Sleeping Aids Market Research Report: By Offering (Mattresses and Pillows, Sleep Laboratory Services, Medication, Sleep Apnea Devices), Sleep Disorder (Insomnia, Sleep Apnea, Restless Legs Syndrome, Narcolepsy, Sleep Walking) - Global Industry Analysis and Growth Forecast to 2030
New York, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sleeping Aids Market Research Report: By Offering, Sleep Disorder - Global Industry Analysis and Growth Forecast to 2030" - https://www.reportlinker.com/p05982446/?utm_source=GNW
The global sleeping aids market generated a revenue of $78.7 billion in 2019 and is predicted to progress at a CAGR of 7.1% from 2020 to 2030. As per the market research firm, P&S Intelligence, the market would attain a value of $162.5 billion by 2030. The major factors driving the progress of the market are the increasing number of healthcare facilities, growing usage of portable sleep apnea devices, and the rising adoption of sensors and wearable monitors.
Besides the aforementioned factors, the increasing prevalence of obstructive sleep apnea (OSA) and insomnia and the soaring geriatric population around the world are also propelling the expansion of the sleeping aids market. As per the findings of the American Sleep Apnea Association, over 50 million Americans are diagnosed with 80 different sleep disorders every year. Moreover, the organization found that 20—30 million people in the U.S. suffer from various intermittent sleep problems every year.
According to the organization, insomnia is the most prevalent sleep disorder, with nearly 30% of the adults living in the U.S. reporting short-term issues and around 10% reporting chronic insomnia. As the medical treatments prescribed for OSA and insomnia involve sleeping aids, the rising incidence of these disorders is fueling the growth of the market. Besides this, the various lifestyle changes in people such as the high consumption of caffeine, tobacco, and alcohol is also propelling the market advancement.
Furthermore, the increasing working hours, high workload and work pressure, and hectic work environment massively push up the stress levels and affect the quality of sleep. This subsequently boosts the sales of over-the-counter (OTC) sleeping pills, which help improve the quality of sleep, throughout the globe. When offering is taken into consideration, the sleeping aids market is classified into mattresses and pillows, sleep laboratory services, sleep apnea devices, and medication.
Read the full report: https://www.reportlinker.com/p05982446/?utm_source=GNW
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