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(Medical-NewsWire.com, August 31, 2017 ) The market is showcasing evident potential in the mentioned forecast period. The Sleep Aids market size is increasing, due to the rising geriatric population and increasing sense of awareness among various organizations about sleep disorders. With increasing number of professionals working in night shifts rescheduling their sleeping time, sleeping aids are likely to gain traction in the next few years.
Global Sleep Aids Market was worth $59.6 billion in 2016 and estimated to be growing at a CAGR of 6.32%, to reach $83.8 billion by 2021
Browse market data tables and in-depth TOC of the Global Sleep Aids Market to 2021 @ <||>rnhttp://www.marketdataforecast.com/market-reports/global-sleep-aids-market-1790/
Sleep Aids are medical devices or drugs that help a person to fall asleep. Lack of proper sleep cycle, termed as sleep disorders have adverse effects on one’s health and work life. Sleep Disorders are generally a result of changes in sleeping patterns caused by psychiatric problems, medical issues, and environmental issues.
The increased usage of caffeine, alcohol and tobacco has been leading to sleep disorders in the population. This has been one of the major factors driving the growth of sleep aids market. Further, Increased demand for sleeping pills as a result of stressful modern lifestyle, sleep disorder awareness initiative by various organization have also contributed in the rapid growth of the market. Apart from the drivers, the sleep aids market also faces some challenges and restraints which include, side effects associated with sleeping aids medications and patent expiration of treatment pills for sleep disorders.
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The Global sleep aids market is segmented on the basis of Sleep disorders, Products and Medication types. Based on sleep disorder the sleep aids market is segmented under Insomnia, Sleep Apnea, Restless legs syndrome, Narcolepsy and Sleep walking. By product the market is segmented into Mattresses & Pillows, Sleep Laboratories, Medication and Sleep apnea devices. On the basis of Medication types the segmentation is done under Prescription-based Drugs, OTC drugs and Herbal Drugs. Sleep apnea remains to be the fastest growing segment compared to other sleep disorders, whereas Mattresses and pillows are expected to continue leading the sleep aids market in coming years. On the basis of medication type, prescription medications hold the largest share in the market.
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On the basis of geographical analysis, the global sleep aids market is segmented under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Sleep Aids market was dominated by North America, with the overall market share of over 50% globally. North America was followed by Europe and Asia-Pacific. Asia Pacific is expected to exhibit a CAGR of almost 6.9% against North America’s CAGR of 5.9% over the coming years.
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