Sleeping Aids Market to Generate $157,484.5 Million Revenue by 2030, Says P&S Intelligence

NEW YORK, Dec. 13, 2022 /PRNewswire/ -- In 2021, the sleeping aids market had a total size of $83,619.7 million, and it will reach a value of $157,484.5 million by 2030, progressing at a rate of 7.3% from 2021 to 2030, according to a recent report by market research company P&S Intelligence.

North America Is Generating Highest Revenue

In 2021, North America held the largest revenue share, of approximately 50%. This dominance can be credited to the rising prevalence of sleep-related disorders and several initiatives by non-government and government organizations to spread awareness about sleep hygiene and associated disorders.

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In 2021, the size of the APAC industry was $15 billion, and it is projected to grow at the highest rate in the years to come. Several sleeping disorders, such as sleep apnea, sleepwalking, narcolepsy, insomnia, and restless legs syndrome, need intervention to avoid serious damage to overall health.

Majorly, the revenue of the industry is growing in APAC because of the high consumption of sleeping pills, due to the changing lifestyles, long working hours, stress, and rising awareness about sleep disorders.

Wearable Monitors and Sensors Are Profitable for Market Players

The increasing acceptance of wearable monitoring and sensing devices is driving the industry. Such devices support in transmitting and recording data related to several physiological conditions, for measuring and monitoring sleep quality.

Some of the wearable sensors and monitors are BioHarness by BIOPAC Systems Inc., LifeVest by ZOLL Medical Corporation, Zio XT by iRhythm Technologies Inc., LifeShirt by Aegis Limited, and Sense Wear Armband by Jawbone.

Moreover, these devices are user-friendly, which is why they are becoming increasingly popular among people suffering from insomnia. Thus, with the increasing use of these instruments to monitor sleep quality, the requirement for sleeping aids will grow.

Growing Dependence on Mattresses and Pillows 

In 2021, the mattresses and pillows category had the largest revenue share, of over 40%. The availability of a wide range of international and local mattress and pillow brands makes these products economical, thus boosting their acceptance among people.

Browse detailed report on Sleeping Aids Market Size, Share, Growth and Demand Forecast to 2030

The market for products supporting people with sleep disorders is booming at a high rate in China, mainly because of youngsters looking to enhance the quality and quantity of their sleep. This is contributing to the growth in the sale of obstructive sleep apnea devices, smart mattresses, and melatonin.

Moreover, since, in China, a large number of people are plagued by sleep disorders, companies, including Xilinmen and Xiaomi, are spending more on R&D to provide better products.

Sleeping Aids Market Report Coverage

By Offering

• Mattresses and Pillows
• Sleep Laboratory Services
• Medication
• Prescription drugs
• Over-the-counter drugs
• Herbal remedies
• Sleep Apnea Devices
• Positive airway pressure devices
• Facial interface
• Oral appliances
• Adaptive servo-ventilators

By Sleep Disorder

• Insomnia
• Sleep Apnea
• Restless Legs Syndrome
• Narcolepsy
• Sleep Walking

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia-Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa
• U.A.E.

Browse More Reports Published by P&S

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Sleep Tech Devices Market Size and Share Analysis by Product, Application, Gender, Age, Distribution Channel – Industry Growth Forecast Report 2030

Mattress Market Size and Share Analysis by Product, Size, Distribution Channel, End Use – Industry Growth Forecast Report 2030

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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SOURCE P&S Intelligence