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The illnesses known as sleep disorders affect the sleep cycle or interrupt restful sleep, which can lead to daytime tiredness and other symptoms. It may show a variety of symptoms, including recurring sleep issues, daytime fatigue despite getting at least seven hours of sleep the night before, and a diminished or impaired capacity for engaging in routine daytime activities. Lack of sleep can have negative effects on academic and professional performance, interpersonal interactions, thinking, mental health, weight, and the onset of diabetes and heart disease.
The Size of the Global Sleep Aids Market, which was estimated to be worth $59,815.10 million in 2020, is expected to grow to $111,920.10 million by 2030, a CAGR of 6.9% from 2023 to 2030.
Insomnia, restless legs syndrome, narcolepsy, and sleep apnea are some of the prevalent sleep disorders. Treatment options for sleep disorders include counselling, medications and supplements like melatonin, zolpidem, zaleplon, eszopiclone, ramelteon, suvorexant, lemborexant, gabapentin, and a number of stimulants or medications that promote wakefulness, like modafinil, armodafinil, and pitolisant. Additionally, frequent exercise and appropriate control of the environment's noise, light, and temperature also contribute to sleep disruption. The therapy of sleep disturbances might potentially benefit from a variety of sleeping aids.
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Some of the key players profiled in the study are:
Koninklijke Philips, Merck, Sanofi, DeVilbiss Healthcare, Pfizer, SleepMed, Cadwell Laboratories, Compumedics, Natus Medical, GlaxoSmithKline
Global Sleep Aids Market: Segmental Analysis
Sleep Aids Market by Type:
Sleep Apnea Devices
Medication
Mattress And Pillows
Sleep Laboratory Services
Others
Sleep Aids Market by Application:
Hospitals
Clinics
Home Use
Opportunities:
Technological progress is accelerating market expansion.
Increasing Public Knowledge of the Sleep Aids Market
Sleep Aids Market Regional Analysis:
In 2020, North America had a significant portion of the worldwide sleep aids market, and it is anticipated that it will continue to hold this position during the forecast period. This is attributed to an increase in the prevalence of sleep disorders like sleep apnea, a rise in the demand for sleep aids, the availability of cutting-edge healthcare facilities with skilled medical personnel, an increase in the number of R&D activities with a significant presence from key players, and an increase in government investment in the healthcare system. But over the projected period, Asia-Pacific is anticipated to increase at the fastest rate. Additionally, the Asia-Pacific sleep aid market is predicted to grow at a high CAGR for Japan and China, primarily as a result of improvements in healthcare infrastructure, an increase in the number of hospitals with cutting-edge equipment, the development of the R&D sector, an increase in healthcare reforms, and technological advancements in the field of sleep aids.
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Spain etc.)
Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
South America (Brazil, Argentina and Colombia etc.)
Middle East & Africa (South Africa, UAE and Saudi Arabia etc.)
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Sleep Aids Market - Covid-19 Impact and Recovery Analysis:
In late December, the coronavirus (COVID-19) was found in the Chinese city of Wuhan's Hubei province. A virus called the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) that spreads between people is the cause of the illness. The initial COVID-19 epidemic has substantially altered the prospects for the sleep aids sector. Due to the global lockdown brought on by the COVID-19 epidemic, trading in many goods—including sleeping pills—was limited. This had an effect on the market by lowering the demand for sleeping pills. Additionally, the production of sleeping aids solutions has decreased due to fluctuations in people's monthly incomes and the closing of factories worldwide to safeguard employees.
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The advantages of utilising sleep aids products and the rise in disposable income are driving the expansion of the sleep aids market. Additionally, the rise in the number of elderly and obese people has increased the number of sleep problem cases. This is expected to result in an increase in the number of patients who have sleep disorders, which would help the market develop. However, it is anticipated that the adverse effects of sleeping pills on human health and the high number of drug patents expiring would restrain the market's expansion. On the other hand, the development of sleep aids products aids in raising adoption rates and the untapped market in developing nations, which are anticipated to present profitable potential for the market's expansion.
Table of Contents – Major Key Points
4.1. COVID-19 Impact Analysis
4.2. Impact of Ukraine- Russia war
4.3. Impact of ongoing Recession on Major Economies
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