According to the latest report published by Variant Market Research, the global sleeping aids market size is estimated to reach $96 Billion by 2024 from $59 Billion in 2016, at a CAGR of 6.3% from 2016 to 2024.
Growing disposable income to drive the global sleeping aids market
The global sleeping aids market trend include change in consumer lifestyle, growing disposable income, high demand for sleeping pills, and growing obese & geriatric population. Sleeping aids medicines are used by patients all over the world to tackle the sleep disorder including the usage of sleeping aids devices. Moreover, sleep disorders are a common problem in Australia. Sleeping aids for knees such as knee pillows are offered by various key players of the market. However, patent expiration & various adverse effects of sleep aids medication may hamper the market growth. Furthermore, highly developed technologies and increasing knowledge about sleeping disorders would provide an opportunity for market players of this market.
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The global sleeping aids market is classified into product type, sleep disorder, and geography. Product type segment includes sleep laboratories, mattresses and pillows, medication (herbal drugs, prescription based drugs, OTC drugs), sleep apnea devices and other product type. Sleep apnea, insomnia, restless legs syndrome, sleep walking, narcolepsy, and other sleep disorders are covered under the sleep disorder sub segment. North America (U.S., Mexico, and Canada), Europe (France, Germany, UK, Italy, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia-Pacific) and RoW (Middle East, South America, and Africa) are the key geographical regions included in the global sleeping aids market.
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Mattresses and pillows, by product type, is estimated to dominated the global market in 2016
Mattresses and pillows held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to easy usage coupled with growing acceptance of sleeping aids pillows and mattresses.
Insomnia, by sleep disorder, is estimated to dominated the global market in 2016
Insomnia held for the highest market share in 2016, and expected to continue its dominance over the forecast period, 2016 – 2024, due to high number of patients suffering from insomnia.
Asia-Pacific is estimated to witness fastest CAGR from 2016 to 2024
Asia-Pacific is predicted to grow at a fastest CAGR of 7.9% over the forecast period 2016 to 2024. The growth is attributed to increasing geriatric population and rise in demand for sleeping pills.
The key market players of the sleeping aids market are Pfizer, Compumedics Limited, Takeda Pharmaceutical Company Limited, GlaxoSmithKline Plc, CareFusion Corporation, GlaxoSmithKline Plc, Teva Pharmaceutical Industries Limited, Natus Medical Incorporated, Merck And Co., and Sanofi, Serta International, among others.
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Scope of Global Sleeping Aids Market
- Mattresses and Pillows
- Sleep Laboratories
- Prescription Based Drugs
- Herbal Drugs
- OTC drugs
- Sleep Apnea Devices
- Other Products
Sleep disorder Segments
- Sleep Apnea
- Restless Legs Syndrome
- Sleep Walking
- Other Sleep Disorders
- North America
- South Korea
- South America
- Middle East
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Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise is data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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