Sleep aids are drugs and medical devices that help a person to fall asleep. Lack of quality sleep leads to a medical condition known as a sleep disorder.
New York City, NY -- (SBWIRE) -- 12/19/2016 -- The global sleep aids market was valued at US$ 58.1 Bn in 2014 and is expected to expand at a CAGR of 5.7% to account for US$80.8 Bn by 2020.
Sleep aids are drugs and medical devices that help a person to fall asleep. Lack of quality sleep leads to a medical condition known as a sleep disorder. Sleep disorder occurs due to changes in sleeping pattern of a person which can be caused by physical disturbances, medical issues, psychiatric problems, and environmental issues.
Globally, the sleep aids market is witnessing significant growth due to rising incidence of sleep disorders due to growing geriatric population, increasing demand for sleeping pills due to stressful modern lifestyle and rising initiatives by various health organizations to increase awareness about sleep disorders. However, factors such as side effects associated with sleep aids medications and patent expiration of major sleep drugs are key restraints for the growth of the global sleep aids market. The global sleep aids market was valued at US$ 58.1 Bn in 2014 and expected to account for US$ 80.8 Bn by 2020 at a CAGR of 5.7%.
North America has the largest market for the global Sleep Aids market. This is due to technological advancements in the region. The North American sleep aids market was valued at US$ 31.9 Bn in 2014 and is expected to account for US$ 44.5 Bn by 2020 at a CAGR of 5.7%. In terms of sleep disorders, sleep apnea is the fastest growing segment. In terms of product, mattresses and pillows are the largest segments in the sleep aids market. In terms of medication, prescription medications are the largest segment in the market.
Some of the latest trends in the global sleep aids market are increasing usage of home sleep test for diagnosis of sleep apnea, continuous positive airway pressure (CPAP) therapy to treat sleep apnea, and growing adoption of wearable monitors and passive-off body sensors.
Request to view Table of Content @ http://www.persistencemarketresearch.com/market-research/sleep-aids-market/toc
Sanofi, Merck & Co., Pfizer, Koninklijke Philips N.V. (Philips), GlaxoSmithKline Plc, Takeda Pharmaceutical Company Limited, Care Fusion Corporation, Teva Pharmaceutical Industries Ltd. are some of the leading players in the global market for Sleep Aids market. Some of the other major players in Sleep Aids market are; Cadwell, SleepMed, Inc, Natus Medical manufactures, DeVilbiss Healthcare LLC, and Compumedics Limited.
To Purchase Single User License @ http://www.persistencemarketresearch.com/checkout/2832
The global sleep aids market is segmented as follows:
By Sleep Disorder
- Sleep Apnea
- Restless Legs Syndrome
- Sleep Walking
- Mattresses and pillows
- Sleep laboratories
- Sleep apnea devices
- Prescription-based drugs
- OTC drugs
- Herbal drugs
- North America
About Persistence Market Research
Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
PMR stands committed to bringing more accuracy and speed to clients' business decisions. From ready-to-purchase market research reports to customized research solutions, PMR's engagement models are highly flexible without compromising on its deep-seated research values.