Who are the key players in Sleep Aids Market?

Cadwell, Compumedics Limited, DeVilbiss Healthcare LLC, Merck & Co., Inc and Natus Medical Incorporated are the major companies operating in the Sleep Aids Market. Read More

Which is the fastest growing region in Sleep Aids Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Sleep Aids Market?

In 2024, the North America accounts for the largest market share in Sleep Aids Market. Read More

What years does this Sleep Aids Market cover, and what was the market size in 2023?

In 2023, the Sleep Aids Market size was estimated at USD 79.92 billion. The report covers the Sleep Aids Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Sleep Aids Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Sleep Aids Market Size

Market Size of Sleep Aids Industry

Study Period	2019 - 2029
Market Size (2024)	USD 85.84 Billion
Market Size (2029)	USD 119.66 Billion
CAGR (2024 - 2029)	6.90 %
Fastest Growing Market	Asia-Pacific
Largest Market	North America
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

Sleep Aids Market Analysis

The Sleep Aids Market size is estimated at USD 85.84 billion in 2024, and is expected to reach USD 119.66 billion by 2029, growing at a CAGR of 6.90% during the forecast period (2024-2029).

Factors such as the growing prevalence of insomnia and other disorders and the increasing adoption of sleeping aids are expected to boost the market's growth. For instance, a study published in March 2023 in the Journal of Clinical and Diagnostic Research for doctors revealed that insomnia was notably prevalent among women in urban Bengaluru, Karnataka. Factors like unemployment, being single, low socioeconomic status (SES), chronic illnesses, a history of stressful life events, financial dependence, and reliance on social assistance are significantly linked to this trend. Thus, considering such scenarios, the adoption of sleeping aids is likely to rise, leading to market growth over the forecast period.

Additionally, wearable technologies are advancing market growth by providing better technological support. For instance, in January 2023, LG Electronics announced a wireless earphone that helps users sleep comfortably using brain wave technology.

On the other hand, the article published by the American Association of Sleep Technologists (AAST) in February 2022 stated that the advantages of wearable sleep technology included the ability to record data over a prolonged length of time and the ability to gather data about a person's sleep in their natural environment. As a result, end consumers are increasingly using wearable sleep technology or devices to measure components of sleep, such as sleep/wake cycles.

Therefore, due to the abovementioned factors, the market is likely to grow in the future. However, the side effects associated with sleep medications are likely to hinder the market's growth.

Sleep Aids Industry Segmentation

As per the scope, a sleep aid is a treatment that uses devices or supplemental or herbal compounds to help induce the onset of sleep and to ensure that a patient stays asleep. Sleep aids are most popular among people who have chronic sleep disturbances, particularly insomnia.

The sleep aids market is segmented by product, sleep disorder, and geography. By product, the market is segmented into mattresses and pillows, sleep laboratory services, medication, and other products. By sleep disorder, the market is segmented into insomnia, sleep apnea, and other sleep disorders. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (USD) for the above segments.

By Product
		Mattresses and Pillows
		Sleep Laboratory Services
		Medication
		Other Products

By Sleep Disorder
		Insomnia
		Sleep Apnea
		Other Sleep Disorders

By Geography

North America
	United States
	Canada
	Mexico

Europe
	Germany
	United Kingdom
	France
	Italy
	Spain
	Rest of Europe

Asia-Pacific
	China
	Japan
	India
	Australia
	South Korea
	Rest of Asia-Pacific

Middle East and Africa
	GCC
	South Africa
	Rest of Middle East and Africa

South America
	Brazil
	Argentina
	Rest of South America

Need A Different Region Or Segment?

Customize Now

Sleep Aids Market Size Summary

The Sleep Aids Market is poised for significant growth over the forecast period, driven by the increasing prevalence of insomnia and related sleep disorders. The market is experiencing a surge in the adoption of sleep aids, including wearable technologies that offer advanced technological support. These innovations, such as LG Electronics' brain wave technology-enabled earphones, are enhancing the consumer experience by providing better sleep quality and data collection capabilities. The growing focus on research and development, along with strategic initiatives by market players, is further propelling the market forward. However, the potential side effects associated with sleep medications may pose challenges to market expansion.

North America is expected to maintain a substantial market share, fueled by the rising incidence of insomnia linked to conditions like depression and anxiety, as well as technological advancements and regulatory approvals for new products. The region's market growth is supported by the launch of innovative sleep aids, such as Sleep Habit‚Äôs digital sleep clinic and StimScience‚Äôs electronic sleep aid headband. The market is characterized by a mix of established players and emerging companies, with key players like Cadwell, Compumedics Limited, and Merck & Co., Inc. leading the charge. As these companies expand their reach into developing countries, the market is becoming increasingly fragmented yet competitive, with a focus on enhancing sleep quality through technological advancements.

Explore More

Sleep Aids Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Market Overview
2. 1.2 Market Drivers
  1. 1.2.1 Growing Prevalence of Insomnia and Other Disorders
  2. 1.2.2 Increasing Adoption of Wearable Monitors and Sensors
3. 1.3 Market Restraints
  1. 1.3.1 Side Effects Associated With Sleep Medications
4. 1.4 Porter's Five Forces Analysis
  1. 1.4.1 Threat of New Entrants
  2. 1.4.2 Bargaining Power of Buyers/Consumers
  3. 1.4.3 Bargaining Power of Suppliers
  4. 1.4.4 Threat of Substitute Products
  5. 1.4.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION (Market Size by Value - USD)
1. 2.1 By Product
  1. 2.1.1 Mattresses and Pillows
  2. 2.1.2 Sleep Laboratory Services
  3. 2.1.3 Medication
  4. 2.1.4 Other Products
2. 2.2 By Sleep Disorder
  1. 2.2.1 Insomnia
  2. 2.2.2 Sleep Apnea
  3. 2.2.3 Other Sleep Disorders
3. 2.3 By Geography
  1. 2.3.1 North America
    1. 2.3.1.1 United States
    2. 2.3.1.2 Canada
    3. 2.3.1.3 Mexico
  2. 2.3.2 Europe
    1. 2.3.2.1 Germany
    2. 2.3.2.2 United Kingdom
    3. 2.3.2.3 France
    4. 2.3.2.4 Italy
    5. 2.3.2.5 Spain
    6. 2.3.2.6 Rest of Europe
  3. 2.3.3 Asia-Pacific
    1. 2.3.3.1 China
    2. 2.3.3.2 Japan
    3. 2.3.3.3 India
    4. 2.3.3.4 Australia
    5. 2.3.3.5 South Korea
    6. 2.3.3.6 Rest of Asia-Pacific
  4. 2.3.4 Middle East and Africa
    1. 2.3.4.1 GCC
    2. 2.3.4.2 South Africa
    3. 2.3.4.3 Rest of Middle East and Africa
  5. 2.3.5 South America
    1. 2.3.5.1 Brazil
    2. 2.3.5.2 Argentina
    3. 2.3.5.3 Rest of South America