Global Sleeping Aids Market is Estimated to Reach $96 Billion by 2024, Says Accurize Market Research
Global sleeping aids market report published by Accurize Market Research forecast that the global market is expected to reach $96 billion by 2024; growing at a CAGR of 6.2% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Upsurge in demand for sleeping pills and changing consumers’ lifestyle to drive the growth of the market
Upsurge in demand for sleeping pills, changing consumers’ lifestyle, increase in geriatric and obese population, and increasing disposable incomefuels the demand for the global sleeping aids market. Moreover,growing awareness about sleeping ailments and advanced technologies also boosts the growth of the market.
Market Segmentation
The global sleeping aids market has been bifurcated on the basis of product, sleep disorder and geography. The sleeping aids market is segmented by product as mattresses and pillows, sleep laboratories, medication (prescription based drugs, herbal drugs, OTC drugs), sleep apnea devices and others. Further, the market is segmented by sleep disorder as insomnia, sleep apnea, restless legs syndrome, narcolepsy, sleep walking, and other sleep disorders.
By geography the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, South Korea, and others while RoW is bifurcated into South America, Middle East, and Africa.
“Mattresses & pillows accounted the largest market share in the product segment", says Accurize
By product segment, mattresses & pillows held the major market share in 2017, followed by sleep laboratories. Additionally, by sleep disorder segment, insomnia held the largest market share in 2017, followed by sleep apnea.
“North America dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, North America accounted for the largest market share. Moreover, in terms of growth, Asia-Pacific is anticipated to grow with the fastest CAGR of 7.9% during the forecast period 2017 to 2025, driven byrising geriatric population and increase in demand for sleeping pills.
Top players in the market
The key market players include Takeda Pharmaceutical Company Limited, Merck And Co., Sanofi, GlaxoSmithKline Plc., Serta International, Natus Medical Incorporated, Teva Pharmaceutical Industries Limited, CareFusion Corporation, Pfizer, and Compumedics Limited among others.
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