Global Sleeping Aids Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024
Global Sleeping Aids Market is expected to increase from USD 6.8 billion in 2017 to USD 10.9 billion in 2024, at a vigorous CAGR of 6.8% from 2018 to 2024.
The growth in the sleeping aids market is attributed to the rising incidences of sleep disorders across the globe. Moreover, growing awareness regarding the therapies for sleep disorders is also driving the growth in the sleeping aids market.
The years used for the assessment are as follows;
Historical year: 2015,2016
Base year : 2017
Forecast period : 2018 – 2024
The research and analysis is based on the data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;
Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, surveys, and other secondary sources
Interacting with key opinion leaders of the market and developing data points based on interaction with them
Study of past trends in the market and their year on year Impact on the market size and share.
Analyzing the collected data points
Bridging the data points to calculate the total sleeping aids market and its various segments
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global sleeping aids market
Finalizing the overall size and share of the global sleeping aids market
To classify global sleeping aids market into segments on the basis of product, sleep disorder, and analyze their growth prospects individually
To analyze market trends, opportunities, drivers, and restraints associated with the global sleeping aids market
Profiling key companies operating in the global sleeping aids market
To study market response with respect to the mergers and acquisitions in the industry
The research scope for sleeping sids market is as follows:
Sleep Apnea Devices
Sleep Laboratory Services
By Sleep Disorder
Restless leg syndrome
Rest of the World(RoW)
The global sleeping aids market is expected to increase from USD 6.8 billion in 2017 to USD 10.9 billion in 2024, at a CAGR of 6.8% from 2018 to 2024. The growth in the sleeping aids market is attributed to the rising incidences of sleep disorders across the globe. Moreover, growing awareness regarding the therapies for sleep disorders is also driving the growth in the sleeping aids market. However, concerns regarding the side effects of sleep medications may hamper the market growth to some extent.
Based on the product, sleep apnea devices is projected to be the fastest growing segment during the forecast period owing to technological advancements. On the basis of sleep disorder, the insomnia segment held the largest share of the global sleeping aids market in 2017 and is expected to retain its dominance during the forecast period.
North America held the major share of the sleeping aids market in 2017 and is projected to retain its dominance during 2018-2024. The growth in the region is mainly driven by rising incidences of sleep disorders. The Asia-pacific region is projected to grow at the highest CAGR during the forecast period due to growing old age population in the region.
The key players dealing in sleeping aids market are Merck & Co. Inc., Sanofi, Pfizer Inc., GlaxoSmithKline Plc, SleepMed Inc., Jazz Pharmaceuticals plc, Cadwell Industries, Inc., Natus Medical Incorporated, Drive Medical Ltd., Compumedics, among others.