Global Sleeping Aids Market Set to Prosper in Future

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The increasing incidence of obstructive sleep apnea and insomnia, surging geriatric population, ballooning number of healthcare centers, and soaring policies being implemented by the governments of various countries for supporting startups are the major factors propelling the advancement of the global sleeping aids market. As a result, the market will attain a valuation of $162.5 billion in 2030, demonstrating a CAGR of 7.1% from 2020 to 2030.

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Under the offering segmentation, the sleeping aids market is divided into sleep laboratory services, sleep apnea devices, medication, mattresses and pillows, and others. Out of these, the highest market share was held by the mattresses and pillows category during 2014—2019 (historical period). Moreover, this category will dominate the market in the future years. This is ascribed to the availability of numerous pillows and mattresses, made by north contract and local manufacturing companies at affordable prices for improving the quality of sleep.

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The players operating in the sleeping aids market are rapidly developing and commercializing products in order to expand their share in the market. For example, Serta Inc., which is a subsidiary of Serta Simmons Beddling LLC, developed the iComfort Hybrid mattress collection in January 2018 in Las Vegas. This new collection is made for delivering support and cooling comfort, with the help of the TempActiv cooling features integrated in the company’s iComfort foam line and an advanced hybrid coil support system. This system consists of strategically built-in and placed coils for providing enhanced comfort, durability, and support.

Similarly, Drive DeVilbiss Healthcare launched 5 ergonomically made Comfort Touch Cushions in October 2017. These cushions consist of a knee support cushion, elevated wedge, seat cushion, heated lumbar support backrest, and neck support pillow for providing a comfortable and therapeutic experience to the customers.

Some of the prominent sleeping aids market players are Merck & Co. Inc., Sanofi, Pfizer Inc., Koninklijke Philips N.V., Natus Medical Incorporated, SleepMed Inc., Takeda Pharmaceutical Company Limited, Drive DeVilbiss Healthcare, Cadwell Industries Inc., GlaxoSmithKline plc, Fisher & Paykel Healthcare Limited, Compumedics Limited, Serta Simmons Bedding LLC, BRAEBON Medical Corporation, SomnoMed Limited, BMC Medical Co. Ltd., Löwenstein Medical GmbH & Co. KG, Tempur Sealy International Inc., and ResMed Inc.

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