Sleep Aids Market Expanding

  • The primary factors driving the growth of sleep aids market are increasing prevalence of sleep disorders.
  • Lack of awareness in developing countries about the major issues related with sleep disorder is the major factor deterring growth.
  • North America is the largest market for sleep aids.

In terms of revenue, others product type segment-consisting of mattresses and pillows, chin straps and mouth pieces & nasal devices is projected to remain dominant. By indication type, insomnia segment is expected to be most dominant segments and collectively gain more the 35% market share over the forecast period. Sleep apnea segment is expected to gain more traction than narcolepsy over the next decade owing to rising prevalence of obstructive sleep apnea.Among all distribution channel e commerce segment is the second most dominant segment for sleep aids market which is then followed by hospital pharmacies. Asia-Pacific is the second most lucrative region for the sleep aids market and projected to grow at fastest CAGR over the forecast period.

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On the basis of region, the market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America is the largest market. Asia-Pacific is the fastest growing marketplace for sleep aids market.

The primary factors driving the growth of sleep aids market are increasing prevalence of sleep disorders such as sleep apnea, insomnia, narcolepsy, sleep deprivation and others. The healthcare facilities are focusing on the implementation of several educational program to raise awareness among the general population regarding the ill effects caused due to untreated sleep disorders and this will upsurge the demand for sleep aids drugs and devices products in near future. Other factors influencing growth of global sleep aids market include growing awareness about the sleep related disorders, rise in online sales, and others.

However, lack of awareness in developing countries about the major issues related with sleep disorder is the major factor deterring the growth of sleep aids market.

Some key players in the global sleep aids market across the value chain areResMed Inc., Koninklijke Philips N.V., Merck & Co. Inc., Drive DeVilbiss Healthcare LLC, GlaxoSmithKline Plc., Fisher & Paykel Healthcare Limited, Sanofi SA, and Pfizer Inc.Leading manufacturer are focusing to expand their regional presence in the emerging geographies such as APAC and MEA by collaborating with the distributers.

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