Global Sleeping Aids Market is Estimated to Value Over USD 115 Billion by 2029 End

  • 05 Jul 2019

Global Sleeping Aids Market is estimated to value over USD 115 Billion by 2029 end and register a CAGR of over 6.5% during the forecast period 2019 to 2029.

There has been a significant rise in the number of patients suffering from insomnia, obstructive sleep apnea disorder, increased utilization of portable devices made for treating sleep apnea are some of the factors that drive the market growth. Additionally, increasing demand for sleeping pills owing to a stressful lifestyle and a rise in the geriatric population also contribute to market growth.

Insights on Global Sleeping Aids Market:
1.    By Region
•    North America
•    Europe
•    Asia Pacific
•    Latin America
North America dominates the global market owing to a stressful lifestyle which results in sleep disorders like insomnia, obstructive sleep apnea, depression. Furthermore, a rising geriatric population which is more prone to sleep disorders is also supporting the market growth.

2.    By Product Type
•    Insomnia Treatment Drugs
o    Doxepin Hydrochloride
o    Eszopiclone
o    Ramelteon
o    Triazolam
o    Zaleplon
o    Quazepam
o    Others

•    Narcolepsy Treatment Drugs
o    Modafinil
o    Sodium Oxybate
o    Armodafinil
o    Others

•    Devices
o    Positive Airway Pressure (PAP)
•    Continuous Positive Airway Pressure (CPAP)
•    Auto Adjusting Positive Airway Pressure (APAP)
•    Bi-level Positive Airway Pressure (BiPAP)

•    Others
o    Mattresses and Pillows
o    Chin Straps
o    Mouth Pieces and Nasal Devices 
The others segment is likely to dominate the global market owing to the cost-effectivity of the solutions offered under this segment. The mattress and pillow sub-segment is the most remunerative market segment and it is widely adopted as a sleeping aid worldwide. Mouthpieces and nasal devices segment has the potential of obtaining significant market growth and is likely to do so during the forecast period.

3.    By Indication
•    Insomnia
•    Sleep Deprivation
•    Narcolepsy
•    Sleep Apnea
•    Others
Insomnia segment dominates this market segment as it is the most commonly found sleep disorder. The primary reasons for insomnia to happen are dietary choices, stressful lifestyles and lack of physical activity. 

Competitive Landscape:
•    Tier 1 players- established companies in the market with a major market share  
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants  
EarlySense Ltd. And SleepMed announced a partnership in August 2017 in order to offer sleep disorder solutions to consumers and improve their health. EarlySense has already created a sleep monitor called EarlySense Live, which tracks and monitors crucial signs like respiratory rate, heart rate, stress levels and sleep cycles.

Key Markey Players:
•    Pfizer Inc.
•    ResMed Inc.
•    Merck & Co. Inc.
•    GlaxoSmithKline Plc.
•    Fisher and Paykel Healthcare
•    EarlySense Ltd.
•    SleepMed

FutureWise Key Takeaways:
•    Growth prospects
•    SWOT analysis 
•    Key trends 
•    Key data-points affecting market growth 

Objectives of the Study:
•    To provide with an exhaustive analysis on the global sleeping aids market by region, by product, by indication
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market 
•    To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific and Latin America
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions

 

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