Global Sleeping Aids Market Report 2020: Market Generated a Revenue of $78.7 Billion in 2019 and is Expected to Reach a Value of $162.5 Billion by 2030
DUBLIN, Nov. 19, 2020 /PRNewswire/ -- The "Sleeping Aids Market Research Report: By Offering, Sleep Disorder - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
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
4.1.1.1 Mattresses and pillows
4.1.1.2 Sleep laboratory services
4.1.1.3 Medication
4.1.1.3.1 Prescription drugs
4.1.1.3.2 OTC drugs
4.1.1.3.3 Herbal remedies
4.1.1.4 Sleep apnea devices
4.1.1.4.1 PAP devices
4.1.1.4.2 Facial interface
4.1.1.4.3 Oral appliances
4.1.1.4.4 ASVs
4.1.1.4.5 Others
4.1.1.5 Others
4.1.2 By Sleep Disorder
4.1.2.1 Insomnia
4.1.2.2 Sleep apnea
4.1.2.3 RLS
4.1.2.4 Narcolepsy
4.1.2.5 Sleep walking
4.1.2.6 Others
4.2 Market Dynamics
4.2.1 Trends
4.2.1.1 Shifting consumer preference toward herbal OTC drugs
4.2.1.2 Increasing demand for home sleep tests
4.2.1.3 Increased usage of CPAP therapy devices
4.2.2 Drivers
4.2.2.1 Growing prevalence of insomnia and OSA
4.2.2.2 Rising use of portable sleep apnea devices
4.2.2.3 Increasing government support for startup companies
4.2.2.4 Growing network of healthcare facilities
4.2.2.5 Growing adoption of wearable monitors and sensors
4.2.2.6 Surge in demand for sleeping pills, attributed to stressful modern lifestyle
4.2.2.7 Increasing geriatric population
4.2.2.8 Impact analysis of drivers on market forecast
4.2.3 Restraints
4.2.3.1 Long waiting time for sleep care services
4.2.3.2 Shortage of skilled medical professionals
4.2.3.3 Patent expiration of sleep disorder medications
4.2.3.4 Side-effects associated with sleep medications
4.2.3.5 Impact analysis of restraints on market forecast
4.2.4 Opportunities
4.2.4.1 Rising disposable income
4.2.4.2 Increasing patient pool in emerging economies
4.2.4.3 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
- Sanofi
- Merck & Co. Inc.
- Koninklijke Philips N.V.
- Pfizer Inc.
- SleepMed Inc.
- Cadwell Industries Inc.
- Natus Medical Incorporated
- Drive DeVilbiss Healthcare
- Takeda Pharmaceutical Company Limited
- Compumedics Limited
- Tempur Sealy International Inc.
- GlaxoSmithKline plc
- Serta Simmons Bedding LLC
- ResMed Inc.
- Fisher & Paykel Healthcare Limited
- Lowenstein Medical GmbH & Co. KG
- BMC Medical Co. Ltd.
- SomnoMed Limited
- Braebon Medical Corporation
For more information about this report visit https://www.researchandmarkets.com/r/ig9mch
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