In recent years, the sleep industry has witnessed a remarkable surge, giving rise to what is now known as the sleep economy. As people become increasingly aware of the importance of a good night's sleep, the demand for sleep aids and related products has skyrocketed. This burgeoning market offers a wide range of solutions to help individuals achieve better sleep, from innovative technologies to traditional remedies. Let's delve into the overview, drivers, restraints, and some statistics from government organizations that shed light on this thriving industry.

The sleep economy encompasses various sectors, including sleep aids, sleep technology, sleep clinics, and sleep-related services. Sleep aids, such as over-the-counter medications, herbal supplements, and sleep-inducing devices, have become increasingly popular among individuals struggling with sleep disorders or seeking to improve their sleep quality. Additionally, the advent of sleep technology, such as smart mattresses, sleep trackers, and wearable devices, has revolutionized the way people monitor and optimize their sleep patterns.

The global sleep economy or sleep aids market size was USD 512.80 Billion in 2022 and is expected to register a revenue CAGR of 6.3% during the forecast period, according to latest analysis by Emergen Research. Several factors contribute to the rapid growth of the sleep economy. Firstly, the increasing prevalence of sleep disorders, such as insomnia, sleep apnea, and restless leg syndrome, has propelled the demand for sleep aids. According to the Centers for Disease Control and Prevention (CDC), approximately 50-70 million adults in the United States suffer from sleep disorders, highlighting the vast market potential for sleep-related products and services.

Moreover, the growing awareness of the detrimental effects of sleep deprivation on overall health and well-being has prompted individuals to seek effective solutions. Sleep aids offer a convenient and accessible means to address sleep-related issues, providing relief from insomnia symptoms and promoting restful sleep. As a result, the sleep economy has witnessed a surge in demand, with consumers actively seeking products that can enhance their sleep quality.

However, despite the promising growth prospects, the sleep economy faces certain restraints. One significant challenge is the lack of regulation and standardization in the sleep aids market. With numerous products flooding the market, consumers often find it challenging to navigate through the vast array of options and identify reliable and effective sleep aids. This lack of regulation not only poses potential health risks but also hampers the growth of the industry.

To address these concerns, government organizations have taken steps to monitor and regulate the sleep economy. For instance, the Food and Drug Administration (FDA) in the United States has implemented guidelines for the safety and efficacy of sleep aids, ensuring that manufacturers adhere to stringent quality standards. Additionally, the National Institutes of Health (NIH) has been actively funding research to better understand sleep disorders and develop innovative solutions.

The Global Sleep Economy or Sleep Aids Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. The comprehensive analysis of the competitive landscape offers the readers a deeper understanding about the competitors.

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The global Sleep Economy or Sleep Aids market report discusses in detail the revenue and cost profit analysis of the prominent players of the market. It also focuses on the strategic initiatives taken by the companies to gain a robust footing in the market such as mergers and acquisitions, collaborations, joint ventures, partnerships, corporate and government deals, and licensing agreements, among others. It covers business overview, expansion plans, gross profit margins, revenue growth, production and manufacturing capacity, product portfolio, and financial standing of the companies. SWOT analysis and Porter’s Five Forces analysis are also covered to offer detailed analysis of the key companies operating in the market.

Top Key Players :

GlaxoSmithKline Plc., Merck KGaA, Amazon.com, Inc., Idorsia Pharmaceuticals Ltd., Koninklijke Philips N.V., SlimScience, BAYER AG, THE SLEEP COMPANY, Eisai Co., Ltd, and ResMed

Covid 19 Analysis :

The report is updated with the latest economic scenario and market scope with regard to the ongoing COVID-19 pandemic. The report covers growth prospects as well as current and futuristic revenue estimations in a post COVID scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market. The report clearly defines the Sleep Economy or Sleep Aids market position on a global level. The detailed insights into the market’s geographical spectrum offered by the report make it an excellent source of knowledge about the Sleep Economy or Sleep Aids industry.

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• Product Type Outlook (Revenue, USD Billion; 2019-2032)

  • Sleep Products
    1. Mattresses and Bedding
    2. Pillows and Cushions
    3. Sleepwear and Pajamas
    4. Blankets and Comforters
    5. Sleep Accessories
  • Sleep Medications and Supplements
    • Prescription-based Drugs
      1. Benzodiazepines
      2. Non-benzodiazepines (e.g., Zolpidem, Eszopiclone)
      3. Orexin Receptor Antagonists (e.g., Suvorexant)
    • OTC Drugs
    • Herbal Drugs
  • Sleep Technology
    • Sleep Trackers and Wearables
    • Sleep Sound Machines
    • Light Therapy Devices
    • Sleep Apnea Devices
      1. Positive Airway Pressure (PAP) Devices
      2. Facial Interfaces
      3. Oral Appliances
      4. Adaptive Servo-Ventilators (ASVs)
      5. Others
  • Sleep Services
    1. Sleep Clinics and Diagnostic Centers
    2. Sleep Coaching and Therapy
    3. Sleep Retreats and Wellness Programs
    4. Sleep Consultations & Telemedicine

• Sleep Disorder Outlook (Revenue, USD Billion; 2019-2032)

  • Insomnia
  • Sleep Apnea
  • Restless Legs Syndrome
  • Narcolepsy
  • Parasomnia
  • Others

• Distribution Channel Outlook (Revenue, USD Billion; 2019-2032)

  • Retail Pharmacies
  • Online Platforms
  • Supermarkets and Hypermarkets
  • Convenience Stores

Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:

• United States
• Europe
• China
• Japan
• Southeast Asia
• India

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Table of content

Chapter 1: Methodology & Scope

• Definition and forecast parameters
• Methodology and forecast parameters
• Data Sources

Chapter 2:

Executive Summary

• Business trends
• Regional trends
• Product trends
• End-use trends

Chapter 3:

Industry Insights

• Industry segmentation
• Industry landscape
• Vendor matrix
• Technological and innovation landscape

Chapter 4:

Regional Landscape

Chapter 5:

Company Profile

• Business Overview
• Financial Data
• Product Landscape
• Strategic Outlook

Why Choose Emergen Research?

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6. Latest Technological Developments
7. Value Chain Analysis
8. Potential Market Opportunities
9. Growth Dynamics
10. Quality Assurance
11. Post-sales Support

TOC of the global Sleep Economy or Sleep Aids Market report:

Chapter 1, describes the Sleep Economy or Sleep Aids Market  Introduction, market overview, product offerings, growth opportunities, market risks, driving forces, and challenges.

Chapter 2, analyzes the key manufacturers of Sleep Economy or Sleep Aids Market , along with the sales, revenue, and price of Sleep Economy or Sleep Aids Market , in the forecast period.

Chapter 3, studies the competitive situation among the major manufacturers and vendors, with sales, revenue, and market share.

Chapter 4, analyzes the global market by regions, with sales, revenue, and market share of Sleep Economy or Sleep Aids Market, for each region, from 2020 to 2032.

Chapters 5, 6, 7, 8 and 9, analyze the Sleep Economy or Sleep Aids Market  by type, application, regions, and manufacturers, with sales, revenue, and market share by key countries in these regions…Continued

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About Emergen Research

Emergen Research is a Market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer Market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.