Sleep Aids Market

Sleep Aids Market: Overview

The Sleep Aids Market is valued at USD 85.7 Bn in 2026 and is projected to reach USD 136.1 Bn,  growing at a CAGR of 7% by 2033. In order to monitor, diagnose, and treat sleep disturbances and disorders, sleeping aid products are used in the form of medicines and medical devices. It causes irregular breathing and abnormal sleeping behavior when sleep disorders affect the quality, timing, and amount of sleep. Excessively sleepy during the day, irregular breathing, or increased movement during sleep are some of the signs and symptoms of sleep disorders. A sleep disorder can negatively affect a person's health in many ways. For instance, people with sleep disorders can suffer from cardiovascular diseases, obesity, and diabetes. The growing adoption of sleep aid products in developing economies is expected to provide lucrative opportunities for the market to grow. However, various sleeping aids can also help treat sleep disorders.

A rise in disposable income and the benefits of using sleep aids drive the market's growth. Furthermore, the aging and obese populations have resulted in more cases of sleep disorders, which will also boost the market growth of patients with sleep disorders. For instance, there were 703 million persons aged 65 years or over in the world in 2019. The number of older persons is projected to double to 1.5 billion in 2050. Despite this, sleep aid medication has side effects that are harmful to human health, and the patents for these medications are on the verge of expiring. During the forecast period, sleep aid products are expected to evolve and become more widely adopted, and the untapped market in developing economies will offer lucrative opportunities.

Major players in the sleep aid market are focusing on acquisitions, product development, and product launches to boost their growth prospects. Sleep aid manufacturers invest heavily in research and development to meet the demands of a specific patient demographic. Market players are also focusing on expanding the geographical reach of existing and new products. For instance, in December 2019, Eisai Co., Ltd. announced that the U.S. Food and Drug Administration approved DAYVIGOTM (lemborexant), an in-house developed and discovered orexin receptor antagonist. DAYVIGO was approved to treat insomnia in adults with difficulties falling asleep or staying asleep. A genetic insights-based approach to developing novel medicines was announced in July 2018 by GSK and 23andMe. Further, The DreamStation Go, Koninklijke Philips' newest and smallest positive airway pressure (PAP) device, was launched in April 2017 and designed to simplify travel for patients with sleep apnea.

Sleep Aids Market: COVID-19 Impact

As a result of the COVID-19 pandemic, the trade of many products, including sleeping aids, was reduced. This affected the market by reducing sleep aid demand. Aside from this, the disruption of monthly incomes of individuals and the closure of manufacturing facilities to protect workers in all regions resulted in a drop in the production of sleeping aid solutions. People feared the infection during a period of distancing and lockdown due to constraints in handling capacity at ports and widespread financial distress. These factors also disrupted product supply. In general, COVID-19 had a negative impact on the sleep aids market. This was attributed to a decrease in demand for sleep aids. Due to the closure of manufacturing facilities throughout the country to protect workers, market players have reduced their investment in raw materials and resources.

Sleep Aids Market: Drivers

Government Funding and Product Approval to Drive Market Growth

Many factors drive growth in sleep aid suppliers, including lifestyle changes, rising affluence, improved healthcare access, and demand for quality healthcare. Manufacturers of sleep aid treatment products can gain market share by acquiring product approvals and government funding for better treatment options and sleep apnea testing. For instance, according to Fisher & Paykel Healthcare, the guidelines for releasing new OSA masks in the U.S. were upgraded in October 2019. As of May 2019, Merck's BELSOMRA (suvorexant) C-IV met primary efficacy endpoints in a phase-3 study assessing its efficacy in treating insomnia in Alzheimer's patients with mild-to-moderate dementia. In addition, NextWave Pharmaceuticals (NextWave), a wholly-owned subsidiary of Pfizer Inc, was acquired by Tris Pharma in September 2018. The acquisition increased Tris' product offering for ADHD treatment. All these approvals and developments are expected to boost the demand for sleep aids in the market.

Rising Incidences of Sleep Apnea Driving Market Growth

There has been notable growth in the global sleep aid market due to the high incidence of insomnia and sleep apnea and the development of new types of sleep aids. In recent years, sleep-inducing mattresses and pillows have gained popularity worldwide, positively impacting the global market for sleeping aids. Sleep aids can also be used to control and treat narcolepsy, a rare disorder that can be controlled and treated with the aid of sleep aids. Meanwhile, sleepwalking and restless leg syndrome are also generating significant revenues for the global sleep aid industry. The global sleep aid market is expected to grow rapidly in the next decade.

Sleep Aids Market: Restraints

Introduction of New Technologies and Side Effects to Hamper Market Growth

The introduction of new technologies has raised concerns about the complexity of sleep disorder treatment. Slower market growth can also be attributed to improper documentation and licensing for sleeping pills and insufficient equipment standards for sleep devices. Drugs are available to treat insomnia and narcolepsy on the market, but they are very risky due to their side effects. A common side effect of sleep aids is headache, prolonged drowsiness, memory and performance problems, and allergic reactions. OTC and prescription-based sleep aids are associated with these side effects, which hinder market growth in some ways. Due to top-tier companies' dominance, small manufacturers of sleeping aids are losing domestic market share. Such limitations have hindered product adoption, which in turn has restricted the market growth.

Sleep Aids Market: Segment Overview

Mattresses & Pillows to Dominate Market due to Technological Advancements

During the forecast period, the sleep aid device market is expected to remain dominant due to technological advances in sleep aid devices, an increase in the adoption of sleep aid devices, an increase in sleep disorders like insomnia, and an increase in the number of innovative and effective products. Several factors contribute to this segment's growth, including technological advancements in sleep aid devices, an increase in the use of sleep aid devices, and an increase in advanced and effective products.

With an Increased in Incidence of Sleep Apnea, Insomnia Category Dominated Market

In the forecast period, the insomnia segment held the largest market share, and it is anticipated that it will continue to rule the market during the forecast period. Due to an increase in healthcare awareness, an increase in sleep apnea incidence, a decline in physical activity by the population, and an increase in the number of geriatrics, it will continue to dominate the industry during the forecasting period. As well as increasing treatment trials contributing to this segment, the sleep apnea segment is predicted to grow at the fastest rate in the forecasting years due to the increase in sleep apnea tests. Also, the increasing adoption of CPAP (Continuous Positive Airway Pressure) devices is expected to drive this segment's growth. Approximately 70 million Americans have insomnia, of which 33-50% have symptoms of insomnia while 10% have chronic insomnia, according to the American Sleep Association. Further, Merck's BELSOMRA C-IV achieved the primary endpoint in its phase 3 study for the treatment of insomnia in patients with mild to moderate dementia and Alzheimer's in May 2019.

Sleep Aids Market: Regional Landscape

North America to Dominate Market due to High Use of Alcohol and Cigarette Consumption

Over the forecast period, it is anticipated that the North American market will account for the largest revenue share. The high consumption of alcohol and cigarettes in North America has led to a high prevalence of sleeping disorders. In addition, the U.S. sleep aid market is projected to grow positively due to the substantial presence of key industry players and the increasing consumer awareness about sleep quality. It is likely that this huge market share is due to the high prevalence of sleeping disorders in North America that are caused by the consumption of alcohol and cigarettes. Additionally, the U.S. sleep aid market is expected to grow due to the presence of major industry players and consumer awareness regarding sleep quality. Sleeping aids, medication and devices are expected to increase in demand due to the increase in obese and geriatric Americans.

The Asia Pacific market is anticipated to experience stable revenue growth throughout the forecast period due to the increasing per capita income; the general public is becoming more aware of the negative effects of sleeping disorders. There are also a number of factors contributing to the growth of the Asia-Pacific sleep aid market in Japan and China, including the increasing number of hospitals equipped with advanced instruments, advances in R&D, technological advances in the sleep aid industry, and healthcare reforms. East Asia's market share is led by China, which is projected to grow at the highest CAGR. Several factors contribute to the growth of the market in the country, including the development of healthcare infrastructure, an increased prevalence of insomnia, a growing younger population base, and changes in lifestyles.

Global Sleep Aids Market: Competitive Landscape

In December 2019, Eisai Co., Ltd. announced that the U.S. Food and Drug Administration approved DAYVIGOTM (lemborexant), an in-house developed and discovered orexin receptor antagonist. DAYVIGO was approved to treat insomnia in adults with difficulties falling asleep or staying asleep. Moreover, A genetic insights-based approach to developing novel medicines was announced in July 2018 by GSK and 23 and Me.

Few of the players in the sleep aids market include 

• ResMed Inc.
• Philips Healthcare
• Fisher & Paykel Healthcare
• Omron Healthcare
• Compumedics Limited
• Drägerwerk AG & Co. KGaA
• Teva Pharmaceutical Industries Ltd.
• Sanofi S.A.
• GlaxoSmithKline plc
• Johnson & Johnson (Consumer Health Division)
• Takeda Pharmaceutical Company Ltd.
• Eli Lilly and Company
• Puritan’s Pride (NHP Brands)
• Nature’s Bounty Co.
• NOW Foods

Global Sleep Aids Market Segmentation is Described Below:

By Product / Device Type

• Manual IO Needles
• Battery-Powered Drivers
• Impact-Driven / Spring-Loaded Devices
• Automatic IO Devices
• Needles & Accessories
• Specialized Devices (e.g., EZ-IO, BIG, FAST1, FASTx, NIO)

By Technology

• Battery-Powered Devices
• Spring-Loaded Devices
• Magnetically Actuated Devices
• Manual Systems (Non-powered)

By Route of Administration

• Sternum
• Distal & Proximal Tibia
• Distal Femur
• Calcaneus
• Head of Humerus

By End-User

• Hospitals & Clinics
• Emergency Medical Services (EMS)
• Ambulatory Surgical Centers (ASCs)
• Military & Defense Medical Units
• Cardiology / Specialty Clinics

By Age Group / Patient Segment

• Pediatric Patients
• Adult Patients

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa