Overview and Scope
Sleeping aids refer to a class of psychoactive medications that are used to treat insomnia and sporadic sleeplessness. Sleeping aids can help decrease daytime tiredness and impaired thinking caused by sleep loss.
Sizing and Forecast
The sleeping aids market size has grown strongly in recent years. It will grow from $83.66 billion in 2023 to $90.09 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to increased stress and sleep disorders, aging population, lifestyle changes, awareness and education, consumer preference for natural remedies.
The sleeping aids market size is expected to see strong growth in the next few years. It will grow to $124.41 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to wellness and self-care trends, mental health awareness, home-based sleep solutions, personalized sleep solutions, natural and non-invasive options. Major trends in the forecast period include wellness and self-care emphasis, technological integration, sleep hygiene education, regulatory focus on safety.
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Segmentation & Regional Insights
The sleeping aids market covered in this report is segmented –
1) By Product: Mattresses And Pillows, Sleep Laboratories, Medications, Prescription-based Drugs, OTC Drugs, Herbal Drugs, Sleep Apnea Devices
2) By Indication: Insomnia, Sleep Deprivation, Narcolepsy, Sleep Apnea, Other Indications
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, E-Commerce, Drug Stores, Other Distribution Channels
North America was the largest region in the sleeping aids market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sleeping aids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing incidence of sleep disorders is expected to propel the growth of the sleeping aids market going forward. Sleep disorders refer to disorders that occur because of a lack of sleep. Sleep disorders affect the overall health of the person, and hence sleeping aids are widely used as medications for reducing the cognitive impairment brought on by sleep deprivation in addition to enhancing sleep in the short term. For instance, in January 2022, according to the National Center for Biotechnology Information, a US-based government department, sleep problems were projected to be present in 52.39% of COVID-19 patients, 45.96% of children and adolescents, 42.47% of healthcare workers, 41.50% of special populations with healthcare needs, 41.16% of university students, and 36.73% of the general population. This indicates that there is an increasing incidence of sleep disorders. Therefore, the increasing incidence of sleep disorders drives the sleeping aids market.
Key Industry Players
Major companies operating in the sleeping aids market report are Cadwell Industries Inc., Compumedics Limited, DeVilbiss Healthcare Pvt. Ltd., Merck & Co. Inc., Natus Medical Incorporated, Novartis AG, Pfizer Inc., Sanofi SA, Sinovac Biotech Ltd., Sleepmed Inc., Acelity L.P. Inc., Eisai Co. Ltd., ResMed Inc., Fisher & Paykel Healthcare Corporation Limited, Braebon Medical Corporation, Löwenstein Medical GmbH & Co. KG, Takeda Pharmaceutical Company Limited, Koninklijke Philips N.V., AstraZeneca plc, Biodiem Ltd., Apnea Sciences Corp., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Vanda Pharmaceuticals Inc., Cadila Healthcare Limited, Johnson & Johnson Services Inc., Mylan N.V., BMC Medical Co. Ltd., Cleveland Medical Devices Inc., Serta Simmons Bedding LLC, Tempur Sealy International Inc., Sleep Number Corporation, Casper Sleep Inc., Purple Innovation Inc., Leesa Sleep LLC
The sleeping aids market report table of contents includes:
- Executive Summary
- Sleeping Aids Market Characteristics
- Sleeping Aids Market Trends And Strategies
- Sleeping Aids Market – Macro Economic Scenario
- Global Sleeping Aids Market Size and Growth
- Sleeping Aids Market Segmentation
- Sleeping Aids Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Sleeping Aids Market
- Sleeping Aids Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Sleeping Aids Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Sleeping Aids Market, Segmentation By Indication, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Sleeping Aids Market, Segmentation By Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…………..
Table 74: Cadwell Industries Inc. Financial Performance
Table 75: Compumedics Limited Financial Performance
Table 76: DeVilbiss Healthcare Pvt. Ltd. Financial Performance
Table 77: Merck & Co. Inc. Financial Performance
Table 78: Natus Medical Incorporated Financial Performance
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