Global market Study on Sleep Aids: Sleep Apnea Remains Dominant by 2020 End, Asia Estimated to Witness Rapid Growth


  • Published On : Jul-2015 |
  • Pages : 101 Pages |
  • Format :

Inadequate quality sleep has become a global issue these days. A large number of people worldwide are following a busy and stressful lifestyle due to demanding professions. As a result, the incidences of sleep-related disorders are increasing, widening the market for sleep aids penetration. Persistence Market Research’s newly published report on the global sleep aids market is a detailed study of the market for sleep aids on a global level. The report analyzes the historic and current market condition, and forecasts the same for a six-year period - 2014-2020. For market value calculations, 2013 is considered as the base year.

Starting with an overview that comprises market definition, general outlook, forecast period, yearly growth rates, and estimated revenues, the report further discusses key drivers and restraints impacting the market growth directly or indirectly. These positive and negative factors are elaborated along with their low, medium, or high impact level. The next section analyzes a few upcoming opportunities in the market and some of the latest trends that will impact the market growth in the near future. This helps to identify the biggest opportunities that lie over the forecast period.

In segment analysis, the report includes extensive data about all the key segments and their sub-segments. This part of the report helps in understanding of the product consumption pattern, precise market penetration, and attributes that decide the condition of respective segments in the global market. Following segmentation, the report features regional analysis that categorizes the global market into four key regions. Regional analysis examines each regional market and provides information about its historic and estimated market sizes, drivers and restraints, consumer behavior, and growth prospects during 2014-2020. The last section of key market players profiles all the major companies participating in the global sleep aids market landscape. Company profiles are based on attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.

Research Methodology

To deduce the global sleep aids market size, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by product type, sleep disorder, and medication; and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global sleep aids market.

The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on supply side and demand side drivers and other key dynamics of the global sleep aids market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities.

Another key feature of this report is an analysis of the global sleep aids market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global sleep aids market. Further, to understand key segments in terms of their growth and overall global sleep aids market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global sleep aids market.

Used in diagnosis and treatment of sleep disorders or sleep disturbances, sleep aids are high in demand today. They can be drugs or devices that help people overcome sleep-related disorders and lead a healthy life. The global sleep aids market registered a value worth US$ 58.1 Bn in 2014. According to PMR’s research, the market is projected for a value of around US$ 80.8 Bn by the end of 2020. During this six-year forecast period, the global market for sleep aids will expand at a moderate CAGR of 5.7%. With growing demand for medications that help quality sleep, the market for sleep aids is witnessing steady growth.

Key Market Dynamics

Lack of quality sleep remains a key factor sustaining the demand for sleep aids on a global level. Growing incidences of physical and psychiatric issues, medical disorders, and environmental disturbances are increasingly leading into shifted sleeping patterns, which is another driver to the market growth. People nowadays often change their sleeping schedules due to a busy professional lifestyle that ultimately results in lack of quality sleep. With increasing number of professionals working in night shifts rescheduling their sleeping time, sleeping aids are likely to gain traction in the next few years. A considerable size of global population is now aware of the ill effects of a sleep disorder, including altered neural efficiency, poor health condition, increased risk of accidents, reduced productivity, stress-laden relationships, and augmented chances of acquiring chronic diseases such as cancers, CVDs, diabetes, obesity, and long-term depression. Apart from a majority of geriatric population preferring sleeping pills frequently, growing awareness among consumers is providing a strong impetus to the sleeping aids market. Several healthcare organizations are initiating sleep disorder awareness programs, which will further propel the demand for sleeping aids, eventually boosting the market.

Adoption of home sleep test kits is one of the latest trends among people with higher chances of acquiring sleep apnea. The market is also witnessing spiking sales of wearable monitors and passive-off body sensors since the recent past. Moreover, continuous positive airway pressure (CPAP) therapy to treat sleep apnea is also trending in the global market for sleep aids.

However, sleep aids are often associated with certain side effects, which will continue to limit penetration. Apart from side effects of medications, patent expiry of major sleep drug is also a critical factor that may hamper the market growth.  

Segment Analysis

The global sleep aids market is segmented on the basis of sleep disorder into insomnia, sleep apnea, restless legs syndrome, narcolepsy, and sleep walking, based on product into mattresses and pillows, sleep laboratories, medications, and sleep apnea devices. By medication, the market is fragmented into prescription-based drugs, OTC drugs, and herbal drugs. Based on the sleep disorder, sleep apnea will remain the fastest growing segment, whereas mattresses and pillows will continue to lead the market based on product type. On the basis of medication, prescription medications form the largest segment in the market.

sleep-aids-market

Regional Analysis

Based on geography, the global market for sleep aids is classified into three key regions viz. North America (the U.S.), Europe (Germany, France, and the U.K.), and Asia (China and Japan). North America, especially the U.S., is observed to be the dominant market globally, owing to rapid technological advancements and growing awareness about adverse consequences of sleep disorders among consumers in the region. The market in North America is anticipated to reach US$ 44.5 Bn in 2020, up from US$ 31.9 Bn attained in 2014. The market in this region is likely to expand at a CAGR of 5.7% over 2014-2020. Asia is foreseen to be a significantly growing market for sleep aids and the growth is attributed to rising incidences of sleep disorders as a result of busy, stressed lifestyle.

Key Market Players

A number of companies compete in the global sleep aids market. Some of the leading names are Pfizer, Sanofi, Merck & Co., GSK Plc, SleepMed, Inc., Koninklijke Philips N.V. (Philips), DeVilbiss Healthcare LLC, Takeda Pharmaceutical Company Limited, Care Fusion Corporation, Cadwell, Teva Pharmaceutical Industries Ltd., Compumedics Limited, and Natus Medical manufactures.

Some of the major players in the sleep aids market:

  • Sanofi.
  • Merck & Co.
  • Pfizer.
  • Koninklijke Philips N.V. (Philips).
  • GlaxoSmithKline Plc.
  • Takeda Pharmaceutical Company Limited.
  • Care Fusion Corporation.
  • Teva Pharmaceutical Industries Ltd.
  • Cadwell, SleepMed, Inc.
  • Natus Medical manufactures.
  • DeVilbiss Healthcare LLC.
  • Compumedics Limited.
  • Other
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