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PUNE, MAHARASHTRA, INDIA, September 15, 2023/EINPresswire.com/ -- The latest market research study released by HTF MI on Global Sleeping Aids Market evaluates the risk side analysis, highlighting opportunities, and leveraging strategic and tactical decision-making support. The study provides information on market trends and development, growth drivers, technologies, and the changing investment structure of the Sleeping Aids Market. Some of the key players profiled in the study are Pfizer Inc. (United States) Takeda Pharmaceutical Company Limited. (Japan) Teva Pharmaceutical Industries Ltd. (Israel) Natus Medical Incorporated (United States) Compumedics Limited (Australia) Merck & Company, Inc. (United States) Sanofi S.A.(France) GlaxoSmithKline Plc (United Kingdom) Serta International (United States).

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What is Sleeping Aids?
Sleeping aids, which include drugs and medical equipment, are used to diagnose and treat a number of sleep disorders, such as sleep apnea, restless legs syndrome, and insomnia. A biological necessity for memory and other cognitive activities, controlling immune response, and preserving metabolic equilibrium is sleep. Poor sleep quality is caused by sleep disorders, which can also be caused by psychological issues, physical disturbances, environmental issues, and medical conditions. These sleep issues have a detrimental effect on human health in contrast to diabetes, hypertension, arthritis, and stroke. The significant lifestyle changes that have led to changes in worldwide population sleep patterns are what are fueling the market expansion for sleeping aids. Additionally, it is projected that the increased demand for high-quality healthcare will fuel market expansion, along with rising consumer income and better access to medical services. Additionally, there are several potentials for the expansion of the sleep aids business due to the market's increasing acceptance of new products and the government's expanding investment in R&D.

Attributes Details
Study Period -2029
Base Year 2022
Largest Market North America
Unit Value (USD Million)
Key Companies Profiled Pfizer Inc. (United States) Takeda Pharmaceutical Company Limited. (Japan) Teva Pharmaceutical Industries Ltd. (Israel) Natus Medical Incorporated (United States) Compumedics Limited (Australia) Merck & Company, Inc. (United States) Sanofi S.A.(France) GlaxoSmithKline Plc (United Kingdom) Serta International (United States)
CAGR 6.7%

The Global Sleeping Aids market is expected to see growth rate of 6.7% and may see market size of USD8,682 Million by 2029.The Market is currently pegged at USD5854.32 Million. The study covers a detailed analysis segmented by key business segments i.e. by type (Medication Mattresses and Pillows Sleep Laboratories Sleep Apnea Devices Others) , by application (Insomnia Restless Legs Syndrome Sleep Apnea Narcolepsy Sleepwalking Others) and major geographies. The competition is expected to become even more intense in the coming years due to new strategies taken up by players in the Sleeping Aids market. To help clients improve their revenue shares in the industry, Sleeping Aids research study provides an in-depth analysis of the competition and offers information on the product/service landscape of leading companies. Additionally, this Sleeping Aids market report suggests strategies that players can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities. The report offers several leading players, some of them are Pfizer Inc. (United States), Takeda Pharmaceutical Company Limited. (Japan), Teva Pharmaceutical Industries Ltd. (Israel), Natus Medical Incorporated (United States), Compumedics Limited (Australia), Merck & Company, Inc. (United States), Sanofi S.A.(France), GlaxoSmithKline Plc (United Kingdom), Serta International (United States).

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Market Growth Drivers:

The global sleep aids market is projected to enlarge at a rapid rate over the next few years, driven by the increasing dominance of sleeplessness, sleep apnea, and other sleep-related disorders. Advances in the type of sleeping aids available have also subsidized to the growth of the market. Sleep-inducing mattress and pillows are becoming increasingly popular around the world, which has had a direct impact on the global market for sleep aids. Additionally, the emergence of a rare sleep disorder which can be coped and treated with sleep aids, has also backed to the influx of extensive revenues into the market.

Challenges:
The high risk associated with the use of Sleep Aid is hindering the expansion of the market. Many individuals are taking sleeping pills regular after consulting a medical professional; however, this can have long-term damaging effects on the consumer, for instance a burning sensation in the hands or legs, headaches, diarrhea, lack of sleep, weakness, and other illnesses. The easy availability of insomnia treatment drugs and the lack of certification necessities are contributing to the exploitation of these drugs, as well as other issues for instance substance abuse.

Opportunities:
The sleeping aids industry is projected to experience a surge in growth due to the rising disposable income and the advantages associated with the use of sleep aids. Consumers' preference for luxurious lifestyles and improved access to medical services have created a demand for quality healthcare, which is expected to contribute to the growth of the market over the forecast period. Furthermore, the approval of new products and the increasing adoption of sleep aids devices in developing countries are expected to create lucrative opportunities for the global sleep aid market.


Key highlights of the Global Sleeping Aids market Study:

• CAGR of the market during the forecast period 2022-2029
• In-depth information on growth factors that will accelerate the Sleeping Aids market in next few years.
• Detailed Insights on futuristic trends and changing consumer behavior in Sleeping Aids
• Forecast of the Global Sleeping Aids market size and its contribution to the parent market by type, application, and by country.
• A broad view of customer demand in Sleeping Aids Industry
• Uncover market’s competitive landscape and in-depth information on various players
• Comprehensive information about factors that will challenge the growth of Sleeping Aids players

Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
• Significant shifts in technology and cost structure of Sleeping Aids Industry
• A tipping point in globalization
• The challenges due to regulatory compliance in Sleeping Aids Market
• A major slowdown in developed economies
• New forms of competition developing in Sleeping Aids Industry

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