Sleeping Aids Market Revenue Growth Factors & Trends, Key Player Strategy Analysis by Fact MR

According to research by Fact.MR, the global demand for sleeping aids market (睡眠補助薬市場) is projected to grow steadily at a compound annual growth rate (CAGR) of 5.4% between 2022 and 2030, potentially reaching a market value of US$ 120 billion by 2030.

Several factors contribute to this increasing demand, including the surge in sleep-related ailments, shifts in lifestyles, higher rates of obesity, and the expanding elderly population. Additionally, advancements in technology and the introduction of innovative solutions play significant roles. The reliance on sleeping pills due to contemporary lifestyles also drives this demand, exacerbated by the stressful pace of modern living, which is thought to elevate the prevalence of sleep disorders.

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One-third of Americans regularly sleep less than the required amount, according to the Centers for Disease Control and Prevention (CDC) 2020 study.

An estimated 50 to 70 million persons in the United States suffer from sleep disturbance, with insomnia emerging as the most prevalent type. Nearly 30% of adults suffer from short-term insomnia, whereas 10% of people have chronic insomnia.

Numerous chronic illnesses are on the rise, with delayed diagnosis as a result of the rapidly evolving individual lifestyles and escalating stressful work hours. Demand for sleeping devices will be impacted by the rising use of both preventative and curative medications as well as increased alcohol and tobacco consumption worldwide.

Key Takeaways from Market Study

• The global sleeping aids market (수면제 시장) currently accounts for a valuation of US$ 83.1 billion.
• The market is projected to reach US$ 120 billion by the end of 2030.
• China’s market for sleeping aids is expected to reach a valuation of US$ 28.6 billion by 2030.
• Global sales of sleep apnea devices are predicted to increase at a CAGR of 6% during the forecast period.

Competitive Landscape

To increase their chances of growth, the top companies in the sleep aids market are focusing on acquisitions, new developments, and product launches. Manufacturers of sleeping aids are increasing product R&D spending as a key part of their business plan to meet the need of a certain patient population. Players in the market are also concentrating on expanding their geographic reach of both new and existing devices.

The U.S. FDA approved a new medication application, orexin receptor antagonist DAYVIGOTM (lemborexant), which Eisai Co., Ltd. discovered and developed, in December 2019. Adults with insomnia defined by problems falling asleep, staying asleep, or maintaining sleep may use DAYVIGO.

Sleeping Aids Industry: Key Players

• Abecca Healthcare
• Becton, Dickinson and Company
• Betterlifehealthcare Ltd.
• Cadwell Industries, Inc.
• Compumedics Ltd.
• GlaxoSmithKline, Inc.
• Hill-Rom Holdings, Inc.
• Koninklijke Philips NV
• Lifeline Corporation Pte Ltd
• Merck & Co., Inc.
• Natus Medical, Inc.
• Pfizer, Inc.
• Teva Pharmaceutical Industries Ltd.

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Winning Strategy

To get a competitive edge while increasing their revenue sales, these businesses are actively pursuing marketing and business growth methods such as alliances, purchases, launch of new products, and investments.

A complete range of sleep aids was introduced by Sandland Sleep in April 2021. These products are supported by scientific research and are intended to assist users to get better sleep on their own.

Philips created NightBalance, a cutting-edge prescription sleep position therapy device, in September 2019 to help people with positional OSA (obstructive sleep apnea). To prevent apneas, the device offers positional therapy, allowing patients to adjust their sleeping positions.

Segmentation of Sleeping Aid Market (Markt für Schlafmittel) Research

• By Product :

  • Drugs

  • Devices

  • Others

• By Indication :

  • Insomnia

  • Sleep Deprivation

  • Narcolepsy

  • Sleep Apnea

• By Distribution Channel :

  • Hospital Pharmacies

  • Retail Pharmacies

  • e-Commerce

  • Drug Stores

• By Region :

  • North America

  • Europe

  • Latin America

  • East Asia

  • South Asia & Oceania

  • Middle East & Africa

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