Global Sleep Aid Market Size, Share & Trends Analysis Report by Sleep Disorder (Insomnia, Sleep Apnea, Narcolepsy, Sleep Walking, and Restless Legs Syndrome), By Products (Sleep Laboratories, Specialty Mattresses and Pillows, Medications, and Sleep Apnea Devices) Forecast Period 2021-2027.
The global sleep aid market is predicted to grow at a CAGR of 7.0%
The market is set to display impressive growth during the augur period with some key trends emerging, such as increasing incidences of lifestyle diseases, excessive usage of digital devices, increasing government support for startup companies, a growing network of healthcare facilities, and an increasing geriatric population with a sleep disorder.
For instance, As per the American Sleep Apnea Association, over 50 million Americans are diagnosed with 80 different sleep disorders each year, and 20 - 30 million people in the U.S. suffer from various intermittent sleep problems every year.
However, patient safety concerns and risks of side effects of sleep disorder medication such as dizziness, diarrhea, constipation, daytime drowsiness are some of the inhibiting factors in this market.
The rising disposable income, and rise in awareness about sleep disorders, and easy availability of sleep aid devices, would generate new chances for the sleep aid market during the forecasted period. For instance, according to the OECD, in 2018, the annual growth rate in the disposable income in Canada was 3.6%, US 2.3%, and France 1.6%, among others.
The global sleep aid market has seen a strong decline during the COVID-19 pandemic as the mental problem has been noticed during the lockdown period across the globe. Sleep disorders are one of the major mental health problems. As healthcare professionals suggested that the solid sleep is much essential for the individual's physical and mental well-being, although it is often neglected, and which leads to high incidences of sleep disorders across the globe.
Medication, sleep apneas devices, sleep laboratories, and mattresses and pillows, among others, are types of sleep aids. As lockdown implemented, that trade-in of several products including sleep aids has been limited, as has individual monthly wages, and the shutdown of manufacturing plants has been during to protect the countries from the virus. Due to the re-launches of the sleep devices by the major players the market will recover rapidly during the forecast period.
The Asia Pacific is the fastest-growing market for the global sleep aid market due to the increased healthcare expenditure along with patient awareness in countries like China and India. Besides, North America is growing due to rising healthcare investments, an aging population, and a large pool of population with sleep disorders in this region.
Key Topics Covered:
1. Report Summary
Current Industry Analysis and Growth Potential Outlook
Impact of COVID-19 on the Global Sleep Aid Industry
Recovery Scenario of Global Sleep Aid Industry
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
3. Competitive Landscape
3.1. Key Company Analysis
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.2. Key Strategy Analysis
3.3. Impact of COVID-19 on Key Players
4. Market Determinants
5. Market Segmentation
5.1. Global Sleep Aid Market by Sleep Disorder
5.1.2. Sleep Apnea
5.1.4. Sleep Walking
5.1.5. Restless Legs Syndrome
5.2. Global Sleep Aid Market by Products
5.2.1. Sleep Laboratories Services
5.2.2. Specialty Mattresses and Pillows
126.96.36.199. Prescription Drugs
188.8.131.52. OTC Drugs
184.108.40.206. Herbal Drugs
5.2.4. Sleep Apnea Devices
220.127.116.11. Diagnostics Devices
18.104.22.168. Therapeutic Devices
6. Regional Analysis
6.1. North America
6.1.1. United States
6.2.6. Rest of Europe
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Apex Medical Corp.
7.2. Braebon Medical Corp
7.3. Cadwell Industries Inc.
7.4. Compumedics Ltd.
7.5. DeVilbiss Healthcare LLC
7.6. Fisher & Paykel Healthcare Ltd.
7.7. General Electric Co.
7.8. GlaxoSmithKline plc
7.9. Invacare Corp.
7.10. Koninklijke Philips N.V.
7.11. Medtronic PLC
7.12. Merck & Co., Inc.
7.13. Natus Medical Inc.
7.14. Pfizer Inc.
7.15. ResMed Corp.
7.16. Sanofi S.A.
7.17. SleepMed, Inc.
7.18. SomnoMed Inc.
7.19. Takeda Pharmaceutical Co. Ltd.
7.20. Teva Pharmaceutical Industries Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/k55lji
View source version on businesswire.com: https://www.businesswire.com/news/home/20210920005657/en/
Laura Wood, Senior Press Manager
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