The global sleeping aids market generated a revenue of $78.7 billion in 2019 and is predicted to progress at a CAGR of 7.1% from 2020 to 2030 to attain a value of $162.5 billion by 2030.
The major factors driving the progress of the market are the increasing number of healthcare facilities, growing usage of portable sleep apnea devices, and the rising adoption of sensors and wearable monitors.
Besides the aforementioned factors, the increasing prevalence of obstructive sleep apnea (OSA) and insomnia and the soaring geriatric population around the world are also propelling the expansion of the sleeping aids market. As per the findings of the American Sleep Apnea Association, over 50 million Americans are diagnosed with 80 different sleep disorders every year. Moreover, the organization found that 20 - 30 million people in the U.S. suffer from various intermittent sleep problems every year.
According to the organization, insomnia is the most prevalent sleep disorder, with nearly 30% of the adults living in the U.S. reporting short-term issues and around 10% reporting chronic insomnia. As the medical treatments prescribed for OSA and insomnia involve sleeping aids, the rising incidence of these disorders is fueling the growth of the market. Besides this, the various lifestyle changes in people such as the high consumption of caffeine, tobacco, and alcohol is also propelling the market advancement.
Furthermore, the increasing working hours, high workload and work pressure, and hectic work environment massively push up the stress levels and affect the quality of sleep. This subsequently boosts the sales of over-the-counter (OTC) sleeping pills, which help improve the quality of sleep, throughout the globe. When offering is taken into consideration, the sleeping aids market is classified into mattresses and pillows, sleep laboratory services, sleep apnea devices, and medication.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction 4.1 Definition of Market Segments 4.1.1 By Offering 184.108.40.206 Mattresses and pillows 220.127.116.11 Sleep laboratory services 18.104.22.168 Medication 22.214.171.124.1 Prescription drugs 126.96.36.199.2 OTC drugs 188.8.131.52.3 Herbal remedies 184.108.40.206 Sleep apnea devices 220.127.116.11.1 PAP devices 18.104.22.168.2 Facial interface 22.214.171.124.3 Oral appliances 126.96.36.199.4 ASVs 188.8.131.52.5 Others 184.108.40.206 Others 4.1.2 By Sleep Disorder 220.127.116.11 Insomnia 18.104.22.168 Sleep apnea 22.214.171.124 RLS 126.96.36.199 Narcolepsy 188.8.131.52 Sleep walking 184.108.40.206 Others 4.2 Market Dynamics 4.2.1 Trends 220.127.116.11 Shifting consumer preference toward herbal OTC drugs 18.104.22.168 Increasing demand for home sleep tests 22.214.171.124 Increased usage of CPAP therapy devices 4.2.2 Drivers 126.96.36.199 Growing prevalence of insomnia and OSA 188.8.131.52 Rising use of portable sleep apnea devices 184.108.40.206 Increasing government support for startup companies 220.127.116.11 Growing network of healthcare facilities 18.104.22.168 Growing adoption of wearable monitors and sensors 22.214.171.124 Surge in demand for sleeping pills, attributed to stressful modern lifestyle 126.96.36.199 Increasing geriatric population 188.8.131.52 Impact analysis of drivers on market forecast 4.2.3 Restraints 184.108.40.206 Long waiting time for sleep care services 220.127.116.11 Shortage of skilled medical professionals 18.104.22.168 Patent expiration of sleep disorder medications 22.214.171.124 Side-effects associated with sleep medications 126.96.36.199 Impact analysis of restraints on market forecast 4.2.4 Opportunities 188.8.131.52 Rising disposable income 184.108.40.206 Increasing patient pool in emerging economies 220.127.116.11 Initiatives by various organizations for increasing awareness 4.3 Porter's Five Forces Analysis 4.4 Impact of COVID-19
Chapter 5. Global Market Size and Forecast 5.1 By Offering 5.1.1 Sleeping Aid Medication Market, by Type 5.1.2 Sleep Apnea Devices Market, by Type 5.2 By Sleep Disorder 5.3 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape 11.1 Product Benchmarking of Key Players 11.2 Strategic Developments of Key Players 11.2.1 Product Launches and Approvals 11.2.2 Mergers and Acquisitions 11.2.3 Partnerships, Collaborations and Agreements 11.2.4 Others
Chapter 12. Company Profiles 12.1 Business Overview 12.2 Product and Service Offerings 12.3 Key Financial Summary