Sleep Aids Market

Market Study on Sleep Aids: Sales through e-Commerce Channels to Rise Rapidly

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

  • November-2021
  • PMRREP2832
  • 164 Pages
  • Healthcare
  • PPT, PDF, WORD, EXCEL

Market Snapshot

The global sleep aids market was valued at US$ 24.6 Bn in 2020, and is expected to register a CAGR of 4.5% during the forecast period (2021-2031). As per Persistence Market Research’s latest projections, mattresses and pillows, chin straps, mouth pieces, and nasal devices hold a substantial market share of around 72.9%. Sales of sleep aids accounted for nearly 6% of the global US$ 450 Bn sleep market value in 2020.

Sleep Aids Market Value (2020)

US$ 24.6 Bn

Forecasted Sales of Sleep Aids (2031)

US$ 40.1 Bn

Projected Market Growth Rate (2021-2031)

4.5% CAGR

Key Players (100% Market Share)

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

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Companies

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

Demand Analysis of Sleep Aids from 2016 to 2020 Vs Market Outlook for 2021 to 2031

Increased patient base affected with Obstructive Sleep Apnea (OSA), respiratory issues, and cardiovascular disorders is anticipated to drive demand for sleep aids across the world.

Insomnia is a medical sleep disorder that causes difficulty in falling asleep or staying asleep through the night. Common causes of insomnia, also known as sleep deprivation, include depression, chronic stress, arthritis, and pain or discomfort at night.

Sleep apnea devices such as Continuous Positive Airway Pressure (CPAP) devices are used as a treatment therapy for sleep-related disorders. Adoption of CPAP devices is increasing as they help maintain proper sleep and also provide relief from snoring. Companies are increasingly focusing on manufacturing different types of CPAP devices.

The global market for sleeping products is expected to register a CAGR of 4.5% over the forecast period (2021-2031).

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What are the Key Opportunities Awaiting Manufacturers of Sleep Aids?

Changes in sleep patterns triggered by lifestyle changes, rising affluence of consumers, improved access to healthcare services, and rise in demand for quality healthcare are all driving growth of sleep aid suppliers.

Increasing product approvals and government funding for better treatment options and sleep apnea testing are opening huge possibilities for manufacturers of sleep aid treatment products to combat chronic sleep disorders and gain market share.

  • In Oct 2019, Fisher & Paykel healthcare upgraded the guidance on release of new OSA masks in the U.S.
  • In May 2019, Merck’s BELSOMRA (suvorexant) C-IV met primary efficacy endpoint in phase-3 trial for the treatment of insomnia in people with mild-to-moderate Alzheimer’s disease and dementia.
  • In Sept 2018, Tris Pharma acquired NextWave Pharmaceuticals (NextWave), a wholly-owned subsidiary of Pfizer Inc. The acquisition expanded Tris' portfolio of products for the treatment of patients with ADHD.

Market Research Methodology - Perfected through Years of Diligence

A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.

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What are the Factors Restraining Demand for Sleeping Aids?

Introduction of new technologies has raised complexity concerns in the treatment of sleep disorders. In addition, lack of proper documentation for the usage and licensing of sleeping pills and improper equipment standardization associated with sleep devices are responsible for slower market growth.

There are many drugs available in the market to treat insomnia and narcolepsy, but the side effects of these drugs are very risky. The most common side effects associated with sleep aid medications are headache, prolonged drowsiness, daytime memory and performance problems, allergic reactions, etc.

These side effects are associated with OTC as well as prescription-based sleep aid medications, which hinders market growth to some extent.

Small manufacturers of sleeping aids are losing domestic ground due to the strong presence of top tier companies. Such limitations have hampered product adoption, thereby restricting market growth slightly.

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Country-wise Insights

What Makes the U.S. Sleep Aids Market the Biggest in the World?

Higher prevalence of sleep disorders leads to higher demand for related treatment. The U.S. currently holds more than 90% revenue share in North America market, and is expected to continue growing through 2031.

Furthermore, higher awareness about sleep aid products and presence of major market players such as Merck and Pfizer in the country are expected to boost demand for sleep aids in the U.S.

Why is Germany Considered a Lucrative Market for Sleep Aids in Europe?

Germany dominates the European market for sleep aids with more than 20% market share, owing to the various sleep disorders that are interfering with people's lives in the country as a result of rising cigarette and alcohol consumption, increasing ageing population, growing population base working night shifts, and changing European living preferences.

Why is China Considered an Emerging Market for Sleep Aids?

China holds the market share in the East Asia market, and is projected to expand at around 7% CAGR. Advanced healthcare infrastructure, increased prevalence of insomnia, increase in younger population base, and change in lifestyles are major factors attributed to the growth of the market in the country.

Category-wise Insights

Which Sleep Aid Products are Driving Market Growth Substantially?

By product, mattresses and pillows, chin straps, mouth pieces, and nasal devices hold 72.5% market share, expanding at CAGR of 4.3% during the forecast period. Primary factors driving segment growth include easy usability & availability of a variety of items and high awareness about the health benefits of quality sleep.

Impact of COVID-19

The COVID-19 pandemic led to a slight decline in the demand for sleep aids due to widespread financial distress, limited production, closure of manufacturing facilities to protect workers, transportation-related delays owing to travel restriction, and driver shortages. Quarantine measures made it difficult for freight service providers to keep freight moving smoothly. Major disruptions in the global supply chain impacted the market negatively.

However, owing to ongoing product advancements and change in regulations for different applications will enable the market to experience significant growth opportunities in the post-pandemic era.

Competitive Landscape

Major market players dealing in sleep aid products are concentrating on acquisitions, product developments, and product launches to boost their growth possibilities. The major strategy of sleep aid manufactures is to increase investments in product R&D in order to meet the demand of a certain patient demographic. Market players are also focusing on expanding the geographical reach of existing and new products.

  • In December 2019, Eisai Co., Ltd. announced that the U.S. FDA approved a new drug application for its in-house discovered and developed orexin receptor antagonist DAYVIGOTM (lemborexant). DAYVIGO was approved for the treatment of insomnia characterized by difficulties with sleep onset and/or sleep maintenance in adults.
  • In July 2018, GSK and 23andMe announced the signing of an agreement to leverage genetic insights for the development of novel medicines.
  • In April 2017, Koninklijke Philips announced the launch of DreamStation Go, its newest and smallest positive airway pressure (PAP) device designed to simplify travel for patients living with OSA.

Similarly, recent developments related to sleep aids have been tracked by the team at Persistence Market Research, which are available in the full report.

Sleep Aids Industry Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Key Countries Covered

  • US
  • Canada
  • Brazil
  • Mexico
  • Argentina
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Poland
  • China
  • Japan
  • India
  • Australia
  • New Zealand
  • ASEAN
  • GCC Countries
  • South Africa

Key Market Segments Covered

  • Product
  • Indication
  • Distribution Channel
  • Region

Key Companies Profiled

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

Pricing

Available upon Request

Key Segments Covered in Sleep Aids Industry Survey

By 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 & Pillows,
    • Chin Straps
    • Nasal devices and Mouthpieces

By Indication

  • Sleep Aids for Insomnia
  • Sleep Aids for Sleep Deprivation
  • Sleep Aids for Narcolepsy
  • Sleep Aids for Sleep Apnea
  • Others

By Distribution Channel

  • Sleep Aids Sold at Hospital Pharmacies
  • Sleep Aids Sold at Retail Pharmacies
  • Sleep Aids Sold through e-Commerce
  • Sleep Aids Sold at Drug Stores
  • Others

Media Release

- FAQs -

The global sleep aids market is worth US$ 25.8 Bn at present, and is set to expand 1.6X over the next ten years.

The market for sleep aids is expected to reach US$ 40.1 Bn by 2031, while expanding at a CAGR of 4.5%.

From 2016-2020, the market expanded at a CAGR of 3.7%.

Emerging new technologies in sleep devices, increasing prescription medication of sleep aids, and growing usage of portable sleep apnea devices are some of the key trends being witnessed in this marketplace.

The US, Germany, China, U.K., and India are expected to drive most demand for sleep aids.

North America is one of the key markets for sleep aids. The U.S. is expected to account for over 90% of the North American market share.

Demand for sleep aids in Europe is expected to register a CAGR of 3.6% over the forecast period.

Sales of sleep aids are expected to register a growth rate of around 6% in East Asia through 2031.

ResMed Inc., Koninklijke Philips N.V., Merck & Co. Inc., Drive DeVilbiss Healthcare LLC, GlaxoSmithKline Plc., Fisher & Paykel Healthcare Limited, Sanofi SA, Pfizer Inc, and Eisai Co., Ltd. are key manufacturers of sleep aids.

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