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The sleeping aids market size is forecast to increase by USD 38.69 billion at a CAGR of 6.78% between 2023 and 2028. The market is experiencing significant growth due to several key drivers. One major factor is the increasing prevalence of sleep disorders such as narcolepsy, obstructive sleep apnea, and insomnia, leading to a higher demand for medication and oral appliances. Technological innovations in Continuous Positive Airway Pressure (CPAP) devices and the use of the internet to create awareness about sleep disorders are also contributing to market growth. However, the high cost of prescription medications, including Melatonin, Modafinil, and Pitolisant, poses a challenge for some consumers. Additionally, the growing obese population and the associated metabolic imbalances and mental health issues are fueling the demand for sleep aids. Over-the-counter (OTC) drugs, such as pain relievers, are also gaining popularity as an alternative to prescription medications for mild sleep disorders. Overall, the market for sleeping aids is expected to grow steadily due to these trends and challenges.
Sleep is a crucial aspect of maintaining good health and well-being. Disruptions in sleep patterns can lead to various health issues, including memory problems, impaired cognitive abilities, and metabolic imbalance. Poor sleeping habits, chronic diseases such as diabetes, rheumatoid arthritis, high blood pressure, stroke, and sleep disorders like insomnia, sleep apnea, and narcolepsy are common causes of sleep disturbances. These conditions can result in daytime sleepiness, difficulty concentrating, impaired memory, and thinking abilities, affecting school and work performance, interpersonal relationships, and overall quality of life. Sleep disorders can also lead to more serious health complications, such as increased risk of cardiovascular diseases and metabolic disorders.
Additionally, to address these issues, various medical devices and drugs are used as sleeping aids. These include continuous positive airway pressure (CPAP) machines for sleep apnea, modafinil for narcolepsy, and melatonin supplements for insomnia. These aids help restore metabolic homeostasis and improve cognitive functions, allowing individuals to lead healthier, more productive lives. However, it is essential to consult a healthcare professional before using any sleeping aid to ensure safe and effective use.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The insomnia segment is estimated to witness significant growth during the forecast period. Insomnia, a prevalent sleep disorder, affects an estimated 50-70 million Americans each year, with approximately 10% of these individuals developing chronic insomnia. This condition, characterized by difficulty falling and staying asleep for at least three nights per week for three months or more, can significantly impact mental health and metabolic homeostasis. Various medications, including Melatonin, Modafinil, and Pitolisant, are used to treat insomnia. Over-the-counter (OTC) drugs, oral appliances, and medication are common interventions. Insomnia can also be linked to conditions such as narcolepsy, obesity, and pain. Ensuring metabolic balance and addressing underlying health issues are crucial in managing insomnia and maintaining overall well-being.
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The Insomnia segment was valued at USD 23.96 billion in 2018 and showed a gradual increase during the forecast period.
Europe is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The North American market holds a significant share in the global market, driven by the increasing prevalence of metabolic disorders such as diabetes. According to the Pan American Health Organization, healthcare expenditures for diabetes in the Americas are projected to reach USD445.6 billion by 2040. In North America, approximately 34.2 million people have diabetes, representing 10.5% of the US population. People with diabetes have higher healthcare costs, which are two to three times more than those without diabetes. Moreover, the risk of cardiovascular diseases and related comorbidities is also increased by two to three times among people with diabetes.
Consequently, the demand for medication, including Melatonin, Modafinil, and Pitolisant, to manage sleep disorders related to these conditions is on the rise. Additionally, the obese population's growing need for oral appliances and Over-the-counter (OTC) drugs for pain relief contributes to the market's expansion.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing technological innovations in CPAP devices is the key driver of the market. The market has witnessed significant advancements due to the increasing prevalence of illnesses such as high blood pressure, insomnia, and infections, which impair an individual's ability to sleep properly. To cater to the diverse needs of consumers, industrial techniques have been employed to design and manufacture medical devices and equipment, including CPAP machines and mattresses & pillows. companies are focusing on research and development activities to innovate and create CPAP devices that are more user-friendly, with features such as management of light, noise, and temperature. For instance, the launch of Lamborexant, a non-benzodiazepine sleep medication, represents a technological breakthrough in the treatment of insomnia.
Additionally, the development of lightweight interface masks with soft sealing flanges and fewer accessories is improving the usability of CPAP devices. These technological innovations are making CPAP therapy more accessible and effective for individuals with respiratory distress, particularly in resource-poor settings and during transportation.
The use of internet to create awareness is the upcoming trend in the market. The market has experienced significant growth due to the increasing prevalence of illnesses such as high blood pressure and insomnia. These conditions often impair an individual's ability to achieve restorative sleep, leading to a demand for medical devices and equipment. Industrial techniques, including the management of light, noise, and temperature, have been integrated into the design of mattresses and pillows to enhance comfort and improve sleep quality. Medical devices, such as continuous positive airway pressure (CPAP) machines, tongue retaining devices, and mandibular advancement devices, are essential for managing sleep disorders. The Internet plays a pivotal role in the market's expansion, enabling consumers to access a wide range of products and services from various companies.
Additionally, patients can easily research and compare products before making a purchase decision, increasing brand retention and visibility for companies. The Internet also allows companies to reach a larger audience and provide detailed information on their offerings, thereby expanding their customer base.
The high cost of products is a key challenge affecting the market growth. Sleeping disorders, including insomnia and sleep apnea, can significantly impact an individual's health and well-being, leading to various complications such as high blood pressure, impaired ability to concentrate, and even interpersonal relationship issues. To address these concerns, the market for sleeping aids has seen significant growth, with an array of products and medical devices available. Pressure-relief mattresses and Continuous Positive Airway Pressure (CPAP) devices are among the most common solutions for managing sleeping disorders. These products cater to different conditions, with pressure-relief mattresses focusing on providing comfort and support for those with impaired ability to maintain a restful position during sleep.
Also, these mattresses and pillows are considered essential lifestyle products, with prices ranging from USD530 to USD4,000, depending on the type and features. Unlike other lifestyle products, pressure-relief mattresses do not require frequent maintenance or service. However, their long lifespan and high cost result in reduced repurchasing rates by customers. The market for sleeping aids also includes medical devices and equipment, such as CPAP machines, which help manage conditions like sleep apnea by maintaining optimal airflow during sleep. In addition to these products, various techniques are used to manage external factors that may affect sleep quality, such as light, noise, and temperature.
In conclusion, industrial techniques like Management of Light (MOL), Management of Noise (MON), and Management of Temperature (MOT) are employed to create ideal sleeping environments. Mattresses and pillows with advanced pressure-relief features continue to evolve, making older models obsolete as new products enter the market.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AstraZeneca Plc - The company offers wearable devices which provide sleep algorithms and analysis techniques to provide data analysis and recommend users appropriately for quantifying their sleep.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing prevalence of common sleep disorders such as insomnia, sleep apnea, restless legs syndrome, and narcolepsy. The aging population and the obese population are major contributors to this market's growth. Changing lifestyles, chronic stress, and chronic diseases like diabetes, heart disease, and high blood pressure are also driving the demand for sleeping aids. The adoption rate of medical devices, such as adaptive servo-ventilators (ASVs), sleep apnea devices, and oral appliances, is increasing due to their health benefits. The market for sleeping aids is vast, encompassing a range of products from prescription-based drugs and medications to over-the-counter (OTC) drugs, supplements, and devices.
Thus, these include melatonin, ramelteon, lamborexant, modafinil, pitolisant, and suvorexant. The development of diabetes, depression, and other chronic diseases can lead to disruptive sleep patterns, further increasing the demand for sleeping aids. The market for sleeping aids also includes counseling, management of light, noise, and temperature, and wearable sensors. Poor sleeping habits, difficulty sleeping, daytime sleepiness, and impaired cognitive functions are some of the symptoms that can be addressed through these products. The use of statistical tools and tracking devices is also gaining popularity in the market. The market for sleeping aids is expected to continue growing due to the business development potential and healthcare awareness.
However, there are adverse repercussions associated with the long-term use of prescription-based drugs and medications, leading to a growing trend towards natural remedies and alternative treatments. Regular exercise, good mattresses & pillows, and maintaining a metabolic balance are some of the natural ways to improve sleep quality.
Market Scope |
|
Report Coverage |
Details |
Page number |
180 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
Market growth 2024-2028 |
USD 38.69 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.23 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 33% |
Key countries |
US, France, Germany, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abecca, ActiGraph LLC, AstraZeneca Plc, Becton Dickinson and Co., Cadwell Industries Inc., Compumedics Ltd., ConnectAmerica, CSL Ltd., F. Hoffmann La Roche Ltd., GlaxoSmithKline Plc, Koninklijke Philips N.V., Medical Depot Inc., Merck and Co. Inc., Natus Medical Inc., Pfizer Inc., Sanofi SA, Serta Inc., SleepMed Inc., Takeda Pharmaceutical Co. Ltd., and Talley Group Ltd. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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