2024 Sleeping Aids Market Report : Market Size, Growth Drivers, And Key Trends | Cadwell Industries Inc., Compumedics Limited, DeVilbiss Healthcare Pvt. Ltd., Merck & Co. Inc.

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Sleeping Aids Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $124.41 billion In 2028 At A CAGR Of 8.4% :

The sleeping aids market size has grown strongly in recent years. It will grow from $83.66 billion in 2023 to $90.09 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to increased stress and sleep disorders, aging population, lifestyle changes, awareness and education, consumer preference for natural remedies.

The sleeping aids market size is expected to see strong growth in the next few years. It will grow to $124.41 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to wellness and self-care trends, mental health awareness, home-based sleep solutions, personalized sleep solutions, natural and non-invasive options. Major trends in the forecast period include wellness and self-care emphasis, technological integration, sleep hygiene education, regulatory focus on safety.

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Sleeping Aids Market Major Segments
The sleeping aids market covered in this report is segmented -

1) By Product: Mattresses And Pillows, Sleep Laboratories, Medications, Prescription-based Drugs, OTC Drugs, Herbal Drugs, Sleep Apnea Devices
2) By Indication: Insomnia, Sleep Deprivation, Narcolepsy, Sleep Apnea, Other Indications
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, E-Commerce, Drug Stores, Other Distribution Channels

Key Driver - Rising Incidence Of Sleep Disorders Sparks Growth In Sleeping Aids Market

The increasing incidence of sleep disorders is expected to propel the growth of the sleeping aids market going forward. Sleep disorders refer to disorders that occur because of a lack of sleep. Sleep disorders affect the overall health of the person, and hence sleeping aids are widely used as medications for reducing the cognitive impairment brought on by sleep deprivation in addition to enhancing sleep in the short term. For instance, in January 2022, according to the National Center for Biotechnology Information, a US-based government department, sleep problems were projected to be present in 52.39% of COVID-19 patients, 45.96% of children and adolescents, 42.47% of healthcare workers, 41.50% of special populations with healthcare needs, 41.16% of university students, and 36.73% of the general population. This indicates that there is an increasing incidence of sleep disorders. Therefore, the increasing incidence of sleep disorders drives the sleeping aids market.

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Prominent Trend - Somnee By Stimscience Redefines Sleep Enhancement With Brain Stimulation

Product innovations are a key trend gaining popularity in the sleeping aids market. Major market players are developing new products to sustain their position in the sleeping aids market, such as wearable sleep aids. For instance, in March 2022, StimScience, a US-based company operating in sleeping aids launched the wearable sleep aid Somnee. This product is the first electronic sleep aid headband with personalized non-invasive brain stimulation that improves sleep quality and reduces overnight tossing and turning by more than one-third in a 1,500-night home pilot study.

Sleeping Aids Market Players
Major companies operating in the sleeping aids market report are Cadwell Industries Inc., Compumedics Limited, DeVilbiss Healthcare Pvt. Ltd., Merck & Co. Inc., Natus Medical Incorporated, Novartis AG, Pfizer Inc., Sanofi SA, Sinovac Biotech Ltd., Sleepmed Inc., Acelity L.P. Inc., Eisai Co. Ltd., ResMed Inc., Fisher & Paykel Healthcare Corporation Limited, Braebon Medical Corporation, Löwenstein Medical GmbH & Co. KG, Takeda Pharmaceutical Company Limited, Koninklijke Philips N.V., AstraZeneca plc, Biodiem Ltd., Apnea Sciences Corp., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Vanda Pharmaceuticals Inc., Cadila Healthcare Limited, Johnson & Johnson Services Inc., Mylan N.V., BMC Medical Co. Ltd., Cleveland Medical Devices Inc., Serta Simmons Bedding LLC, Tempur Sealy International Inc., Sleep Number Corporation, Casper Sleep Inc., Purple Innovation Inc., Leesa Sleep LLC

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Largest And Fastest Growing Region In The Market
North America was the largest region in the sleeping aids market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sleeping aids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Sleeping Aids Market Report Structure
3. Sleeping Aids Market Trends And Strategies
4. Sleeping Aids Market - Macro Economic Scenario
5. Sleeping Aids Market Size And Growth
…..
27. Sleeping Aids Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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