The global sleep aid market is anticipated to grow significantly at a CAGR of 7.0% during the forecast period. The factors that are driving the growth of the market include the rising geriatric population and increasing incidences of sleep disorders. For instance, according to the Sleep Foundation, in the US, the number of people with more than 65 years was 15% in 2016 and expected to have 21% by 2040 of the US population. This trend continues to be experienced globally, as the United Nations estimation that the number of people with more than 60 years will be double by 2050, and Triple by 2100. Aging is linked to a variety of health issues, including sleep problems. In reality, lack of sleep can contribute to a variety of issues, lowering the quality of life in adults over the age of 65.
Several common disturbances found in older adults such as walking up at night, daytime napping, and sleep issues occurs such as nighttime urination, pain, insomnia, sleep apnea, restless leg syndrome, and daytime drowsiness, among others. Among these, sleep apnea is a sleep breathing disorder in which the upper airway collapses during sleep. It has an impact on sleep quality and daily weariness, as well as being a risk factor for hypertension, heart disease, stroke, and sudden death while sleeping, it most commonly observed in elderly people. The factors that are restraining the growth of the market include shortage of skilled medical professionals, patent expiration of sleep disorder medications, and side effects associated with the sleep medications, among others. Moreover, the increase in awareness about sleep disorders and technological advancements are expected to create new market opportunities to sleep aids manufacturers during the forecast period.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Sleep Disorder
- By Products
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Apex Medical Corp., Cadwell Industries Inc., General Ekectric Co., GlaxoSmithKline Plc, Koninklijke Philips N.V., Merck & Co., Pfizer Inc., Sanofi S.A., SleepMed Inc., Takeda Pharmaceutical Co. Ltd., and Teva Pharmaceutical Industries Ltd., among others
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Sleep Aid Market Report Segment
By Sleep Disorder
- Insomnia
- Sleep Apnea
- Narcolepsy
- Sleep Walking
- Restless Legs Syndrome
By Products
- Sleep Laboratories
- Specialty Mattresses and Pillows
- Medications
- Prescription Drugs
- OTC Drugs
- Herbal Drugs
Sleep Apnea Devices
- Diagnostics Devices
- Therapeutic Devices
Sleep Aid Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Apex Medical Corp.
- Braebon Medical Corp
- Cadwell Industries Inc.
- Compumedics Ltd.
- DeVilbiss Healthcare LLC
- Fisher & Paykel Healthcare Ltd.
- General Electric Co.
- GlaxoSmithKline plc
- Invacare Corp.
- Koninklijke Philips N.V.
- Medtronic PLC
- Merck & Co., Inc.
- Natus Medical Inc.
- Pfizer Inc.
- ResMed Corp.
- Sanofi S.A.
- SleepMed, Inc.
- SomnoMed Inc.
- Takeda Pharmaceutical Co. Ltd.
- Teva Pharmaceutical Industries Ltd.
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