The market is expected to show evident potential in the mentioned forecast period. The market is growing, as a result of the rising geriatric population and increasing awareness among various organizations about sleep disorders. With increase in the number of professionals working in night shifts and rescheduling their sleeping time, sleeping aids are likely to gain traction in the coming few years.
Sleep Aids are drugs or medical devices which help a person to fall asleep. Improper sleep cycle or sleep disorders have severe effects on one’s work life and health. Sleep Disorders are generally cause by changes in sleeping patterns as a result of medical issues, psychiatric problems, and environmental issues.
The increased usage of caffeine, tobacco and alcohol has been causing sleep disorders in the population. This constitutes as one of the major factors driving the Asia-Pacific sleep aids market. Further, increase in demand for sleeping pills as a result of stressful modern lifestyle and awareness initiative for sleep disorder by various organization have also contributed in the rapid growth of the Asia-Pacific Sleep Aids market.
Apart from these, the sleep aids market also faces some challenges and restraints which include, side effects associated with sleeping aids medications and patent expiration of treatment pills for sleep disorders. The Asia-Pacific Sleep Aids market is segmented on the basis of Sleep disorders, Products and Medication types. Based on sleep disorder the sleep aids market is segmented under Insomnia, Sleep Apnea, Narcolepsy, Restless legs syndrome and Sleep walking. By product the Asia-Pacific Sleep Aids market is segmented into Sleep Laboratories, Mattresses & Pillows, Medication and Sleep apnea devices. On the basis of Medication types the segmentation is done under Prescription-based Drugs, OTC drugs and Herbal Drugs. Sleep apnea remains to be the fastest growing segment compared to other sleep disorders, whereas Mattresses and pillows are expected to continue leading the Asia-Pacific Sleep Aids market in coming years. On the basis of medication type, prescription medications hold the largest share in the Sleep Aids market. On the basis of geographical analysis, the Asia-Pacific Sleep Aids market is segmented under various countries namely China, India, Japan, Australia and South Korea.
The major companies dominating the Asia Pacific Sleep Aids market are Pfizer, Cadwell, Merck & Co., Koninklijke Philips N.V. (Philips), Sanofi, Care Fusion Corporation, GlaxoSmithKline Plc, Natus Medical manufactures, SleepMed, DeVilbiss Healthcare LLC.
By Sleep Disorder Insomnia Sleep Apnea Restless legs syndrome Narcolepsy Sleep walking
By Medication Prescription-based Drugs OTC drugs Herbal Drugs
The Sleep Aids Market study offers the following deliverables: Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is blooming Segment-level analysis on basis of Sleep disorder, Product, Medication along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics Study of macro and micro environmental factors that effect the global market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview to study and sustain the market environment Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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