Sleep Aid Market Will Generate Record Revenue by 2029

The global sleep aid market is anticipated to grow significantly at a CAGR of 7.0% during the forecast period. The factors that are driving the growth of the market include the rising geriatric population and increasing incidences of sleep disorders. For instance, according to the Sleep Foundation, in the US, the number of people with more than 65 years was 15% in 2016 and expected to have 21% by 2040 of the US population. This trend continues to be experienced globally, as the United Nations estimation that the number of people with more than 60 years will be double by 2050, and Triple by 2100. Aging is linked to a variety of health issues, including sleep problems. In reality, lack of sleep can contribute to a variety of issues, lowering the quality of life in adults over the age of 65.

Several common disturbances found in older adults such as walking up at night, daytime napping, and sleep issues occurs such as nighttime urination, pain, insomnia, sleep apnea, restless leg syndrome, and daytime drowsiness, among others. Among these, sleep apnea is a sleep breathing disorder in which the upper airway collapses during sleep. It has an impact on sleep quality and daily weariness, as well as being a risk factor for hypertension, heart disease, stroke, and sudden death while sleeping, it most commonly observed in elderly people. The factors that are restraining the growth of the market include shortage of skilled medical professionals, patent expiration of sleep disorder medications, and side effects associated with the sleep medications, among others. Moreover, the increase in awareness about sleep disorders and technological advancements are expected to create new market opportunities to sleep aids manufacturers during the forecast period.



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Market Coverage

The market number available for - 2022-2030
Base year- 2022
Forecast period- 2023-2030
Segment Covered-

By Sleep Disorder
By Products
Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- Apex Medical Corp., Cadwell Industries Inc., General Ekectric Co., GlaxoSmithKline Plc, Koninklijke Philips N.V., Merck & Co., Pfizer Inc., Sanofi S.A., SleepMed Inc., Takeda Pharmaceutical Co. Ltd., and Teva Pharmaceutical Industries Ltd., among others


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Sleep Aid Market Report Segment

By Sleep Disorder

Insomnia
Sleep Apnea
Narcolepsy
Sleep Walking
Restless Legs Syndrome
By Products

Sleep Laboratories
Specialty Mattresses and Pillows
Medications
Prescription Drugs
OTC Drugs
Herbal Drugs
Sleep Apnea Devices

Diagnostics Devices
Therapeutic Devices
Sleep Aid Market Report Segment by Region

North America

United States
Canada
Europe

UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific

India
China
Japan
South Korea
Rest of APAC
Rest of the World

Latin America
Middle East & Africa
Company Profiles

Apex Medical Corp.
Braebon Medical Corp
Cadwell Industries Inc.
Compumedics Ltd.
DeVilbiss Healthcare LLC
Fisher & Paykel Healthcare Ltd.
General Electric Co.
GlaxoSmithKline plc
Invacare Corp.
Koninklijke Philips N.V.
Medtronic PLC
Merck & Co., Inc.
Natus Medical Inc.
Pfizer Inc.
ResMed Corp.
Sanofi S.A.
SleepMed, Inc.
SomnoMed Inc.
Takeda Pharmaceutical Co. Ltd.
Teva Pharmaceutical Industries Ltd.
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