The latest research report by Emergen Research, named ‘Global Sleep Economy or Sleep Aids Market - Forecast to 2032’, entails a comprehensive review of the global Sleep Economy or Sleep Aids Market’s present and future trends. The report gathers viable information on the most established industry players, sales and distribution channels, regional spectrum, estimated market share and size, and revenue estimations over the forecast timeframe. The study is inclusive of a profound analysis of this business sphere focuses on the overall remuneration of the market over the projected period. The study also includes significant information pertinent to the Sleep Economy or Sleep Aids Market industry, particularly the current COVID-19 scenario.
In recent years, the sleep industry has witnessed a remarkable surge, giving rise to what is now known as the sleep economy. As people become increasingly aware of the importance of a good night's sleep, the demand for sleep aids and related products has skyrocketed. This burgeoning market offers a wide range of solutions to help individuals achieve better sleep, from innovative technologies to traditional remedies. Let's delve into the overview, drivers, restraints, and some statistics from government organizations that shed light on this thriving industry.
The sleep economy encompasses various sectors, including sleep aids, sleep technology, sleep clinics, and sleep-related services. Sleep aids, such as over-the-counter medications, herbal supplements, and sleep-inducing devices, have become increasingly popular among individuals struggling with sleep disorders or seeking to improve their sleep quality. Additionally, the advent of sleep technology, such as smart mattresses, sleep trackers, and wearable devices, has revolutionized the way people monitor and optimize their sleep patterns.
The global sleep economy or sleep aids market size was USD 512.80 Billion in 2022 and is expected to register a revenue CAGR of 6.3% during the forecast period, according to latest analysis by Emergen Research. Several factors contribute to the rapid growth of the sleep economy. Firstly, the increasing prevalence of sleep disorders, such as insomnia, sleep apnea, and restless leg syndrome, has propelled the demand for sleep aids. According to the Centers for Disease Control and Prevention (CDC), approximately 50-70 million adults in the United States suffer from sleep disorders, highlighting the vast market potential for sleep-related products and services.
Moreover, the growing awareness of the detrimental effects of sleep deprivation on overall health and well-being has prompted individuals to seek effective solutions. Sleep aids offer a convenient and accessible means to address sleep-related issues, providing relief from insomnia symptoms and promoting restful sleep. As a result, the sleep economy has witnessed a surge in demand, with consumers actively seeking products that can enhance their sleep quality.
However, despite the promising growth prospects, the sleep economy faces certain restraints. One significant challenge is the lack of regulation and standardization in the sleep aids market. With numerous products flooding the market, consumers often find it challenging to navigate through the vast array of options and identify reliable and effective sleep aids. This lack of regulation not only poses potential health risks but also hampers the growth of the industry.
To address these concerns, government organizations have taken steps to monitor and regulate the sleep economy. For instance, the Food and Drug Administration (FDA) in the United States has implemented guidelines for the safety and efficacy of sleep aids, ensuring that manufacturers adhere to stringent quality standards. Additionally, the National Institutes of Health (NIH) has been actively funding research to better understand sleep disorders and develop innovative solutions.
Key players in the market GlaxoSmithKline Plc., Merck KGaA, Amazon.com, Inc., Idorsia Pharmaceuticals Ltd., Koninklijke Philips N.V., SlimScience, BAYER AG, THE SLEEP COMPANY, Eisai Co., Ltd, and ResMed
The Global Sleep Economy or Sleep Aids Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length.
Market Overview:
The report bifurcates the Sleep Economy or Sleep Aids market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Our experienced market research team has provided updated information on the ongoing COVID-19 pandemic and its adverse economic impact in the latter segment of the report. The coronavirus outbreak has led to drastic changes in the current Sleep Economy or Sleep Aids Market business landscape, limiting the growth opportunities for various manufacturers and buyers for the next few years. Besides making speculations about the market’s post-COVID-19 scenario, the report discusses its existing situation.
Segments Covered in this report are:
Product Type Outlook (Revenue, USD Billion; 2019-2032)
Sleep Products
Mattresses and Bedding
Pillows and Cushions
Sleepwear and Pajamas
Blankets and Comforters
Sleep Accessories
Sleep Medications and Supplements
Prescription-based Drugs
Benzodiazepines
Non-benzodiazepines (e.g., Zolpidem, Eszopiclone)
Orexin Receptor Antagonists (e.g., Suvorexant)
OTC Drugs
Herbal Drugs
Sleep Technology
Sleep Trackers and Wearables
Sleep Sound Machines
Light Therapy Devices
Sleep Apnea Devices
Positive Airway Pressure (PAP) Devices
Facial Interfaces
Oral Appliances
Adaptive Servo-Ventilators (ASVs)
Others
Sleep Services
Sleep Clinics and Diagnostic Centers
Sleep Coaching and Therapy
Sleep Retreats and Wellness Programs
Sleep Consultations & Telemedicine
Sleep Disorder Outlook (Revenue, USD Billion; 2019-2032)
Insomnia
Sleep Apnea
Restless Legs Syndrome
Narcolepsy
Parasomnia
Others
Distribution Channel Outlook (Revenue, USD Billion; 2019-2032)
Retail Pharmacies
Online Platforms
Supermarkets and Hypermarkets
Convenience Stores
Regional Analysis of the Sleep Economy or Sleep Aids Market :
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
What is the growth rate of the Sleep Economy or Sleep Aids Market ? What is the anticipated market valuation of Sleep Economy or Sleep Aids Market industry by 2032?
What are the key growth driving and restraining factors of the Sleep Economy or Sleep Aids Market ?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Sleep Economy or Sleep Aids Market industry over the forecast period?
Which region is expected to show significant growth in the coming years?
TOC of the global Sleep Economy or Sleep Aids Market report:
Chapter 1, describes the Sleep Economy or Sleep Aids Market Introduction, market overview, product offerings, growth opportunities, market risks, driving forces, and challenges.
Chapter 2, analyzes the key manufacturers of Sleep Economy or Sleep Aids Market , along with the sales, revenue, and price of Sleep Economy or Sleep Aids Market , in the forecast period.
Chapter 3, studies the competitive situation among the major manufacturers and vendors, with sales, revenue, and market share.
Chapter 4, analyzes the global market by regions, with sales, revenue, and market share of Sleep Economy or Sleep Aids Market, for each region, from 2020 to 2032.
Chapters 5, 6, 7, 8 and 9, analyze the Sleep Economy or Sleep Aids Market by type, application, regions, and manufacturers, with sales, revenue, and market share by key countries in these regions…Continued
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