The Sleep Aid Devices Market to Stick To the Digitized Healthcare Matrix

Sleep Aid Devices Market 2022-2027

The Sleep Aid Devices Market is bound to grow robustly in the years to come. With smart technology and 5G being increasingly adopted, the healthcare vertical is witnessing a paradigm shift. These technologies can thus increase the convenience quotient (CQ), as abysmal disruption happens in the patients' lives. This convenience quotient would be the trend running in the healthcare vertical shortly.

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According to the American Sleep Association, around 50-70 million adults in the U.S. are suffering from sleep disorders, 48.0% of the U.S. adults report snoring, and approximately 5.9 million U.S. adults were diagnosed with obstructive sleep apnea (OSA). In Latin America, the prevalence of OSA was 23.5% in 2013. Sleep aid devices are considered as useful tools for the treatment of sleep disorders.

According to the latest research by Persistence Market Research (PMR), the global sleep aid devices market is anticipated to account for over US$ 29,200 Mn, in terms of value, by 20277 end. The report on the sleep aid devices market further projects significant growth potential with CAGR at 4.9% through 2027.

Key Players:

The report has profiled some of the important players prevalent in the global like - ResMed Inc., Fisher & Paykel Healthcare Limited, Drive DeVilbiss Healthcare LLC, Koninklijke Philips N.V., Sleep Number Corporation, Responsive Surface Technology LLC, Eight Sleep Inc., Simmons Bedding Company LLC, Electromedical Products International, Inc., Kingsdown, Inc., and Ebb Therapeutics, Sleepace Inc and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Sleep Aid Devices Market.                         

Rising stress levels and the rapid increase in sleep disorders such as, insomnia, sleep apnea, restless legs syndrome, narcolepsy, and sleep deprivation have created a need for more advanced sleep aid devices. Various government and non-government organizations such as Circadian Sleep Disorders Network and American Sleep Apnea Association (ASAA) are conducting various awareness programs to increase awareness regarding the importance of ample sleep and usage of sleep aid devices. The initiatives taken by sleep associations and government authorities are promoting the demand for sleep disorder treatment. This would result in an increasing wave of demand for sleep aid devices.

The rise in geriatric population is expected to contribute to the growth of sleep aid devices market. As per the NIH-funded Census Bureau report in 2016, around 8.5% of the world population was aged 65 or above and by 2050 this percentage is expected to grow to around 17%. The prevalence of several lifestyle diseases such as atherosclerosis, heart disease, stroke, obesity, type 2 diabetes, and diseases associated with smoking, alcohol and drug abuse is rising globally. The rise in geriatric population and other lifestyle-related diseases is consequently expected to impact the growth of the sleep aid devices market in a positive way.

Disposable income in developing economies is increasing, as a result, people are opting for safe and advanced sleep aid devices. Moreover, due to the rise in disposable income, people now can afford the high-cost devices. Such favorable conditions have provided an excellent growth opportunity for the manufacturers of sleep aid devices to connect with potential customers.

Persistence Market Research (PMR) has segmented the sleep aid devices market based on product type, indication, end user, and region.

The product type segment of the sleep aid devices market is segmented into Positive Air Pressure Devices, Adaptive Servo-Ventilation (ASV) Devices, Mattresses and Pillows, Smart Sleeping Equipment, and Other Sleep Solutions. Smart sleeping equipment are technologically-advanced sleep aid devices, which track sleep and give information about the quality of sleep a person had with the help of a mobile application. Along with sleep data, they also have some additional features such as onboard temperature control, smart home integration, and can analyze heart and breathing rate to help a person sleep properly. The smart sleeping equipment segment in the sleep aid devices market is expected to witness noteworthy growth in terms of revenue owing to the rapid increase in demand for safe sleep aid devices.

By indication, sleep aid devices can be segmented as sleep aid devices for insomnia, sleep aid devices for sleep apnea, sleep aid devices for restless leg syndrome, sleep aid devices for narcolepsy, and sleep aid devices for sleep deprivation. Insomnia is the most common sleep disorder among these, with short-term issues reported by about 30% of adults and chronic insomnia by 10% in the U.S.

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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders 
Sleep Aid Devices Market Manufacturers 
Sleep Aid Devices Market Distributors/Traders/Wholesalers 
Sleep Aid Devices Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

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Key Questions Answered in the Sleep Aid Devices Market Report

How is the Sleep Aid Devices Market expected to grow over the projected period?

What direction is the Sleep Aid Devices Market expected to take in terms of volume and value during the forecast period?

What is the impact of macroeconomic factors on the Sleep Aid Devices Market in future?

What are the key market drivers in the Sleep Aid Devices Market?

What are significant opportunities and improvement areas for Sleep Aid Devices Market manufacturers?

What are the key developments and trends taking over the Sleep Aid Devices Market?

Which are the emerging countries that are expected to create significant growth opportunities in the Sleep Aid Devices Market?  

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This release was published on openPR.