Awakening the Industry: Sleep Aids Market Shows Steady Expansion at 6.9% CAGR by 2032 | FMI Report

Quality sleep has become a luxury for many people in today’s fast-paced society. A thriving Sleep Aid Devices Market has been made possible by the rising prevalence of sleep problems and the growing understanding of the value of getting enough sleep. These cutting-edge devices provide a variety of options for assisting people in getting a good night’s sleep and waking up feeling rested.

The increasing prevalence of sleep disorders such insomnia, sleep apnea, and restless leg syndrome is one of the major factors driving the market for sleep help devices. These disorders have major ramifications for people’s bodily and mental health in addition to having an impact on their general well-being. Devices for promoting sleep, including as wearable trackers, smart pillows, white noise generators, and aromatherapy units, have become increasingly popular as non-invasive, drug-free alternatives to deal with various sleep-related problems.

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According to projections, the market for sleep aids will be worth roughly US$ 68354.36 million in 2022 and US$133211.98 million by 2032. The market is anticipated to expand at a 6.9% CAGR from 2022 to 2032.

The market for sleep aids has undergone a revolution thanks to technological advances. Wearable sleep trackers, for instance, track heart rate, breathing patterns, and sleep patterns to provide important insights into sleep quality. Smart pillows are intended to recognise and adapt to a person’s sleeping posture to ensure maximum comfort. White noise devices hide disturbing noises to produce a calming atmosphere that encourages sounder sleep. Additionally, aromatherapy equipment makes use of essential oils known for their relaxing effects, which improves sleep quality and relaxation.

With a wide range of alternatives, the global market for sleep assistance devices is expanding significantly. Due to the high prevalence of sleep disorders and the existence of significant market participants, North America and Europe are the main geographical regions. However, as people become more aware of the importance of sleep health, the industry is also growing quickly in emerging economies.

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

• 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.

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

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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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