The Global Sleeping Aids Market size is projected to surpass $138 Billion by 2030; with a CAGR of 6.7% from 2021 to 2030.
Sleeping aids are a medical specialty or subspecialty devoted to the diagnosis and therapy of sleep disturbances and disorders which are caused due to factors such as psychiatric disorders (Depression, insomnia, and anxiety), medical issues (asthma), environmental problems (light, noise, temperature, etc.) and others. These sleep disorders lead to a number of chronic diseases, such as high diabetes, arthritis, blood pressure, and stroke. So, people are now aware of these disorders and trying to treat and diagnose these disorders at an early stage as soon as possible.
The rise in demand for sleeping pills, changing consumer lifestyle, increase in geriatric and obese population, the impact of pandemics such as COVID 19 and increasing disposable income are the factors propelling the growth of the global sleeping aids market. Rising awareness about sleep disorders and advanced technologies might provide several growth opportunities in the forecasted year. However, various side effects of sleep aids medication and patent expiration may hinder the growth of the market.
The global sleeping aids market is segmented on basis of product and sleep disorder. The sleeping aids market is segmented by products such 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 disorders as insomnia, sleep apnea, restless legs syndrome, narcolepsy, sleep walking, and other sleep disorders.
Based on geography, the global sleeping aids market is segmented into North America, Europe, Asia Pacific, 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, the Middle East, and Africa.
Major companies operating in the global Sleeping Aids market are Natus Medical Incorporated, Teva Pharmaceutical Industries Limited, Takeda Pharmaceutical Company Limited, Merck And Co., Sanofi, GlaxoSmithKline Plc., Serta International, CareFusion Corporation, Pfizer, and Compumedics Limited, among others.
The key takeaways from the report
Scope of Global Sleeping Aids Market
Sleep disorder Segments