United State-Report Ocean (150+ country’s markets analyzed, function on 1,00000+ published and forthcoming reports every year.] presents a research report and top winning strategies for the Sleep Aids. Best subject matter experts, researchers, and market research professionals organized this report in order to ensure that the information in it is compiled from the most authentic sources and that the forecast is of the highest accuracy. To forecast market growth, specialists employ a variety of methodologies and analytical approaches, including S.W.O.T. (analysis methods), P.E.S.T.E.L. analysis, and regression analysis. The Sleep Aids study also looks at the various regulations and policies that the firm has implemented. This report discusses the industry in terms of research technology and precise prospective utilization, innovation, and future advancements in the Sleep Aids.
The global sleep aids market size was US$ 64002.1 million in 2021. The global sleep aids market size is forecast to reach US$ 111,930.10 million by 2030, growing at a compound annual growth rate (CAGR) of 7% during the forecast period from 2022 to 2030.
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The term “sleep disorders” refers to conditions that affect sleep patterns or disrupt restful sleep and as a result, cause daytime sleepiness and other symptoms. It has several symptoms, such as difficulty sleeping regularly, feeling tired during the day even after sleeping for at least seven hours the night before, or being less able to perform regular daytime activities. Getting insufficient sleep can negatively affect school & work performance, interpersonal relationships, thinking, mental health, weight, diabetes, and heart disease development. Among the most common sleep disorders are insomnia, restless legs syndrome, narcolepsy, and sleep apnea.
Factors Influencing Market Growth
A rising disposable income and the benefits of using sleep aid products are driving the growth of the sleep aids market.
As a result of the growing geriatric and obese populations, it anticipates that the number of patients with sleep disorders will increase, which is forecast to contribute to the growth of the global sleep aids market.
The side effects of sleep aid medication on human health and a large number of pending patent expirations may slow down the global sleep aids market growth.
The advancement of sleep aids products has increased their adoption rate in developing countries, which is forecast to offer lucrative opportunities for growth in the global sleep aids market.
Impact Analysis of COVID-19
COVID-19’s initial outbreak has dramatically altered the outlook for the sleep aids industry. During the COVID-19 pandemic, there was a global lockdown, which impacted the trade of many products, including sleeping aids. As a result, the market for sleep aids was affected. In addition, the disruptions in the monthly income of individuals’ closure of manufacturing facilities to protect workers in all the regions had reduced the number of sleep aid solutions produced. The limited handling capacity of goods in ports and widespread financial distress also disrupted the supply of the products. It is because people feared infection during a lockdown and distancing period. Several regions reported fewer hospital visits. Thus, the COVID-19 had a relatively negative impact on the sleep aids market.
Regional Insights
North America held the largest share of the global sleep aids market share in 2021 and is forecast to remain dominant during the forecast period. As a result, of the increase in the incidence of sleep disorders such as sleep apnea, the surge in demand for sleep aid devices, the availability of advanced healthcare facilities with skilled medical professionals, the proliferation of R&D activities, and a significant rise in investments made by governments in healthcare.
The Asia-Pacific region is forecast to see the highest growth rate over the forecast period. The improvement of healthcare infrastructure, increase in hospitals equipped with advanced instruments, advancement in the R&D sector, increased healthcare reforms, and technological developments in sleep aids contributed to the market growth.
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Leading Competitors
The leading prominent companies profiled in the global sleep aids market are:
Cadwell Industries, Incorporated
Compumedics Limited
Drive DeVilbiss Healthcare Incorporated
GlaxoSmithKline Plc
Merck& Co., Incorporated
Natus Medical Incorporated
Koninklijke Philips N.V.
Pfizer, Incorporated
Sanofi S.A.
SleepMed Incorporated
Other Prominent Players
Scope of the Report
The global sleep aids market segmentation focuses on Product, Sleep Disorders, and Region.
Segmentation based on Product
Mattresses & Pillows
Sleep Laboratories
Medications
Prescription-Based Drugs
OTC Drugs
Sleep Apnea Devices
Segmentation based on Sleep Disorders
Insomnia
Sleep Apnea
Restless Leg Syndrome
Narcolepsy
Sleepwalking
Other Sleep Disorders
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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