Sleep Aids Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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Sleep Aids Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : December, 2020 | Healthcare IT | PPT format

Report Digest


Global Sleep Aids Market: Overview

Sleep aids refer to those medical devices and drugs that are utilized in the diagnosis and treatment of various types of sleep disorders, including insomnia and sleep apnea. The growth of the global sleep aids market is likely to be driven by the increasing prevalence of sleep disorders across the globe. A person suffering from sleep disorder finds it extremely difficult to stay asleep and fall asleep. It causes the person to wake up too early and then the person is unable to go back to sleep again. Upon waking up, one might still feel exhausted. Sleep disorders not only reduces level of energy but it also affects health and mood adversely. In addition, quality of life and professional live also take a hit. How much a person should sleep varies from one individual to another. However, on an average, a person must sleep for at least seven to eight hours at night.

Product, sleep disorder, and region are the three key parameters based on which the global sleep aids market has been divided. The objective of such segmentation is to offer a clearer, 360-degree view of the market.

Global Sleep Aids Market: Notable Developments

The global sleep aids market has come across some significant developments in the recent years. One of such developments pertaining to the market is mentioned below:

  • May 2018, Dutch multi-national conglomerate Koninklijke Philips N.V. made an acquisition of the NightBalance B.V. The latter has been a digital healthcare pharmaceutical company ideated and started by alumni of Delft University of Technology. With this acquisition, Philips is expected to expand its product portfolio of sleep aids.

Some of the key players in the global sleep aids market comprise the below-mentioned:

  • Koninklijke Philips N.V.
  • Natus Medical Incorporated
  • eVilbiss Healthcare LLC
  • Cadwell Laboratories Inc.
  • Merck & Co., Inc.
  • GlaxoSmithKline plc

Global Sleep Aids Market: Key Trends

The following drivers, restraints, and opportunities characterize global sleep aids market over the assessment period, from 2019 to 2027.

High Prevalence of Sleep Disorders to Contribute toward Spiraling Demand in the Market

The global sleep aids market is driven by the increased prevalence of sleep disorders all over the world. Lack of sound sleep often results in sleep disorders, thereby giving rise to several health-related problems. Lack of sound sleep causes psychiatric disorders, environmental problems, and physical disturbances. Sleep disorders affect overall human health and the affected individual’s functioning in professional and personal space. It often leads to chronic health conditions, such as stroke, arthritis, diabetes, and high blood pressure. These factors are likely to amplify growth opportunities of the global sleep aids market in the foreseeable future.

In addition, technological advancement and innovations made in the field and growing awareness about the harmful effects of sleep disorders is expected to drive the demand for sleep aids in the near future

Global Sleep Aids Market: Geographical Analysis

In terms of revenue, North America is estimated to be one of dominant force in the global sleep aids market throughout the period of analysis, from 2020 to 2026. Regional dominance of North America is ascribed to the availability of highly advanced healthcare infrastructure. In addition, people in the region are highly aware of the issues pertaining to sleep disorder. Many people across the region experience some sort of sleep disorder or the other, which demand treatment of the same. Many of the leading market players are also present in the region, which is likely to drive the growth of the sleep aids market in North America.

The global sleep aids market is segmented as:

Product

  • Mattress & Pillows
  • Sleep Laboratories
  • Medications
  • Sleep Apnea Devices

Sleep Disorder

  • Insomnia
  • Sleep Apnea
  • Restless Leg Syndrome
  • Narcolepsy
  • Sleep Walking

Region

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Russia
    • Italy
  • Asia Pacific
    • China
    • Japan
    • Korea
    • India
    • Southeast Asia
  • The Middle East
    • Saudi Arabia
    • UAE
    • Egypt
    • Nigeria
    • South Africa
  • Latin America
    • Brazil
    • Argentina
    • Colombia

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?