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What Are the Key Opportunities and Trends Shaping the Future of the Global Sleeping Aids Market (2025-2034)?
Global Sleeping Aids Market
The global sleeping aids market reached nearly $89.05 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.55% since 2019. The market is expected to grow from 89.05 billion in 2024 to $129.30 billion in 2029 at a rate of 7.74%. The market is then expected to grow at a CAGR of 7.66% from 2029 and reach 186.98 billion in 2034.
What are the upcoming opportunities in the global sleeping aids market?
The key players in the market are adopting extensive strategies in the sleeping aids market such as:
• Focus on strengthening operational capabilities.
• Introduce new product launches.
• Pursue acquisitions.
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To take advantage of the opportunities, The Business Research Company recommends the sleeping aids companies to focus on:
• Focus on offering personalized sleep solutions with smart devices.
• Integrate AI in sleep technology.
• Develop minimally invasive neurostimulation devices.
• Focus on advanced technologies, such as mattress temperature controllers.
• Create bioactive blends or natural ingredients aimed at improving sleep quality.
What Are Sleeping Aids: Market Definition?
Sleeping aids refer to a class of psychoactive medications that are used to treat insomnia and sporadic sleeplessness. Sleeping aids can help decrease daytime tiredness and impaired thinking caused by sleep loss.
The main types of sleeping aids are mattresses and pillows, sleep laboratories, medications, prescription-based drugs, OTC drugs, herbal drugs, and sleep apnea devices. 'Medications' refer to a formulation containing one or more active and/or inactive ingredients. The various indications include insomnia, sleep deprivation, narcolepsy, sleep apnea, and others. These are distributed through hospital pharmacies, retail pharmacies, e-commerce, sleep aids, drug stores, and others.
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Who are the major companies operating in the global sleeping aids market?
The global sleeping aids market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up 39.8% of the total market in 2023. Procter & Gamble Co. was the largest competitor with an 8.53% share of the market, followed by:
• Tempur Sealy International Inc.
• Pfizer Inc.
• Eisai Co. Ltd.
• ResMed Inc.
• Koninklijke Philips N.V.
• Boehringer Ingelheim International GmbH
• Jazz Pharmaceuticals plc.
• Nature's Bounty Co.
• Teva Pharmaceutical Industries Ltd.
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