Dublin, July 01, 2021 (GLOBE NEWSWIRE) -- The "The U.S. Sleep Aids Market" report has been added to ResearchAndMarkets.com's offering.
Marketdata LLC, a leading independent market research publisher of “off-the-shelf” studies about service industries since 1979, has released a new 177-page report entitled: The Sleep Market: Sleep Labs, Bedding, CPAPs, Drugs & More
This study examines the "sleep" market and all its segments, covering markets for:anti-insomnia drugs and OTC supplements, sleep labs/centers, mattresses and pillows, CPAPs (continuous positive airway pressure devices) for sleep apnea, and retail sleep aids: earplugs, sleep lamps, sound conditioning machines, eye masks, books on sleep). The report also includes extensive sleep lab metrics (patient volumes, bed counts, fees, more).
Fully 58% of Americans are estimated to experience insomnia symptoms or sleep disorders. Companies across America are trying to sell us a perfect night's sleep with medications, premium mattresses, high tech pillows, CPAP devices, white noise machines, smartphone apps, and more. All of this has become a $30 billion a year industry.
Sleep labs were hit hard by the pandemic as they shifted to mostly at-home tests and telemedicine. However, the CPAPs market has grown strongly, along with OTC sleep aids/supplements and apps. The mattress and pillows market also held up well as consumers focused more on making their home more comfortable. The study has complete coverage of the pandemic's effect on all market segments.
As obesity rates climb and Americans age, more people are developing sleep apnea and other sleep disorders. Plus, stressors related to the 2020 election, the pandemic and recession are resulting in more sleepless nights for Americans. There are now an estimated 4,400 "sleep labs or centers" in the United States. These labs perform sleep studies and help design treatment programs for insomniacs and those with sleep apnea.
Major Findings:
- Market Size and Growth… Marketdata estimates that the U.S. sleep market was worth $30.66 billion in 2019, up 3.0% from the prior year. The market barely inched up 0.1% in value, to $30.7 billion in 2020, but the total market is forecast to grow 4.8% this year, to a value of $32.1 billion.
- Prescription insomnia drugs market, led by Belsomra, Ambien, and Lunesta, has been declining in value due to the expiration of patents and the entry of cheaper generics. However, OTC supplement sales are growing strongly. The total market of Rx and OTC sleep “drugs” is estimated at $2.1 billion in 2020.
- Sleep Centers… There was a major shift in the mix of in-center vs. at-home sleep studies performed by sleep centers during 2020-from 70% in-house/30% at-home to 30% in-house/70% at-home. This shift to telemedicine, coupled with center closures and lower patient volumes, caused revenues to fall by 27%, to $3.1 billion. A rebound is forecast in 2021. There are an estimated 4,400 U.S. sleep labs.
- CPAP devices - A significant market segment and the one with the highest current growth rates is the CPAP devices market—continuous positive airway pressure devices used for persons with obstructive sleep apnea. This industry remains less than 10% penetrated on a global basis. The market was worth $6.47 billion in 2020, representing a strong 15% gain.
- With consumers more focused than ever last year on comfort and improving their sleep quality, mattress sales held up well, growing by 1.2% to $16.9 billion in retail sales. This market is being disrupted by makers such as Casper and Purple, that have ditched the retail showroom and deliver directly to the customer’s home.
- The sleep pillows market is worth $1.88 billion and is also growing, as new materials and premium-priced and “smart” pillows enter the market
Companies Mentioned
- Casper
- Foundation Surgery Affiliates
- MedBridge Healthcare
- Novasom
- ResMed
- Respironics
- Simmons-Serta
- Sleep Holdings
- Sleep Number Co.
- SleepMed
- Tempur-Sealy
For more information about this report visit https://www.researchandmarkets.com/r/1b9dju
Source: Marketdata LLC