Sleep Aids Market to Exhibits Remarkable Growth | $111.9 Billion By AMR

The sleep aids market addresses the growing concern of sleep-related disorders by offering a range of products and solutions designed to improve sleep quality and duration. With increasing awareness about the importance of a good night’s sleep for overall health and well-being, the market includes prescription medications, over-the-counter supplements, wearable devices, and digital applications that aid in relaxation and sleep tracking. Factors such as high-stress levels, lifestyle changes, and the prevalence of insomnia have fueled the demand for sleep aids. The market continually evolves with innovations in technology and a focus on natural remedies, providing individuals with various options to address their sleep challenges and attain better sleep patterns.

According to the report published by Allied Market Research, the global sleep aids market generated $59.8 billion in 2020, and is projected to reach $111.9 billion by 2030, witnessing a CAGR of 6.9% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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What are the market values / growth % of emerging region?

Asia-Pacific has the highest growth rate of 9.2% in the market which is growing due to presence of large patient population, strong presence of key players, increase in number of hospitals equipped with advanced Sleep Aids devices.

What are the key trends in the Sleep Aids market report?

The technological advancements in the sleep aid devices, increase in adoption of sleep aid devices, rise in incidence rate of sleep disorders like insomnia are the key trends in the Sleep Aids market report.

Value Propositions Related to The Report:

• Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
• Comprehensive quantitative and qualitative insights at segment and sub-segment level
• Covid 19 impact trends and perspective
• Granular insights at global/regional/country level
• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market

Covid-19 Situation –

• The outbreak of the COVID-19 pandemic led to having a negative impact on the growth of the global sleep aids market, owing to decrease in demand for sleeping aids devices for sleep disorders.
• Moreover, market players have reduced investment in raw materials and resources, owing to the closure of manufacturing facilities to protect workers in all the regions, which in turn, affected the market growth.

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Based on product, bed sheets and pillows have the highest market share in 2020, holding more than half of the total market, and is expected to maintain its position during the forecast period. However, the sleep laboratory segment is estimated to register the highest CAGR of 8.1% from 2021 to 2030.

Based on sleep disorders, the insomnia segment has the highest market share in 2020, holding more than half of the total market, and is expected to maintain its position during the forecast period. However, the non-resting foot disease segment is expected to register the highest CAGR of 7.8% from 2021 to 2030.

Major Key Market Players in the Industry –

• Cadwell Industries, Inc.
• Compumedics Limited
• Drive DeVilbiss Healthcare Inc.
• GlaxoSmithKline Plc
• Merck& Co., Inc.
• Natus Medical Inc.
• Koninklijke Philips N.V.
• PFIZER, INC.
• Sanofi S.A.
• SleepMed Inc.

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Market: By Region Outlook

• North America (U.S., Canada, Mexico)
• Europe (UK, Germany, France, Spain, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
• LAMEA (Brazil, South Africa, Turkey, Saudi Arabia, Rest of LAMEA)

Important Questions Being Answered by This Market Report Are –

Q1. What is the total market value of Sleep Aids market report?

Q2. Which are the top companies hold the market share in Sleep Aids market?

Q3. Which is the most influencing segment growing in the Sleep Aids market report?

Q4. What would be forecast period in the market report?

Key findings of the study –

• On the basis of product, the mattress & pillows segment held majority share in the global sleep aids market in 2020.
• On the basis of sleep disorders, the insomnia segment held largest sleep aids market share in 2020, and is expected to remain dominant throughout the forecast period.
• Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 9.2% during the forecast period.

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