+1 915 229 3004 (U.S.) | 
+44 7452 242832 (U.K.)
+1 915 229 3004 (U.S.) | +44 7452 242832 (U.K.)
Global Sleep Aids Market Size was valued at USD 60.4 Billion in 2022. The Sleep Aids market industry is projected to grow from USD 64.9 Billion in 2023 to USD 112.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.60% during the forecast period (2023 - 2032). Ageing and obesity rates rising, lifestyle changes changing sleep patterns, rising consumer income, and an increase in the need for high-quality healthcare leading to an expansion of medical services, are the key market drivers enhancing the market growth.
Download Free Sample to learn more about this report
Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The use of sleep aids and an increase in non-refundable income are driving the expansion of the market for sleep aids. Additionally, there are more elderly and obese people than ever before, which has raised the incidence of sleep disorders. The number of people with sleep problems is predicted to rise as a result, which will contribute to the market's expansion. In addition, as financial conservatism grows, the development of sleeping aid products helps them acquire popularity and fill market gaps, which is predicted to create profitable market expansion prospects.
The market demand for sleep aids has increased due to the increasing prevalence of tiredness worldwide. All age groups have a universal need for sleep assistance. Due to alterations in lifestyle that affect sleep patterns, better access to healthcare resources, rising consumer income, and escalating demand for high-quality healthcare, the market for sleep aids is growing. Major market players in sleep aid therapies are focusing on product advances, accomplishments, and the launch of new products in order to increase their development opportunities. Manufacturers of sleep aids are boosting their spending on R&D products to address the demographic demand of some patients. The usefulness of sleep aids was agreed upon by many medical professionals. Age-related restlessness complaints have increased, which has enhanced the need for sleep aids globally. In the near future, healthcare specialists are anticipated to create new sleep aids. It is anticipated that sleep apnea devices will be approved in the following years. The difficulties associated with sleeplessness will hasten the health association's attempts to create new, improved, and more streamlined sleeping aids. The growth of the world market for sleeping aids is strongly impacted by changes in people's lifestyles. It is projected that the global market for sleep aids would produce significant financial gains in the upcoming years.
The market is growing due to the rise in patients with sleep disorders brought on by an aging and obese population. The importance of using sleep aids and rising non-refundable income are driving the market expansion for sleeping aids. It is anticipated that the increased attempts of the world's population to treat this condition would raise demand for sleeping medicines. The rise of the global market for sleeping aids is predicted to benefit from the rising use of medicines by people who experience sleep disorder breathing. Due to the numerous detrimental disease-related symptoms they are experiencing, this sort of patient is far more likely to contract an infection. However, the evolving sleeping habits of the global population as a result of altering lifestyles is a significant additional element influencing the growth of the market for sleeping aids. As a result of the COVID-19 epidemic's varied importance, it is projected that current product advancements with amended recommendations will have a favorable impact on market expansion after the pandemic. Thus, driving the Sleep Aids market revenue.
The global Sleep Aids market segmentation, based on Sleep-Disorder, includes insomnia, sleep apnea, restless legs syndrome, narcolepsy, sleep walking, and other sleep disorders. The insomnia segment accounted for the largest market share in 2022 and is anticipated to dominate the market for sleeping aids and its governance in the industry throughout the forecast period due to the rise in healthcare awareness, the rising prevalence of sleep apnea, the decline in people's physical activity, and the advancement of the geriatric population.
The global Sleep Aids market segmentation, based on Product, includes mattresses & pillows, medications, sleep apnea devices, and others. The mattresses and pillows segment dominated the market for sleep aids in 2022 and is anticipated to hold this position throughout the projection. The configuration of the beds and pillows is likely to change as industrial technology continues to progress.
Download Free Sample to learn more about this report
Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
By region, Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Sleep Aids Market dominated the global market in 2022 with 45.80% share. The market share may be explained by the rising incidence of sleep problems in the country as a result of rising tobacco and alcohol consumption. Further, In the North American area, the U.S. Sleep Aids market had the biggest market share, while the Canada Sleep Aids market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Download Free Sample to learn more about this report
Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Europe Sleep Aids market accounts for the second-largest market share. The market is expected to grow as a result of the presence of important corporate organizations in Europe and the growing consumer awareness of products that promote sleep excellence and support with sleep. Further, In the European region, the German Sleep Aids market had the biggest market share, and the U.K. Sleep Aids market had the quickest rate of growth.
The Asia Pacific Sleep Aids market is expected to register fastest CAGR from 2023 to 2032. The highest pace of business expansion in the Asia-Pacific area is attributable to both the rising profit per capita and the growing public consciousness of the adverse effects on the people. Moreover, In the Asia-Pacific region, the Indian Sleep Aids market had the quickest rate of growth while China's Sleep Aids market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Sleep Aids market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Sleep Aids sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Sleep Aids sector. Major players in the Sleep Aids market, including Acelity L.P. Inc. (Kinetic Concepts, Inc.), AstraZeneca Plc, Biodiem, Cadwell Industries Inc., Compumedics Limited, CSL Limited, Drive, Drive DeVilbiss Healthcare Inc., Eisai Co., Ltd., Emergent Biosolutions, F.Hoffmann-La Roche Ltd., Fisher & Paykel Healthcare Limited, Gamma Vaccines Pty Ltd., GlaxoSmithKline Plc., Koninklijke Philips N.V., Merck and Co. Inc., Natus Medical Incorporated, Novartis AG, Pfizer Inc., ResMed Inc., Sanofi S.A., Serta Simmons Bedding LLC, Sinovac Biotech Ltd., SleepMed Inc., Takeda Pharmaceutical Company Limited, and Tempur Sealy International Inc., are attempting to increase market demand by investing in research and development operations.
Eisai Co Ltd (Eisai), a pharmaceutical company, discovers, develops, produces, and markets pharmaceuticals, including over-the-counter, generic, and prescription medications. The organization's research interests are oncology and neurology. The proton pump inhibitors Pariet/AcipHex, Aricept, perampanel, Halaven, an anti-cancer drug, and Fycompa tablets for the treatment of peripheral neuropathy and epilepsy are among the primary products made by Eisai. In December 2019, the USFDA granted a new drug tender for DAYVIGOTM (Lemborexant), an orexin antagonist binding receptor that is internally revealed and technologically improved. It has been authorized to use lemborexant, also known as DAYVIGOTM, to treat the signs of adult-onset insomnia brought on by sleep-related problems.
A healthcare company called GSK plc (GSK) specializes in the development, manufacturing, and marketing of generic drugs, specialty drugs, and vaccines. It offers medicines for the treatment of illnesses like HIV, cancer, respiratory, immuno-inflammatory, antiviral, metabolic, cardiovascular, urogenital, antibacterial, dermatological, and unusual problems. Additionally, the company offers over-the-counter (OTC) remedies for treating pain, nutrition, and skin issues. GSK reported in July 2018 that a contract had been signed to influence how inherited attitudes affect the adoption of innovative treatments.
· Acelity L.P. Inc. (Kinetic Concepts, Inc.)
· AstraZeneca Plc
· Biodiem
· Cadwell Industries Inc.
· Compumedics Limited
· CSL Limited
· Drive
· Drive DeVilbiss Healthcare Inc.
· Eisai Co., Ltd.
· Emergent Biosolutions
· F.Hoffmann-La Roche Ltd.
· Fisher & Paykel Healthcare Limited
· Gamma Vaccines Pty Ltd.
· GlaxoSmithKline Plc.
· Koninklijke Philips N.V.
· Merck and Co. Inc.
· Natus Medical Incorporated
· Novartis AG
· Pfizer Inc.
· ResMed Inc.
· Sanofi S.A.
· Serta Simmons Bedding LLC
· Sinovac Biotech Ltd.
· SleepMed Inc.
· Takeda Pharmaceutical Company Limited
· Tempur Sealy International Inc.
August 2021: ResMed launched the new AirSense 11 sleep apnea device in an effort to fill the gap left by Philips' CPAP recall.
July 2021: As the first oral medication for all phases of the Trypanosoma brucei gambiense form of sleeping sickness, the FDA has approved Fexinidazole from Sanofi.
· Mattresses & Pillows
· Medications
· Sleep Apnea Devices
· Others
· Insomnia
· Sleep Apnea
· Restless Legs Syndrome
· Narcolepsy
· Sleep Walking
· Other Sleep Disorders
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 60.4 Billion |
|
Market Size 2023 |
USD 64.9 Billion |
|
Market Size 2032 |
USD 112.7 Billion |
|
Compound Annual Growth Rate (CAGR) |
7.60% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Product, Sleep-Disorder, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Acelity L.P. Inc. (Kinetic Concepts, Inc.), AstraZeneca Plc, Biodiem, Cadwell Industries Inc., Compumedics Limited, CSL Limited, Drive, Drive DeVilbiss Healthcare Inc., Eisai Co., Ltd., Emergent Biosolutions, F.Hoffmann-La Roche Ltd., Fisher & Paykel Healthcare Limited, Gamma Vaccines Pty Ltd., GlaxoSmithKline Plc., Koninklijke Philips N.V., Merck and Co. Inc., Natus Medical Incorporated, Novartis AG, Pfizer Inc., ResMed Inc., Sanofi S.A., Serta Simmons Bedding LLC, Sinovac Biotech Ltd., SleepMed Inc., Takeda Pharmaceutical Company Limited, and Tempur Sealy International Inc. |
|
Key Market Opportunities |
Growing approvals for the product and funding from the government |
|
Key Market Dynamics |
The increase in the elderly and overweight people and the changing sleep pattern of the global population triggered by changing lifestyles |
The global Sleep Aids Market was valued at USD 60.4 billion in 2022, and it is estimated to reach USD 112.7 billion by 2032.
The global market is projected to grow at a CAGR of 7.60% during the forecast period, 2023-2032.
North America had the largest share in the global market.
The key players in the market are Acelity L.P. Inc. (Kinetic Concepts, Inc.), AstraZeneca Plc, Biodiem, Cadwell Industries Inc., Compumedics Limited, CSL Limited, Drive, Drive DeVilbiss Healthcare Inc., Eisai Co., Ltd., Emergent Biosolutions, F.Hoffmann-La Roche Ltd., Fisher & Paykel Healthcare Limited, Gamma Vaccines Pty Ltd., GlaxoSmithKline Plc., Koninklijke Philips N.V., Merck and Co. Inc., Natus Medical Incorporated, Novartis AG, Pfizer Inc., ResMed Inc., Sanofi S.A., Serta Simmons Bedding LLC, Sinovac Biotech Ltd., SleepMed Inc., Takeda Pharmaceutical Company Limited, and Tempur Sealy International Inc.
The Mattresses & Pillows Product dominated the market in 2022.
The Insomnia Sleep-Disorder had the largest share in the global market.
Report Code :
RL6581
Published on :
Aug 2023
Request a Free Sample Report
Speak to Analyst