Sleeping Aids Market To Observe Fastest Growth In Asia-Pacific

Posted by Aryan on November 9th, 2023

The sleeping aids market will touch USD 157,484.5 million, propelling at a 7.3% compound annual growth rate, by 2030.

The growth in the sleeping aids industry is credited to the increasing prevalence of obstructive sleep apnea (OSA), work pressure, and unhealthy lifestyles. Furthermore, the rising of obese people and the geriatric population leads to a surge in the occurrence of chronic sleeplessness.

Additionally, the increasing number of patients with depression, anxiety, and chronic illness is leading to a rise in the count of sleep disorders patients, which will aid in boosting the demand for the product.

Based on offering, the mattresses and pillows category accounted for a considerable share of the industry in recent years. This is because a variety of mattresses and pillows produced by both local and international manufacturers are available globally. Furthermore, these products are good value for money, which results in their extensive use among the populace.

A key factor boosting the growth of the sleeping aids industry is the increasing acceptance of wearable devices and sensors for monitoring. These devices can transmit recorded data associated with numerous physiological conditions, for measuring and monitoring the quality of sleep.

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In the past few years, North America accounted for the largest sleeping aids market share. This is mainly because of the rising prevalence of sleep disorders and the government and non-government organization support and initiative to increase consciousness regarding related disorders and sleep hygiene.

The U.S. sleeping aids industry will advance at a rate of more than 7% in the years to come. This is mainly because of the increasing prevalence of associated disorders and growing patient compliance with therapeutic devices and drugs. Furthermore, the inventions in these goods, as well as the efforts to make people conscious of apnea by different states, are driving the growth of the industry in the country.

The APAC sleeping aids industry will observe the highest compound annual growth rate in the years to come. Numerous sleeping disorders, such as sleep apnea, insomnia, restless leg syndrome, narcolepsy, and sleepwalking, need intervention, to avoid them from becoming more serious.

Moreover, the Chinese industry for goods that help the sleep-deprived is advancing at a high pace, particularly with young individuals looking to raise the quality and quantity of their sleep. This boosts the requirement for melatonin, a hormone that can make people sleep, smart mattresses, and obstructive sleep apnea machines.

Hence, with the mounting number of obese people, increasing incidence of obstructive sleep apnea, as well as the surging elderly population, the global sleeping aids industry will continue to advance significantly in the years to come.