The American Sleep Apnea Association says that at present, around 22 million people in the U.S. suffer from sleep apnea. Among these, around 80% of cases of severe and moderate obstructive sleep apnea (OSA) remain undiagnosed. OSA can affect infants as well as adults; however, it is most frequent among men over 40 years. This disorder is highly prevalent among overweight or obese men. Thus, the surging cases of sleep disorders, such as OSA and insomnia, will create a huge requirement for sleeping aids in the coming years.
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In recent years, BRAEBON Medical Corporation, Takeda Pharmaceutical Company Limited, Löwenstein Medical GmbH & Co. KG, Natus Medical Incorporated, GlaxoSmithKline plc, Merck & Co. Inc., ResMed Inc., and Koninklijke Philips N.V. have been focusing on the production of sleep apnea devices, mattress and pillows, and medication and offering sleep laboratory services. In contemporary times, mattresses and pillows are being preferred over other sleeping aids due to their cost-effectiveness and availability in wide varieties. These products are used to comfort and treat patients suffering from insomnia, sleep apnea, narcolepsy, restless leg syndrome (RLS), and sleepwalking.
Currently, sleeping aids manufacturers are engaging in product launches and partnerships and collaborations to reach out to a greater number of customers. For instance, in September 2019, Koninklijke Philips N.V. introduced its expanded SmartSleep suite of solutions in the U.S. These solutions assist users in addressing an array of sleep issues, ranging from difficulty in falling asleep to snoring. Furthermore, in January 2020, SleepScore Labs partnered with Serta Simmons Bedding LLC (SSB) to explore the effects of sleeping on the iComfort by Serta CF4000 mattress and its ability to offer restful and comfortable sleep.
Whereas, the Asia-Pacific (APAC) sleeping aids market is expected to progress at the highest rate in the foreseeable future. This will be due to the increasing consumption of sleeping pills, booming geriatric population, and rising burden of sleeping disorders. According to the United Nations Population Fund (UNFPA), the population of people aged 60 years or above in the region will reach around 1.3 billion by 2050. Moreover, the low manufacturing cost of the products, owing to the easy availability of raw materials and labor, will support the market growth in the region.
Thus, the mounting cases of sleeping disorders and escalating demand for sleeping pills will fuel the adoption of sleeping aids.
