Global sleeping aids market report published by Accurize Market Research forecast that the global market is expected to reach $96 billion by 2024; growing at a CAGR of 6.2% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.

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The upsurge in demand for sleeping pills and changing consumers’ lifestyle to drive the growth of the market

The upsurge in demand for sleeping pills, changing consumers’ lifestyle, increase in the geriatric and obese population, and increasing disposable income fuels the demand for the global sleeping aids market. Moreover, growing awareness about sleeping ailments and advanced technologies also boosts the growth of the market.

Market Segmentation

The global sleeping aids market has been bifurcated on the basis of product, sleep disorder, and geography. The sleeping aids market is segmented by product as mattresses and pillows, sleep laboratories, medication (prescription based drugs, herbal drugs, OTC drugs), sleep apnea devices, and others. Further, the market is segmented by sleep disorders like insomnia, sleep apnea, restless legs syndrome, narcolepsy, sleepwalking, and other sleep disorders.

By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated in the U.S., Canada, and Mexico whereas Europe segment consists of the UK, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, South Korea, and others while RoW is bifurcated into South America, the Middle East, and Africa.

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“Mattresses & pillows accounted the largest market share in the product segment", says Accurize

By product segment, mattresses & pillows held the major market share in 2017, followed by sleep laboratories. Additionally, my the sleep disorder segment, insomnia held the largest market share in 2017, followed by sleep apnea.

“North America dominated the global market with the highest market share over the forecast period", says Accurize

In 2017, North America accounted for the largest market share. Moreover, in terms of growth, Asia-Pacific is anticipated to grow with the fastest CAGR of 7.9% during the forecast period 2017 to 2025, driven by rising geriatric population and an increase in demand for sleeping pills.

Top players in the market

The key market players include Takeda Pharmaceutical Company Limited, Merck And Co., Sanofi, GlaxoSmithKline Plc., Serta International, Natus Medical Incorporated, Teva Pharmaceutical Industries Limited, CareFusion Corporation, Pfizer, and Compumedics Limited among others.