Global Sleep Aids Market Analysis

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  • Type: Common Disease Area
  • Published : March 2021
  • Region: Worldwide
  • Country: Other
  • Report ID : 151

  • Format: PPT, PDF

Global Sleep Aids Market: Segmented by Products (Mattresses & Pillows, Sleep Laboratories, Medications and Sleep Apnea Devices), by Medication Type (Prescription-based Drugs, OTC Drugs and Herbal Drugs), and by Region (North America, Europe, Asia-Pacific, Latin America and Middle East and Africa) – Growth, Trends and Forecast, 2019-2028

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Report Overview

The global sleep aids market size stood at around USD 63.11 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

Sleep aids are mainly to help people who are suffering from sleeping disorders. These are the medications or herbs which allow a person to get rest. Sleep aids will block some brain chemicals, making a person sleep, while some medicines will later change the body’s natural circadian rhythms. As sleep is the most common thing for health factors and enables many organs to function healthy, the use of sleep aids will tend to reduce long term health disorders. Herbs and natural compounds included in natural remedies also play a crucial role in maintaining a healthy sleep cycle for a person.

Market Drivers

Changes in lifestyles and a rise in the number of people with no rest in day-to-day life are a major driving factor for the market to grow. Shifting trends to maintain a healthy lifestyle by maintaining a good sleep cycle is lavishing this market’s demand to the extent. The increasing geriatric population also propels the sleep aids market. Nowadays, people are experiencing many health disorders due to lack of proper sleep, which may be due to hectic works, stress, and others, which is also an attribute accelerating the demand of the global sleep aids market.

Market Restraints

However, fluctuations in raw materials’ availability, mostly natural products, are slowly degrading the market demand. The rise in the number of patients with side effects due to long term use of these medications has remained challenging for the market. Besides, lack of complete knowledge over the dosage forms while manufacturing the products in undeveloped countries inhibits the demand of the sleep aids market. Stringent rules and regulations by the government on pharmaceutical companies may also impact negatively on the growth rate of the sleep aids market.

Major Sleep Disorders

The major sleep disorders include insomnia, sleep apnea, restless legs syndrome, narcolepsy and sleep walking.

Based on sleep disorder, the insomnia segment accounts for a significant share globally in the sleep aids market during the forecast period. 10 % to 30% of adults and up to 50% to 60% suffer from insomnia annually, according to a study published by the International Journal of Contemporary Medical Research (IJCMR). The incidence of insomnia in people is increasing majorly due to work stress, depression, anxiety disorders, excessive smoking, and alcohol consumption.

The sleep apnea segment remains the fastest-growing segment than other sleep disorders due to the growing aging population, who are more vulnerable to sleep apnea disorders, growing developments in the manufacturing processes, and existing market economies.

The sleepwalking and restless Legs Syndrome segment are forecasted to have prominent growth during the forecast period. Increasing sleepwalking and restless syndrome cases have covered the way for the inflow of voluminous growth in the sleep aids market globally.

1. Global Sleep Aids Market Overview……………………………………………………………….
A. Market Size
2. Market Growth Drivers and Restraints…………………………………..……………….
A. Market Drivers
B. Market Restraints
3. Major Sleep Disorders…..…………………………………..…………….………….
A. Insomnia
B. Sleep Apnea
C. Restless Legs Syndrome
D. Narcolepsy
E. Sleep Walking
4. Neurologic Disorder Therapeutics Market Segmentation……………………………….
A. By Products
I. Mattresses & Pillows
II. Sleep Laboratories
III. Medication
IV. Sleep Apnea Devices
B. By Medication Type
I. Prescription-based Drugs
II. OTC Drugs
III. Herbal Drugs
C. By Geography
I. North America Market Analysis
II. Europe Market Analysis
III. Asia Market Analysis
IV. Middle East and Africa Market Analysis
V. Latin America Market Analysis
5. Sleep Aids Major Market Share………………………………..
A. Key Findings
B. Market Analysis, Insights and Forecast
6. Competitive Landscape………………………………………………………….………..
A. Major Players
B. Mergers and Acquisitions
7. Key Company Profiles…………………………………………………………………….
A. Sanofi Company overview, Product & Services, Strategies & Financials
B. Merck & Co. Company overview, Product & Services, Strategies & Financials
C. Pfizer Company overview, Product & Services, Strategies & Financials
8. Potential Market Opportunities………………….….…………………………………..
A. Technological Advancements in Sleep Aids
B. Increase in Awareness about Sleep Disorders
9. Factors Driving Future Growth…………………………………………………………..
A. Key Industry Developments
10. Conclusion

Market Segmentation

By Products:

On the basis of product, sleep aids market is segmented into mattresses & pillows, sleep laboratories, medication and sleep apnea devices.

Based on the product, the mattresses and pillows segments are expected to continue leading the sleep aids market in the coming years. The segment is majorly driven by the wide features such as comfortable, conformity, accessibility of different products, and relatively cheap. Also, increasing awareness regarding the health advantages of quality sleep amid the rise in population, which in turn accelerating the Sleep aids market growth globally during the assessment period.

By Medication Type:

On the basis of medication type, the sleep aids market is segmented into prescription based drugs, OTC drugs and herbal drugs. The prescription drugs hold the largest share in the market. People suffering from lack of sleep and sleep disorders are increasing across the globe, which is anticipated to fuel the demand of the market.

By Region:

Geographically, the global sleep aids market was dominated by North America, with an overall market share of over 50% globally. Europe and Asia-Pacific followed North America. Asia Pacific is expected to exhibit a CAGR of almost 6.9% against North America’s CAGR of 5.9% over the coming years.

North America is holding the highest shares of the market due to the quick adoption of the latest technologies. Focus on developing new techniques with herbs and natural products with fewer or no side effects is gaining traction over the market shares.

Europe is positioned next to North America in ruling with dominant shares of the sleeping aids market. An increasing number of sleep apnea cases across the region is eventually making the market to grow. Also, creating awareness over the availability of different treatment procedures for sleep disorders boosts the market demand in this region.

Asia Pacific is expected to hit the highest CAGR in the coming years. The rise in the consumption rate of tobacco and alcohol is leveraging the market demand in this region. India and China are major countries contributing to the largest shares of the sleep aids market.

Top Major Players

Some of the key market participants leading the global sleep aids market profiled in this report are Sanofi, Merck & Co, Pfizer, Koninklijke Philips N.V. (Philips), GlaxoSmithKline Plc, Care Fusion Corporation, Cadwell, SleepMed, Natus Medical Manufactures, and DeVilbiss Healthcare LLC.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

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Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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