Sleeping Aids Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, France, Germany, China, Japan - Size and Forecast 2024-2028

Sleeping Aids Market Size 2024-2028

The global sleeping aids market size is estimated to grow by USD 38.69 billion at a CAGR of 6.78% between 2023 and 2028. The sleep apnea devices market is increasing forward by several key drivers, including advancements in CPAP devices, the expansion of patient-care services, and the prolonged lifespan and working hours of individuals. Despite its promising trajectory, the market faces challenges such as insufficient patient compliance. However, market dynamics like the increasing prevalence of obstructive sleep apnea (OSA) and the utilization of online platforms for awareness campaigns are expected to fuel market expansion, underscoring the growing significance of addressing sleep-related disorders and the need for innovative solutions to enhance patient compliance and treatment efficacy. As awareness grows and technological advancements continue, the sleep mask market is poised for further growth and development in addressing the evolving needs of patients with sleep apnea and related conditions.

What will be the Size of the Sleeping Aids Market During the Forecast Period?

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Key Companies & Market Insights

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. The report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

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.

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.

Market Segmentation 

By Type Insights

The market share growth by the insomnia segment will be significant during the forecast period. The market encompasses various products and treatments for managing sleep disorders, including insomnia. Insomnia affects a significant portion of the population, with up to 70 million Americans experiencing it annually. Chronic insomnia, which lasts for three months or more, affects approximately 10% of those with the condition. Factors contributing to insomnia include poor sleeping habits, mental health issues, metabolic imbalances, and conditions like narcolepsy, restless leg syndrome, and sleep apnea. To address sleep issues, the market offers a range of solutions. These include medications like Melatonin, Modafinil, and prescription-based drugs such as Ramelteon and Pitolisant.

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The insomnia segment was valued at USD 23.96 billion in 2018. Additionally, there are OTC drugs and medical devices like mattresses and pillows, oral appliances, and sleep apnea devices. Management of environmental factors, such as light, noise, and temperature, is also crucial. Regular exercise and addressing underlying causes, such as stress and obesity, can also improve sleep quality. The market is witnessing increased research and development to cater to the growing demand for effective sleep solutions. However, the market's growth may be impacted by reduced trade and economic factors. Overall, the market offers various options to help individuals manage their sleep disorders and improve their overall health and well-being.

Regional Analysis

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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 will shape the market during the forecast period. The North American market holds a significant share in the global industry, driven by the increasing prevalence of sleep disorders, particularly among the obese population and those with diabetes. According to the Pan American Health Organization, diabetes-related healthcare expenditures in the Americas are projected to reach USD 445.6 billion by 2040. In North America, approximately 34.2 million people have diabetes, representing 10.5% of the US population. People with diabetes face higher healthcare costs and a two to three times increased risk of cardiovascular diseases and related comorbidities. Several factors contribute to sleep disturbances, including management of light, noise, and temperature.

Further, various medical devices, such as mattresses & pillows, oral appliances, and sleep apnea devices, are used to address these issues. Medications like Melatonin, Modafinil, Ramelteon, and Pitolisant are commonly prescribed for sleep disorders, narcolepsy, and restless leg syndrome. Over-the-counter (OTC) drugs are also popular for managing pain and poor sleeping habits. Mental health, metabolic balance, and metabolic homeostasis are essential aspects of sleep management. Regular exercise, stress reduction, and maintaining a healthy lifestyle are crucial for optimal sleep quality. Research methodologies continue to explore new approaches to addressing sleep disorders, including the use of Lamborexant, a novel sleep medication. Overall, the market encompasses a diverse range of medical devices, medications, and research initiatives aimed at improving sleep quality and addressing the underlying causes of sleep disorders. The increased adoption of these products has significantly impacted the growth of the market in the region.

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Market Dynamics and Customer Landscape

The market offers various solutions. Medical devices like continuous positive airway pressure (CPAP) machines and sleep monitors help manage sleep apnea and other sleep disorders. Drugs like benzodiazepines, non-benzodiazepine sedatives, and melatonin receptor agonists are used to treat insomnia and other sleep disorders. These interventions aim to restore metabolic homeostasis and improve cognitive functions, ultimately leading to better sleep patterns and overall health. Our researchers analyzed the data with 2022 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.

Key Market Driver

The growing patient-care services are a key factor driving the growth of the market. The market encompasses a range of items designed to help individuals with various sleep disorders and disturbances. Sleep laboratories utilize advanced statistical tools and wearable sensors to track sleep patterns and identify symptoms of conditions such as sleepwalking, tiredness, and stroke. Technological innovations have significantly impacted the market, leading to the development of sophisticated sleeping aids.

For instance, CPAP devices have been improved with lightweight interface masks featuring soft sealing flanges and fewer accessories, making them more adaptable to different face geometries. Additionally, the emergence of supplements like Melatonin and prescription medications such as Suvorexant have proven effective in addressing sleep disorders. Overall, the market continues to evolve, focusing on user-friendly designs and cutting-edge technology to cater to diverse needs. Thus, these factors will drive the growth of the market during the forecast period.

Significant Market Trends

The rising prevalence of OSA is the primary trend in the market growth analysis. The Internet has revolutionized the market for sleep help items, providing easy access to information on various sleeping aids for consumers. Sleep laboratories and companies utilize online platforms to showcase their offerings, enabling users to compare products and make informed decisions based on symptoms such as sleepwalking, tiredness, and irregular sleep patterns. Statistical tools and tracking devices, including wearable sensors, facilitate the monitoring of sleep patterns and weight, contributing to the effective use of sleeping aids like Supplements and prescription medications such as Suvorexant.

Further, the Internet's increasing penetration allows companies to reach a broader audience, offering information on a wide range of sleeping aids, including position pillows, tongue retaining devices, mandibular advancement devices, and Continuous Positive Airway Pressure (CPAP) devices and services, ultimately expanding their customer base and revenue generation. Such factors will drive the growth of the market during the market research report period.

Major Market Challenge

The lack of patient compliance is a major challenge to the growth of the market. The market encompasses various items designed to help individuals address sleep disorders and improve sleep quality. Sleep laboratories utilize advanced statistical tools and wearable sensors to track sleep patterns and identify symptoms of conditions such as sleep apnea, sleepwalking, and stroke. Sleeping aids include pressure-relief mattresses, which can cost between USD 530 and USD 4,000, and do not require regular maintenance.

However, their long lifespan and high price reduce the likelihood of repurchasing. Other sleeping aids include supplements like Melatonin and Suvorexant, which help regulate sleep, and thinking aids for those experiencing insomnia due to mental stress. Weight management is also crucial in addressing sleep issues, making weight loss supplements and programs a part of the market. These factors will limit the value and growth of the market during the market growth and forecasting period.

Market Customer Landscape

The market forecast 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 market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market forecasting and growth strategies.

 Customer Landscape

Segment Overview

The market 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.

• Type Outlook
  • Insomnia
  • Sleep Apnea
  • Restless legs syndrome
  • Others
• Product Outlook
  • Mattress and pillows
  • Sleep apnea devices
  • Others
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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Market Analyst Overview

The market is a significant sector in the Healthcare industry, utilizing various technologies and products to cater to individuals experiencing sleeping disorders or those seeking enhanced sleep quality. Key components of this market include Adaptogens like Ashwagandha and Ginseng, Herbal Supplements such as Melatonin and Valerian Root, Devices like Chronomics and Sleep Trackers, and Therapies such as Cognitive Behavioral Therapy and Hypnosis. Adopting Advanced technologies like Artificial Intelligence and Machine Learning, companies are developing personalized Sleeping Aids solutions based on individual needs and preferences.

For instance, Armadafinil and Modafinil are prescription drugs used to treat sleep disorders like Narcolepsy and Sleep Apnea. Moreover, the market is witnessing a surge in demand for natural and organic Sleeping Aids due to growing consumer awareness and preference for chemical-free alternatives. Companies like Dymatize and Optimum Nutrition offer natural supplements containing essential vitamins and minerals to promote restorative sleep. In summary, the market is a dynamic and evolving sector, driven by technological advancements, consumer preferences, and the increasing recognition of the importance of quality sleep for overall health and well-being.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the between 2024 and 2028
• Precise estimation of the size of the market and its contribution in focus to the parent market
• Detailed analysis of customer landscape covering diver of price sensitivity, adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of companies