Sleeping Aids Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON , UNITED KINGDOM, October 3, 2024 /EINPresswire.com/ -- The sleeping aids market has experienced robust growth in recent years, expanding from $83.66 billion in 2023 to $90.09 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to increased stress and sleep disorders, aging population, lifestyle changes, awareness and education, consumer preference for natural remedies.
What Is The Estimated Market Size Of The Global Sleeping Aids Market And Its Annual Growth Rate?
The sleeping aids market is projected to continue its strong growth, reaching $124.41 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to wellness and self-care trends, mental health awareness, home-based sleep solutions, personalized sleep solutions, natural and non-invasive options.
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Growth Driver Of The Sleeping Aids MarketThe increasing global aging population is expected to propel the growth of the sleeping aid market going forward. The aging population is used to describe shifts in a population's age distribution that result in a higher percentage of elderly people. There is a growing need for sleep-related solutions due to the various aging-related factors that can cause sleep disorders and disturbances, thus, the need for sleeping aids is largely driven by the aging population.
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Which Market Players Are Steering The Sleeping Aids Market Growth?Key players in the market include Cadwell Industries Inc., Compumedics Limited, DeVilbiss Healthcare Pvt. Ltd., Merck & Co. Inc., Natus Medical Incorporated, Novartis AG, Pfizer Inc., Sanofi SA, Sinovac Biotech Ltd., Sleepmed Inc., Acelity L.P. Inc., Eisai Co. Ltd., ResMed Inc., Fisher & Paykel Healthcare Corporation Limited, Braebon Medical Corporation, Löwenstein Medical GmbH & Co. KG, Takeda Pharmaceutical Company Limited, Koninklijke Philips N.V., AstraZeneca PLC, Biodiem Ltd., Apnea Sciences Corp., Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Vanda Pharmaceuticals Inc., Cadila Healthcare Limited, Johnson & Johnson Services Inc., Mylan N.V., BMC Medical Co. Ltd., Cleveland Medical Devices Inc., Serta Simmons Bedding LLC, Tempur Sealy International Inc., Sleep Number Corporation, Casper Sleep Inc., Purple Innovation Inc., Leesa Sleep LLC.
What Are The Key Trends That Influence Sleeping Aids Market Share And Analysis?Major companies involved in the manufacturing of sleeping aids are focused on strategic collaboration with major manufacturing companies to strengthen their position in the market. Strategic collaborations empower companies to forge alliances with other firms possessing the necessary expertise to transform their envisioned concepts into tangible realities.
How Is The Global Sleeping Aids Market Segmented?1) By Product: Mattresses And Pillows, Sleep Laboratories, Medications, Prescription-based Drugs, OTC Drugs, Herbal Drugs, Sleep Apnea Devices2) By Indication: Insomnia, Sleep Deprivation, Narcolepsy, Sleep Apnea, Other Indications3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, E-Commerce, Drug Stores, Other Distribution Channels
Geographical Insights: North America Leading The Sleeping Aids MarketNorth America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Sleeping Aids Market DefinitionSleeping 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.
Sleeping Aids Global Market Report 2024 from The Business Research Company covers the following information:• Market size data for the forecast period: Historical and Future• Macroeconomic factors affecting the market in the short and long run• Analysis of the macro and micro economic factors that have affected the market in the past five years• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global sleeping aids market report covering trends, opportunities, strategies, and moreThe Sleeping Aids Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on sleeping aids market size, sleeping aids market drivers and trends, sleeping aids market major players and sleeping aids market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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October 03, 2024, 18:14 GMT
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