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The Global Sleeping Aids Market size is estimated to grow by USD 36.42 billion, at a CAGR of 6.79% between 2022 and 2027. Key drivers propel the market forward, including advancements in CPAP devices, the expansion of patient-care services, and the prolonged lifespan and working hours of individuals. Despite its promising trajectory, challenges such as insufficient patient compliance impede its growth. Nevertheless, 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. These trends underscore 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 market is poised for further growth and development in addressing the evolving needs of patients with sleep apnea and related conditions.
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The market encompasses a range of medical devices and drugs designed to address various sleep disorders and poor sleeping habits. These conditions, including insomnia, sleep apnea, and narcolepsy, can negatively impact memory, cognitive abilities, metabolic balance, and overall health. Chronic diseases such as diabetes, rheumatoid arthritis, high blood pressure, and stroke are often associated with sleep disorders and daytime sleepiness. Symptoms like difficulty sleeping, tiredness, and impaired ability to perform at school or work can significantly impact interpersonal relationships and thinking.
This market report extensively covers market segmentation by type (insomnia, sleep apnea, restless legs syndrome, and others), product (mattress and pillows, sleep apnea devices, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
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 22.77 billion in 2017. 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.
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North America is estimated to contribute 35% to the growth of the global sleep aids market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that 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.
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.
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.
The rising prevalence of OSA is the primary trend in the market. 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 forecast period.
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 forecast period.
The market research 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 forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market 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.
The report also includes detailed analyses of the competitive landscape of the market and information about 16 market 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 report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.79% |
Market growth 2023-2027 |
USD 36.42 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.41 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abecca, AstraZeneca Plc, Becton Dickinson and Co., Cadwell Industries Inc., Compumedics Ltd., ConnectAmerica, CSL Ltd., F. Hoffmann La Roche Ltd., GlaxoSmithKline Plc, Medical Depot Inc., Merck and Co. Inc., Natus Medical Inc., Pfizer Inc., Sanofi SA, Serta Inc., SleepMed Inc., Takeda Pharmaceutical Co. Ltd., Talley Group Ltd., ActiGraph LLC, and Koninklijke Philips NV |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
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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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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