The global sleep aid devices industry size is on a trajectory for substantial growth, with projections estimating its worth to reach approximately US$ 68,354.36 million in 2022 and an impressive US$ 133,211.98 million by 2032. This exponential expansion is expected to occur at a remarkable Compound Annual Growth Rate (CAGR) of 6.9% from 2022 to 2032.
The surging demand for sleep aid devices can be attributed to the escalating prevalence of sleep disorders such as insomnia, obstructive sleep apnea, and central sleep apnea. Consumers are increasingly turning to alternative solutions due to the severe side effects associated with traditional sleeping sedatives, including allergies, hypnotics, hematologic reactions, and hepatotoxicity.
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Future Market Insights, a frontrunner in the sleep aid devices market, is well-positioned to capitalize on this unprecedented growth. With a commitment to innovation and customer well-being, FMI has been at the forefront of developing cutting-edge sleep aid technologies designed to address the diverse needs of individuals seeking a more natural and side-effect-free solution for their sleep-related issues.
“We are excited about the immense potential for growth in the sleep aid devices market,” said Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.). “Our dedication to research and development, coupled with a customer-centric approach, positions us as a leader in providing effective, non-invasive solutions for a wide range of sleep disorders. As the market expands, we are confident in our ability to meet the increasing demand and make a positive impact on the well-being of individuals worldwide.”
Future Market Insights innovative sleep aid devices leverage advanced technologies to offer a holistic approach to sleep improvement, catering to both medical and lifestyle needs. The company’s products have gained widespread recognition for their efficacy, safety, and user-friendly design, making them a preferred choice for those seeking alternatives to traditional sleeping pills.
With the global sleep aid devices industry poised for significant growth, FMI remains committed to pioneering advancements that enhance the quality of sleep for individuals across the globe. As the market continues to evolve, FMI stands ready to lead the way, providing innovative solutions that address the growing demand for effective, side-effect-free sleep aids.
Proclivity for Smoke and Alcohol Drives the Sales of Sleep Aid Devices at the Global Level:
The growing elderly population and sleep issues linked to this demographic have increased demand for sleep aids. The growing use of sleep aid devices is also a result of an increase in sedentary lifestyles and comorbidities such atherosclerosis, type 2 diabetes, obesity, heart disease, and stroke. The global propensity of adults for drinking, using drugs, and smoking has been a major driver in the market expansion for sleep aids.
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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
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.
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Key Segments of Sleep Aid Devices Market:
By Product Type:
Positive Air Pressure Devices
- Continuous Positive Air Pressure Devices (CPAP)
- Bi-level Positive Airway Pressure Devices (Bi-PAP)
- Automatic Positive Airway Pressure Devices (APAP)
Adaptive Servo Ventilation (ASV) Devices
Smart Sleeping Equipment
- Smart Mattress and Pillows
- Smart Beds
- Smart Motion Bases
- Smart Sleep Lights
- Temperate Controlled Headbands
- Contactless Sleep Trackers
- Sound Conditioners
- On-Ear Sleep Headphones
- Smart Sleep Glasses
- Cranial Electrical Stimulators
- Smart Eye Masks
Other Sleep Solutions
- Sleep Aid Chin Straps
- Anti-Snoring Mouthpiece and Nasal Devices
- Others
By Indication:
- Insomnia
- Sleep Apnea
- Restless Legs Syndrome
- Narcolepsy
- Sleep Deprivation
By End User:
- Hospitals
- Sleep Clinics/Centers
- Home Care Settings
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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