Sleep Aids Market to Reach $ 118,825.4 Million, Booming At a CAGR by 2028 | Sanofi S.A., Pfizer, Koninklijke Philips N.V.

Relaxation and sleep aids go hand in hand to promote general wellbeing and mental health. There are many different natural sleep aids that you can use that do not require a prescription from your doctor. Natural sleep aids contain herbal, dietary and natural ingredients which have all been found to help in sleep or relaxation. They are not different from over-the-counter sleep aids, which are commonly antihistamine drugs, and prescription sleep aids, which are usually zolpidem and doxepin prescriptions. Nevertheless, over-the-counter sleep aids may be helpful to some people as well.

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Chamomile is one of many sleep aids that contains a natural sedative effect, though, the chamomile is most commonly used for menstrual cramps, as it helps induce sleep without causing drowsiness during the process. Some research studies have indicated that chamomile has a positive effect on anxiety and erratic behavior. These same studies also indicate that a combination of chamomile and valerian may have a calming effect. Some potential interactions with other medications and prescription drugs are discussed below.

Increasing prevalence of sleep disorders is expected to propel growth of the global sleep aids market over the forecast period. For instance, according to the study, ‘Worldwide and Regional Prevalence Rates of Co-Occurrence of Insomnia and Insomnia Symptoms With Obstructive Sleep Apnea: A Systematic Review and Meta-Analysis’ published in February 2019, the overall prevalence rates of insomnia, any insomnia complaints, difficulty falling asleep, difficulty maintaining sleep, and early morning awakening found in obstructive sleep apnea patients were 38%, 36%, 18%, 42%, and 21%, respectively. Moreover, approval and launch of new products is also expected to aid in growth of the market. For instance, in March 2020, Somnus, a U.S.-based company, launched SOMNUS, an all-natural alternative sleep-aid that does not contain, alcohol, or melatonin.

Increasing geriatric population is expected to offer lucrative growth opportunities for players in the global sleep aids market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034. Moreover, R&D in sleep disorders is also expected to aid in growth of the market. For instance, in April 2020, researchers from University of Regina, Canada, reported investigating the relationship between public safety personnel occupation, sleep problems, and various mental disorder symptoms.
Competitive Analysis

Major players operating in the global sleep aids market include, Sanofi S.A., Merck & Co., Inc., Pfizer, Inc., Koninklijke Philips N.V., GlaxoSmithKline Plc, Sommetrics, Inc., ResMed Inc., Cadwell Laboratories, Inc., Therapix Biosciences Ltd., SleepMed, Inc., Natus Medical Incorporated, DeVilbiss Healthcare LLC, and Compumedics Limited.

Major players in the global sleep aids market are focused on launching new products to expand their product portfolio. For instance, in January 2020, ResMed Inc. launched AirFit F30i, its first tube-up full face CPAP mask.

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Key Benefits:

• This study gives a detailed analysis of drivers and factors limiting the market expansion of Sleep Aids

• The micro-level analysis is conducted based on its product types, end-user applications, and geographies

• Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players

• By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Sleep Aids market

The research study can answer the following Key questions:

• What will be the progress rate of the Sleep Aids Market for the conjecture period, 2021-2028?

• What are the prominent factors driving the Sleep Aids Market across different regions?

• Who are the major vendors dominating the Sleep Aids industry and what are their winning strategies?

• What will be the market scope for the estimated period?

• What are the major trends shaping the expansion of the industry in the coming years?

• What are the challenges faced by the Sleep Aids Market?

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