Authored By: Sarah
15 Jul 2024

 Sleeping Aids Market Size to grow by USD 36416.19 million between 2023-2027

According to a research report “ Sleeping Aids Market” by Type (Insomnia, Sleep Apnea, Restless legs syndrome, Others) Product (Mattress and pillows, Sleep apnea devices, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 36416.19 million, at a CAGR of almost 6.79% during the forecast period. In the Sleeping Aids Market, technological innovations have significantly advanced Continuous Positive Airway Pressure (CPAP) devices, catering to evolving end-user needs. Vendors are investing heavily in Research and Development (R&D) to introduce groundbreaking CPAP systems and accessories. For instance, InnAccel's April 2019 launch of SAANS, an infrastructure-independent, portable neonatal CPAP system, demonstrates this trend. Designed for resource-poor settings and transportation, SAANS provides essential breathing support to critically ill neonates suffering from respiratory distress syndrome. Moreover, technological advancements have resulted in the creation of lightweight interface masks with soft sealing flanges and minimal accessories. These enhancements will undeniably boost the usability and adaptability of CPAP devices.

Browse market data tables, figures, and in-depth TOC on “Sleeping Aids Market” by Type (Insomnia, Sleep Apnea, Restless legs syndrome, Others) Product (Mattress and pillows, Sleep apnea devices, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2027. Download Free Sample

 

By Type, the Insomnia segment is projected to dominate the market size in 2024

The mattress market encompasses a range of innovative sleep solutions, with pressure-relief mattresses being a significant segment. These mattresses are filled with advanced materials such as memory foam, latex, and coiled springs, each offering unique benefits. Memory foam, a high-density material with a withstanding capacity of 50 kg/m3, is a technologically advanced raw material used extensively in this industry. Known for its high viscoelasticity, excellent body support, and ergonomic properties, memory foam has become the preferred choice for both therapeutic and preventive applications in home and healthcare settings.

By Product, Mattress and pillows  segment is expected to hold the largest market size for the year 2024

Insomnia, a sleep disorder characterized by difficulty in falling and maintaining sleep, can manifest as both acute and chronic conditions. Acute insomnia may last for a few weeks or just one night, while chronic insomnia persists for three months or more, affecting at least three nights per week. According to the Centers for Disease Control and Prevention (CDC), insomnia is the most prevalent sleep disorder in the United States, with an estimated 50-70 million individuals experiencing it annually. Approximately half of the American population encounters insomnia symptoms occasionally. Of those, approximately 10% develop chronic insomnia, making it a significant health concern.

North America is forecasted to hold the largest market size by region in 2024

The North American sleeping aids market holds a significant share in the global market, driven by the escalating prevalence of diabetes and the increasing number of overweight and obese individuals. According to the Pan American Health Organization, diabetes-related healthcare expenditures in the Americas are projected to reach USD445.6 billion by 2040. In North America, the Centers for Disease Control and Prevention (CDC) reports that approximately 34.2 million people have diabetes, equating to 10.5% of the US population. People with diabetes face substantially higher healthcare costs, estimated to be two to three times greater than those without diabetes. Furthermore, the risk of cardiovascular diseases and related comorbidities among people with diabetes is similarly elevated, further underscoring the market potential for sleeping aids in this region.

The Sleeping Aids Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Abecca
  • AstraZeneca Plc
  • Becton Dickinson and Co.
  • Cadwell Industries Inc.
  • Compumedics Ltd.
  • ConnectAmerica
  • CSL Ltd.
  • F. Hoffmann La Roche Ltd.
  • GlaxoSmithKline Plc
  • Medical Depot Inc.
  • Merck and Co. Inc.
  • Natus Medical Inc.
  • Pfizer Inc.
  • Sanofi SA
  • Serta Inc.
  • SleepMed Inc.
  • Takeda Pharmaceutical Co. Ltd.
  • Talley Group Ltd.
  • ActiGraph LLC
  • Koninklijke Philips NV
.

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Research Analysis Overview

The Sleeping Aids Market encompasses a range of treatments for various sleep disorders, including narcolepsy, sleep apnea, and insomnia. Narcolepsy, characterized by excessive daytime sleepiness and sudden attacks of sleep, requires drugs like modafinil and sodium oxybate. Sleep apnea, marked by interrupted breathing during sleep, may benefit from medical devices like continuous positive airway pressure (CPAP) machines. Insomnia, a common condition causing difficulty sleeping, can be treated with both drugs, such as benzodiazepines and non-benzodiazepines, and medical devices, like white noise machines. Sleep disorders impact cognitive functions, metabolic homeostasis, thinking, interpersonal relationships, and school & work performance. Symptoms like tiredness, difficulty sleeping, and daytime sleepiness can lead to impaired ability to function. Underlying conditions like stroke, high blood pressure, rheumatoid arthritis, diabetes, and chronic diseases can disrupt sleep patterns. Poor sleeping habits, metabolic imbalance, and cognitive abilities are also linked to sleep disorders. Memory and other cognitive abilities can be affected, leading to further complications. The market for sleeping aids continues to grow as the prevalence of sleep disorders increases, driven by an aging population and rising awareness of the importance of good sleep health.

Market Research Overview

The Sleeping Aids Market encompasses a wide range of products and technologies designed to help individuals manage various sleep disorders and improve sleep quality. These include prescription-based drugs like Suvorexant, Ramelteon, Pitolisant, and Modafinil, as well as over-the-counter (OTC) drugs, supplements, and wearable sensors. Tiredness, thinking symptoms, and sleep disorders such as insomnia, sleep apnea, sleep disorder breathing, narcolepsy, restless legs syndrome, and chronic insomnia, are common conditions addressed by this market. Weight, poor sleeping habits, and chronic stress are significant factors contributing to sleep disorders. Medical devices, such as sleep laboratories, sleep apnea devices, and adaptive servo-ventilators (ASVs), play a crucial role in diagnosing and managing these conditions. Mattresses & pillows, which offer management of temperature, noise, and light, are essential sleep help items. Cutting-edge technologies, such as wearable sensors and tracking devices, enable statistical tools to monitor sleep patterns and identify potential issues. Prescription-based drugs like Gabapentin, Eszopiclone, and facial interfaces address conditions like pain, depression, and anxiety that can disrupt sleep. The obese population, geriatric population, and those with chronic diseases like diabetes, high blood pressure, heart disease, and arthritis, are significant target demographics. The sleeping aids market faces challenges from reduced trade and adoption rate, but its business development potential is significant due to the growing awareness of healthcare benefits and the increasing prevalence of sleep disorders. Counseling and industrial techniques are also essential components of sleep disorder management. Overall, the market for sleeping aids is diverse, addressing various sleep disorders and offering a range of solutions to help individuals achieve optimal sleep and improve their school & work performance, cognitive functions, and interpersonal relationships.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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