The report on the Sleep Aids Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2022-2028. The report also offers insights into different market segments and other factors affecting the market.

Report Forecast:

The sleep aids market was estimated at US$ 64.1 billion in 2021 and is expected to grow at a CAGR of 6.39% during 2022-2028 to reach US$ ~99.28 billion in 2028.

Sleep is a biological necessity that influences memory, maintains cognitive abilities, and maintains metabolic balance. People's general health is impacted by poor sleeping habits, which can result in chronic diseases like diabetes, rheumatoid arthritis, high blood pressure, and stroke. They are supported by medications and medical equipment that are used to treat and diagnose a variety of sleep disorders, including insomnia, narcolepsy, sleep apnea, and others. The expansion of the market for sleeping aids is anticipated to be fueled by the growing awareness of this illness among the world's population and its adverse repercussions.

The market's growth is influenced by a number of factors that have a significant or indirect impact on demand. An overview of such factors can be found in our report, which is derived utilizing SWOT analysis, industry life cycle, and supply chain analysis. Such key information can help market participants and investors identify the low-hanging fruits in the market and establish strategic initiatives to accelerate their growth.

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The Cornerstones in the market-

The following are the major players in the sleep aids market:

• Acelity L.P. Inc. (Kinetic Concepts, Inc.)
• AstraZeneca Plc
• Biodiem
• Cadwell Industries Inc.
• Compumedics Limited
• CSL Limited
• Pfizer
• Drive DeVilbiss Healthcare Inc.
• Eisai Co., Ltd.
• Emergent Biosolutions
• F.Hoffmann-La Roche Ltd
• SleepMed Inc.
• Takeda Pharmaceutical Company Limited
• Tempur Sealy International Inc.
• Fisher & Paykel Healthcare Limited
• Gamma Vaccines Pty Ltd.
• GlaxoSmithKline Plc.
• Koninklijke Philips N.V.
• Merck and Co. Inc.
• Natus Medical Incorporated
• Novartis AG, Pfizer Inc.
• ResMed Inc.
• Sanofi S.A.
• Serta Simmons Bedding LLC
• Sinovac Biotech Ltd.

Sleep Aids Market Segmentation:

The market is divided based on product and sleep disorder. On the basis of product, the market is further segmented into mattresses & pillows, medications, sleep apnea devices, others. the medications segment is further divided into prescription-based drugs, over the counter drugs, and herbal drugs. Moreover, the sleep apnea devices segment is further classified into positive airway pressure (PAP) devices, facial interfaces, oral appliances, adaptive servo-ventilators (ASVs). The market for a sleep aid was led by the pillows and mattresses sector, which is predicted to continue dominating during the forecast.

The arrangement of the mattresses and pillows is expected to be influenced by the expanding advancements in industrial techniques. The main factors influencing segmental growth include the ease with which a variety of things can be used and obtained, as well as increased awareness of the health benefits of getting good sleep. The health association's efforts to develop new, better, and more organised sleeping aids will be accelerated by the growing difficulties of sleeplessness. The expansion of the global market for sleeping aids is significantly influenced by the changing lifestyles of people.

On the basis of sleep disorder, the market is further segmented into insomnia, sleep apnea, restless legs syndrome, narcolepsy, sleep walking, others. Due to the increase in healthcare awareness, the rising prevalence of sleeping apnea, the decline in people's physical activity, and the progression of the geriatric population, the segment of insomnia observed the major market share and is projected to lead the market for sleeping aids and its governance in the business during the period of forecast.

A disorder called insomnia makes it difficult to get to sleep or stay asleep. The increasing prevalence of the condition globally can be blamed for a sizable share of the industry. This condition's primary causes include pain, depression, protracted stress, and others. A developing treatment practise in this area is also a growth sponsor. Because of this, the category for sleep apnea may experience the biggest growth during the forecasted time.

The sleep aids market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The market segment with the largest market shares was North America. The market share may be attributable to the increased prevalence of sleep disorders brought on by the increased usage of tobacco products and alcohol intake in the nation.

Additionally, it is anticipated that the market would rise due to the presence of important commercial entities in the United States and the rising consumer awareness of sleep aid and sleep excellence goods. The market for sleeping aids, devices, and medications is expected to see increased demand as the number of overweight and older people grows.

Throughout the forecasted years, the sleep aids market in Asia-Pacific is anticipated to exhibit the highest CAGR. Additionally, it is anticipated that the changing pattern, which involves chaotic busy hours due to the expanding younger population, would present tremendous prospects for market growth. The highest rate of company growth in the Asia-Pacific region is attributed to the rising per capita income from profits and the growing awareness of the negative consequences on the populace. Additionally, the rising trend toward OTC medication use is anticipated to fuel rapid market expansion in developing nations like China, India, Japan, and others.

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-       Company Profiling

-       Detailed profiling of key market players (up to 3 players)

-       SWOT analysis of key market players (up to 3 players)

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