The Sleep Aids Market Size was valued at USD 60.2 Billion in 2022 and is projected to grow from USD 64.5 Billion in 2023 to USD 112.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.20% during the forecast period (2023 - 2032). The rise in the aged and overweight population, the alteration of sleep patterns caused by lifestyle changes, the rise in consumer wealth, and the expansion of medical services due to the increased demand for high-quality healthcare, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market for sleep aids is growing due to the use of sleep assist products and growth in non-refundable income. In addition, the number of old and overweight people has increased, which has led to an increase in sleep disorder instances. This is anticipated to result in an increase in the number of patients with sleep disorders, which will help drive the market's growth. In addition, the advancement of sleeping aid products helps them gain popularity and fill market gaps in growing financial conservatism, which is expected to present lucrative opportunities for market expansion.
The growing prevalence of sleepiness worldwide has increased demand for sleep aids in the market. There is a universal need for sleep aids across all age groups. The market for sleep aids is expanding as a result of changes in lifestyle that affect sleep patterns, improved access to healthcare resources, rising consumer prosperity, and rising demand for quality healthcare. To expand their development chances, major market participants in sleep aid therapies are concentrating on product advancements, successes, and the launch of new products. To address the demographic demand of some patients, manufacturers of sleep aids are increasing their spending in R&D goods. Many medical professionals concurred that sleep aids are useful. The number of complaints about restlessness in older persons has increased, which has boosted the market for sleep aids worldwide. Healthcare professionals are expected to develop new sleep aids in the near future. In the upcoming years, it is expected that sleep apnea devices will be approved. The health association's efforts to develop new, better, and more organized 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. In the following years, it is anticipated that the global market for sleep aids would generate enormous financial gains.
The surge in patients with sleep disorders brought on by an aging and obese population is what is driving the market's expansion. The market expansion for sleeping aids is being driven by the significance of employing sleep help items and rising non-refundable income. The global population's growing efforts to combat this ailment are expected to lead to an increase in the demand for sleeping pills. The increasing use of medication by those who suffer from sleep disorder breathing is anticipated to have a beneficial effect on the expansion of the global market for sleeping aids. This type of patient is at a significant risk of infection because they are dealing with several negative disease-related effects. However, another significant factor driving the growth of the market for sleeping aids is the changing sleeping patterns of the global population as a result of changing lifestyles. It is anticipated that current product improvements with revised guidelines as a result of the COVID-19 epidemic's varied importance will positively impact market expansion following the pandemic. Thus, driving the Sleep Aids market revenue.
Sleep Aids Market Segment Insights
The Sleep Aids Market segmentation, based on Product, includes mattresses & pillows, medications, sleep apnea devices, and others. With a significant market share in 2022, the mattresses & pillows category led the market for sleep aids and is predicted to continue to do so over the course of the projection. The arrangement of the mattresses and pillows is expected to be influenced by the expanding advancements in industrial techniques.
The Sleep Aids Market segmentation, based on Sleep-Disorder, includes insomnia, sleep apnea, restless legs syndrome, narcolepsy, sleep walking, and other sleep disorders. Due to the rise in healthcare awareness, the rising prevalence of sleep apnea, the decline in people's physical activity, and the advancement of the geriatric population, the insomnia segment captured the largest market share in 2022 and is predicted to lead the market for sleeping aids and its governance in the industry during the forecast period.
Figure 1: Sleep Aids Market, by Sleep-Disorder, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Sleep Aids Market dominated the global market in 2022 with 45.80% share. 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. Further, the U.S. Sleep Aids market held the largest market share, and the Canada Sleep Aids market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: SLEEP AIDS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Sleep Aids market accounts for the second-largest market share. It is anticipated that the market would rise due to the presence of significant corporate organizations in Europe and the rising consumer awareness of sleep assistance and sleep excellence goods. Further, the German Sleep Aids market held the largest market share, and the U.K Sleep Aids market was the fastest growing market in the European region
The Asia Pacific Sleep Aids market is expected to register fastest CAGR from 2023 to 2032. 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. Moreover, China’s Sleep Aids market held the largest market share, and the Indian Sleep Aids market was the fastest growing market in the Asia-Pacific region.
Sleep Aids Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Sleep Aids market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Sleep Aids industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Sleep Aids industry to benefit clients and increase the market sector. In recent years, the Sleep Aids industry has offered some of the most significant advantages to medicine. Major players in the Sleep Aids market, including Acelity L.P. Inc. (Kinetic Concepts, Inc.), AstraZeneca Plc, Biodiem, Cadwell Industries Inc., Compumedics Limited, CSL Limited, Drive, Drive DeVilbiss Healthcare Inc., Eisai Co., Ltd., Emergent Biosolutions, F.Hoffmann-La Roche Ltd., 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., SleepMed Inc., Takeda Pharmaceutical Company Limited, and Tempur Sealy International Inc., are attempting to increase market demand by investing in research and development operations.
Pharmaceutical firm Eisai Co Ltd (Eisai) discovers, develops, produces, and markets pharmaceuticals, including OTC, generic, and prescription drugs. Neurology and oncology are the research specializations of the organization. The main items produced by Eisai include the proton pump inhibitors Pariet/AcipHex, Aricept, perampanel, Halaven, an anti-cancer medication, and Fycompa tablets for the treatment of peripheral neuropathy and epilepsy. The USFDA approved a new drug tender for Eisai Co., Ltd.'s internal revealed and advanced orexin antagonist binding receptor DAYVIGOTM (Lemborexant) in December 2019. Lemborexant or DAYVIGOTM has been approved for treating the symptoms of adult-onset insomnia brought on by sleep-related issues.
GSK plc (GSK) is a healthcare organization with a focus on the development, production, and marketing of generic medications, speciality medications, and vaccines. It provides medications to treat conditions like HIV, respiratory, cancer, immuno-inflammation, antiviral, central nervous system (CNS), metabolic, cardiovascular, and urogenital, antibacterial, dermatological, and uncommon disorders. The business also sells over-the-counter (OTC) items for gastrointestinal disorders, nutrition, skin health, and pain treatment. The signing of the deal to impact inherited perceptions for the spread of novel medications was announced by GSK in July 2018.
Key Companies in the Sleep Aids market include
Sleep Aids Industry Developments
August 2021 In an effort to fill the void left by Philips' CPAP recall, ResMed unveiled the new AirSense 11 sleep apnea gadget.
July 2021 The FDA has approved Fexinidazole from Sanofi as the first oral treatment for both phases of the Trypanosoma brucei gambiense form of sleeping sickness.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 60.2 Billion |
| Market Size 2023 | USD 64.5 Billion |
| Market Size 2032 | USD 112.6 Billion |
| Compound Annual Growth Rate (CAGR) | 7.20% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Sleep-Disorder, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Acelity L.P. Inc. (Kinetic Concepts, Inc.), AstraZeneca Plc, Biodiem, Cadwell Industries Inc., Compumedics Limited, CSL Limited, Drive, Drive DeVilbiss Healthcare Inc., Eisai Co., Ltd., Emergent Biosolutions, F.Hoffmann-La Roche Ltd., 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., SleepMed Inc., Takeda Pharmaceutical Company Limited, and Tempur Sealy International Inc. |
| Key Market Opportunities | Growing approvals for the product and funding from the government |
| Key Market Dynamics | The increase in the elderly and overweight people and the changing sleep pattern of the global population triggered by changing lifestyles |
Sleep Aids Market Highlights:
Frequently Asked Questions (FAQ) :
The Sleep Aids Market size was valued at USD 60.2 Billion in 2022.
The global market is projected to grow at a CAGR of 7.20% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Acelity L.P. Inc. (Kinetic Concepts, Inc.), AstraZeneca Plc, Biodiem, Cadwell Industries Inc., Compumedics Limited, CSL Limited, Drive, Drive DeVilbiss Healthcare Inc., Eisai Co., Ltd., Emergent Biosolutions, F.Hoffmann-La Roche Ltd., 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., SleepMed Inc., Takeda Pharmaceutical Company Limited, and Tempur Sealy International Inc.
The mattresses & pillows category dominated the market in 2022.
The insomnia category had the largest share in the global market.
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Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
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