Sleeping Aids Market Share, Size, Trends, Industry Analysis Report, By Product (Mattresses & Pillows, Sleep Laboratories, Medications, Sleep Apnea Devices); By Sleep Disorders; By Region; Segment Forecast, 2022 - 2030
- Published Date:Jun-2022
- Pages: 101
- Format: PDF
- Report ID: PM2287
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Summary
The global sleeping aids market was valued at USD 64.08 billion in 2021 and is expected to grow at a CAGR of 7.1% during the forecast period. Sleep is one of the primary biological needs that aid in maintaining metabolic homeostasis cognitive functions and influences memory. These aids are medical devices and drugs that are used to diagnose & treat different types of sleep disorders, including insomnia, sleep apnea, narcolepsy, and others.
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These sleeping disorders negatively impact overall human health and lead to several chronic diseases, including high blood pressure, arthritis, stroke, and diabetes. The growing focus of the global population on the adverse effects of this disorder is anticipated to drive the growth of the sleeping aids industry. However, the rising complexity concerns in sleep disorder treatment due to the introduction of new technologies are expected to hinder the development of the sleeping aids market. Further, the lack of proper documentation for the licensing and usage of pills and the improper standardization of sleeping aids devices are estimated to negatively impact the sleeping aids industry.
The COVID-19 outbreak has led to a decline in the demand for sleeping aids due to widespread financial stress. Further, the spread of the COVID-19 reflects the downfall in the sleeping aids industry growth because of the significant disruptions in the supply chain and the slowdown in production activities. The disruptions in the supply chain, lockdown measures, and limited consumer spending are anticipated to hamper sleeping aids industry development.
On the plus side, it is projected that the market for sleep aids would expand due to the rising drug intake by SDB (Sleep-Disordered Breathing) patients who are at a high risk of experiencing a variety of negative results from viral infection. The demand for sleep aids is anticipated to increase as governments worldwide relax their stance on lockdowns. In the post-pandemic period, market growth is predicted to be boosted by continuous product improvements and changing laws in various applications.
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Industry Dynamics
Growth Drivers
The primary factor driving the growth of the sleeping aids market is the changing sleep pattern of the global population triggered by changing lifestyles. Further, the increasing affluence of the consumers coupled with the improved access to medical services on account of the rising demand for quality healthcare is anticipated to drive the market growth. Moreover, the growing approval of new products in the market and the increasing government funding for research & development are expected to offer huge sleep aids industry growth opportunities.
The increasing M&A (Merger & Acquisition) among industry players to expand their product portfolio and geographic presence are anticipated to drive the market growth. For instance, in September 2018, Tris Pharma acquired NextWave, a subsidiary of Pfizer. This acquisition is expected to expand Tris Pharma’s product portfolio for treating ADHD patients. Furthermore, the rising innovation in sleeping aids devices and the development of proper drugs for inappropriate sleep with fewer side effects are anticipated to boost the demand globally.
Report Segmentation
The market is primarily segmented based on product, sleeping disorders, and region.
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By Product |
By Sleep Disorders |
By Region |
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Insight by Sleep Disorders
The insomnia segment is recorded to hold the larger share in 2021 and is expected to lead the sleeping aids industry in the forecasting years. Insomnia is a disorder that causes difficulty in falling or staying asleep. Common causes of this disorder include chronic stress, depression, pain, and others. The huge share of the segment can be attributed to the increasing prevalence of the disorder globally.
According to American Sleep Association, over 70 million of the population in the U.S. suffers from this disorder. Out of which, over 33-50% of the population shows symptoms of Insomnia while 10% have chronic insomnia. Moreover, the growing treatment trials are anticipated to drive the growth of the segment. For instance, in May 2019, Merck’s BELSOMRA C-IV met the primary endpoint in the phase 3 trial for Insomnia treatment in patients that have mild to moderate dementia and Alzheimer's.
The Sleep Apnea segment is projected to show the fastest growth rate in the forecasting years. The rising sleep apnea testing is driving the growth of the segment. Further, the growing adoption of CPAP (Continuous Positive Airway Pressure) devices is anticipated to boost the growth of the segment. CPAP devices are devices used as a treatment for Sleep Apnea. This device aid in maintaining proper sleep and offer relief from snoring.
The development of innovative CPAP devices by manufacturers is anticipated to drive the growth of the segment. Moreover, the increasing number of patients affected with OSA (Obstructive Sleep Apnea) is anticipated to provide growth opportunities for the segment. The rising product developments for Sleep Apnea are anticipated to drive the growth of the segment. For instance, in October 2019, Fisher & Paykel released new OSA masks in the US. Additionally, in April 2017, Koninklijke Philips launched DreamStation Go, a small PAP device to simply travel for OSA patients.
Geographic Overview
North America is accounted for the highest market shares in the global market in 2021. This huge market share can be attributed to the high prevalence of sleeping disorders due to the high use of alcohol and cigarette consumption in North America. Furthermore, the presence of key industry players in the U.S., along with the rising consumer awareness related to sleep quality and sleeping aids products, is anticipated to boost the growth of the market. The rise in the obese and geriatric population in the U.S. is anticipated to drive the demand for sleeping aids medication and devices.
Moreover, the Asia Pacific sleeping aids market is anticipated to exhibit the highest CAGR over the forecasting years. The fast growth of the industry in the Asia Pacific can be attributed to the increasing per capita income coupled with the growing knowledge regarding the negative effects of sleeping disorders among the population. Further, the changing lifestyle, having scaled stressful working hours along with the increasing younger population, is anticipated to offer huge market growth opportunities. Additionally, the rising trend toward the use of OTC (Over the Counter) medication is anticipated to drive the growth of the market in emerging nations such as India, China, and Japan among others.
Competitive Insight
Some of the major players operating in the global market include AstraZeneca Plc, Biodiem, Cadwell Industries Inc., Compumedics Limited, CSL Limited, Drive, Devilbiss Healthcare, Emergent Biosolutions, F.Hoffmann-La Roche Ltd., Gamma Vaccines Pty Ltd., GlaxoSmithKline Plc, Koninklijke Philips N.V., Merck & Co., Inc., Natus Medical Incorporated, Novartis AG, Pfizer Inc., Sanofi, Sinovac Biotech Ltd., and Sleepmed Inc.
Sleeping Aids Market Report Scope
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Report Attributes |
Details |
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Market size value in 2021 |
USD 64.08 Billion |
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Revenue forecast in 2030 |
USD 118.3 Billion |
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CAGR |
7.1% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
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Segments covered |
By Product, By Sleep Disorders, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
AstraZeneca Plc, Biodiem, Cadwell Industries Inc., Compumedics Limited, CSL Limited, Drive, Devilbiss Healthcare, Emergent Biosolutions, F.Hoffmann-La Roche Ltd., Gamma Vaccines Pty Ltd., GlaxoSmithKline Plc, Koninklijke Philips N.V., Merck & Co., Inc., Natus Medical Incorporated, Novartis AG, Pfizer Inc., Sanofi, Sinovac Biotech Ltd., and Sleepmed Inc. |
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