Sleeping Aids Market 2030 Value To Be $162.5 Billion

The sleeping aids market is driven by the increasing incidence of obstructive sleep apnea and insomnia, rising usage of portable sleep apnea devices, wearable monitors and sensors, and sleeping pills, surging stress in everyday life, booming geriatric population, government support to startups, and expanding healthcare center network. As a result, the market valued $78.7 billion in 2019, and it will grow to $162.5 billion by 2030, at a 7.1% CAGR between 2020 and 2030 (forecast period).

Receive Sample Pages of this Report: https://www.psmarketresearch.com/market-analysis/sleeping-aids-market/report-sample

Insomnia, restless leg syndrome (RLS), sleep apnea, sleepwalking, narcolepsy, and others are the divisions of the sleep disorder segment. In 2020, the insomnia division dominated the sleeping aids market owing to the increasing prevalence of this condition. During the forecast period, the highest CAGR will be witnessed in the sleep apnea category, as an increasing number of people are suffering from this condition. Essentially, the escalating awareness on the treatments available for this condition will propel the category’s growth.

Make an Enquiry before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=sleeping-aids-market

Presently, home sleeping tests are trending in the sleeping aids market as they offer patients privacy and are cost-effective. Such procedures involve the usage of electroencephalogram (EEG), chest bands, electrooculogram (EOG), electrocardiogram (ECG), and an array of other devices for measuring brain waves, nasal and oral airflow, respiration rate, eye movements, heart rate, and O2 and CO2 levels in the blood. These tests can determine the exact cause of the sleep disorder, which is important for charting out the course of treatment.

In this regard, a key driver for the sleeping aids market is the booming geriatric population. With age, people suffer from psychological issues, and their cardiac rhythm changes, which can lead to sleep issues, such as insomnia and OSA. The population of people in the age group of 65 and above is expected to increase from 727 million in 2020 to 1.5 billion by 2050, as per the United Nations (UN). This will mean a lot more cases of sleep disorders, which will drive the demand for diagnoses and treatment.

North America dominated the sleeping aids market in the past owing to the rising incidence of sleep disorders, advanced healthcare infrastructure, and steps being taken by public and private organizations to make people aware of these issues. According to the American Sleep Foundation, around 80 sleep disorders have been reported in almost 50 million people in the U.S. The Asia-Pacific (APAC) region will grow the fastest till 2030 because of the booming elderly population, rising manufacturing of sleeping aids, and heavy sleep disorder burden here.

Therefore, as more people suffer from insomnia, OSA, and other sleeping issues, the market will grow.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com

This release was published on openPR.