Global Market For Sleep Aid Devices Could Reach $112.7 Billion By 2025

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Apr 23, 2021, 08:45 ET

PALM BEACH, Fla., April 23, 2021 /PRNewswire/ -- Sleep is an essential need of all species… including homo sapiens, especially now during the pandemic. Sleep disorders are affecting a large pool of population, which has boosted the awareness about these disorders and other related ailments. Increase in the prevalence of sleep disorders has led to an expansion of private care centers and hospitals. These sleep centers have increased awareness among people about the importance of tracking sleep patterns for better sleep. This is driving the usage of home sleep screening devices for sleep disorder cases, and subsequently increasing the revenue generation of the home sleep screening devices market. Various reports project that the market for sleep aides or technical devices should continue to grow for at least the next several years. One such report from Zion marketing (discussed in IPS News) said that the global demand for Sleep Tech Devices Market was valued at approximately USD 11.79 Billion in 2018, and is expected to generate revenue of around USD 26.62 Billion by end of 2025, growing at a CAGR of around 12.44 % between 2018 and 2025. Another report from BCC Research projected even higher revenues saying: "The global market for sleep aids should grow from $81.2 billion in 2020 to $112.7 billion by 2025 with a compound annual growth rate (CAGR) of 6.8% for the period of 2020-2025." Active companies in the markets this week include Ocugen, Inc. (NASDAQ: OCGN), Hapbee Technologies, Inc. (OTCQB: HAPBF) (TSX-V: HAPB), Bionano Genomics, Inc. (NASDAQ: BNGO), Onconova Therapeutics, Inc. (NASDAQ: ONTX), Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP).

The IPS article continued: "In people with sleep apnea, narcolepsy, and insomnia, the sleep tech devices are electronic devices used to track and improve sleep. There are a range of technologically enhanced sleep tech devices on the market, including wearable smart watches and bands, rings, sleep pads, headbands, beds and ear plugs. Over the past couple of years, sleep enhancement applications have seen major developments that have revolutionized the sleep tech industry. Besides tracking sleep, newly developed advanced sleep tech devices can also control temperatures that might otherwise disturb sleep. The easy availability of such improved sleep devices will have a positive impact on sleep tech product market growth."

Hapbee Technologies, Inc. (OTCQB: HAPBF) (TSX-V: HAPB) BREAKING NEWS: Popular Wellness Wearable Band, Hapbee, Launches New Signal "Bedtime" - Hapbee Completes Development of First New Signal Based on User-feedback and Market Demand; Plans to Launch More Signals this Year - Hapbee Technologies, Inc. ("Hapbee" or the "Company"), a wellness technology company and creator of the Hapbee wearable band (pronounced Happy), is pleased to announce the launch of its first new signal since the original six were made available to the public. This seventh signal, "Bedtime," is intended to help users wind down at the end of a long day.

The upcoming launch of the "Bedtime" signal marks a significant milestone for Hapbee's platform, as it demonstrates the Company's ability to execute on its business model of seamless, new signal releases intended to enhance user experience and optionality. Public release of the "Bedtime" signal is anticipated for April 27, 2021.

"Launching a new signal demonstrates Hapbee's ability to deploy new technology across both app and firmware updates. Future firmware and software updates will continue to expand the signal content available through the app as well as enhance product functionality for users who already have our wearable in hand." says Brian Mogen, PhD, Hapbee's Chief Scientific Officer.

Hapbee currently has several additional signals in its research and development pipeline. The selection and development of the "Bedtime" signal was based on current customer feedback, market research and a growing awareness of the importance of healthy sleeping habits. According to a recent study highlighted by StudyFinds.org, "Nearly two-thirds of Americans (62%) struggle to fall asleep each night." Hapbee intends to service this growing marketplace through the launch of its new signal and other initiatives. source: https://www.studyfinds.org/next-day-anxiety-americans-struggle-sleep/

"Uninterrupted, quality sleep is crucial for physical and mental fitness. 'Bedtime' aims to help people unplug from all the noise in their day and to get the good night's sleep they deserve," says Scott Donnell, CEO of Hapbee. "The new 'Bedtime' signal will be utilized by users of the Hapbee wearable band. Additionally, and pending successful prototype completion, this new signal could be utilized in the bed-related product we are currently developing."

Prior to the development of the Company's new "Bedtime" signal, Hapbee's wearable came pre-loaded with six signals: Alert, Happy, Calm, Relax, Focus and Deep Sleep (formerly Sleepy). The Company believes "Bedtime" will work best when used 30-60 minutes before bed, during one's bedtime routine, or on a long flight. It was developed to be used alone or before the Deep Sleep signal. To Learn More About Hapbee Technologies, please visit https://hapbee.com/

READ MORE DETAILS ABOUT HAPB BY ALSO VISITING: https://www.equedia.com/tech-giants-invest-in-sleep-one-company-could-disrupt-them/

And to examine another angle regarding sleep issues, Forbes recently published an article that according to a new study, disrupted sleep, insomnia and daily burnout are all linked to a higher risk of coronavirus infection, more severe Covid-19 symptoms and longer recovery periods in high-risk healthcare workers. The observational study, published in the online journal BMJ Nutrition Prevention & Health, found that for every hour of extra sleep the healthcare worker got they lowered their odds of becoming infected with Covid-19 by 12%.

"This study spotlights an often-neglected area of wellbeing: the need for quality sleep and re-charge time to prevent burnout and its consequences," Minha Rajput-Ray, Medical Director of NNEdPro Global Centre for Nutrition & Health, said in a statement. This latest study surveyed 3,000 healthcare workers from France, Germany, Italy, Spain, the U.K., and the U.S., of which 568 got Covid-19.

In other Biotech and Covid Developments from around the markets:

Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19, recently announced that its co-development partner, Bharat Biotech, shared positive results of the second interim analysis of its Phase 3 study of COVAXIN, a whole virion inactivated COVID-19 vaccine candidate. COVAXIN demonstrated a vaccine efficacy in mild, moderate, and severe COVID-19 disease of 78% with efficacy against severe COVID-19 disease alone of 100%.

"We continue to be excited by the compelling second interim results of Bharat Biotech's Phase 3 clinical trial. We believe that COVAXIN can help change the course of this pandemic by preventing severe COVID-19 disease including hospitalizations by 100% as well as significantly limit the spread of asymptomatic COVID-19 infections based on efficacy shown to date. We are dedicated to being a part of the solution to save lives from COVID-19 by bringing COVAXIN to the U.S. market. Based on a traditional vaccine platform that has a long-established safety profile, we believe COVAXIN is an important tool to add to our national arsenal in ending the pandemic," said Dr. Shankar Musunuri, Chairman of the Board, Chief Executive Officer, and Co-founder of Ocugen.

Bionano Genomics, Inc. (NASDAQ: BNGO), recently announced the publication of a study that analyzed the mechanisms of DNA replication, a fundamental process of cell growth implicated in cancer that was previously hard to study in human genomes. The study, led by Dr. Nicholas Rhind from the University of Massachusetts Medical School with an international team of scientists from France, Canada and the USA, described a method combining optical genome mapping (OGM) with Bionano's Saphyr^® system with a labeling method developed by the scientists. The Saphyr-based method was capable of determining the timing, speed and origin of DNA replication in human cells at a coverage level that is thousands of times higher than what earlier methods such as nanopore sequencing allowed. The breakthrough quality and quantity of single molecule data generated by Saphyr in this study illustrates the importance of novel technologies such as OGM in driving a wave of big biology and innovation in genomics.

The body of humans and other organisms develop and grow when cells divide, and for each division the entire genome needs to be replicated. Mistakes in DNA replication can lead to genome instability and mutations that drive cancer. Because cancer cells divide excessively, many chemotherapeutic drugs target and disrupt DNA replication. A better understanding of these mechanisms could help develop new cancer drugs with reduced side effects.

Onconova Therapeutics, Inc. (NASDAQ: ONTX), a clinical-stage biopharmaceutical company focused on discovering and developing novel products for patients with cancer, recently announced that the first patient has been dosed in an investigator-initiated Phase 2 study to assess the efficacy and safety of rigosertib in patients with recessive dystrophic epidermolysis bullosa (RDEB)-associated locally advanced/metastatic squamous cell carcinoma (SCC). The patient was dosed at the EB House Austria, a center of expertise for epidermolysis bullosa at the University Hospital Salzburg, Austria. Additional sites are anticipated to be opened in the UK and in the US to study this rare and genomically driven devastating disease.

Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP), a clinical-stage biopharmaceutical company, and OyaGen, Inc. (OyaGen), a pre-clinical biotechnology research company, recently announced an exclusive worldwide licensing agreement for an antiviral inhibitor of SARS-CoV-2, TNX-3500 (sangivamycin, formerly OYA1), for the treatment of COVID-19 and potentially other viral disorders. The active ingredient of TNX-3500 has been studied for safety in humans in prior studies on cancer patients at the U.S. National Cancer Institute but has not been approved for marketing in any jurisdiction.

"We are excited to expand our pipeline and we look forward to developing TNX-3500 as a potential treatment for COVID-19 and emerging variants," said Seth Lederman, M.D., Tonix's President and Chief Executive Officer. "TNX-3500 is in the pre-Investigational New Drug (IND) phase of development with encouraging early data from cell culture infectivity studies with SARS-CoV-2. We believe that its potency on SARS-CoV-2 inhibition in tissue culture and its tolerability in humans from prior studies suggests that TNX-3500 may qualify for expedited clinical development."

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