The global Sleep Aids Market Growth Accelerated by Rising Prevalence of Sleep Disorders


 Sleep aids or sleep aid devices are products that are used to induce or improve the quality of sleep. They include medications, supplements, and devices that help in falling asleep faster, sleeping through the night, or waking up refreshed. The demand for sleep aids has grown significantly owing to rising prevalence of sleep disorders and other medical conditions affecting sleep cycles such as insomnia, sleep apnea, restless leg syndrome, and circadian rhythm disorders.

The global Sleep Aids Market is estimated to be valued at US$ 73.9 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Technology advancements in sleep aids have emerged as a key trend in the market. Growing preference for non-drug therapeutic options for insomnia and other sleep disorders has fuelled the demand for innovative digital and wearable sleep aid devices. Companies are investing in developing smart sleep devices equipped with advanced sensors that can track sleep patterns, heart rate, breathing cycles etc. and provide data-driven insights about sleep quality. Integration of artificial intelligence (AI) for personalized monitoring and alerts is further enhancing the therapeutic effectiveness of smart sleep devices. Growing preference for non-invasive, low-risk and affordable sleep aid devices driven by technology advancements is expected to drive the growth of the sleep aids market during the forecast period.

Segment Analysis
The global sleep aids market is dominated by the pharmaceutical sub segment. This is because pharmaceutical sleep aids such as sleep medicines offer effective treatment for sleep disorders like insomnia. These medicines contain active pharmaceutical ingredients that help induce sleep, reducing sleep onset latency and increasing total sleep time.

Key Takeaways
The global sleep aids market is expected to witness high growth. The global Sleep Aids Market is estimated to be valued at US$ 73.9 Bn in 2024 and is expected to exhibit a CAGR of 8.1% over the forecast period 2024 to 2031.

North America region currently dominates the global market due to high awareness about sleep disorders and availability of effective pharmaceutical drugs for treatment. Europe market is also growing at a steady pace supported by increasing geriatric population suffering from sleep problems in countries like Germany, Italy and the UK.

Key players operating in the sleep aids market are Sanofi, Merck & Co. These players are focused on developing novel formulations with minimal side effects to expand consumer base. They are also investing in R&D of herbal and alternative products to target customers looking for natural remedies. Collaboration with online retailers is another focus area for leveraging e-commerce channels.

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