The Global Sleep Aids Market Growth Accelerated By The Rising Demand For Sleep Disorders Treatments

Sleep aids are designed to help induce sleep or reduce unwanted awakenings during the sleeping period. Key products include mattresses, pillows, blankets & bed sheets, sleep medications, and sleep wear. Growing awareness of the importance of sound sleep for overall health and well-being has boosted demand for effective sleep aids.

The global Sleep Aids Market is estimated to be valued at US$ 73350.49 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The rising demand for sleep disorders treatments is one of the key trends driving market growth. The prevalence of sleep disorders has increased significantly in recent years due to changing lifestyles and increasing stress levels. Insufficient sleep can impair brain and body functioning and increase the risk of serious medical conditions. With growing recognition of the health impacts of poor sleep, more people are seeking professional help for sleep disorders. This is fueling the demand for a wide range of sleep aids, including both pharmaceutical and natural products. Companies are also developing novel sleep aids with improved effectiveness and minimal side effects to cater to this rising demand.

Segment Analysis
The global sleep aids market is dominated by the OTC sub segment. Sleeping aids available over the counter holds the largest market share as many people are inclined towards self-medication and preferring natural remedies to help them sleep better. OTC sleep aids include melatonin, valerian root, chamomile etc. which are easily available without a prescription.

Key Takeaways

The Global Sleep Aids Market Growth is estimated to be valued at US$ 73350.49 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030.

The global sleep aids market is expected to witness high growth over the forecast period. The North America region currently dominates the sleep aids market owing to higher awareness regarding sleep disorders and easy availability of prescription drugs and OTC supplements. Key players like Domtar Corporation, Medline Industries Inc. etc. have a strong presence in the region contributing to its large market share. The United States accounts for the major share due to frequent insomniac patient pool seeking alternative treatments.

Key players
Key players operating in the sleep aids market are Domtar Corporation, Medline Industries Inc., Cardinal Health, Attends Healthcare Products Inc., Kimberly-Clark Corporation, Dynarex Corporation, Tanga.com, Sarasota Medical, SCA, First Quality Enterprises Inc., Prevail, Cypress Medical Products LLC, Shield Healthcare LLC, 3M, McKesson Corporation, Ontex. Companies are focused on expanding their product offerings and strengthening distribution networks to cater to the growing demand.

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