According to the analysis done by Persistence Market Research, the global sleep aids market is experiencing steady rise since past years. The global market has witnessed positive growth since 2012 and is expected to register a moderate value CAGR of 4.8% throughout the period of forecast. In 2017, the global sleep aids market reflected an estimate of around US$ 21 Bn and is anticipated to touch a value higher than US$ 31 Bn by the end of the year of assessment. This growth can be attributed towards increasing prevalence of sleep related disorders, rising demand for sleeping pills and increasing number of healthcare facilities across the globe. Moreover, emerging technologies in sleep aid devices, growing medications for improper sleep and rising use of portable sleep apnea devices is expected to contribute to the growth of the global sleep aids market.
Others segment to dominate the global sleep aids market
In the product category, the others segment is estimated to be the largest with respect to market value. During the 2012-2016 timeline, the others segment led the global market with a high revenue share and is expected to carry on with the trend during the 2017-2025 timeline. In 2017, the others segment reflected a valuation of around US$ 15.7 Bn and is estimated to reach a value higher than US$ 22 Bn by the end of the year of assessment. This segment is projected to grow at a moderate pace during the forecast period.
Mattresses and pillows to highly contribute to the growth of the others segment
In product category, the others segment is sub categorized into mattresses and pillows, chin straps and mouth pieces and nasal devices. The mattresses and pillows sub segment is the most lucrative segment and is largely adopted as a sleep aid. This sub segment is the largest with respect to market share and is estimated to reach a value about US$ 22.1 Bn by the end of the assessment period. This sub segment is projected to grow at a CAGR of 4.6% throughout the period of assessment (2017-2025). The mouth pieces and nasal devices sub segment is the second largest in the others category. Mouth pieces and nasal devices sub segment was valued at about US$ 174 Mn in 2017.
Drugs to significantly contribute to the growth of the sleep aids market
The drugs segment is the second largest product segment. Drugs are widely used as sleep aids across the globe. The drug segment stood at around US$ 3800 Mn in 2017 and is estimated to reach value of more than US$ 5.7 Bn by the end of the year of assessment (2025). This segment is projected to reach a value CAGR of 5.2% during the period of forecast. The insomnia treatment drugs sub segment is expected to push the growth of the parent drugs segment during 2017-2025. The insomnia treatment drugs sub category is projected to grow at a significant CAGR throughout the period of forecast to reach an estimate of around US$ 4 Bn by 2025 end. This sub segment is the largest in the drugs category with respect to high market share. On the other hand, the narcolepsy treatment drugs is expected to grow at a high CAGR of 5.9% during the period of assessment.
Persistence Market Research uses a unique research methodology which is a strong blend of secondary and in-depth primary research. Extensive primary interviews with key market players, stakeholders, market observers and experts are carried out to collect necessary data and information pertaining to various segments and across key regions. The data crunching and statistical analysis so performed undergoes multiple layers of validation to garner appropriate market insights which could benefit business by impacting critical decisions. The exhaustive research methodology has been applied to thoroughly understand and study the market for sleep aids and the findings and insights have been skilfully crafted following a systematic structure in the new report on sleep aids market.
Research report on global sleep aids market offers support in every respect
The market research report on global sleep aids is a comprehensive market research study which focuses on the global scenario and provides actionable acumen on various factors which influence the market which is possible with the help of strong data and statistical analysis. It delivers an unbiased view of the market by including analysis on various market segments across the major geographies of North America, Latin America, Europe, Asia Pacific and Middle East and Africa (MEA). The global research report on sleep aids market has an in-depth weightage on statistics, figures, numbers and graphs which is based on a clear market definition. This will enable the reader to take informed decisions with the help of well-furnished insights. The upcoming trends and developments, new innovations in products and varying product portfolios, new acquisitions, end user analysis and much more actionable acumen give a 3600 view to the market ultimately providing the reader with necessary tools to devise strategies in order to establish firm grip in a particular region or in a particular segment in the global sleep aids market.
A detailed competitive analysis included in the research report
The global sleep aids market research study covers competitive landscape that includes market shares, revenues, growth strategies applied, product portfolio analysis, distribution channels, expansion in several geographies, marketing strategies, SWOT analysis, pricing analysis, etc., of the various key players in the global sleep aids market. Such an intelligence framework can be used to gain competitive advantage in the long run, especially helpful for new entrants in the sleep aids market.
Delivering value – below facts support the statement