Sleep Aids Market Size Set to Skyrocket: Forecasted CAGR of 7.04% to Surpass USD 158.28 Billion by 2032


The demand for natural and non-prescription sleep aid products is rising. Escalating incidence of sleep disorders, increasing awareness of the benefits associated with the use of sleep aids, and the continuous technological progress in sleep apnea devices o drive global sleep aids market growth.

Newark, Oct. 18, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 80.16 billion in 2022 global sleep aids market will reach USD 158.28 billion by 2032. Technology advancements, such as sleep tracking devices, smart beds, and wearable sleep tech, present opportunities for creating innovative sleep aids. These devices can monitor sleep patterns, provide personalized recommendations, and integrate with other smart home systems to create a holistic sleep environment. In addition, integrating artificial intelligence (AI) and machine learning algorithms can enhance the efficacy of sleep aids by personalizing treatment plans based on an individual’s sleep patterns and preferences. AI can also offer real-time adjustments to improve sleep quality. With a growing focus on holistic health, there is an opportunity to develop and market non-pharmacological sleep aids, such as cognitive-behavioural therapy for insomnia (CBT-I) apps, meditation and relaxation programs, and sleep hygiene education platforms. Furthermore, nutraceuticals and functional foods with sleep-enhancing properties are gaining popularity. These products can include herbal supplements, drinks, and foods that promote better sleep, offering a natural and non-prescription alternative to traditional sleep aids.

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Key Insight of the Global Sleep Aids Market

Asia Pacific is expected to witness the highest market growth over the forecast period.

There is a growing understanding of sleep disorders and their consequence on overall healthiness and well-being in Asia. As awareness spreads, more individuals seek medical help for their sleep problems, increasing demand for sleep aids. Sleep disorders, such as insomnia, narcolepsy and others, are rising in the Asia Pacific due to changing lifestyles, work-related stress, and increasing urbanization. This prevalence drives the demand for sleep aid products. The Asia Pacific region is experiencing demographic changes, with a significant ageing population. Older individuals are more susceptible to sleep-related issues, creating a larger customer base for sleep aid products. Furthermore, modern lifestyles in many parts of Asia are characterized by high-stress levels, long working hours, and irregular work schedules. These factors contribute to sleep disturbances and the need for sleep aids. In addition, many governments in the Asia Pacific region are investing in their healthcare infrastructure, including sleep clinics and specialist centers. This development supports diagnosing and treating sleep disorders, including prescription sleep aids.

In 2022, the mattresses & pillows segment dominated the market with the largest share of 41.57% and revenue of 33.32 billion.

The product segment includes mattresses & pillows, medications, sleep apnea devices and others. In 2022, the mattresses & pillows segment dominated the market with the largest share of 41.57% and revenue of 33.32 billion.

In 2022, the insomnia segment dominated the market with the highest share of 38.25% and market revenue of 30.66 billion.

The sleep disorder segment is classified into insomnia, narcolepsy, restless leg syndrome, sleep apnea and others. In 2022, the insomnia segment dominated the market with the highest share of 38.25% and market revenue of 30.66 billion.

In 2022, the e-commerce segment held the largest market share at 26.94% and a market revenue of 21.60 billion.

The distribution channel segment is divided into hospital pharmacies, retail pharmacies, e-commerce, drug stores and others. In 2022, the e-commerce segment held the largest market share at 26.94% and a market revenue of 21.60 billion.

Advancement in market

In June 2022: Simple Habit, the acclaimed meditation app embraced by over five million users, has unveiled its latest offering – Sleep Reset, a digital, tailored sleep clinic. This innovative solution, available on iPhone and Android platforms, leverages clinically validated techniques to identify and address the underlying causes of sleep disturbances. The program, meticulously crafted by experts, is geared towards enhancing sleep quality and diminishing anxiety related to sleep issues, drawing from the most effective methods employed by esteemed sleep clinics.

In May 2022: StimScience has introduced Somnee, a pioneering consumer support product designed to enhance sleep quality. Somnee is the world’s inaugural electronic sleep aid headband, employing personalized, non-invasive brain stimulation techniques. This opulent silk headband is donned for a brief 15-minute stimulation session at bedtime. Somnee incorporates a proprietary algorithm to administer closed-loop transcranial electrical stimulation (tES) safely and naturally, resulting in improved sleep. By assessing the unique brain state of the wearer, the headband meticulously replicates and amplifies the individual’s natural sleep patterns, culminating in a personalized stimulation session.

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Market Dynamics

Driver: The availability of Over the Counter (OTC) products and growing knowledge of the importance of sleep.

The increasing understanding of the significance of sleep for overall health and well-being has encouraged people to seek help for sleep-related problems. Information and education about the benefits of proper sleep have driven demand for sleep aid products. Additionally, the availability of OTC sleep aid products has made it easier for individuals to access and purchase these remedies without a prescription, contributing to market growth. As global travel and shift work become more common, individuals often need help to adapt to changing time zones and work schedules. This factor has increased the demand for sleep aids that help regulate sleep patterns.

Restraint: Alternative therapies and lifestyle changes.

Non-pharmacological treatments for sleep disorders, such as cognitive-behavioural therapy for insomnia (CBT-I), lifestyle changes, and relaxation techniques, are gaining popularity. These alternatives may reduce the demand for sleep aid medications. Also, many sleep aids can be habit-forming, leading to concerns about dependency and withdrawal symptoms. Patients and healthcare providers often seek non-addictive alternatives. This factor can further hamper the market’s growth.
Opportunity: Telemedicine and digital health.
Telemedicine platforms offer opportunities for healthcare providers to diagnose and treat sleep disorders remotely, expanding access to sleep aid consultations and prescriptions. Besides, addressing the link between mental health and sleep disturbances presents an opportunity for holistic treatment approaches. Combining sleep aids with mental health therapies can be a promising avenue for market growth. Also, personalized medicine and treatment plans based on genetic and lifestyle factors can help individuals receive tailored sleep aid solutions, enhancing the effectiveness of treatment.

Challenge: Resistance to medication.

Some individuals may develop a tolerance to sleep aid medications, necessitating higher doses to achieve the same effect. This factor can lead to a cycle of increasing medication use, which is not ideal for long-term health. In addition, economic fluctuations can influence consumer spending habits. In times of economic recession, individuals tend to reduce their expenditures on discretionary healthcare items, which include products like sleep aids.

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Some of the major players operating in the global sleep aids market are:

• AstraZeneca Plc
• Biodiem
• BMC Medical Co., Ltd.
• Cadwell Industries, Inc.
• Compumedics Limited
• Drive DeVilbiss Healthcare Inc.
• Eisai Inc.
• Fisher & Paykel Healthcare Limited
• GlaxoSmithKline Plc
• Idorsia Pharmaceuticals Ltd.
• Koninklijke Philips N.V.
• LG Electronics
• Lowenstein Medical Technology GmbH
• Merck& Co., Inc.
• Natus Medical Inc.
• Novartis AG
• Pfizer, Inc.
• ResMed Inc.
• Rotech Healthcare Inc.
• Sanofi S.A.
• SleepMed Inc.
• Simple Habit
• StimScience
• Takeda Pharmaceutical Company Limited

Key Segments cover in the market:

By Product

• Mattresses & Pillows
• Medications
• Sleep Apnea Devices
• Others

By Sleep Disorder

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

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• E-commerce
• Drug Stores
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

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