The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s sleeping aids market report forecasts the sleeping aids market size to grow to $110.22 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

Learn More On The Sleeping Aids Market Report 2023 – https://www.thebusinessresearchcompany.com/report/sleeping-aids-global-market-report

Sleeping Aids Market Size Forecast
The global sleeping aids market is expected to grow from $77.66 billion in 2022 to $83.45 billion in 2023, at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The sleeping aids market is expected to grow to $110.22 billion in 2027 at a CAGR of 7.2%.

North America held the largest sleeping aids market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Sleeping Aids Market Driver ­– Increase In The Incidence Of Sleep Disorders
For instance, in January 2022, according to the National Center for Biotechnology Information, a US-based government department, sleep problems were projected to be present in 52.39% of COVID-19 patients, 45.96% of children and adolescents, 42.47% of healthcare workers, 41.50% of special populations with healthcare needs, 41.16% of university students, and 36.73% of the general population. This indicates that there is an increasing incidence of sleep disorders. Therefore, the increasing incidence of sleep disorders drives the sleeping aids market.

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Key Sleeping Aids Market Trend – Product Innovations
Major market players are developing new products to sustain their position in the sleeping aids market, such as wearable sleep aids. For instance, in March 2022, StimScience, a US-based company operating in sleeping aids launched the wearable sleep aid Somnee. This product is the first electronic sleep aid headband with personalized non-invasive brain stimulation that improves sleep quality and reduces overnight tossing and turning by more than one-third in a 1,500-night home pilot study.

Sleeping Aids Market Segment
1) By Product: Mattresses And Pillows, Sleep Laboratories, Medications, Prescription-based Drugs, OTC Drugs, Herbal Drugs, Sleep Apnea Devices
2) By Indication: Insomnia, Sleep Deprivation, Narcolepsy, Sleep Apnea, Other Indications
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, E-Commerce, Drug Stores, Other Distribution Channels

Sleeping Aids Market Major Players and Strategies
Major players in the sleeping aids market are AstraZeneca Plc, Cadwell Industries Inc., Compumedics Limited, CSL Limited, Devilbiss Healthcare Pvt Ltd., Emergent Biosolutions Inc., F.Hoffmann-La Roche Ltd., Gamma Vaccines Pty Ltd., GlaxoSmithKline Plc, Koninklijke Philips N.V., Merck & Co. Inc., Natus Medical Incorporated, Novartis AG, Pfizer Inc., Sanofi, Sinovac Biotech Ltd., Sleepmed Inc., Acelity L.P. Inc., Eisai Co., Ltd., ResMed Inc., Fisher & Paykel Healthcare Lcorporation Limited, Braebon Medical Corporation, Löwenstein Medical GmbH & Co. KG, and Takeda Pharmaceutical Company Limited.

In August 2022, ResMed Inc., a US-based company for the treatment of sleep apnea, chronic obstructive pulmonary disease, and other respiratory conditions, acquired Mementor for an undisclosed amount. With this acquisition, the goal of the digital health application is to help people sleep better by offering an alternative to traditional pharmacological therapy. Mementor is a Germany-based consumer software developer that offers sleep medicine.

The Sleeping Aids Global Market Report 2023 covers regional data on sleeping aids market size, sleeping aids market trends and drivers, opportunities, strategies, and sleeping aids market competitor analysis. The countries covered in the sleeping aids market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Sleeping aids refer to a class of psychoactive medications that are used to treat insomnia and sporadic sleeplessness. Sleeping aids can help decrease daytime tiredness and impaired thinking caused by sleep loss.

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