The sleeping aids global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Sleeping Aids Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The sleeping aids market size has grown strongly in recent years. It will grow from $83.66 billion in 2023 to $90.09 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to increased stress and sleep disorders, aging population, lifestyle changes, awareness and education, consumer preference for natural remedies.
The sleeping aids market size is expected to see strong growth in the next few years. It will grow to $124.41 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to wellness and self-care trends, mental health awareness, home-based sleep solutions, personalized sleep solutions, natural and non-invasive options. Major trends in the forecast period include wellness and self-care emphasis, technological integration, sleep hygiene education, regulatory focus on safety.
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Scope Of Sleeping Aids Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Sleeping Aids Market Overview
Market Drivers –
The increasing incidence of sleep disorders is expected to propel the growth of the sleeping aids market going forward. Sleep disorders refer to disorders that occur because of a lack of sleep. Sleep disorders affect the overall health of the person, and hence sleeping aids are widely used as medications for reducing the cognitive impairment brought on by sleep deprivation in addition to enhancing sleep in the short term. For instance, in January 2022, according to the National Center for Biotechnology Information, a US-based government department, sleep problems were projected to be present in 52.39% of COVID-19 patients, 45.96% of children and adolescents, 42.47% of healthcare workers, 41.50% of special populations with healthcare needs, 41.16% of university students, and 36.73% of the general population. This indicates that there is an increasing incidence of sleep disorders. Therefore, the increasing incidence of sleep disorders drives the sleeping aids market.
Market Trends –
Product innovations are a key trend gaining popularity in the sleeping aids market. Major market players are developing new products to sustain their position in the sleeping aids market, such as wearable sleep aids. For instance, in March 2022, StimScience, a US-based company operating in sleeping aids launched the wearable sleep aid Somnee. This product is the first electronic sleep aid headband with personalized non-invasive brain stimulation that improves sleep quality and reduces overnight tossing and turning by more than one-third in a 1,500-night home pilot study.
The sleeping aids market covered in this report is segmented –
1) By Product: Mattresses And Pillows, Sleep Laboratories, Medications, Prescription-based Drugs, OTC Drugs, Herbal Drugs, Sleep Apnea Devices
2) By Indication: Insomnia, Sleep Deprivation, Narcolepsy, Sleep Apnea, Other Indications
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, E-Commerce, Drug Stores, Other Distribution Channels
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Regional Insights –
North America was the largest region in the sleeping aids market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sleeping aids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the sleeping aids market report are Cadwell Industries Inc., Compumedics Limited, DeVilbiss Healthcare Pvt. Ltd., Merck & Co. Inc., Natus Medical Incorporated, Novartis AG, Pfizer Inc., Sanofi SA, Sinovac Biotech Ltd., Sleepmed Inc., Acelity L.P. Inc., Eisai Co. Ltd., ResMed Inc., Fisher & Paykel Healthcare Corporation Limited, Braebon Medical Corporation, Löwenstein Medical GmbH & Co. KG, Takeda Pharmaceutical Company Limited, Koninklijke Philips N.V., AstraZeneca plc, Biodiem Ltd., Apnea Sciences Corp., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Vanda Pharmaceuticals Inc., Cadila Healthcare Limited, Johnson & Johnson Services Inc., Mylan N.V., BMC Medical Co. Ltd., Cleveland Medical Devices Inc., Serta Simmons Bedding LLC, Tempur Sealy International Inc., Sleep Number Corporation, Casper Sleep Inc., Purple Innovation Inc., Leesa Sleep LLC
1. Executive Summary
2. Sleeping Aids Market Report Structure
3. Sleeping Aids Market Trends And Strategies
4. Sleeping Aids Market – Macro Economic Scenario
5. Sleeping Aids Market Size And Growth
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27. Sleeping Aids Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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