A sleep aid is a substance or method used to help people fall asleep and stay asleep. It is often used to treat sleep disorders such as insomnia, or to resolve temporary sleep problems due to stress, jet lag, or other factors.of The sleep aid market will generate $59.8 billion in 2020 and is projected to reach $111.9 billion by 2030, at a CAGR of 6.9% from 2021 to 2030.
Examples of sleep aids include:
- Medications: Prescription sleeping pills, including benzodiazepines, non-benzodiazepine hypnotics, and antihistamines.
- Over-the-counter medications: melatonin, valerian root, and other herbal supplements.
- Change behavior: Establish a regular sleep schedule, avoid screens before bed, and create a relaxing bedtime routine.
- Devices: White noise machines, sleep masks, and weighted blankets can help create a more comfortable sleep environment.
Sleep aids can cause side effects or interact with other medications, so it is important to use them with caution and under the guidance of a healthcare professional. Additionally, lifestyle changes and addressing underlying medical or psychological conditions that affect sleep are often recommended before using sleep aids.
sleeping pills market in short:
✅ CAGR: 6.9%
✅ Current market size: USD 111.9 billion
✅ Fastest growing region: APAC
✅ Largest Market: North America
✅ Projection time: 2021-2030
✅ Base year: 2021
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Which are the most influential growing segments in the Sleep Aid Market report?
The mattress and pillow segment is the most influential segment due to technological advances in sleep aid devices, increasing adoption of these devices.
What are the key trends in the sleep aid market report?
Technological advances in sleep aids, increasing adoption of sleep aids, and rising incidence of sleep disorders such as insomnia are the major trends in the sleep aid market report.
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Covid-19 situation –
- The COVID-19 disease outbreak is negatively impacting the growth of the global sleeping pills market due to the decline in sleep aid products for sleep disorders.
- Additionally, retailers have cut back on investments in equipment and supplies as factories have closed to protect workers across the region, which is impacting market growth.
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The increasing elderly population and large population are supporting the growth of the market as the risk of sleep disorders increases with age and obesity. Additionally, increasing initiatives by the health industry to make people aware of the negative impact of sleep disorders on human health, lifestyle changes, and inconsistent sleep patterns drive the market growth. However, impacts on sleeping pills usage and patent expiry are expected to limit the market growth.
The sleep lab segment is expected to grow at the fastest rate and provide economic opportunities for marketers. They are used to diagnose and treat sleep disorders. The presence of a large number of patients with undiagnosed sleep problems is expected to make progress in this area.
Leading Key Market Players in the Industry –
- Cadwell Industries, Inc.
- Compumedics Limited
- Drive Devilbiss Healthcare Co., Ltd.
- GlaxoSmithKline
- Merck
- Natas Medical Co., Ltd.
- Koninklijke Philips NV
- Pfizer
- Sanofi SA
- Sleep Med Co., Ltd.
Market: Regional Outlook
- North America (USA, Canada, Mexico)
- Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, Korea, Rest of Asia Pacific)
- LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Other LAMEA)
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Key questions answered in this market report are:
Q1. What is the total market value of the Sleep Aid market report?
Q2. Who are the top companies holding market share in the sleep aid market?
Q3. What is the forecast period of the market report?
Q4. What is the base year calculated in the Sleep Aid Market report?
Major Findings of the Study –
- Based on product, the bed and pillow segment holds the share of the global sleep aid market in 2020.
- Based on sleep disorders, the insomnia segment accounted for the largest share of the sleeping pills market in 2020 and is expected to remain dominant during the forecast period.
- This region, Asia-Pacific, is expected to witness the highest growth rate, registering a CAGR of 9.2% during the forecast period.
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