U.S. Sleep Aids Market Outlook 2032
The U.S. sleep aids market size was valued at $29,653.33 Million in 2022 and is projected to reach $54,729.19 Million by 2032, registering a CAGR of 6.3% from 2023 to 2032.
Sleep is a condition of diminished physical and mental activity during which consciousness is altered and sensory activity is inhibited. Sleep disorders are the conditions that disrupt the normal sleep cycle and sleep quality. To treat these conditions, sleep aids are employed, which include medications, mattresses and pillows, natural supplements, and other sleep apnea devices. These aids are designed to regulate sleep cycles and sleep quality. They are used to treat various sleep disorders such as insomnia, narcolepsy, sleep apnea, restless leg syndrome, sleepwalking, and others. However, long term use of these aids leads to potential side effects such as prolonged drowsiness, dizziness, diarrhea, and others.
Market Dynamics
The U.S. sleep aids market growth is driven by rise in prevalence of insomnia, increase in awareness about sleep disorders and its available treatments, and technological advancement in sleep aids. Insomnia is the most common sleep disorder in the U.S., characterized by trouble falling asleep, staying asleep, or getting a good quality sleep. Surge in the prevalence of insomnia increases the demand for medications and drives the growth of the U.S. sleep aids market. For instance, according to the National Sleep Foundation (NSF), by 2021, about 10% and 30% of adults were suffering from insomnia in America. In addition, as per the same source women are more susceptible to have poor quality of sleep due to various life stages than men. Further, increase in awareness about sleep disorders also contribute toward the market growth. For instance, Centers for Disease Control and Prevention (CDC) awarded the American Academy of Sleep Medicine (AASM), a three-year grand (from 2021 to 2024), for a project to expand the national approach to chronic disease education and awareness.
This project focuses on expanding education and awareness of obstructive sleep apnea to public health professionals through data dissemination activities and educational activities. These activities focus on testing procedures, diagnosis, treatment, and long-term management of sleep apnea. In addition, this project aims to expand sleep health promotion and sleep prevention awareness and develop partnerships and collaborations to improve education and awareness about sleep hygiene.
In addition, the technological advancement in sleep aids such as wearable sleep monitoring patches, bed-based sensors, smart beds, and mattresses also boost the market growth. For instance, Sleep Number's SleepIQ technology tracks the user's sleep patterns, heart rate, and breathing, which provide insights into sleep quality and suggests adjustments to the bed or sleep habits to enhance rest. This convergence of technology and comfort illustrates how smart beds and mattresses have the potential to revolutionize sleep experience. Thus, such technological advancement increases the demand for sleep aids and boosts the market growth.
Moreover, lifestyle changes and rise in obese population in U.S. also contribute towards the market growth. For instance, according to The University of Texas Southwestern Medical Center, in 2022, reported that more than 40% of people in the U.S. have obesity and about 21% of people have sleep disorder. Furthermore, increase in screen time and higher stress levels significantly impact the sleep quality. For instance, the National Sleep Foundation (NSF), 2021, reported that 89% of adults and 75% of children have at least one electronic device in their bedrooms. This further contributes toward the rise in incidence of sleep disorders and drives the market growth.
In addition, increase in product approvals by regulatory authorities also drives the growth of the U.S. sleep aids market. Approved drugs are marketed and sold to healthcare providers, which expand their accessibility to patients. This market expansion leads to increased revenue generation, which, in turn, supports the growth of the U.S. sleep aids market. Moreover, rise in ageing population and increase in incidence & prevalence of sleep disorders are expected to fuel the demand for sleep aids in the U.S. market.
However, various side effects associated with sleep medications and devices restrain the growth of the U.S. sleep aids market. Side effects associated with sleep aids may create barriers that restrict their adoption. For instance, sleeping pills can cause headaches, muscle weakness, dry mouth, nausea, and others. Furthermore, CPAP machines can cause claustrophobia, dry nose and throat, and aerophagia.
On the other hand, increase in regulatory approvals of new drugs to treat various sleep disorders is expected to create lucrative opportunities for the growth of the U.S. sleep aids market during the forecast period.
Recession Impact
During an economic recession, the medical technology and pharmaceutical industry is moderately impacted due to increased cost for healthcare providers, supplies, and rise in interest rates. Furthermore, inflationary pressures affect manufacturing costs, operating expenses, and other expenses. In addition, according to Philips Annul Report 2022, inflation may cause customers to reduce or delay orders for products, which can have an adverse effect on the business, results of operations, and cash flows. However, rapid transformations in the healthcare industry due to various factors such as advancements in technology and evolving consumer expectations drive the demand for healthcare solutions. Thus, the U.S. sleep aids market is moderately impacted by the recession.
Segmental Overview
The U.S. sleep aids market is segmented on the basis of product, sleep disorder, age, gender, and race. On the basis of product, the market is classified into mattresses and pillows, sleep laboratories, medications, supplements, and sleep apnea devices. Medications are further bifurcated into prescription-based drugs and OTC drugs. On the basis of sleep disorder, the market is segmented into insomnia, sleep apnea, restless leg syndrome, narcolepsy, sleepwalking, and other sleep disorders. As per age, the market is divided into 18 to 39, 40 to 49, 50 to 59, 60 to 69, and 70 and above. Depending on gender, the market is bifurcated into men and women. On the basis of race, the market is classified into non-Hispanic white, non-Hispanic black, and Mexican American.
By Product:
The U.S. sleep aids market is segmented into mattresses and pillows, sleep laboratories, medications, supplements, and sleep apnea devices. The mattresses and pillows segment dominated the market in 2022 and is expected to remain dominant throughout the forecast period. This is attributed to the development of technologically advanced pillows and mattresses and an increase in awareness about the importance of sleep among the general population. On the other hand, the sleep laboratories segment is expected to register the fastest CAGR during the forecast period, owing to a rise in need for sleep diagnostic services.
By Product
Mattresses and Pillows segment held a dominant position in 2022. However, sleep laboratories segment is anticipated to grow at a fastest rate during the forecast period.
By Sleep Disorder:
The U.S. sleep aids market is segregated into insomnia, sleep apnea, restless leg syndrome, narcolepsy, sleepwalking, and other sleep disorders. The insomnia segment dominated the market in 2022 and is anticipated to continue this trend during the forecast period. This is attributed to an increase in prevalence of insomnia due to modern lifestyle, prolonged use of smartphones and stressed work environment. On the other hand, sleep apnea is expected to be the fastest growing segment during the forecast period, owing to increase in prevalence of obese population, which is the major risk factor for sleep apnea.
By Sleep Disorder
Insomnia segment held a dominant position in the market in 2022. However, sleep apnea segment is anticipated to grow at a fastest rate during the forecast period.
By Age:
The U.S. sleep aids market is segmented into 18 to 39, 40 to 49, 50 to 59, 60 to 69, and 70 and above. The 70 and above segment dominated the market in 2022. This is attributed to changes in hormone production such as melatonin and cortisol, which lead to sleep disturbances. In addition, sleep problems increase with age and sleep duration decreases. Thus, all aforementioned factors drive the demand for sleep aids in the geriatric population. On the other hand, 50 to 59 is expected to be the fastest growing segment during the forecast period. This is attributed to increasing incidence of acute and chronic medical illnesses, psychiatric disorders, and social changes that disturb sleep habits and lead to sleep disorders.
By Gender:
The U.S. sleep aids market is segmented into men and women. The women segment dominated the market in 2022. This is attributed to high prevalence of sleep disorders among women as compared to men due to hormonal changes, pregnancy, and postpartum period. On the other hand, men segment is expected to be the fastest growing segment from 2023 to 2032, owing to lack of awareness about the importance of quality sleep and increase in prevalence of obstructive sleep apnea.
By Race:
The U.S. sleep aids market is classified into non-Hispanic white, non-Hispanic black, and Mexican American. The non-Hispanic white segment dominated the market in 2022, owing to high prevalence of sleep disorders among this race group. In addition, according to Centers for Disease Control and Prevention (CDC), non-Hispanic white adults have trouble falling asleep as compared to non-Hispanic Asian adults. On the other hand, Mexican American is expected to be the fastest growing segment during the forecast period, owing to socioeconomic factors such as work conditions, stress levels, and economic stability that influence the sleep quality and demand for sleep aids.
Competition Analysis
Competitive analysis and profiles of the major players in the sleep aids, such as ActiGraph LLC, Compumedics Limited., Drive DeVilbiss Healthcare Inc., GlaxoSmithKline Plc, Koninklijke Philips N.V., Merck and Co., Inc., Natus Medical Inc., Sanofi S.A., Sleep Doctor, and SleepMed Inc. Other players in the market include Cadwell Industries Inc., Eisai Co., Ltd., and others. Major players have adopted product approval, acquisition, and partnership as key developmental strategies to improve the product portfolio and gain strong foothold in the U.S. sleep aids market.
Recent Acquisition in the U.S. sleep aids market
In May 2020, ActiGraph LLC, a global leader in medical-grade wearable physical activity and sleep monitoring solutions has been acquired by the global private equity healthcare specialist ArchiMed.
Recent Product Approval in the U.S. sleep aids market
In February 2020, Merck & Co., Inc., a global pharmaceutical company, received the Food and Drug Administration (FDA) approval for BELSOMRA (suvorexant) for the treatment of insomnia. Such product launches will help the company to gain a strong foothold in the U.S. sleep aids market.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the U.S. sleep aids market and the current trends and future estimations to elucidate the imminent investment pockets.
- It presents a quantitative analysis of the market from 2022 to 2031 to enable stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the market based on type assists us to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market
U.S. Sleep Aids Market Report Highlights
| Aspects | Details |
 By Product |
|
 By Sleep Disorder |
|
 By Age |
|
 By Race |
|
 Key Market Players | Natus Medical Inc., Compumedics Limited., Drive DeVilbiss Healthcare Inc., Merck and Co., Inc., Sanofi S.A., SleepMed Inc., GlaxoSmithKline Plc, Koninklijke Philips N.V., ActiGraph LLC, Sleep Doctor |
Analyst Review
Sleep aids are drugs, medical devices, and services that are used to diagnose and treat various sleep disorders such as sleep apnea and insomnia. Sleep is a biological requirement that maintains metabolic homeostasis, influences memory and other cognitive functions, and regulates immune function.
Inadequate sleep can result in various sleep disorders such as insomnia, sleep apnea, narcolepsy, and others. Various sleep aids such as medications, mattresses and pillows, sleep apnea devices and others are used to treat these disorders. Therefore, the rise in prevalence of sleep disorders increases the demand for sleep aid products and drives the growth of the market.
Furthermore, an increase in new product approvals and a rise in prevalence of sleep disorders are the key factors that boost market growth. For instance, in February 2020, Merck and Co., Inc., a U.S. based pharmaceutical company, received the U.S. Food and Drug Administration (FDA) approval for BELSOMRA (suvorexant) to treat people suffering from insomnia. Thus, new product approvals are expected to create lucrative opportunities for market growth during the forecast period.
The total market value of U.S. sleep aids marketis $29.6 billion in 2022.
The forecast period for U.S. sleep aids market is 2023-2032.
The market value of U.S. sleep aids market in 2032 is $54.7 billion.
The base year is 2022 in U.S. sleep aids market
Major key players that operate in the U.S. sleep aids market are GlaxoSmithKline plc, Koninklijke Philips N.V., Sanofi S.A., Merck and Co. Inc., and Natus Medical Incorporated have held the highest market position.
The mattresses and pillows segment is the most influencing segment in the U.S. sleep aids market, which is attributed to increase in demand for mattresses and pillows and development of smart mattresses and pillows.
The U.S. sleep aids market growth is driven by an increase in prevalence of sleep disorders, increase in awareness about impotance of sleep and sleep disorders, and rise in geriatric population which are more susceptible to acquire sleep disorders.
Sleep aids are the medical devices and pharmaceutical products help a person to provide quality sleep.
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