The "Sleeping Aids Market Share, Size, Trends, Industry Analysis Report, By Product; By Sleep Disorders; By Region; Segment Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global sleeping aids market size is expected to reach USD 118.31 billion by 2030 according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing number of patient base suffering from respiratory issues, cardiovascular illnesses, and Obstructive Sleep Apnea (OSA), coupled with the rising occurrence of insomnia, are the primary factors that are likely to accelerate the industry demand across the globe. In addition, growing awareness regarding the accessibility of various sleeping aids and rising investments by the companies in the R&D activities are bolstering the industry growth across the globe. Moreover, factors such as rising consumption of alcohol and tobacco, sedentary lifestyle, stressful working hours are further attributed to the global industry demand in the forecasting years.
Based on the sleep disorders, the insomnia segment is dominating the global industry with the highest revenue shares owing to the irregular sleep schedule, stress, poor sleeping habits, and many others, coupled with the rising incidences of these disorders among the young and millennial population may lead to the segment demand. Whereas the sleep apnea segment is showing the highest CAGR rate that leads the industry demand. Factors such as the growing prevalence of patients affected with OSA (Obstructive Sleep Apnea), and growing awareness regarding the availability of various pills are fostering the global demand in the approaching years.
The growing prevalence of sleep apnea and insomnia among the population is a major health problem, which acts as a major driving factor for the industry's growth. For instance, as per the Sleep Foundation, nearly 10% to 30% of adults and 30% to 48% of older adults are suffering from insomnia. Additionally, narcolepsy is also an erratic disorder that can be treated and controlled with the help of sleep aids. Consequently, lack of sleep is decreasing productivity causes stress, depression, physical illnesses and pain, medications, and other neurological problems. Therefore, the industry is gaining huge traction among the population to cure their sleep disorders. Additionally, advancements in the types of sleeping aids such as mattresses and pillows are also propelling the global demand in the near future.
Market Dynamics
Drivers and Opportunities
- The surge in cases of sleep disorders with changing lifestyle
- Technological advancements
Restraints and Challenges
- High cost of devices
The publisher has segmented the sleeping aids market report on the basis of product, sleep disorder, and region:
Sleeping Aids, Product Outlook (Revenue - USD Billion, 2018 - 2030)
- Mattresses & Pillows
- Sleep Laboratories
- Medications
- Prescription-based Drugs
- OTC drugs
- Herbal drugs
- Sleep Apnea Devices
Sleeping Aids, Sleep Disorders Outlook (Revenue - USD Billion, 2018 - 2030)
- Insomnia
- Sleep Apnea
- Restless Legs Syndrome
- Narcolepsy
- Sleep Walking
- Others
Sleeping Aids, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- UK
- Italy
- Spain
- Netherlands
- Austria
- Asia Pacific
- China
- India
- Japan
- Malaysia
- South Korea
- Indonesia
- Latin America
- Mexico
- Brazil
- Argentina
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Companies Mentioned
- 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.
- Sleepmed Inc
For more information about this report visit https://www.researchandmarkets.com/r/acmo33
View source version on businesswire.com: https://www.businesswire.com/news/home/20220512005905/en/
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