Sleeping Aids Market Size to Grow by $ 31.31 Billion During 2021-2025
Technavio has been monitoring the sleeping aids market and it is expected to grow by $ 31.31 Billion, accelerating at a CAGR of almost 6.79% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Sleeping Aids Market: North America to lead market growth during the forecast period
- 42% of the market growth will originate from North America during the forecast period.
- Use of the internet to create awareness will be a key trend that will influence market growth significantly.
- Increase in human lifespan and working hours will be a significant factor in driving the growth of the sleeping aids market.
Sleeping Aids Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Cadwell Industries Inc., Compumedics Ltd., GlaxoSmithKline Plc, Hillrom, Koninklijke Philips NV, Medical Depot, Merck and Co. Inc., Pfizer Inc., Sanofi SA, and SleepMed Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Sleeping Aids Market: Key Highlights of the Report for 2021-2025
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive sleeping aids market growth during the next five years
- Precise estimation of the sleeping aids market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the sleeping aids market industry across North America, Europe, Asia, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of sleeping aids market vendors
The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerate at a CAGR of 6.79%.
- What is the incremental growth of the market?
The market is expected to grow by $ 31.31 bn through 2021-2025.
- What is a key factor driving this market?
Increase in human lifespan and working hours are among factors that will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
North America, Europe, Asia, and ROW are the key regions featured in this research report.
- Which is the leading geographic region for this market:
42% growth will originate from North America
- Who are the leading market vendors?
The leading vendors in this market are Cadwell Industries Inc., Compumedics Ltd., GlaxoSmithKline Plc, Hillrom, Koninklijke Philips NV, Medical Depot, Merck and Co. Inc., Pfizer Inc., Sanofi SA, and SleepMed Inc.
- What are the market segments covered in this report?
The market is segmented by Product (Mattress and pillows, Sleep apnea devices, and Others) and Geography (North America, Europe, Asia, and ROW)