Sleep Aids Market Trends, Segment and Future Growth to 2023 - Major Key Players (Sanofi, Merck & Co., Pfizer, Koninklijke Philips N.V. (Philips), GlaxoSmithKline Plc, Care Fusion Corporation, Cadwell, SleepMed).

Sleep Aids Market Overview

Sleep Aids are medical devices or drugs that help a person to fall asleep. Lack of proper sleep cycle, termed as sleep disorders have adverse effects on one’s health and work life. Sleep Disorders are generally a result of varies in sleeping patterns caused by psychiatric problems, medical issues, and environmental issues.

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The larger usage of caffeine, alcohol and tobacco has been leading to sleep disorders in the population. This has been one of the main factor driving the growth of sleep aids market. Further, huge demand for sleeping pills as a result of stressful modern lifestyle, sleep disorder awareness initiative by many organization have also contributed in the rapid growth of the market. Apart from drivers, the sleep aids market also faces some challenges and restraints which include, side effects associated with sleeping aids medications and patent expiration of the treatment pills for sleep disorders.

Sleep Aids Market Forecast Report (2018-2023)

The Global Sleep Aids Market Value worth was USD 67.37 billion in 2018 and estimated to be growing at a CAGR of 6.32%, to reach USD 91.53 billion by 2023.

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Sleep Aids Market Segmentation

The Global sleep aids market is classified on the basis of Sleep disorders, Products and Medication types. Based on the sleep disorder sleep aids market is classified under Restless legs syndrome, Insomnia, Sleep Apnea, Narcolepsy and Sleep walking. By product the market is classifiedinto Mattresses & Pillows, Sleep Laboratories, Medication and Sleep apnea devices. On the basis of Medication types the segmentation is done under Prescription-based Drugs, OTC drugs and the Herbal Drugs. Sleep apnea remains to be the fastest growing segment compared to the other sleep disorders, whereas Mattresses and pillows are expected to continue leading the sleep aids market in upcoming years. On the basis of medication type, prescription medications hold the largest share in the current market.

Sleep Aids Market geographical segmentation

On the basis of geographical analysis, the global sleep aids market is classified under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Sleep Aids market is dominated by North America, with overall market share of over 50% globally. North America was followed by Europe and Asia-Pacific. Asia Pacific is expected to exhibit the CAGR of almost 6.9% against North America’s CAGR of 5.9% over the upcoming years.

Key Developments in the Market

In January 2018, Takeda Pharmaceutical Co. Ltd. (Takeda) was announced an agreement with Unipharm Inc., to acquire the range of over-the counter (OTC) medicines and food supplements business unit. The partnership targeted the promotion and sale of these products in Russia, where Takeda already has a strong presence.
In August 2017, EarlySense LTD, the inventor for a sleep monitor known as EarlySense Live, and SleepMed Inc., announced a partnership agreement, to provide consumers with a solution that would help them to identify the sleep disorders that may impact their health
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Major Players:

Major players in the current market are :

Sanofi
Merck & Co.
Pfizer
Koninklijke Philips N.V. (Philips)
GlaxoSmithKline Plc
Care Fusion Corporation
Cadwell
SleepMed Natus Medical manufactures
DeVilbiss Healthcare LLC.
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