Westford, USA, March 15, 2023 (GLOBE NEWSWIRE) -- North America led the major growth of the sleep aids market owing to the increasing prevalence of sleep disorders such as insomnia, sleep apnea, and restless leg syndrome. As people become better aware of the influence of sleep on their overall health and well-being, there is a growing demand for products that can help them achieve better quality sleep. The availability of a wide range of sleep aids in different forms, such as prescription drugs, over-the-counter products, and herbal supplements, is also driving the market growth. Increasing research and development activities to develop more effective and safer sleep aids will also likely contribute to the market's growth in the coming years. The increasing adoption of e-commerce platforms and the availability of online information about sleep aids are also driving market growth by making it easier for consumers to access and purchase products that can help them sleep better.
According to research conducted by SkyQuest in 2022, about 11% of people experience insomnia which qualifies as a medical condition. This finding suggests a positive outlook for the sleep aids market. With the prevalence of insomnia and other sleep disorders, the demand for sleep aids is expected to rise.
Browse in-depth TOC on the "Sleep Aids Market"
- Pages - 244
- Tables - 67
- Figures - 70
Sleep aids are medications or supplements designed to help people fall asleep or stay asleep throughout the night. There are several different types of sleep aids available, ranging from over-the-counter medications to prescription drugs. In addition to medications and lifestyle changes, several natural sleep aids may be helpful. These include herbal supplements like valerian root and chamomile and relaxation techniques like meditation and deep breathing exercises.
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Prominent Players in Sleep Aids Market
- Novartis AG
- Cadwell Industries Inc.
- Eisai Co., Ltd.
- Biodiem
- AstraZeneca Plc.
- CSL Limited
- Biodiem
- GlaxoSmithKline Plc.
- Natus Medical Incorporated
- Compumedics Limited
- Caawell Industries Inc.
- F.Hoffmann-La Roche Ltd.
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Mattresses & Pillows Segment to Register Higher Growth Thanks to Wide Range of Product Categories Available to consumers
According to market research data, the mattresses and pillows segment emerged as the dominant revenue generator in the sleep aids market in 2021. This trend is expected to continue throughout 2022 to 2028, with the segment projected to be a major contributor to the market's growth. The importance of comfortable and supportive sleep surfaces cannot be overstated, as a good night's sleep is essential for overall health and well-being. As a result, the demand for high-quality mattresses and pillows has skyrocketed, with an increasing number of people experiencing sleep-related issues such as insomnia, restless sleep, and sleep apnea.
According to the latest research, the North American region emerged as the leading player in the sleep aids market in 2021, with a significant share of the overall market. This dominance is expected to continue over the next few years, with projections indicating a substantial leap from 2022 to 2028. The growing awareness about the importance of healthy sleep habits and an increase in sleep disorders and insomnia has driven the demand for sleep aids in the North American region. In addition, various factors, such as a sedentary lifestyle, hectic work schedules, and high-stress levels, have contributed to the rise in sleep disorders in the region.
Insomnia Segment to Capture Largest Share owing to Growing Demand for Effective and Safe Treatment
The sleep aids market has been witnessing a remarkable surge in demand due to the increasing prevalence of insomnia among individuals. In 2021, the insomnia segment of the market recorded substantial growth, and it is expected to gain even higher momentum in the coming years, from 2022 to 2028. This trend can be attributed to various factors such as stress, anxiety, irregular sleep patterns, and lifestyle changes resulting in sleep disturbances. Moreover, the availability of various innovative and advanced products that are safe and effective in treating insomnia has also driven the demand for sleep aids.
Asia Pacific region saw the highest growth in the sleep aids market in 2021. This growth is expected to continue, and the region will likely become a dominant market force by 2028. The rising cases of sleep disorders and rising awareness of the importance of quality sleep are driving the demand for sleep aids in the Asia Pacific region. Additionally, the region's growing middle class and increasing disposable income enable more people to afford sleep aids and other healthcare products.
The sleep aids market is a fiercely competitive industry that demands a comprehensive understanding of emerging trends and opportunities to stay ahead of the curve. SkyQuest's report offers valuable insights and recommendations for companies seeking to expand their businesses and make informed decisions that can drive success in this dynamic market. In addition, the report offers a valuable starting point for any company seeking to navigate this challenging landscape and emerge as a leader in the market.
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Key Developments in the Sleep Aids Market
- The team behind Simple Habit, a popular meditation app, has recently developed a Sleep Reset program that offers a promising alternative to traditional sleep aid medication. This program is designed to help individuals improve their sleep quality and overall well-being without prescription drugs. The Sleep Reset program consists of guided meditations and relaxation techniques tailored specifically to help individuals fall asleep faster and stay asleep longer.
- Arlak Biotech has recently introduced its newest product, the Arlak Melatonin Spray, which promises superior quality and effectiveness for users looking to improve their sleep patterns. Melatonin is a crucial hormone produced naturally by the body that helps regulate the sleep-wake cycle. The Arlak Melatonin Spray provides a convenient and easy way to supplement the body's natural production. The spray is designed to be absorbed quickly into the body, providing a gentle and natural way to induce sleep.
Key Questions Answered in Sleep Aids Market Report
- How have recent technological advancements affected the growth of the global market, and what impact have they had on industry players?
- What are some emerging trends in the global market, and how can companies position themselves to take advantage of them?
- What are the most significant challenges facing companies in the global market, and what steps can they take to address them?
- How have changes in consumer preferences and behavior impacted the global market, and what can companies do to adapt?
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