The global sleeping aids market size was $78.7 billion in 2019, and it is projected to witness a CAGR of 7.1% during the forecast period (2020–2030). The increasing network of healthcare facilities, wide use of portable sleep apnea devices, surging geriatric population, growing adoption of wearable monitors and sensors, and widespread burden of insomnia and obstructive sleep apnea (OSA) are some of the key growth factors driving the sleeping aids industry.
The category of mattresses and pillows accounted for the largest share in the sleeping aids market in 2019, on the basis of offering. The market growth of this category is primarily attributed to the cost-effective nature of these products and their availability in wide varieties. Furthermore, the prevalence of sleep disorders is playing a pivotal role in boosting the demand for mattresses and pillows. According to a study published in the International Journal of Contemporary Medical Research (IJCMR) in May 2017, 10% to 30% of adults have insomnia at any given point in time, and up to 50-60% suffer from insomnia every year.
The sleep apnea category, in the sleeping aids industry, is projected to witness the fastest growth during the forecast period, on the basis of sleep disorder, mainly on account of the widespread burden of OSA, rising geriatric population, and development of technologically advanced portable sleep apnea devices. As per an article published in the News Medical Lifesciences portal in July 2020, the majority of the OSA cases remain undiagnosed, because symptoms are sometimes mild and there is a lack of resources in diagnostics. Therefore, to resolve the issue, Finnish computer science students designed an Android application, ApneaTracker, which monitors the user's snoring through a microphone, using the sensors of a smartphone or smartwatch.
During the historical period (2014–2019), North America held the largest share in the sleeping aids market, due to the growing incidence of sleep disorders, rising healthcare expenditure, improved healthcare infrastructure, and initiatives and support from public and private organizations for increasing the awareness about sleep hygiene and disorders.
For instance, in September 2019, Spectrum Therapeutics, a medical division of Canopy Growth Corporation, announced a donation to Fondation de l'Hôpital du Sacré-Coeur de Montreal (Montreal Sacre Coeur Hospital Foundation), to support the Canadian Sleep and Circadian Network's (CSCN) national campaign: Sleep On It, which aims to raise the awareness about the importance of good-quality sleep for health, thereby driving the sleeping aids industry.
APAC is projected to be the fastest-growing region in the sleeping aids industry, owing to the high consumption rate of sleeping pills, low cost of manufacturing of associated products, increasing geriatric population, and widespread burden of sleeping disorders. According to the United Nations Department of Economic and Social Affairs (UN DESA) report “World Population Ageing 2019”, the region held the largest share (37%) of the world’s older population in 2019, and it is expected to remain in that position through to 2050, which, in turn, is expected to propel the demand for sleeping aids in the region.
COVID-19 is having a negative impact on the global sleeping aids market. Due to this pandemic, the outlook for the industry has changed significantly. The lockdown has led to the reduced trade of a number of products, including sleeping aids, as a consequence of the reduced demand, slashed monthly income of individuals, closure of manufacturing facilities to protect workers in all the regions, constraints in the handling capacity of goods, at ports, and widespread financial distress.
The use of herbal medicine demonstrates patients’ independence in managing their health problems, thereby improving their general wellbeing. According to a World Health Organization (WHO) bulletin, 80% of the African population uses some form of traditional herbal medicine. Similarly, according to a survey published in the International Journal of Pharmacy and Pharmaceutical Sciences in 2019, 71% of the people indicated that they had previously used herbal medicines.
According to the American Sleep Apnea Association, more than 50 million Americans already suffer from over 80 different sleep disorders, and 20-to-30 million suffer from intermittent sleep problems each year. Further, insomnia is the most common specific sleep disorder, with short-term issues reported by about 30% and chronic insomnia by 10% of the adults in the country. Insomnia and OSA treatment involve sleeping aids, which, in turn, is driving the growth of the global sleeping aids market.
Lifestyle changes, such as the increased consumption of alcohol, caffeine, and tobacco, cause hindrance in the sleeping patterns of an individual. This disruption in sleep can cause various disorders, which lead to a high demand for sleeping pills. This also increases the risk of chronic diseases, such as diabetes, depression, heart diseases, and obesity. Obesity can lead to serious sleep disorders, such as insomnia and OSA. Furthermore, long working hours, working in different shifts, hectic work environment, and stressful conditions, along with excess workload, also hamper the quality of sleep. All these factors are leading to an increasing adoption of OTC sleeping pills that help an individual fall asleep, which, in turn, is impacting the sleeping aids market positively.
| Report Attribute | Details |
|---|---|
| Historical Years | 2014-2019 |
| Forecast Years | 2020-2030 |
| Base Year (2019) Market Size | $78.7 billion |
| Forecast Period (2020-2030) CAGR | 7.1% |
| Report Coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies’ Strategical Developments, Product Benchmarking, Company Profiling |
| Market Size by Segments | Offering, Sleep Disorder, Geography |
| Market Size of Geographies | U.S., Canada, Germany, France, Italy, U.K., Spain, Japan, China, India, Brazil, Mexico, Saudi Arabia, U.A.E., South Africa |
| Secondary Sources and References (Partial List) | Centers for Disease Control and Prevention (CDC), Organisation for Economic Co-operation and Development (OECD), World Health Organization (WHO), American Sleep Apnea Association, International Journal of Contemporary Medical Research (IJCMR), American Academy of Sleep Medicine, International Pediatric Sleep Association, International Restless Legs Syndrome Study Group Note: Above listed references and organizations are partial; the detailed and complete list is available in the final report. |
The growing adoption of wearable monitoring devices and sensors is another key driver for the global sleeping aids market. These devices record and transmit data related to various physiological conditions. The devices, which are equipped with sensors, serve various functions, such as monitoring sleep disorders and measuring sleep quality. Some of the wearable monitors and sensors available in the market include Sense Wear Armband by Jawbone, BioHarness by BIOPAC Systems Inc., LifeShirt by Aegis Limited, Zio XT by iRhythm Technologies Inc., and LifeVest by ZOLL Medical Corporation.
The sleeping aids market is fragmented in nature, with the presence of players such as BRAEBON Medical Corporation, Löwenstein Medical GmbH & Co. KG, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Natus Medical Incorporated, Pfizer Inc., Merck & Co. Inc., Koninklijke Philips N.V., and ResMed Inc.
In recent years, the players in the sleeping aids industry have engaged in strategic developments, such as product launches and collaboration/partnerships, in order to stay ahead of their competitors. For instance:
The sleeping aids market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Offering
Based on Sleep Disorder
Geographical Analysis
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