The Worldwide Sleep Aids Industry is Projected to Reach $111 Billion by 2030 – ResearchAndMarkets.com

The Worldwide Sleep Aids Industry is Projected to Reach $111 Billion by 2030 – ResearchAndMarkets.com




The Worldwide Sleep Aids Industry is Projected to Reach $111 Billion by 2030 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Sleep Aids Market by Product and Sleep Disorders: Global Opportunity Analysis and Industry Forecast, 2021-2030” report has been added to ResearchAndMarkets.com’s offering.

The global sleep aids market was valued at $59,815.10 million in 2020, and is projected to reach $111,920.10 million by 2030, registering a CAGR of 6.9%from 2021 to 2030.

Sleep is a biological requirement that maintains metabolic homeostasis, influences memory and other cognitive functions, and regulates immune function. Sleep aids are drugs, medical devices, and services that are used to diagnose and treat various sleep disorders such as sleep apnea and insomnia. Lack of quality sleep leads to sleep disorders, which are caused due to medical issues, physical disturbances, environmental problems, and psychiatric disorders.

These sleep disorders are expected to adversely affect the human health and lead to a number of chronic diseases such as high blood pressure, diabetes, arthritis, and stroke. Thus, it is important to treat and diagnose these disorders at an early stage.

The benefits of using sleep aid products and rise in disposable income drive the growth of the market. Moreover, the rise in the geriatric and obese population has led to an increase in the cases of sleep disorder, which will increase the patient population with sleep disorders also contribute toward the growth of the market. However, the side effects of sleep aid medication on human health and large number of patent expiration of medication are the major barriers for the growth of the market. The advancement of sleep aid product is anticipated to help increase the adoption rate and the untapped market in developing economies are expected to offer lucrative opportunities for market expansion during the forecast period.

The sleep aids market is segmented on the basis of product, sleep disorder, and region. By product, the market is segmented into mattress & pillows, sleep laboratories, medications, and sleep apnea devices. The medications segment is further classified into prescription-based and over-the-counter (OTC) drugs. On the basis of sleep disorders, it is categorized into insomnia, sleep apnea, restless leg syndrome, narcolepsy, sleepwalking, and other sleep disorders. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits

  • This report provides a detailed quantitative analysis of the current market trends and future estimations from 2020 to 2030, which assists to identify the prevailing market opportunities
  • An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans
  • A comprehensive analysis of the factors that drive and restrain the growth of the sleep aids market is provided
  • An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves
  • Key market players and their strategies have been analyzed to understand the competitive outlook of the market

Key Market Segments

By Product

  • Mattresses & Pillows
  • Sleep Laboratories
  • Medications
  • Prescription-Based Drugs
  • OTC Drugs
  • Sleep Apnea Devices

By Sleep Disorders

  • Insomnia
  • Sleep Apnea
  • Restless Leg Syndrome
  • Narcolepsy
  • Sleepwalking
  • Other Sleep Disorders

By Region

  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Key Players

  • Cadwell Industries, Inc
  • Compumedics Limited
  • Drive DeVilbiss Healthcare Inc
  • GlaxoSmithKline Plc
  • Merck& Co, Inc
  • Natus Medical Inc
  • Koninklijke Philips NV
  • PFIZER, INC
  • Sanofi SA
  • SleepMed Inc

For more information about this report visit https://www.researchandmarkets.com/r/bcfnv6

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