Analysis of Sleeping Aids market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Expanding at a CAGR of 5.4%, the global sleeping aids market is predicted to increase from US$ 83.1 billion in 2022 to top a valuation of US$ 120 billion by 2030.
Global sales of sleep apnea devices are expected to rise at a high CAGR of 6% from 2022 to 2030 and will reach US$ 35.6 billion by 2030. This can be attributed to the growing awareness about sleep apnea disorder as well as the high efficiency and effectiveness of sleep apnea devices.
Sleep disorders affect the sleep cycle or disturb restful sleep, which can lead to daytime tiredness and other symptoms. It may result in a variety of symptoms, including recurring sleep issues, daytime fatigue despite getting at least seven hours of sleep the night before, and a diminished or impaired capacity of engaging in routine daytime activities.
Lack of sleep can have negative effects on academic and professional performance, interpersonal interactions, thinking, mental health, and weight, and also lead to the onset of diabetes and heart disease. Sleep disorders can be treated with natural sleep remedies using natural or herbal sleeping tablets, and also with homeopathic sleep remedies.
Insomnia, narcolepsy, restless legs syndrome, and sleep apnea are some of the common sleep disorders. Treatment options for sleep disturbances include psychotherapy, drugs and supplements, and a range of stimulants or pharmaceuticals that promote wakefulness. Furthermore, frequent exercise and environmental noise, light, and temperature also contribute to sleep disruptions. Sleep disturbance treatment can potentially benefit from a variety of sleeping aids. Furthermore, rise in the elderly population and obese people has increased the number of sleep problem cases, which is subsequently driving sleeping aids market growth.
The development of advanced sleep aid products has helped in increasing acceptance rates and unexplored markets in developing economies, which are anticipated to present a profitable potential for the expansion of the sleeping aids industry size. Worldwide demand for sleeping aids is expected to be driven by an increase in the patient population suffering from cardiovascular illnesses, respiratory problems, and obstructive sleep apnea (OSA).
A medical sleep disease called insomnia makes it difficult to fall asleep or stay asleep all night. Insomnia, or sleep loss, is frequently brought on by melancholy, ongoing stress, arthritis, and discomfort or pain at night. For the treatment of sleep-related diseases, sleep apnea devices such as continuous positive airway pressure (CPAP) devices are employed. The use of CPAP machines is expanding because they promote restful sleep and reduce snoring. Manufacturing various CPAP devices is becoming a bigger emphasis for businesses.
Key producers of sleeping aids have started releasing a variety of sleep aid pills to fulfil the growing demand for them. Manufacturers frequently utilise chamomile, hops, L-theanine from green tea, and the hormone melatonin in their sleep aid medications. Demand for sleep aid products has been rising along with people understanding the advantages of getting enough sleep. The sleep aid supplements market that promotes sleep has been expanding positively and is anticipated to do the same during the forecast period.
Some other growth factors influencing the growth of the sleeping aids market include the expanding infrastructure of healthcare facilities, widespread use of portable sleep apnea equipment, rising geriatric population, increasing uptake of wearable sensors and monitors, and the pervasive burden of obstructive sleep apnea (OSA) and insomnia.
Sleeping Aids Market Size (2022E)
US$ 83.1 Billion
Forecasted Market Value (2030F)
US$ 120 Billion
Global Market Growth Rate (2022-2030)
China Market Value (2030F)
US$ 28.6 Billion
China Market Growth Rate (2022-2030)
Key Companies Profiled
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“Rising Cases of Sleep Disorders across the World Driving Sales of Sleeping Aids”
The rising spending power of people on health, altered sleep patterns brought on by lifestyle changes, easier access to medical services, and an increase in demand for high-quality healthcare are all factors generating opportunities in the sleeping aids market.
Numerous opportunities are opening up for suppliers of sleep aid devices to address chronic sleep problems and increase market share. The trends in the sleeping aids market include increasing product approvals, government support for better therapeutic approaches, and sleep apnea testing.
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“Risk of Side Effects of Some Sleep Aid Medications”
Concerns about complexity in the treatment of sleep problems have increased with the introduction of new technologies. Additionally, inadequate equipment standards related to sleep aid machines and a lack of suitable paperwork for the use and licensing of sleeping tablets are to blame for the slower market growth.
Although there are several medications on the market to treat narcolepsy and insomnia, their side effects are quite dangerous. The most frequent adverse reactions to sleep aids are headaches, protracted drowsiness, issues with memory and performance throughout the day, allergic reactions, etc.
These negative effects are connected to both over-the-counter sleep aid and prescription sleep aid drugs, which in some ways restrains sleeping tablet demand.
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“High Consumption of Alcohol & Cigarettes in North America”
Because of the prevalence of sleeping disorders brought on by the region's heavy habit of alcohol and cigarette consumption, North America accounts for a sizeable share of the global market for sleeping aids. Furthermore, the regional market is likely to benefit from the presence of important industry players as well as rising consumer awareness about sleep quality and sleeping aid products.
The regional market with an impressive growth rate throughout the projection period is expected to be the Asia Pacific. This development can be ascribed to the rising spending income on healthcare and the public's growing awareness of the harmful effects of sleeping disorders.
Similarly, the expansion of hospitals with cutting-edge equipment, R&D investments, technological developments in the sleep aid industry, and expansion of healthcare reforms are the major factors propelling the growth of the Asia Pacific sleeping aid market.
Also, the market in Europe is anticipated to expand at a considerable CAGR between 2022 and 2030 due to the region's high rate of sleep aid device adoption, rising diagnostic test demand, and increased awareness of sleep apnea.
“Presence of Key Players & Rising Prevalence of Sleep Disorders”
The need for relevant sleep aid medication increases as sleep disorders become more common. The United States presently controls more than 90% of the North American market's revenue and is anticipated to continue till 2030.
Furthermore, it is anticipated that increased consumer knowledge of sleep aid products and the presence of significant market participants such as Merck and Pfizer in the nation will increase demand for sleeping aids in the United States.
The need for sleeping drugs and gadgets is expected to increase as the elderly and obese population in the United States rises.
“Rising Cases of Insomnia & Rapidly Developing Healthcare Infrastructure”
China’s sleeping aids market is predicted to rise at an impressive CAGR of 8.3% and reach US$ 28.6 billion by 2030.
The growth in healthcare reforms, increase in the number of hospitals with modern equipment, technological developments in the field of sleep aids, increased prevalence of insomnia in the younger population base, and changes in lifestyles are major factors attributed to the market's expansion in the nation.
“Rising Prevalence of Obstructive Sleep Apnea Driving Demand for Sleep Apnea Treatment & Devices”
Sleep apnea is a sleeping disorder characterized by a person's abnormal pattern of breathing when they are asleep. Chronic sleep apnea causes the brain and the body's other organs to get an inadequate oxygen supply, which causes people to have irregular breathing while they sleep.
Elderly patients and those with illnesses such as hypertension, diabetes, cardiovascular disorders, and others are more likely to have such illnesses. Obstructive sleep apnea is the most common type of sleep apnea worldwide, and its treatment requires early detection and the use of sleep apnea devices.
Thus, it is anticipated that the rising elderly population, along with the increasing incidence of this illness globally, will fuel the demand for sleep apnea devices and, in turn, propel market growth throughout the forecast period.
To increase their chances of growth, the top companies in the sleep aids market are focusing on acquisitions, new developments, and product launches. Manufacturers of sleeping aids are increasing product R&D spending as a key part of their business plan to meet the need of a certain patient population. Players in the market are also concentrating on expanding their geographic reach of both new and existing devices.
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Global sales of sleeping aids are expected to increase at a CAGR of 5.4% from 2022 to 2030.
The global sleeping aids market currently accounts for a valuation of US$ 83.1 billion.
The global market for sleeping aids is projected to reach US$ 120 billion by 2030.
The market for sleeping aids in China is expected to surge ahead at 8.3% CAGR and reach US$ 28.6 billion by 2030.
Global sales of sleep apnea devices are expected to increase at 6% CAGR and reach US$ 35.6 billion by 2030-end.
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