Sleep aids are pills and medical devices which enable a person suffering from sleep disorder to fall asleep. They are used for diagnosis and treatment of sleep disorders and sleep disturbances. Sleep disorders adversely affect human health and, in turn, drive demand for sleep aids. Major signs and symptoms of sleep disorders include irregular breathing or excessive daytime sleepiness, increased movement during sleep, and abnormal sleep behaviors. Sleep disorders have a severe effect on the neural efficiency of patients and may lead to accidents, poor health, relationship stress, and reduced productivity at work. Moreover, it can lead to various chronic diseases such as diabetes, cardiovascular diseases, obesity, and depression.
North America dominates the global sleep Aids market. The U.S. represents the largest market for sleep aids in North America. This is due to rising incidence of sleep disorders due to growing geriatric population, increasing demand for sleeping pills due to stressful modern lifestyle and rising initiatives by various health organization to increase awareness about sleep disorders in the country. Asia is expected to experience high growth rate over the next five years in the global sleep aids market.
Factors such as side effects associated with sleep aids medications and patent expiration of major sleep drugs are key restraints for the growth of the global sleep aids market.
This report provides in-depth analysis and estimation of the sleep aids market for the period 2014–2020, considering 2013 as the base year for calculation. Data pertaining to current market dynamics, including market drivers, restraints, trends, and strategic developments has been provided in the report. The global sleep aids market is categorized on the basis of sleep disorder, product, medication, and geography. On the basis of sleep disorder, the sleep aids market comprises insomnia, sleep apnea, restless legs syndrome, narcolepsy and sleep walking. On the basis of product, the market is segmented into mattresses and pillows, sleep laboratories, medications and sleep apnea devices.
In the geographical analysis, the report identifies and analyses market size and forecast of North America, Europe, Asia, and Rest of the World (RoW). North America is further segmented into the U.S. and Rest of North America. Similarly, Europe is further segmented into Germany, France, U.K., and Rest of Europe. Asia is further segmented into China, Japan and Rest of Asia.
These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.
Sleep aids are pills and medical devices that enable a person suffering from sleep disorder to fall asleep. Sleep aids consist of various products such as medications, sleep laboratories, sleep apnea devices, and mattresses & pillows.
Globally, the sleep aids market is witnessing significant growth due to growing aging population, increasing demand for sleeping pills due to stressful modern lifestyle, and rising initiatives by various health organizations to increase awareness about sleep disorders. However, factors such as side effects associated with sleep aids medications and patent expiration of major sleep drugs are key restraints for the growth of the global sleep aids market. The global sleep aids market was valued at US$ 58,080.0 Mn in 2014 and expected to account for US$ 80,814.7 Mn by the end of 2020 at a CAGR of 5.7%.
North America was the largest market for sleep aids in 2014, mainly due to technological advancements in the region. The North American market for sleep aids was valued at US$ 31,944.0 Mn in 2014 and is expected to account for US$ 44,523.8 Mn by 2020 at a CAGR of 5.7%. In terms of sleep disorders, sleep apnea is the fastest growing segment. In terms of product, mattresses and pillows are the largest segment in sleep aids market. In terms of medications, prescription medications are the largest segment in the market.
The North America sleep aids market was valued at US$ 31,944.0 Mn in 2014 and is expected to account for US$ 44,523.8 Mn by 2020 at a CAGR of 5.7%. The latest trends that have been observed in the global sleep aids market includes increasing usage of home sleep test for diagnosis of sleep apnea, continuous positive airway pressure (CPAP) therapy to treat sleep apnea, and wearable monitors and passive-off body sensors.
Sanofi, Merck & Co., Pfizer, Koninklijke Philips N.V. (Philips), GlaxoSmithKline Plc, Takeda Pharmaceutical Company Limited, Care Fusion Corporation, Teva Pharmaceutical Industries Ltd. are some of the leading players in the global market for Sleep Aids market. Some of the other major players in Sleep Aids market are; Cadwell, SleepMed, Inc, Natus Medical manufactures, DeVilbiss Healthcare LLC and Compumedics Limited.
Some of the major players in the sleep aids market: