Sleeping aids are medicines & medical devices, which are solutions to the sleeping disorder of any individual. Seeping aids ensure the treatment & diagnosis of sleep disturbances & disorders. Key symptoms of sleep disorders include abnormal sleeping behaviors, irregular breathing, daytime sleepiness, and increasing movements during sleep. Sleeping disorders have an adverse/unfavorable effect on human health. It can cause neural problems that may lead to accidents, lower the efficiency of work done by the individual, and can cause stress & depression. Furthermore, sleep disorders can lead to major chronic diseases for instance cardiovascular diseases, obesity, and diabetes.
As per analysis, “Global Sleeping Aids Market: Market Segments: By Product Type (Mattresses and Pillows, Sleep Laboratory Services, Medication, Sleep Apnea Devices); By Sleep Disorder (Insomnia, Sleep Apnea, Restless Legs Syndrome, Narcolepsy, Sleep Walking); and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030” few of the leading companies that are currently working in the global sleeping aids market include Cadwell Industries Inc., Takeda Pharmaceutical Company Limited, Koninklijke Philips N.V, Acelity L.P. Inc. (Kinetic Concepts, Inc.), Serta Simmons Bedding LLC, Merck & Co. Inc., Natus Medical Incorporated, Compumedics Limited, Pfizer Inc., Serta Simmons Bedding LLC, SleepMed Inc., Sanofi, Drive DeVilbiss Healthcare, GlaxoSmithKline plc., Tempur Sealy International Inc., Merck & Co. Inc. and among others. Leading players are focusing on introducing & commercializing innovative products to improve their market presence.
Based on product type, the sleeping aids market is segmented as medication, sleep laboratory services, mattresses & pillows, sleep apnea devices, and others. The mattresses & pillows segment holds a major share in the global market owing to the increase in the prevalence of sleep disorders. In addition, based on sleep disorder, the market is segmented as restless legs syndrome, insomnia, narcolepsy, sleep apnea, and sleepwalking. The sleep apnea segment is likely to witness a higher growth rate due to growth in the aging population, an increase in the availability of a number of therapeutic options, and a rise in awareness about sleep apnea during the forecast period.
The sleeping aids market is driven by rise in adoption of sensors & wearable monitors, followed by growth in prevalence of obstructive sleep apnea (OSA), stressful working conditions, and change in lifestyle, inconsistent sleeping hours, increase in usage of portable sleep apnea devices, growth in geriatric population and increase in the number of healthcare facilities. However, side effects related to the use of sleeping pills and devices may impact the market.
Based on geography, the North-America is a leading region in the global sleeping aids market owing to stressful modern lifestyles & work-life coupled with the increase in initiatives taken by government & non-government organizations to increase awareness about sleep disorders & sleep hygiene across the region. The Asia-Pacific and Europe regions are estimated to exhibit higher CAGR due to rise in demands for sleeping pills & medical devices from an enormous population over the forecast period. It is anticipated that the future of the global sleeping aids market will be bright because of rise in prevalence of insomnia, growth in the geriatric population and increase in government support for startup companies during the forecast period.
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Ankur Gupta, Head Marketing & Communications