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Sleep Aids Market

Growing Prevalence of Sleep Disorders and Rising Disposable Incomes are factors driving the Global Sleep Aids Market

Sleep Aids Market Segmented By Drugs, Quazepam, Narcolepsy Treatment Drugs, Modafinil, Sodium Oxybate, Armodafini Product in CPAP Devices, BiPAP Devices, APAP Devices

Sleep Aids Market Outlook (2023-2033)

The global revenue from the sleep aids market stands at US$ 27.2 Bn in 2022, with the global market expected to grow at a CAGR of 4.2% to reach a valuation of approximately US$ 43.2 Bn by the end of 2033.

Attributes Key Insights

Market Size (2022)

US$ 27.2 Bn

Projected Market Value (2033)

US$ 43.2 Bn

Global Market Growth Rate (2023-2033)

4.2% CAGR

Market Share of Top 5 Countries

54.5%

As assessed by Persistence Market Research, products like mattresses and pillows, chin straps, and mouth pieces and nasal devices are expected to hold a market value of around US$ 30.7 Bn by 2033. Overall, sleep aids market sales account for approximately 6.0% revenue share in the global sleep market, which was valued at around US$ 450.0 Bn in 2022.

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Sales Analysis of Sleep Aids Market from 2014 to 2022 Vs Market Outlook for 2023 to 2033

The global market recorded a historic CAGR of 4.6% in the last 8 years from 2014 to 2022.

Approximately 20% of Americans suffer from sleep disturbances, according to the Maternal and Child Health Bureau's 2018 statistics.

Insomnia is a common sleep disorder that is described as "the subjective perception of difficulty with sleep initiation, duration, consolidation, or quality that occurs despite adequate opportunity for sleep, and that results in some form of daytime impairment" by the American Academy of Sleep Medicine.

Chronic insomnia is a type of sleep disorder that lasts for at least three months and affects at least three evenings a week. Adults who have difficulty falling asleep, staying asleep, or waking up too early will make up one-third of the population. Older persons are negatively impacted by insomnia at a rate that is higher than that of the overall adult population.

Older adults may have both common and severe sleep problems. This inclusion is an important part of holistic care and may have an impact on mortality, disease risk, falls, and quality of life. A sleep examination should be included in complete patient evaluations. If a sleep disturbance is detected, a multifaceted strategy that considers co-morbidity, sleep disorders, and medication management should be implemented.

Understanding the intricate connection between co-morbidity and sleep in older people is a critical component of patient care.

Due to their hypnotic effects, benzodiazepines and nonbenzodiazepine benzodiazepine-receptor agonists have a long history of usage in treating insomnia, but they only slightly increase the latency and duration of sleep. The development of safer and more effective hypnotic drugs for use in older persons has prompted urgent research.

Ramelteon, a melatonin receptor agonist, was authorised as a prescription sleep aid in the US in 2005. Ramelteon is a brand-new melatonin MT1 and MT2 receptor subtype agonist with targeted actions on suprachiasmatic nucleus melatonin receptors. Ramelteon has been shown through clinical trials and post-marketing monitoring to be safe for people with insomnia.

Additionally, elderly patients suffering from depression may be more prone to report sleep disruption, than younger patients with the same indication. Depression in the ageing demographic may manifest differently as compared to the younger demographic. As the COVID-19 epidemic spread, it was crucial to determine the prevalence of sleep disruption and psychological problems, identify protective and risk factors and investigate effective response strategies.

Infectious disease epidemics have been linked to interrupted sleep, psychological distress, including traumatic stress, anxiety, and depression, according to earlier researches. Physical ailment, pre-existing issues with mental health, environmental pressures, social isolation, being cut off from friends and family as well as other outbreak-controlling measures are all contributing factors.

The global market is thus likely to show high growth over the coming years at a CAGR of 4.2% and reach a global market size of US$ 43.2 Bn by 2033.

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How Can the Global Sleep Aids Market Grow?

Digital Technologies and Internet of Things for Sleep Disorders

Interest in sleep has grown in response to the rise in desire for wellbeing. Research on sleep monitoring technology focuses on wearable gadgets like fitness bands and covers across sleep efficiency and sleep stage analysis to sleeping problem identification. Some approaches have been marketed and are available to consumers.

The subject of sleep engineering now requires a system that aids people in getting quality sleep that extends further than the level of monitoring, given the demand for digital therapies has increased recently. People who struggle to fall asleep at night, whether they have insomnia or not, are keenly interested in sleep aids.

Various audio stimuli that are currently used to induce sleep have been investigated in experiments for their effectiveness in inducing sleep.

Healthcare will become all encompassing, mobile, and digital, in the Internet of Things age, as medical facilities are connected to smartphones and wearable technology. These healthcare tools can be tracked and evaluated to change specific behaviours and can be used for self-monitoring or self-evaluation to assist people understand their behaviour, bodies, and health. Most wearable sleep monitors use actigraphy, which relies on an accelerometer placed on the wrist to detect motion of the extremities and determine whether the wearer is awake or asleep.

Actigraphy now has the ability to detect heart rate and determine different stages of sleep based on variations in heart rate brought on by sympathetic or parasympathetic modulation of the autonomous nervous system. Although certain devices have been marketed and adopted by consumers, the technology to address the identified problems with sleep is still lacking.

Studies on the monitoring of quality of sleep, sleep stages, and sleep problems including apnea are progressing. A current trend in digital therapeutics (DTx) is technology that addresses and even cures health issues including sleep disorders. When compared to current treatments, DTx has the benefit of requiring substantially less time and money to develop because of the use of digital technology and medical care.

As a result, it is gaining interest as a third-generation therapeutic agent after the first-generation therapeutic low-molecular-weight compounds.

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Can the Sleep Aids Market Growth Be Affected in Any Way?

Adverse Effects of Pharmacological Treatment, and Limitations of Digital Therapeutics

The majority of sleep aids might have unpleasant, even harmful, adverse effects. For instance, antihistamines, which are typically present in OTC sleep aids, can frequently result in constipation, blurred vision, dry mouth, dizziness, and confusion when used as prescription medication.

Additionally, it is challenging to personalise cognitive behavioural therapy when carried out using digital technology, such as a smartphone, and the attrition rate is significant due to a lack of support from a therapist. Additionally, the desire to engage in treatment is significantly diminished if the user does not believe that the insomnia has improved.

In addition, some prescribed sleeping pills might cause parasomnia. While the patients are still mostly asleep, this disruptive sleep condition might trigger dangerous behaviours. Particularly those who use Z-drugs may sleepwalk, eat, take medications, communicate, or even drive while unaware of their activities.

These limitations affect the growth of the overall market.

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Country-wise Insights

Why is the U.S. Market Booming?

“Rising Incidence of Chronic Lung Disease and Associated Sleep Disorders”

The U.S. accounted for around 90.8% market share in the North America market in 2022. The main driver of the market's expansion in North America is the region's increased alcohol and cigarette use, which has resulted in a high frequency of sleeping disorders.

Additionally, it is anticipated that the presence of major competitors in the U.S. will boost industry growth along with rising consumer knowledge of the benefits of utilising sleeping aids and enhancing sleep quality.

Moreover, there is an increase in production adoption of various devices such as CPAP and BiPAP machines, among patients with chronic lung disease within the country. Rising population with increasing disposable income will further propel the growth of the market within the country, over the forecast period.

Will Germany Be a Lucrative Market for Sleep Aids?

“Rising Ageing Population and Growing Awareness Initiatives”

Germany held around 23.0% market share of the Europe market in 2022. The British Sleep Society and Survey Sleep Research Center, among other groups, have been raising awareness about sleep disorders and the risks linked with them, which has increased consumer demand for sleeping aids in the area.

The demand within the market in the region is significantly influenced by the region's ageing population, which is a long-term trend identified by Eurostat.

Every member state of the European Union (EU) is seeing an increase in the percentage of people over 65. The growing ageing population is expected to further propel the growth of the overall market during the forecast period.

How is China Emerging as a Prominent Market?

“Rising Lifestyle Diseases and Growing Product Adoption among the Adult Age Group”

China held a market share of nearly 6% of the global market in 2022. This is due to an increase in per capita income and public awareness of the negative effects of sleeping problems. Additionally, it is anticipated that the market for sleeping aids would expand due to lifestyle changes and a growing younger population.

Furthermore, those over 40 in the nation are more likely to embrace treatment-based therapies such natural foods and supplements, whilst those born in the 1980s prefer to improve their sleeping conditions by investing heavily in luxury mattresses, bedding, and pillows. Additionally, people born in the 1990s frequently make purchases including eye masks and sprays.

Category-wise Insights

Which Product is Driving Demand within the Global Market?

“Ease of Availability and Development of Novel Products with Greater Properties”

The mattresses and pillows, chin straps, and mouth pieces and nasal devices products held around 72.3% cumulative share of the total market in 2022.

The segment's rise is primarily being driven by two main factors: a high awareness of the advantages of getting quality sleep and the ease of use and availability of a variety of products. In addition, a number of e-commerce companies, including a few that are marketing mattresses developed from plant-based foams and natural flame-retardant materials, are now selling high-quality memory-foam mattresses at rates lower than those of conventional manufacturers.

The practical advantages of sheets manufactured from organic cotton, bamboo, and Tencel, which is a textile made of wood cellulose that boasts greater breathability and moisture absorption than cotton. Innovative bedding manufacturers are commending such products.

Which Indication is Largely of Focus within the Global Market?

“Growing Threat of Insomnia and Associated Impact on Healthcare Costs”

Insomnia held a share of about 34.9% in 2022 globally. It is typical to experience insomnia, whether it be short-term or chronic. Patients with concurrent psychological and medical illnesses, people going through menopause, elderly patients, and those in vulnerable patient groups are all negatively impacted.

The most prevalent sleep disorder, insomnia, places a significant burden on the health care system and patient populations who are most vulnerable to risk.

Additionally, insomnia is associated with increased healthcare expenditure, particularly in patients with concurrent medical or psychiatric conditions, highlighting why it is a crucial managed care issue and a segment, on which the current market study is placing emphasis.

Which Distribution Channel Generally Promotes Market Growth?

“Consumers’ Access to Product Information and Convenience in Buying”

The e-commerce segment holds a share of about 20.5% in 2022. The continued use of e-commerce platforms, similar to the continued use of traditional social media and smartphones, has made shopping more convenient for consumers, but it has also resulted in problems with life and learning for consumers, including anxiety, depression, distraction, insomnia, and compulsive buying.

Moreover, the adoption of e-commerce platforms by consumers is influenced by a variety of factors. Expertise and interaction are crucial from the viewpoint of social media influencers. E-commerce platforms also help consumers share their personal information and give them access to useful information.

Competition Landscape

Companies are concentrating on the strategy of acquiring products to gain market share and enter new markets.

One of the main strategies used by North American manufacturers is to expand their line of products by introducing new ones with improved features.

To increase their market share, major companies in the global market are concentrating on releasing new products.

Some key instances of development include:

  • The first oral medication for both stages of the Trypanosoma brucei gambiense variant of sleeping sickness, Fexinidazole from Sanofi received FDA approval in July 2021.
  • In an effort to close the gap left by Philips' CPAP recall, ResMed announced a new sleep apnea device, the new AirSense 11, in August 2021.

Similarly, the team at Persistence Market Research has tracked recent developments related to companies in the sleep aids market, which are available in the full report.

Sleep Aids Industry Report Scope

Attribute Details

Forecast Period

2023-2033

Historical Data Available for

2014-2022

Market Analysis

  • USD Million for Value
  • Units for Volume

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Turkey
  • GCC
  • North Africa
  • South Africa

Key Market Segments Covered

  • Product
  • Indication
  • Distribution Channel
  • Region

Key Companies Covered

  • ResMed Inc.
  • Koninklijke Philips N.V.
  • Merck & Co. Inc.
  • Drive DeVilbiss Healthcare LLC
  • GlaxoSmithKline Plc.
  • Fisher & Paykel Healthcare Limited
  • Sanofi SA
  • Pfizer Inc.

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Segments Covered in Global Industry Research

Product:

  • Drugs
    • Insomnia Treatment Drugs
      • Doxepin Hydrochloride
      • Eszopiclone
      • Ramelteon
      • Triazolam
      • Zaleplon
      • Quazepam
      • Others
    • Narcolepsy Treatment Drugs
      • Modafinil
      • Sodium Oxybate
      • Armodafinil
      • Others
  • Devices
    • CPAP Devices
    • BiPAP Devices
    • APAP Devices
  • Others
    • Mattresses and Pillows
    • Chin Straps
    • Mouth Pieces and Nasal Devices

Indication:

  • Insomnia
  • Sleep Deprivation
  • Narcolepsy
  • Sleep Apnea
  • Others

Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • e commerce
  • Drug Stores
  • Others

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

- Companies Covered in This Report -

  • ResMed Inc.
  • Koninklijke Philips N.V.
  • Merck & Co. Inc.
  • Drive DeVilbiss Healthcare LLC
  • GlaxoSmithKline Plc.
  • Fisher & Paykel Healthcare Limited
  • Sanofi SA
  • Pfizer Inc

- Frequently Asked Questions -

The global market is currently valued at around US$ 27.2 Bn in 2022.

Sales of the market are set to witness growth at a CAGR of 4.2% and be valued at around US$ 43.2 Bn by 2033.

Demand for the global market increased at a 4.6% CAGR from 2014 to 2022.

The U.S., Germany, China, U.K., and India account for most demand within the market, currently holding around 54.5% market share.

The U.S. accounts for around 90.8% share of the North American market in 2022.

Latin America accounts for around 9.2% share of the global market in 2022.

China market held a share of about 6% in the global sleep aids market in 2022.

Germany held around 23.0% market share of the Europe market in 2022.

Brazil market is expected to grow at a 6.1% CAGR during the forecast period.

The sleep aids market in India is set to expand at a 6.1% CAGR over the forecast period.

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