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Sleeping Aids Market Estimated to Record Highest CAGR by 2026

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Sleeping aids, also known as hypnotics are sleeping pills or devices, which are used to induce sleep. It is used in the treatment of various sleeping disorders such as narcolepsy, sleep apnea, and insomnia, which are caused due to factors such as ps
Sleeping Aids Market Estimated to Record Highest
CAGR by 2026
Sleeping Aids Market - by Product Type (Drugs, Sleep Apnea Devices, and
Mattresses and Pillows) and by Disorder (Insomnia, Sleep Apnea, Narcolepsy,
Sleep Walking, and Others) - Global Industry Insights, Trends, Outlook, and
Opportunity Analysis, 2018-2026
Sleeping aids, also known as hypnotics are sleeping pills or devices, which are used to induce sleep. It
is used in the treatment of various sleeping disorders such as narcolepsy, sleep apnea, and insomnia,
which are caused due to factors such as psychiatric disorders (Depression and anxiety), environmental
problems (light, noise and extreme temperatures) medical issues (asthma) and others. Sleeping aid
medications include non-benzodiazepines, antidepressants, and antipsychotics for the treatment of
sleeping disorders. However, various behavioral therapies such as light therapy, cognitive behavioral
therapy, and relaxation techniques are also used in the treatment of these disorders. According to
Centers for Disease Control and Prevention (CDC), in 2017, around 49.2 million people across the
globe have trouble focusing due to lack of sleep. Click To Read More On Sleeping Aids Market.
Rising incidences of insomnia is expected to fuel growth of the sleeping aids market
One of the major factors contributing to growth of the sleeping aids market is the rising number of
insomnia cases. According to the Centers for Disease Control and Prevention (CDC), in 2016, around
70 million adults suffered from insomnia in the U.S., with men reporting a higher rate of insomnia
cases. Moreover, increasing geriatric population, changing life style with increase in consumption of
alcohol, caffeine, and smoking, are some other factors leading to sleeping disorders. For instance,
caffeine blocks the effectiveness of adenosine, a chemical that helps to bring on drowsiness and to
regulate the sleep wake cycles.
On the basis of geography, the global sleeping aids market is segmented into North America, Latin
America, Europe, Asia Pacific, Middle East, and Africa. North America held the dominant position in
the global sleeping aids market in 2016. This is attributed to rising number of sleep apnea disorders,
which is a chronic disease that increases the risk of heart diseases, high blood pressure, depression, and
diabetes. For instance, according to American Academy of Sleep Medicine, in 2014, around 25 million
people were affected with sleep apnea disorder in the U.S.
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Furthermore, Asia Pacific is expected to be the fastest growing region in the global sleeping aids
market, owing to rising demand for sleeping pills due to stressful modern lifestyle. For instance,
according to the Food and Drug Administration (FDA) in 2014, in Japan around 339 million sleeping
pills were sold and the three most common drugs sold for the treatment of insomnia were Zolpidem
(137.09 million pills), Estazolam (86.08 million pills) and Zopiclone (28.74 million pills).
Strategic partnerships among key players to deliver expert solutions for sleep apnea detection is
expected to propel the market growth
Major players operating in the global sleeping aids market include Itamar Medical, SleepMed Inc, Teva
Pharmaceutical Industries Ltd., Cadwell Laboratories Inc., and Drive Medical Ltd. Key players are
focusing on strategic mergers and acquisition for development of novel products in order to provide
better care for sleep disorders. For instance, in August 2017, SleepMed Inc. announced its plans to
enter into partnership with Early Sense, the inventor of Early Sense live, a sleep monitor that shares
precise data with users about their sleep cycles. The objective of this partnership was to develop a
sensor that can be used for monitoring disruptions throughout the night, including detection of
interrupted breathing, heart rate, sleep cycles, and stress levels. The partnership will provide a
comprehensive solution to its customers enabling better diagnosis and therapy.
Sleeping Aids Market Taxonomy
On the basis of treatment, the global sleeping aids market is segmented into:
•Drug Type
•Prescription-based Drugs
•Over-the-counter Drugs
•Herbal Drugs
•Sleep Apnea Devices
•Positive Airway Pressure (PAP) Devices
•Adaptive Servo-ventilation (ASV)
•Oxygen Concentrators
•Oral Appliance
•Others
•Mattresses and Pillows
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ravikiran
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