Multiple government & non-government societies such as ASAA (American Sleep Apnea Association) and Circadian Sleep Disorder Networks have underpinned the growth of the sleep aid devices market by organizing various sleep cognizance programs pertaining to the importance of sound sleep. As a result, there has been a significant rise in the demand for sleep aid devices for the treatment of sleep-related disorders.
Due to the rise in sleep disorders such insomnia, obstructive sleep apnea, and central sleep apnea, there is a high need for sleep help equipment. Many now prefer sleep help devices over sleeping pills due to the severe side effects of sleeping sedatives, such as allergy, hypnotics, hematologic responses, and hepatotoxic consequences.
Due to the expanding senior population and the prevalence of insomnia in this demographic, there has been a major increase in the demand for sleep aids. Elderly people’s widespread polypharmacy and multimorbidity have a significant impact on their sleeping habits, which is further expected to fuel the expansion of sleep help devices. Together with the illnesses they induce, comorbidities including type 2 diabetes, obesity, stroke, heart disease, and atherosclerosis
Disposable income in the developing economies has been constantly increasing, which has upgraded the lifestyle of people. A sheer demand for advanced and secured sleep aid devices has been witnessed in these markets, on the back of enhanced spending capacity of the consumers. These factors have offered a lucrative growth opportunity to the manufacturers of these devices and as a result, the global sleep aid devices market is predicted to clock an impressive CAGR of over 4% by the end of 2026.
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Proclivity for Smoke and Alcohol Drives the Sales of Sleep Aid Devices at the Global Level
Increasing geriatric population and sleep disorders associated in this demography have created a robust demand for the sleep aid devices. Furthermore, a rise in the sedentary lifestyle and the comorbidities such as heart disease, obesity, stroke, type 2 diabetes, and atherosclerosis have resulted in the widespread utilization of sleep aid devices. Proclivity of adults for smoking, drug abuse, and alcohol at a global level have been a driving factor for the growth of the sleep aid devices market.
North America to Lead the Global Sleep Aid Devices Market, Europe Second Largest Market
As per the insights extracted from the descriptive study based on the sleep aid devices market, the market of Europe and North America reigns supreme on the back of reimbursement provided by the government. Moreover, a rise in the per capita medical expenditure of the consumers hailing from these regions has alongside contributed to the growth of the global sleep aid devices market.
As compared to the developed economies in North America and Europe, the sleep aid devices market in the emerging economies will witness an impressive rate of growth, on account of supportive government policies and ongoing development in the healthcare sector.
Comprehensive Look at the Competitive Landscape of the Global Sleep Aid Devices Market
Key information obtained from the market study includes an analytical view of the key players transforming the current sleep aid devices market scenario. This descriptive report highlights companies such as
- ResMed Inc.
- Sleep Number Corporation
- Koninklijke Philips N.V.
- Responsive Surface Technology LLC
- Simmons Bedding Company LLC
- Eight Sleep Inc.
- Electromedical Products International, Inc.
- Ebb Therapeutics
- Sleepace Inc.
- Kingsdown, Inc.
- Drive DeVilbiss Healthcare LLC
- SleepMed Inc.
- Cadwell Laboratories Inc.
- Teva Pharmaceutical Industries Ltd.
- Drive Medical Ltd.
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Key companies such as Tempur Sealy International, Simmons Bedding Company LLC, Sleep Number Corporation, Dreams, ResMed, and Koninklijke Philips N.V. procure a major share in the sleep aid devices market. Aforementioned manufacturers are endeavoring into developing new products for diversifying their portfolio in the sleep aid devices market. Key manufacturers of sleep aid devices market are collaborating with retailers, distributors, and local wholesalers, in order to expand their operations
Domestic companies are competing depending on their channel management and pricing of the sleep aid devices. On the other hand, key players in the sleep aid devices market are concentrating their efforts on devising effective marketing strategies in order to increase the penetration of their products.
Table Of Content
- Executive Summary
- Market Overview
- Market Analysis
- PMR Analysis and Recommendations
- Wheel of Fortune
- Market Introduction
- Market Definition
- Market Taxonomy
Sleep Aid Devices Market Opportunity Analysis
- Macro-Economic Factors
- Opportunity Analysis
Market Background
- Value Chain Analysis
- Market Dynamics
- Drivers
- Supply Side Drivers
- Demand Side Drivers
- Restraints
- Key Trends
Global Economic Outlook
- 1. Gross Domestic Product by Region & Country, 2016 – 2021
- 2. Medical Devices Sector Outlook
- Key Inclusions
- 1. Disease Epidemiology, Statistics
- 2. White Space Opportunities Narcolepsy and Obstructive Sleep Apnea Diseases
- 3. Technology Assessment
6.4. Regulatory Guidelines
6.5. Pricing Analysis
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- North America Sleep Aid Devices Market Analysis 2013–2017 and Forecast 2018–2026
- Introduction
- Historical Market Size (US$ Mn) Trend Analysis By Country, 2013–2017
- Canada
- Market Size (US$ Mn) Forecast By Country, 2018–2026
- Historical Market Value (US$ Mn) and Volume Units Trend Analysis By Product Type, 2013 – 2017
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