SLEEP AIDS MARKET ANALYSIS

Sleep Aids Market Size and Trends

The global sleep aids market is estimated to be valued at USD 77.68 Bn in 2024 and is expected to reach USD 129.58 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.

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Factors such as hectic lifestyles, erratic work schedules, and increasing stress levels have greatly impacted people's sleep cycles. Many users have increasingly relied on sleep aids to help them sleep better at night. Advancements in medical technology have also helped introduce new products and solutions in the market. Sleep aids devices and apps that use calming noises or guided meditation are becoming increasingly popular for treating occasional insomnia. However, traditional medications like sleeping pills continue to dominate the market. Looking ahead, the widespread adoption of digital-first solutions and the entry of newer startups in this space are expected to further drive innovative growth in the global sleep aids market.

Increasing Prevalence of Sleeping Disorders

The increasing prevalence of sleeping disorders, such as insomnia and sleep apnea, is expected to propel the growth of the global sleep aids market during the forecast period. For instance, in May 2022, a review article was published by OneCare Media, LLC, a sleep health company, which suggested that around 10% to 30% and 30% to 48% of adults and older adults struggles with chronic insomnia every year, globally.

Market Concentration and Competitive Landscape

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Another important growth driver for sleep aids market has been increasing awareness about sleep disorders and available treatment options. While sleep problems were previously considered more of a lifestyle issue, they are now recognized as serious medical conditions that require clinical interventions. This has promoted greater acceptance of sleeping pills and other medications to induce normal sleep under doctor's supervision. Better education regarding sleep hygiene, benefits of sound slumber, and availability of prescribed relief has motivated individuals to seek timely help and treatment.

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For instance, in May 2022, an article was published by Bennett, Coleman & Co. Ltd in Times of India that suggested that stress causing anxiety and sleep disturbance can be treated for a few days with sleeping pills. Sleeping pills are harmful and cause drowsiness, headache, constipation or diarrhea, neurological abnormalities, muscle weakness, loss of libido, and other side effects.

Market Opportunities – Increasing Launch of Awareness Campaigns

For instance, in February 2023, the American Academy of Sleep Medicine, launched the national “More than a Snore” campaign to raise awareness about obstructive sleep apnea, a chronic disease that involves the repeated collapse of the upper airway during sleep. This campaign raised awareness about obstructive sleep apnea and encourage undiagnosed patients to advocate for themselves and seek treatment.

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The product type segment includes medications, sleep apnea devices, mattresses and pillows, and others. The medications sub-segment is estimated to hold 52.4% of the market share in 2024 owing to their widespread availability and them being prescribed by doctors for sleep disorders. Sleeping pills are commonly prescribed for the short-term treatment of insomnia and other sleep issues. The easy accessibility of over-the-counter sleep medications and their effectiveness in inducing sleep drives their high demand. Various prescription sleep drugs targeting different stages of sleep are available in the market. Popular ones include zolpidem, eszopiclone, zaleplon, etc. that act on the GABA receptors in the brain to calm the nervous system. The well-established distribution channels of pharmaceutical companies ensure medicines reach consumers easily. While certain natural supplements are also emerging, they are yet to gain similar medical endorsement for sleep problems. Overall, the doctor's role in suggesting sleeping pills and proven results continue augmenting the medications segment.

Insights, By Sleep Disorder: High Prevalence of Insomnia

The sleep disorder segment includes insomnia, sleep apnea, restless legs syndrome, night terrors, and others. The sleep apnea sub-segment is estimated to hold 37.4% of the market share in 2024 due to the high prevalence of insomnia. Insomnia is one of the most common sleep disorders affecting people of all ages. As per studies, nearly 30% of adults experience insomnia occasionally, while 10% have chronic insomnia. The disorder involves difficulty falling asleep, frequent awakenings, early rising or non-restorative sleep. Its impact on daytime functioning and quality of life has raised awareness. Both short and long-term insomnia can be caused by stress, anxiety, depression, medical issues, lifestyle factors, etc. Considering it does not require significant medical diagnosis, the overall awareness about insomnia as a sleep problem is higher compared to other disorders. This brings more people seeking treatment options for it. Consequently, the large insomnia patient pool looking for solutions ensures its primacy in the sleep aids market.

Regional Insights

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North America remains the dominant region in the global sleep aids market and is estimated to hold 34.7% of the market share in 2024. The U.S. accounts for the bulk of the market owing to the high consumer awareness about various sleep disorders like insomnia. According to The National Academy of Medicine, nearly 50-70 million American adults suffer from chronic sleep and wakefulness disorders annually. This has boosted the demand for over-the-counter as well as prescription sleep aids across various distribution channels in the region. The easy availability and wide acceptance of prescription drugs for insomnia plays a crucial role in consolidating North America's leadership position.

Asia Pacific has emerged as the fastest growing regional market driven by economic development and rising consumer incomes of markets like China, India, and Indonesia. Large untapped opportunities prevail in these emerging countries owing to changing lifestyles, increasing urbanization, rising stress levels, and growing health issues. The growing middle class affords greater affordability and access to healthcare and wellness products. This has augmented the demand for sleep aids in Asia Pacific. While the market currently remains concentrated on traditional herbal medicines and supplements, the growing adoption of international products points to lucrative prospects. Export and manufacturing hubs in countries such as China and India bolster availability while positioning the region as an attractive investment destination.

Market Report Scope

Sleep Aids Industry News

• On February 13, 2024, ResMed, a medical device company, announced that it had launched its AirCurve 11 series. The AirCurve 11 series is combined with digital tech to help treat sleep apnea. The AirCurve 11 is a bi-level positive airway pressure (PAP) that provides higher pressure during inhalation and lower pressure during exhalation. As per the company, the design lets the device align more closely with natural breathing patterns.
• In November 2023, The DeRUCCI Group, a public company and sleep technology brand, launched the DeRUCCI T11 Pro Smart Mattress, an artificial intelligence of things (AIoT) intelligent sleep solution
• In January 2022, Eisai Co., Ltd., a pharmaceutical company, announced that the U.S. Food and Drug Administration, approved Dayvigo (lemborexant) for the treatment of insomnia
• In June 2021, Eisai Co., Ltd., a research-based pharmaceutical company that develops, manufactures, and commercializes high quality medicines, launched an in-house developed drug DAYVIGO (LEMBOREXANT) in Hong Kong, China. DAYVIGO is a dual orexin receptor antagonist that inhibits orexin neurotransmission regulating sleep-wake rhythm for the treatment of insomnia. In addition, applications for approval have been submitted to the respective regulatory authorities in Australia, Brazil, India, Indonesia, and other countries.
• In August 2021, ResMed, a company which provides an innovative solution in sleep technology for obstructive sleep apnea, snoring solutions, hypertension & respiratory care solutions, launched an AirSense 11 PAP Series, Personal Therapy Assistant, and Care Check-In for treating sleep apnea.

*Definition: Sleep aids are pills and medical devices that are used in the diagnosis and treatment of sleep disorders. Sleep aids consist of various products such as medications, sleep laboratories, sleep apnea devices, and mattresses & pillows. Medications generally include drugs, which help induce sleep by restraining activities in the central nervous system. Sleeping pills or other sleep aids are commonly used to treat insomnia and occasional sleeplessness. Sleep aid produces a sedative effect varies on its chemical composition.

Market Segmentation

•  Product Type Insights (Revenue, USD Bn, 2019 - 2031)
  • Medications
  • Sleep Apnea Devices
  • Mattresses and Pillows
  • Others
•  Sleep Disorder Insights (Revenue, USD Bn, 2019 - 2031)
  • Insomnia
  • Sleep Apnea
  • Restless Legs Syndrome
  • Night Terrors
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • Pfizer Inc.
  • GSK plc
  • Sommetrics, Inc.
  • Cadwell Industries, Inc.
  • SleepMed, Inc.
  • Natus Medical Incorporated
  • Therapix Biosciences Ltd
  • Compumedics Limited
  • Eisai Co., Ltd.
  • Tris Pharma, Inc.
  • Novartis AG
  • Idorsia Pharmaceuticals Ltd.
  • ResMed
  • AstraZeneca