleep aids has been increasing the demand for the growing occurrence of sleeplessness all around the world. The necessity for sleep aids is required across all people age groups. Variations in patterns of sleep caused by the change in lifestyle, access to better healthcare amenities, the increasing prosperity of consumers, and the growing demand for worthy healthcare are all increasing the development of the sleep aid market. Main market players of sleep aid treatments are focused on product developments, achievements, and the launching of the new product to increase their development opportunities. The most important tactic of manufacturers of sleep aid is to rising investments in R&D products to meet the demographic demand of some patients. Several medicinal experts accepted the effectiveness of sleep aids. Increasing the complaints of people regarding sleeplessness in old age led to an increase in the global sleep aid market. It is anticipated that new sleep aids will be established by healthcare experts in the upcoming days. Devices for Sleep apnea are likely to gain approval over the coming years. The increasing difficulties of sleeplessness will speed up the health association to grow new and further well-organized sleeping aids. The changing lifestyles of the people play an important role in the market growth of worldwide sleeping aids. The universal market for sleep aids is expected to gather huge income revenues in the upcoming years.
The increase in the obese and geriatric population directed to a rise in the patients with sleep disorders are causative to the growth of the market. The importance of using products of sleep aids and growing non-refundable income are driving the market development the sleeping aids. The increasing effort of the worldwide population in the direction of this illness is predicted to the expansion of the market of sleeping aids. The rising intake of medicine by patients with Sleeping-disorder breathing is expected to show a positive impact on the growth of the worldwide market of sleeping aids. This type of patient suffering from many antagonistic consequences of the disease is at high risk of infection. However, the altering sleeping pattern of the worldwide population owing to altering lifestyles is an extra main factor boosting the growth of the market for sleeping aids. The recent developments of the product with the altering guidelines owing to the COVID-19 epidemic’s diverse importance are projected to give a positive effect on the growth of the market after the pandemic. Furthermore, the growing acceptance of innovative products and the growing government capital for R & D for the sleep aid market are predicted to expose new development chances in the market of sleep aid.
Pillows and Mattress sector dominated the market of a sleep aid with the major market share and it is expected to keep on dominant throughout the forecast. The mattresses & pillows are predicted to see disposition determined by the growing developments in industrial methods. Primary features driving segmental development like easy useableness & accessibility of a diversity of things and more alertness about the health assistances of excellent sleep. The increasing difficulties of sleeplessness will speed up the health association to grow new and further well-organized sleeping aids. The changing lifestyles of the people play an important role in the market growth of worldwide sleeping aids.
The growing user alertness related to excellent sleep directed to increasingly essential for opportuneness and agreement. The issues causal to this segmental development like growing acceptance of sleep aid devices, industrial developments in the market of sleep aid devices, an upsurge in the occurrence of sleep conditions like sleeplessness, and an increase in the amount of effective and advanced product launches. The growing extent of the elderly people and the comfort of access to an inclusive variety of products will performance as significant features for the development of the industry.
Sleep Disorder Insights
Depending on sleep disorders universal market for sleep aids is segmented into sleepwalking, narcolepsy, insomnia, restless leg disorder, sleep apnea, and other conditions. The part of Insomnia observed the major market share and is projected to lead the market of sleeping aids and its governance in the business during the period of forecast due to the growth in healthcare alertness, growing occurrence of sleeping apnea, reduction in a physical workout by the people, and progress in the geriatric people. Insomnia is a condition that causes trouble in staying or falling asleep. A huge portion of the sector can be credited to the growing occurrence of the disorder worldwide. The main causes of this condition like pain, depression, chronic stress, and others. Furthermore, another growth sponsor is budding treatment practice in this section. The segment of Sleep Apnea may display the highest development in the prediction period owing to the growing sleep apnea challenge.
Also, the growing acceptance of Continuous Positive Airline Pressure strategies is predictable to drive the market progress of the part. CPAP strategies are an approach for treating Sleeping Apnoea. This device of CPAP help in upholding appropriate sleep and bid break from wheezing. Around 70 million people in America suffer from this condition according to the U.S. Sleep Association. from which, around 30-50% of the people show signs of Insomnia whereas 10-20% have long-lasting insomnia.
The segment of sleep apnea is predicted to show the wildest development in the forecast period. The increasing sleep apnea trying is boosted segmental growth. Additionally, the increasing treatment trials are projected to boost the segment growth.
Sleep Aids Market Share, By Region, 2022 (%)
|Regions||Revenue Share in 2022 (%)|
North America reported the maximum market shares segment in the market. The market share may be credited to the more occurrence of sleep illnesses owing to the more use of cigarettes and alcohol consumption in the country. Also, the occurrence of key business companies in the United States with the growing consumer awareness associated with the products of sleep aids and sleep excellence is projected to increase the market growth. The growth in overweight and elderly people is projected to boost the market’s demand for sleeping aids devices and medication.
The Asia Pacific market for sleep aids is expected to show the maximum CAGR throughout the prediction years. Additionally, the altering routine, taking scrambled tense occupied hours laterally with the growing newer population, is predicted to pitch enormous opportunities in market growth. The highest development of the Asia Pacific business is credited to the growing per capita profits income attached to the increasing information concerning the adverse effects amongst the people. Furthermore, the increasing movement to the usage of OTC medicine is expected to drive market growth in developing countries like China, India, Japan, and others with high CAGR.
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Segments are covered in the report:
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