2018-2024 Sleeping Aids Market Competitor Analysis, Growth, Regions and Forecast

Posted by Yash Chauhan on March 26th, 2019

The global sleeping aids market is growing at a significant rate, due to the mounting occurrence of insomnia and obstructive sleep apnea disorders, and escalating usage of portable sleep apnea devices. Different offerings such as medication, mattresses, and pillows, sleep apnea devices, sleep laboratory services, and others contributed to the sleeping aids market size. The market has witnessed a high demand for mattresses and pillows due to a cost-effective solution.

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On the basis of offering the market is subdivided into medication, mattresses and pillows, sleep apnea devices, sleep laboratory services, and others. On the basis of sleep disorder, the market is subdivided into insomnia, restless legs syndrome, sleepwalking, sleep apnea, narcolepsy, and others.

Fluctuating consumer inclination toward herbal OTC drugs, mounting requirement for home sleep test, escalating acceptance of wearable monitors and sensors, and augmented usage of CPAP therapy devices are the trends in the sleeping aids market.

Mounting occurrence of insomnia and obstructive sleep apnea disorders (OSA), changing lifestyle, escalating usage of portable sleep apnea devices, and mounting government support for startup companies are the primary growth drivers for sleeping aids market.

Mounting disposable income, an upsurge in awareness about the adverse effect of sleep disorder, expanding the geriatric population, stressful work condition, and escalating healthcare facilities are also facilitating the growth of the sleeping aids market.

North America is the largest sleeping aids market as in the region the occurrence of sleep disorder is increasing. Asia-Pacific is observed to witness the fastest growth in the market, due to expanding the geriatric population.

Key players in the sleeping aids market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe.

Sanofi, SleepMed Inc., Tempur Sealy International Inc., Pfizer Inc., Merck & Co. Inc., GlaxoSmithKline plc, Cadwell Laboratories Inc., Takeda Pharmaceutical Company Limited, Koninklijke Philips N.V., Compumedics Limited, Natus Medical Incorporated, Serta Simmons Bedding LLC, and Drive DeVilbiss Healthcare are the key players offering sleeping aids.

Source: VynZ Research