Surging Adoption of Unhealthy Lifestyle Propels Demand for Sleeping Aids

In 2021, the sleeping aids market had a total size of $83,619.7 million, and it will reach a value of $157,484.5 million by 2030, progressing at a rate of 7.3% from 2021 to 2030, according to a recent report by market research company P&S Intelligence.

North America Is Generating Highest Revenue

In 2021, North America held the largest revenue share, of approximately 50%. This dominance can be credited to the rising prevalence of sleep-related disorders and several initiatives by non-government and government organizations to spread awareness about sleep hygiene and associated disorders.

In 2021, the size of the APAC industry was $15 billion, and it is projected to grow at the highest rate in the years to come. Several sleeping disorders, such as sleep apnea, sleepwalking, narcolepsy, insomnia, and restless legs syndrome, need intervention to avoid serious damage to overall health.

Majorly, the revenue of the industry is growing in APAC because of the high consumption of sleeping pills, due to the changing lifestyles, long working hours, stress, and rising awareness about sleep disorders.

Wearable Monitors and Sensors Are Profitable for Market Players

The increasing acceptance of wearable monitoring and sensing devices is driving the industry. Such devices support in transmitting and recording data related to several physiological conditions, for measuring and monitoring sleep quality.

Some of the wearable sensors and monitors are BioHarness by BIOPAC Systems Inc., LifeVest by ZOLL Medical Corporation, Zio XT by iRhythm Technologies Inc., LifeShirt by Aegis Limited, and Sense Wear Armband by Jawbone.

Moreover, these devices are user-friendly, which is why they are becoming increasingly popular among people suffering from insomnia. Thus, with the increasing use of these instruments to monitor sleep quality, the requirement for sleeping aids will grow.

ReportDescription:https://www.psmarketresearch.com/market-analysis/sleeping-aids-market

Growing Dependence on Mattresses and Pillows 

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In 2021, the mattresses and pillows category had the largest revenue share, of over 40%. The availability of a wide range of international and local mattress and pillow brands makes these products economical, thus boosting their acceptance among people.

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The market for products supporting people with sleep disorders is booming at a high rate in China, mainly because of youngsters looking to enhance the quality and quantity of their sleep. This is contributing to the growth in the sale of obstructive sleep apnea devices, smart mattresses, and melatonin.

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Moreover, since, in China, a large number of people are plagued by sleep disorders, companies, including Xilinmen and Xiaomi, are spending more on R&D to provide better products.

SOURCE: P&S Intelligence

Specialized in trend analysis segmentation and strategic recommendations to drive business growth.