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  • Published On : Nov 2022
  • Code : CMI1059
  • Industry : Medical Devices
  • Pages : 187
  • Formats :

Sleep aids are pills and medical devices that are used in the diagnosis and treatment of sleep disorders. Sleep aids consist of various products such as medications, sleep laboratories, sleep apnea devices, and mattresses & pillows. Medications generally include drugs, which help induce sleep by restraining activities in the central nervous system. Sleeping pills or other sleep aids are commonly used to treat insomnia and occasional sleeplessness. Sleep aid produces a sedative effect varies on its chemical composition.

Global sleep aids market is estimated to be valued at US$ 68,360.2 million in 2022 and is expected to exhibit a CAGR of 7.3% during the forecast period (2022-2030).

Figure 1.Global Sleep Aids Market Share (%), by Product Type, 2022

Sleep Aids  | Coherent Market Insights

Global Sleep Aids Market - Drivers

Increasing prevalence of sleeping disorders such as insomnia and sleep apnea is expected to propel growth of the global Sleep Aids Market during the forecast period. For instance, in May 2022, a review article was published by OneCare Media, LLC, that around 10% to 30% and 30% to 48% of adults and older adults struggles with chronic insomnia every year, globally.

Furthermore, key companies focusing on product approval for treatment of insomnia a type of sleep disorder are expected to propel growth of the global Sleep Aids Market during the forecast period. For instance, in January 2022, Idorsia Pharmaceuticals Ltd., a biopharmaceutical company that develops and manufactures pharmaceutical, biological, and diagnostic products., receives the U.S. Food and Drug Administration approval of QUVIVIQ (daridorexant), a dual orexin receptor antagonist, which blocks the binding of the wake-promoting neuropeptides orexins and turn down overactive wakefulness, for treatment of insomnia.

Figure 2. Global Sleep Aids Market Share (%), by Region, 2022

Sleep Aids  | Coherent Market Insights

Global Sleep Aids Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting production and demand of drugs and vaccines, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, faced problems with regard to the transportation of drugs and vaccines from one place to another. Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency. According to the World Health Organization’s report, manifestation of coronavirus (COVID-19) has resulted in more than 626,090,018 confirmed cases infected by COVID-19 worldwide as of 25th October, 2022.

Furthermore, due to COVID-19 pandemic, the prevalence of sleeping disorders like insomnia and sleep apnea among the COVID-19 patients in comparison with the people not affected with COVID-19 are more during the COVID-19 pandemic. For instance, in February 2021, a data was published by National Center for Biotechnology Information, according to which, prevalence rate of sleep problems among all populations was 35.7% while patients with COVID-19 appeared to be the most affected group, with a rate of 74.8%, globally.

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Sleep Aids Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 68,360.2 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 7.3% 2030 Value Projection: US$ 120,236.7 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Medication, Mattresses and pillows, Sleep apnea devices, Others
  • By Sleep Disorder: Insomnia, Sleep apnea, Restless legs syndrome, Narcolepsy, Night terrors, Others 
Companies covered:

Sanofi, Merck & Co., Inc, Pfizer Inc., Koninklijke Philips N.V., GSK plc, Sommetrics, Inc., ResMed, Cadwell Industries, Inc., SleepMed, Inc., Sci Sparc, Natus Medical Incorporated, Therapix Biosciences Ltd, Compumedics Limited, AstraZeneca, Eisai Co., Ltd., Tris Pharma, Inc., Novartis AG, Fisher & Paykel Healthcare Limited, Rotech Healthcare Inc., Idorsia Pharmaceuticals Ltd., StimScience among others.

Growth Drivers:
  • Increasing  sleeping aids product launch and approvals
  • Increasing sleeping disorders 
Restraints & Challenges:
  • Side effects of sleeping pills

Global Sleep Aids Market: Key Developments

In June 2021, Eisai Co., Ltd., a research-based pharmaceutical company that develops, manufactures and commercializes high quality medicines, launches an in-house developed drug DAYVIGO (LEMBOREXANT) in Hong Kong, China. DAYVIGO is a dual orexin receptor antagonist that inhibits orexin neurotransmission regulating sleep-wake rhythm for the treatment of insomnia. In addition, applications for approval have been submitted to the respective regulatory authorities in Australia, Brazil, India, Indonesia, and other countries.

In August 2021, ResMed, a company which provide an innovative solutions in sleep technology for obstructive sleep apnea, snoring solutions, hypertension & respiratory care solutions, launched an AirSense 11 PAP Series, Personal Therapy Assistant and Care Check-In for treating sleep apnea. AirSense 11 gives access to myAir App, which tracks the amount of time patients spend using CPAP therapy, number of sleep apnea events per hour.

Global Sleep Aids Market: Restraint

The major factors that hinder growth of the global Sleep Aids Market include side effects of sleeping pills which will hinder the global Sleep Aids Market. For instance, in May 2022, an article was published by Bennett, Coleman & Co. Ltd in Times of India, that recent stress causing anxiety and sleep disturbance can be treated for a few days with sleeping pills. Sleeping pills are harmful and cause drowsiness, headache, constipation or diarrhea, neurological abnormalities, muscle weakness, loss of libido and many more side effects.

Global Sleep Aids Market- Key Players

Major players operating in the global Sleep Aids Market include Sanofi, Merck & Co., Inc, Pfizer Inc., Koninklijke Philips N.V., GSK plc, Sommetrics, Inc., ResMed, Cadwell Industries, Inc., SleepMed, Inc., Sci Sparc, Natus Medical Incorporated, Therapix Biosciences Ltd, Compumedics Limited, AstraZeneca, Eisai Co., Ltd., Tris Pharma, Inc., Novartis AG, Fisher & Paykel Healthcare Limited, Rotech Healthcare Inc., Idorsia Pharmaceuticals Ltd., StimScience among others.

Sleeping aids, are also known as hypnotics, sleeping pills or devices 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. Sleep disorders are caused by different diseases such as heart disease, lung disease, nerve disorders, mental illness, and depression.

Market Dynamics

Increasing adoption of organic strategies by key players in market such as obtaining authorization by the U.S FDA is expected to drive market growth over the forecast period. For instance, in February 2021, the U.S. FDA announced the authorization of a novel device eXciteOSA, a removable tongue muscle stimulation device which delivers neuromuscular stimulation to the tongue to reduce snoring and mild sleep apnea for patients 18 years or older. The U.S. FDA has assessed the safety as well as effectiveness of the eXciteOSA and studied in 115 patients with snoring and mild apnea. eXciteOSA device is used for 20 minutes and once a day for every 6 weeks then discontinued for 2 weeks to study and assess the device. eXciteOSA device is reviewed through De-Novo premarket review pathway, for low to moderate risk device. It works by process called electric muscle stimulation through mouthpiece that sits around the tongue.

Key features of the study:

  • This report provides an in-depth analysis of the global Sleep Aids Market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global Sleep Aids Market  based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Sanofi, Merck & Co., Inc, Pfizer Inc., Koninklijke Philips N.V., GSK plc, Sommetrics, Inc., ResMed, Cadwell Industries, Inc., SleepMed, Inc., Sci Sparc, Natus Medical Incorporated, Therapix Biosciences Ltd, Compumedics Limited, AstraZeneca, Eisai Co., Ltd., Tris Pharma, Inc., Novartis AG, Fisher & Paykel Healthcare Limited, Rotech Healthcare Inc., Idorsia Pharmaceuticals Ltd., StimScience
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global Sleep Aids Market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global Sleep Aids Market

Detailed Segmentation:

  • Global Sleep Aids Market, By Product Type:
    • Medication
    • Mattresses and pillows
    • Sleep apnea devices 
    • Others
  • Global Sleep Aids Market, By Sleep Disorder:
    • Insomnia
    • Sleep apnea
    • Restless legs syndrome
    • Narcolepsy
    • Night terrors
    • Others
  • Global Sleep Aids Market, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Region/Country
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Sanofi
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • Merck & Co., Inc,
    • Pfizer Inc.,
    • Koninklijke Philips N.V.,
    • GSK plc,
    • Sommetrics, Inc.,
    • ResMed,
    • Cadwell Industries, Inc.
    • SleepMed, Inc.
    • Sci Sparc
    • Natus Medical Incorporated
    • Therapix Biosciences Ltd
    • Compumedics Limited.
    • AstraZeneca
    • Eisai Co., Ltd
    • Tris Pharma
    • Novartis AG
    • Fisher & Paykel Healthcare Limited
    • Rotech Healthcare Inc.
    • Idorsia Pharmaceuticals Ltd
    • StimScience

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

Global sleep aids market size is estimated to be valued at US$ 68,360.2 million in 2022 and is expected to exhibit a CAGR of 7.3% between 2022 and 2030.
Increasing prevalence of sleeping disorders and increasing product launch and product approval by key players are driving of the market.
Medications segment is the leading product type segment in the market.
The major factors hampering growth of the market include side effects of sleeping pills.
Major players operating in the market include Sanofi, Merck & Co., Inc, Pfizer Inc., Koninklijke Philips N.V., GSK plc, Sommetrics, Inc., ResMed, Cadwell Industries, Inc., SleepMed, Inc., Sci Sparc, Natus Medical Incorporated, Therapix Biosciences Ltd, Compumedics Limited, AstraZeneca, Eisai Co., Ltd., Tris Pharma, Inc., Novartis AG, Fisher & Paykel Healthcare Limited, Rotech Healthcare Inc., Idorsia Pharmaceuticals Ltd., StimScience Ltd among others.

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