What is the Historic and Current Scenario of the Sleeping Aids Market?
The sleeping aids market has seen considerable growth due to a variety of factors.
• The market size for sleeping aids has seen significant growth in the last few years. The projection is that it will rise from $89.05 billion in 2024 to $95.75 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.5%. The expansion during the historical period can be linked to factors like elevated stress levels and sleep disorders, an aging demographic, changes in lifestyle, increased consciousness and education, along with a consumer inclination towards natural solutions.
How Does the Forecast Look for the Sleeping Aids Market Size?
The Sleeping Aids market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipations show a significant growth forecast in the sleeping aids market in the upcoming years, with projections suggesting a rise to $135.66 billion by 2029 at a compound annual growth rate (CAGR) of 9.1%.
Factors contributing to this predicted growth during the forecast period include the focus on wellness and self-care, increased understanding of mental health, home-based and personalized sleep solutions, as well as natural and non-invasive options. Dominant trends for the forecast period are predicted to be an emphasis on wellness and self-care, technological advancements, education about sleep hygiene, and regulatory focus on safety.
What Are The Leading Drivers Of Growth In The Sleeping Aids Market?
The escalation in sleep-related disturbances is anticipated to fuel the expansion of the sleeping aids market in the future. These disturbances, originating from a deficit of rest, compromise the individual's health, substantiating the extensive employment of sleep aids. These aids serve as remedies for mitigating cognitive damage induced by lack of sleep and enhancing short-term slumber. For example, data from the US government's National Center for Biotechnology Information in January 2022 suggested that sleeping issues affected 52.39% of COVID-19 victims, 45.96% of young people, 42.47% of healthcare workers, 41.50% of specific health-needy groups, 41.16% of college students, and approximately 36.73% of the general populace. This portrays a rising trend in sleep disorders, further propelling the demand for sleep aids in the market.
How Are The Segments Defined Within The Global Sleeping Aids Market?
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
Subsegments:
1) By Mattresses And Pillows: Memory Foam Mattresses, Latex Mattresses, Airbed Mattresses, Waterbed Mattresses, Cervical Pillows, Contoured Pillows
2) By Sleep Laboratories: Sleep Disorder Diagnostic Services, Polysomnography, Home Sleep Testing Services
3) By Medications: Prescription-Based Drugs, Over-The-counter (OTC) Drugs, Herbal And Natural Remedies
4) By Prescription-Based Drugs: Benzodiazepines, Non-Benzodiazepines, Antidepressants, Antihistamines
5) By OTC Drugs: Antihistamines (Diphenhydramine, Doxylamine), Melatonin Supplements, Herbal Sleep Aids
6) By Herbal Drugs: Valerian Root, Chamomile, Lavender, Passionflower, Lemon Balm
7) By Sleep Apnea Devices: Continuous Positive Airway Pressure (CPAP) Devices, Bi-level Positive Airway Pressure (BiPAP) Devices, Adaptive Servo-Ventilation (ASV) Devices, Oral Appliances, Masks
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How Are New Trends Expected To Influence The Growth Of The Sleeping Aids Market?
Innovations in product offerings are becoming an increasingly prevalent trend in the sleeping aids industry. Top competitors in this market are creating new offerings in hopes of maintaining their standing, examples of which include wearable sleep aids. For example, StimScience, a sleeping aids business in the US, unveiled a wearable sleep aid named Somnee in March 2022. This ground-breaking product, the first of its kind as an electronic sleep aid headband, uses personalized non-invasive brain stimulation to enhance the quality of sleep and diminish overnight restlessness by over one-third, as shown in a 1,500-night home trial study.
Who Are the Key Players In The Sleeping Aids Market?
Major companies operating in the sleeping aids market include:
• Cadwell Industries Inc.
• Compumedics Limited
• DeVilbiss Healthcare Pvt. Ltd.
• Merck & Co. Inc.
• Natus Medical Incorporated
• Novartis AG
• Pfizer Inc.
• Sanofi SA
• Sleepmed 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
• Apnea Sciences Corp.
• Boehringer Ingelheim International GmbH
• Teva Pharmaceutical Industries Ltd.
• Vanda Pharmaceuticals Inc.
• Cadila Healthcare Limited
• Johnson & Johnson Services Inc.
• 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
What Is The Most Dominant Region In The Sleeping Aids Market?
North America was the largest region in the sleeping aids market in 2024. 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.
