The global sleep economy or sleep aids market size was estimated to be USD 546.67 billion in 2023 and is expected to reach at USD 1,089.49 billion by 2034 with a CAGR of 6.47% during the forecast period 2024-2034. Rising prevalence of sleep disorder & insomnia, surge in technological advancements of sleep aids products, increasing adoption of wearable monitors & sensors, growing technological advancements, rising demand for remote patient monitoring, surge in research & development activities, and increasing focus on development of wearable technologies are some of the key factors boosting the market growth.
Increasing focus on development of wearable technologies is predicted to grow at fastest CAGR during the forecast period. The lack of sleep is becoming a major issue with substantial negative effects on human health and wellbeing, which is driving up demand for sleep aids. Presently wearables and applications are designed to help users in getting an adequate amount of sleep. For instance, in January 2023, LG Electronics unveiled wireless earphones that utilize brain wave technology to enhance users' comfort during sleep.
By product, mattress & pillows was the highest revenue-grossing segment in the global sleep economy or sleep aids market in 2023 owing to the growing adoption of sleep aid devices, surge in prevalence of sleep disorders such as insomnia, rising launch of advanced & effective products. Additionally, sleep apnea devices is predicted to grow at fastest CAGR during the forecast period owing to the rising adoption of remote patient monitoring, growing demand for wearable devices, increasing technological advancements in the sleep aid devices, and surge in launch of innovative products. For instance, in May 2022, StimScience has introduced a consumer support product called Somnee, which is the world's inaugural electronic sleep aid headband employing personalized non-invasive brain stimulation to enhance the sleep quality of the user.
By sleep disorders, insomnia was the highest revenue-grossing segment in the global sleep economy or sleep aids market in 2023 owing to surge in strategic initiatives by the market players, increasing focus on the research & development of sleeping aid systems for sleep disorders, growing patient population suffering from insomnia, and rising product launches. For instance, in February 2022, Signifier Medical Technologies introduced eXciteOSA as a solution for snoring and the treatment of sleep apnea. The Food and Drug Administration (FDA) has granted approval for its use in adults aged 18 years and older, specifically for primary snoring and mild obstructive sleep apnea (OSA). Additionally, sleep apnea is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of sleep apnea, rising healthcare awareness, increasing geriatric population, and surge in population's decline in physical activity.
By end-user, hospitals was the highest revenue-grossing segment in the global sleep economy or sleep aids market in 2023 owing to the rising number of patients suffering from sleep disorders, growing demand for technologically advanced devices by healthcare professionals for the treatment of sleep disorders. Additionally, clinics is predicted to grow at fastest CAGR during the forecast period owing to the rising adoption of advanced devices, and surge in launch of novel products. For instance, in June 2022, Sleep Habit has unveiled Sleep Reset, which is a digital and customized sleep clinic offering a solution for identifying and tackling the underlying causes of sleep problems. This is made possible through its iPhone and Android apps, which employ clinically proven methods.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in prevalence of sleep disorders such as insomnia & sleep apnea, rising investment by governments in the healthcare system, and growing initiatives by market players. For instance, in May 2022, The Sleepio app, created by Big Health Ltd., has obtained approval from the National Institute for Health and Care Excellence (NICE) as a recommended treatment for insomnia. Sleepio is a secure and efficient solution for individuals experiencing insomnia. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing demand for sleep aid devices, increasing research & development activities, surge in technological advancements, rising improvements in healthcare infrastructure, and growing launch of new products. For instance, in January 2023, Vicks ZzzQuil NATURA, a melatonin sleep aid, is the newest product to join the House of Vicks in India, according to Procter & Gamble (P&G) India. It is a non-addictive sleep aid appropriate for sporadic insomnia without tiredness the next day.
Increasing focus on development of wearable technologies is predicted to grow at fastest CAGR during the forecast period. The lack of sleep is becoming a major issue with substantial negative effects on human health and wellbeing, which is driving up demand for sleep aids. Presently wearables and applications are designed to help users in getting an adequate amount of sleep. For instance, in January 2023, LG Electronics unveiled wireless earphones that utilize brain wave technology to enhance users' comfort during sleep.
By product, mattress & pillows was the highest revenue-grossing segment in the global sleep economy or sleep aids market in 2023 owing to the growing adoption of sleep aid devices, surge in prevalence of sleep disorders such as insomnia, rising launch of advanced & effective products. Additionally, sleep apnea devices is predicted to grow at fastest CAGR during the forecast period owing to the rising adoption of remote patient monitoring, growing demand for wearable devices, increasing technological advancements in the sleep aid devices, and surge in launch of innovative products. For instance, in May 2022, StimScience has introduced a consumer support product called Somnee, which is the world's inaugural electronic sleep aid headband employing personalized non-invasive brain stimulation to enhance the sleep quality of the user.
By sleep disorders, insomnia was the highest revenue-grossing segment in the global sleep economy or sleep aids market in 2023 owing to surge in strategic initiatives by the market players, increasing focus on the research & development of sleeping aid systems for sleep disorders, growing patient population suffering from insomnia, and rising product launches. For instance, in February 2022, Signifier Medical Technologies introduced eXciteOSA as a solution for snoring and the treatment of sleep apnea. The Food and Drug Administration (FDA) has granted approval for its use in adults aged 18 years and older, specifically for primary snoring and mild obstructive sleep apnea (OSA). Additionally, sleep apnea is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of sleep apnea, rising healthcare awareness, increasing geriatric population, and surge in population's decline in physical activity.
By end-user, hospitals was the highest revenue-grossing segment in the global sleep economy or sleep aids market in 2023 owing to the rising number of patients suffering from sleep disorders, growing demand for technologically advanced devices by healthcare professionals for the treatment of sleep disorders. Additionally, clinics is predicted to grow at fastest CAGR during the forecast period owing to the rising adoption of advanced devices, and surge in launch of novel products. For instance, in June 2022, Sleep Habit has unveiled Sleep Reset, which is a digital and customized sleep clinic offering a solution for identifying and tackling the underlying causes of sleep problems. This is made possible through its iPhone and Android apps, which employ clinically proven methods.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in prevalence of sleep disorders such as insomnia & sleep apnea, rising investment by governments in the healthcare system, and growing initiatives by market players. For instance, in May 2022, The Sleepio app, created by Big Health Ltd., has obtained approval from the National Institute for Health and Care Excellence (NICE) as a recommended treatment for insomnia. Sleepio is a secure and efficient solution for individuals experiencing insomnia. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing demand for sleep aid devices, increasing research & development activities, surge in technological advancements, rising improvements in healthcare infrastructure, and growing launch of new products. For instance, in January 2023, Vicks ZzzQuil NATURA, a melatonin sleep aid, is the newest product to join the House of Vicks in India, according to Procter & Gamble (P&G) India. It is a non-addictive sleep aid appropriate for sporadic insomnia without tiredness the next day.
Segmentation: Sleep Economy or Sleep Aids Market Report 2022 - 2033
Sleep Economy or Sleep Aids Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Sleep Laboratories
- Medications
- Mattresses & Pillows
- Sleep Apnea Devices
Sleep Economy or Sleep Aids Market Analysis & Forecast by Sleep Disorders 2023 - 2034 (Revenue USD Bn)
- Restless Leg Syndrome
- Insomnia
- Sleepwalking
- Sleep Apnea
- Narcolepsy
- Others
Sleep Economy or Sleep Aids Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Clinics
- Others
Sleep Economy or Sleep Aids Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Sleep Economy or Sleep Aids Market: Product Estimates & Trend Analysis
8. Sleep Economy or Sleep Aids Market: Sleep Disorders Estimates & Trend Analysis
9. Sleep Economy or Sleep Aids Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Sleep Economy or Sleep Aids Market
12. Europe Global Sleep Economy or Sleep Aids Market
13. Asia Pacific Global Sleep Economy or Sleep Aids Market
14. Latin America Global Sleep Economy or Sleep Aids Market
15. MEA Global Sleep Economy or Sleep Aids Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Merck KGaA
- Cadwell Industries Inc.
- Amazon.com Inc.
- Compumedics Limited
- Idorsia Pharmaceuticals Ltd.
- Drive DeVilbiss Healthcare Inc.
- Koninklijke Philips N.V.
- Natus Medical Inc.
- SlimScience
- PFIZER Inc.
- BAYER AG
- Sanofi S.A.
- THE SLEEP COMPANY
- SleepMed Inc.
- ResMed
- GlaxoSmithKline Plc.
- Eisai Co. Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | October 2023 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 546.67 Billion |
| Forecasted Market Value ( USD | $ 1089.49 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 17 |
