Sleep Aid Market Size, Share, Opportunities, And Trends By Product Type (Mattresses And Pillows, Medication, Sleep Laboratory Services, Others), By Disorder (Sleep Apnea, Insomnia, Sleepwalking, Others), And By Geography - Forecasts From 2024 To 2029

The sleep aid market is anticipated to expand at a high CAGR over the forecast period.

The sleep aid industry has grown significantly in recent years, owing to a convergence of factors that highlight the growing significance put on attaining restful and restorative sleep. Sleep problems such as insomnia, sleep apnea, and restless leg syndrome have grown common in today's fast-paced and demanding society, impacting a significant section of the worldwide population. Individuals are actively seeking answers to their sleep-related difficulties as knowledge of the critical role of regular sleep in general health and well-being grows. The expanding aging population, combined with lifestyle changes, increased stress, and the pervasiveness of technology, all contribute to the rise in sleep disruptions. As a result, the sleep aid market is growing to satisfy the increasing demand for novel goods and services meant to enhance sleep quality, making it a dynamic and important area within the larger healthcare and wellness industry.

Introduction:

In a society marked by busy lifestyles, rising stress levels, and common sleep disorders, the sleep aid sector plays a critical role in improving sleep quality and general well-being for millions of people. Sleep, an important component of a healthy lifestyle, is frequently jeopardized by variables such as work-related stress, excess use of technology, and medical issues. Sleep aids include a wide range of remedies, such as medications, therapeutic interventions, and technological advancements, all of which are intended to address the issues connected with insomnia, sleep apnea, and other sleep-related illnesses. The sleep aid industry continues to expand as knowledge rises about the critical function of adequate and restorative sleep in preserving physical and mental health. This is driven by factors such as aging populations, technological improvements, and a social trend toward valuing overall well-being. This dynamic industry is a crucial factor in promoting a global culture of sleep health, where innovation meets the compelling demand for practical solutions to ensure a good night's sleep for people from all walks of life. The benefits of utilizing sleep aids products and an increase in disposable income are driving the sleep aids industry's growth. Furthermore, the rise in the elderly and obese population has resulted in an increase in sleep problem instances, which is expected to increase the patient population with sleep disorders, contributing to market development.

Market Drivers:

• Increasing sleep disorders due to lifestyle changes: Modern lives defined by demanding schedules, unpredictable working hours, and excessive screen time have substantially altered normal sleep patterns for many people in the modern day. As a result, there has been a significant increase in the use of sleep aids to manage disturbances and build healthy sleep practices. The rising prevalence of sleep problems such as insomnia, sleep apnea, and restless leg syndrome exacerbates the problem. Factors such as increased stress, sedentary lifestyles, and the prevalence of illnesses such as obesity all contribute to an increase in demand for sleep aids as individuals seek answers to the expanding problems connected with sleep-related disorders.
• Ongoing research and technological advancements: Continuous development in the pharmaceutical and healthcare sectors is promoting the launch of enhanced sleep aid drugs and therapies. This is leading to ongoing innovation that improves the efficacy and safety of these products. Simultaneously, technological improvements have a significant impact on the field of sleep assistance products. Wearable gadgets, smart mattresses, and sleep monitoring applications provide customers with unique and effective ways to monitor and improve their sleep habits. The seamless integration of technology into sleep assistance products not only improves accessibility but also usefulness, boosting market development. This synergy between pharmacological developments and technology innovations highlights a dynamic movement in the healthcare sector toward more sophisticated and consumer-friendly sleep aid alternatives.

Increasing mental health awareness:

The growing acceptance and destigmatization of mental health disorders are driving the sleep aid business forward. As society becomes more aware of the prevalence of diseases such as anxiety and depression, there is a greater recognition of their complicated relationship with sleep problems. Individuals dealing with mental health issues frequently struggle with interrupted sleep habits, emphasizing the need for effective sleep aids. The symbiotic relationship between mental health and sleep emphasizes the importance of holistic approaches to wellness, fostering a growing demand for sleep aid solutions that address not only the symptoms of sleep disorders but also the underlying mental health factors contributing to these issues.

Rising geriatric problem:

The world's ageing population is a significant market driver for the sleep aid sector. Individuals often encounter a larger prevalence of sleep-related issues as they age, such as insomnia and sleep apnea. Ageing is frequently accompanied by physiological changes that might disturb normal sleep patterns, such as a decrease in melatonin synthesis and an increase in the prevalence of medical illnesses that contribute to sleep problems. As a result, the expanding demographic of older persons constitutes a sizable client base for sleep assistance goods and services.

Products offered by key companies:

AirSense 10 Series, ResMed: AirSense 10 is the world's most popular CPAP and APAP machine series, with each machine intended to provide high-quality treatment for a better night's sleep. Each machine 1 includes myAir, a free online support program and app 2 that syncs with the user's mobile or web-based device to deliver a nightly sleep score, coaching, and other features to help the user remain on track.

Samoa, Löwenstein Medical Technology GmbH + Co. KG.: Samoa, a compact, lightweight polygraphy device with an integrated colour display, earns accolades for being intelligent, simple, and small. Its major goal is to standardize use in diagnostic and therapeutic settings. The smart link to the latest generation of Löwenstein sleep treatment equipment provides clear signals on the patient's therapy. Samoa is the best polygraph device for practical use because of its small size, low weight, integrated colour display, and simple plug-in and connectivity choices.

Prominent growth is projected in the insomnia sector under the sleep disorder segment

Given its broad prevalence and major influence on people's sleep patterns, insomnia is projected to be the main category in the sleep aid industry over the forecast period. Insomnia, defined as trouble falling or staying asleep, affects a huge proportion of the world's population. The growing need for effective and affordable solutions to insomnia-related problems has spurred the rise of the sleep aid industry. Individuals seeking treatment for insomnia symptoms have a wide range of alternatives, including over-the-counter and prescription drugs, as well as non-pharmacological approaches such as cognitive behavioural therapy for insomnia (CBT-I). Furthermore, increased awareness of the need for good sleep hygiene, as well as the increasing acceptance of technology-enabled sleep monitoring devices, contribute to the sleep aid industry.

The North American region is expected to hold a significant share of the sleep aid market:

The North American region is anticipated to have a major market share and is likely to expand at a high CAGR over the forecast period. The prevalence of sleep disorders, notably sleep apnea, is increasing in the region, producing a greater demand for effective sleep aid options. The region's capacity to identify and cure sleep-related ailments is further enhanced by the availability of modern healthcare facilities staffed with well-trained medical personnel. Furthermore, the increase in R&D efforts, together with the significant presence of important industry participants, adds to the continual innovation and accessibility of cutting-edge sleep assistance technologies. Additionally, government investments in the healthcare system play an important role in creating an environment suitable for the expansion of the North American sleep aid industry. Considering these elements in play, North America emerges as a worldwide leader in sleep aid products, positioned to continue its lead in the foreseeable future.

Key developments:

• Idorsia Ltd announced that Health Canada has given marketing clearance for QUVIVIQ (daridorexant) for the treatment of adult patients with insomnia characterized by difficulties with sleep onset and/or sleep maintenance on April 28, 2023.
• ResMed, a global leader in digital health and sleep apnea treatment, launched AirSense 11, in August 2021, the company's next-generation PAP (positive airway pressure) device designed to assist many millions of people globally with sleep apnea1 in starting and maintaining therapy to treat and manage obstructive sleep apnea. Personal Therapy Assistant and Care Check-In are new features in AirSense 11 intended to give personalised assistance to PAP users, easing them into therapy and ensuring comfortable nighttime usage. Other characteristics include the availability of remote software upgrades, which ensures that customers always have the most recent version of these products.

Segmentation:

• By Product Type
  • Mattresses and Pillows
  • Medication
  • Sleep Laboratory Services
  • Others
• By Disorder
  • Sleep Apnea
  • Insomnia
  • Sleepwalking
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others