Sleep Aids Market Trends and Insights By Product (Mattresses & Pillows, Medications, Sleep Apnea Devices, and Others), By Sleep-Disorder (Insomnia, Sleep Apnea, Restless Legs Syndrome, Narcolepsy, Sleep Walking, and Other Sleep Disorders), and By Region (North America, Europe, Asia-Pacific, and Rest Of The World), Competitive Market Growth, Size, Share and Forecast to 2032

New York, USA, June 07, 2023 (GLOBE NEWSWIRE) -- Sleep Aids Market Overview: 

According to a Comprehensive Research Report by Market Research Future (MRFR), “Sleep Aids Market Information by Product, Sleep Disorder and Region - Forecast till 20302”, the market is projected to grow from USD 64.5 Billion in 2023 to USD 112.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.20% during the forecast period (2023 - 2032).

Sleep Aids Market Trends:

Market Drivers 

Increasing Prevalence of Sleep Disorders to Boost Market Growth 

The market for sleep aids is significantly influenced by the increasing prevalence of sleep disorders such as insomnia, sleep apnea, & restless legs syndrome. The need for sleep aids & therapies rises as more people encounter sleep-related problems.

Market Opportunities 

Lifestyle Factors and Stress to offer Robust Opportunities 

High stress levels, tight job schedules, and unpredictable sleep habits are frequent features of contemporary living. These elements play a part in sleep problems and disruptions. As a result, many look for sleep aids to lengthen and increase the quality of their sleep. Thus lifestyle factors and stress will offer robust opportunities for the sleep aids market in the assessment period.

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Report Scope:

Report Attribute	Details
Market Size in 2032	USD 112.6 Billion
CAGR	7.20%
Base Year	2022
Forecast Period	2023-2032
Historical Data	2021
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Product And Sleep Disorder
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers	The increase in the elderly and overweight people is driving the market growth
	Growing efforts to combat this ailment are expected to lead to an increase in the demand for sleeping pills

Market Restraints and Challenges 

Side Effects to act as Market Restraints 

Various side effects resulting from sleep aids medications on the human health coupled with increase in patent expiration of medicines may act as market restraints over the forecast period.

Sleep Aids Market Competitive Outlooks:

Eminent industry players profiled in the global sleep aids market report include

• Acelity L.P. Inc. (Kinetic Concepts Inc.)
• AstraZeneca Plc
• Biodiem
• Cadwell Industries Inc.
• Compumedics Limited
• CSL Limited
• Drive
• Drive DeVilbiss Healthcare Inc.
• Eisai Co.Ltd.
• Emergent Biosolutions
• F.Hoffmann-La Roche Ltd.
• Fisher & Paykel Healthcare Limited
• Gamma Vaccines Pty Ltd.
• GlaxoSmithKline Plc.
• Koninklijke Philips N.V.
• Merck and Co. Inc.
• Natus Medical Incorporated
• Novartis AG
• Pfizer Inc.
• ResMed Inc.
• Sanofi S.A.
• Serta Simmons Bedding LLC
• Sinovac Biotech Ltd.
• SleepMed Inc.
• Takeda Pharmaceutical Company Limited
• Tempur Sealy International Inc.

Browse In-depth Market Research Report (128 Pages) on Sleep Aids: https://www.marketresearchfuture.com/reports/sleep-aids-market-11738

Sleep Aids Market Segmentation:

The global sleep aids market is bifurcated based on sleep disorder and product.

By product, mattresses and pillows will lead the market over the forecast period owing to improvements in technology for sleep aids, a rise in the use of sleep aids, an increase in the prevalence of sleep disorders including insomnia, and a rise in sophisticated and successful product launches.

By sleep disorder, insomnia will domineer the market over the forecast period related to the rise in senior population, rise in sleep apnea incidence, a decline in population-wide physical activity, and increase in healthcare knowledge.

COVID-19 Analysis of Sleep Aids Market

The COVID-19 pandemic had both favorable and unfavorable consequences on the market for sleep aids. Due to multiple factors, including health worries, economic uncertainty, social isolation, and interrupted habits, the pandemic resulted in an increase in stress, anxiety, & sleep problems. Many folks who had never had sleep problems began to have trouble getting to sleep/staying asleep. The need for sleep aids—both prescription and over-the-counter—rose as a result. Consumers are increasingly buying sleep aids online as a result of lockdowns and social isolation policies. Sales on e-commerce sites and in online pharmacies increased as more consumers looked for easy, frictionless methods to get sleep medications. The epidemic hastened the introduction of telemedicine and virtual consultations, enabling people to get prescription medications for sleep aids and seek medical advice without physically visiting healthcare facilities. This development ensured that individuals in need will always have access to sleep aids. On the other hand, market expansion was hampered by limits on the non-essential healthcare services and supply chain interruptions.

Sleep Aids Market Regional Analysis:

North America to Command Sleep Aids Market 

With a 45.80% market share in 2022, North America emerged as the market leader. The market share can be explained by the rising incidence of sleep problems in the country owing to rising cigarette and alcohol consumption. Additionally, the North American sleep aids market in the United States had the biggest market share, while the market in Canada had the quickest rate of expansion. The rise in cases of sleep disorders like sleep apnea, a rise in the demand for sleep aids, the availability of cutting-edge healthcare facilities with skilled medical staff, an increase in the number of R&D activities with a large presence of eminent players, and a rise in government investment in the healthcare system are all credited with the growth. Besides, the increase in elderly and overweight people is also fueling market growth.

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APAC to Have Admirable Growth in Sleep Aids Market 

From 2023 to 2032, the market for sleep aids in Asia-Pacific is anticipated to see the quickest CAGR. The greatest pace of business expansion in the APAC area is attributable to both the rising profit per capita and the growing public consciousness of the adverse effects on the people. Additionally, the Indian market for sleep aids was expanding at the quickest pace in the Asia-Pacific region, while China's market for sleep aids had the greatest market share. Additionally, the Asia-Pacific sleep aid market is predicted to grow at a high CAGR for Japan and China, primarily as a result of improvements in healthcare infrastructure, a surge in the number of hospitals with cutting-edge equipment, the development of the R&D sector, an increase in healthcare reforms, & technological advances in sleep aids. The Asia Sleep Association estimates that between 50 and 70 million individuals in China have sleep disorders, with 10% of the populace reporting chronic insomnia and 30% having occasional problems. 25 million individuals in China, India, & Japan have obstructive sleep apnea, with 24-31 percent of men and 9-21 percent of women affected by the condition.

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