Sleep Aids Market to witness wholesome growth of Revenue up to US$ 40.1 Bn from 2022 to 2031

Sleep Aids Market 2022-2031

As per Persistence Market Research's latest revised industry analysis, the global sleep aids market was valued at over 24.6 Bn in 2020, and is expected to exhibit a CAGR of close to 4.5% over the forecast period (2022-2031).

Request for Free Sample Report of "Sleep Aids" Market @ https://www.persistencemarketresearch.com/samples/2832

Increasing prevalence of sleep-related disorders, changing lifestyles, obesity, and increasing aging population, together with technology advancements with the launch of innovative devices are some of the factors driving demand for sleep aids.

Increasing demand for sleeping pills due to modern lifestyles is one of the major factor driving demand for sleep aids. Stressful pace of life is found to be the main characteristic of modern lifestyle, thus increasing the incidence of sleep-related disorders. According to the Centers for Disease Control and Prevention (CDC) 2020 report, one-third of the U.S. population gets less than the recommended amount of sleep on a regular basis.

Key Players:

The report has profiled some of the important players prevalent in the global like - ResMed Inc., Royal Philips NV, Merck & Co. Inc., Drive DeVilbiss Healthcare LLC, GlaxoSmithKline Plc., Fisher & Paykel Healthcare Limited, Sanofi SA, Pfizer Inc., Eisai Co., Ltd, 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 Aids Market.   

Key Takeaways from Market Study

By product, mattresses and pillows, chin straps, mouth pieces, and nasal devices will hold a market share of 72.5% in 2021, expanding at a CAGR of around 4.3% over the forecast period.

By indication, insomnia is expected to hold well over 35% market share in 2021, and is expected to continue growing at a moderate rate over the forecast period.

By distribution channel, the e-Commerce and others segments together holds more than 50% market share, and are expected to continue a similar trend through the forecast period.

By region, North America held the highest share in the global market in 2020, with the market expanding at a CAGR of nearly 4%.

"Growing incidence of sleeping disorders and rising need for technologically advanced products for their treatment are expected to drive market growth over the forecast period," says an analyst of Persistence Market Research.

Market Competition

New product launches and acquisitions have emerged as a key growth strategy adopted by some of the leading manufacturers of sleep aids. By focusing on these strategies, key stakeholders are expanding their geographic footprints and strengthening their existing product portfolios.

04-Feb-2020, Merck & Co/MSD claimed FDA approval for a new use of its insomnia drug Belsomra, treating sleep disruption in people with mild-to-moderate Alzheimer's disease.

In January 2019, GSK announced that it completed the acquisition of Tesaro for approximately US$ 5.1 Bn.

In 2018, Philips acquired NightBalance, a digital health company in the Netherlands, which has developed an innovative, easy-to-use device to treat positional obstructive sleep apnea and positional snoring.

In August 2017, Sanofi S.A. announced the acquisition of Protein Sciences, a vaccines biotechnology company based in Meriden, Connecticut, in the United States.

Request For Customization @ https://www.persistencemarketresearch.com/request-customization/2832

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 Aids Market Manufacturers 
Sleep Aids Market Distributors/Traders/Wholesalers 
Sleep Aids Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

If you have any special requirements, please let us know and we will offer you the report as you want. 

Major Highlights of the Sleep Aids Market Report:

The Sleep Aids Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.

The report dives deeper into the market and explains the dynamic factors bolstering market growth.

The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.

The report analyzes the Sleep Aids Market presence across major regions of the world.

It determines the production & consumption capacities and demand & supply dynamics of each regional market.

The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.

It provides company overview and SWOT analysis of each of the market players.

Key Questions Answered in the Sleep Aids Market Report

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

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

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

What are the key market drivers in the Sleep Aids Market?

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

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

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

If you have any special requirements, please let us know and we will offer you the report as you want and also We Provide you Table of Content.

Click Here to Buy this Report@ https://www.persistencemarketresearch.com/checkout/2832

Media Contact:

Persistence Market Research

305 Broadway,7th Floor New York City, NY 10007 United States

Call +1-646-568-7751

Call +1 800-961-0353

sales@persistencemarketresearch.com

About PersistenceMarketResearch:

PersistenceMarketResearch is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

This release was published on openPR.