What's driving the Sleeping Aids Market Size? | Key Players are Sanofi, Natus Medical Incorporated, Compumedics Limited - Official, Pfizer, SleepMed Incorporated, Takeda Pharmaceutical Company Ltd, DeVilbiss Healthcare

The global sleeping aids market generated $69.5 billion revenue in 2017 and is projected to showcase a CAGR of 6.5% during 2018–2023, due to the growing prevalence of insomnia and obstructive sleep apnea (OSA) disorders, rising use of portable sleep apnea devices, increasing government support for start-up companies, growing healthcare facilities, surge in demand for sleeping pills attributed to stressful modern lifestyle, and increasing geriatric population.

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Stressful modern lifestyle is a key driver to the sleeping aids market growth. Lifestyle changes such as, increased consumption of alcohol, caffeine, and tobacco that interrupts the sleeping patterns of an individual, lead to disrupted sleep. This disruption in sleep can cause various sleep disorders, which lead to high demand for sleeping pills. This also increases the risk of chronic diseases, such as diabetes, depression, heart diseases, and obesity. Obesity can lead to serious sleep disorders, such as insomnia and OSA. Furthermore, long working hours, working in different shifts, hectic work environment, and stressful conditions, along with excess workload also hampers the quality of sleep. All these factors lead to an increased adoption of over-the-counter sleeping pills that help an individual fall asleep.

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Globally, key players in the sleeping aids industry are developing new devices and products for the treatment of sleeping disorders. For instance, in March 2018, Drive DeVilbiss Healthcare introduced the next generation Trotter Mobility Chair. The product offers parents and caregivers a lightweight, foldable alternative to heavier wheelchair-style mobility bases. The new generation Trotter features a padded seat and back upholstery at the same low price as the original version. New accessories include angle adjustable footplates, anti-tippers, contoured headwings, headrest extension, canopy, under-seat carrier and Poziform ankle positioners.

In May 2017, Drive DeVilbiss Healthcare introduced, the P903 Full Electric Expandable Width Low Height Long-Term Care (LTC) bed, to its premium line of beds and bedding products. It is equipped with a wide selection of features, making it capable to support up to 600 lbs. weight and can help to reduce resident falls and staff injuries. The bed features various expansion options that would provide comfort to the people, according to their positioning needs and also has a variety of options including various headboard and footboard styles.

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Some of the other players in sleeping aids industry are:
1- Sanofi
2- Natus Medical Incorporated
3- Compumedics Limited - Official
4- Pfizer
5- SleepMed Incorporated
6- Takeda Pharmaceutical Company Ltd
7- DeVilbiss Healthcare

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