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Sleep Apnea Diagnostic Devices Is Fastest Growing Segment Fueling The Growth Of Sleep Aids Market

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Pooja Khodke
Sleep Apnea Diagnostic Devices Is Fastest Growing Segment Fueling The Growth Of Sleep Aids Market

The global Sleep Aids Market is estimated to be valued at US$ 73350.49 Mn in 2023 and is expected to exhibit a CAGR Of 7.3% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:


Sleep aids products helps in treating disorders and maintaining a healthy sleep pattern. Products like sleep apnea devices, sleep labs, drugs and mattresses helps diagnose and treat various sleep disorders increasing the quality of sleep.


Market key trends:


Rise in awareness campaigns and product innovations are fueling the growth of sleep apnea diagnostic devices segment in the sleep aids market. Sleep apnea is a common sleep disorder where breathing repeatedly stops and starts and is rapidly becoming one of the fastest growing segments. New diagnostic devices like portable home sleep testing devices with Bluetooth connectivity and oxygen saturation monitoring are making diagnosis more accessible and convenient.


Segment Analysis


The global sleep aids market is segmented on the basis of product type, sleep disorder, and distribution channel. Based on product type, the market is segmented into mattresses and pillows, sleep laboratories, medications, and sleep apnea devices. The medications segment dominated the market in 2023 due to high adoption of prescription medications for treatment of insomnia and other sleep disorders.


Key Takeaways


The Global Sleep Aids Market Size is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing prevalence of sleep disorders and growing awareness regarding ill effects of sleep deprivation.


The North America region is expected to dominate the global sleep aids market during the forecast period due to increased adoption of advanced sleep aids products and rising cases of sleep disorders in the region.


Key players operating in the sleep aids market are Sanofi, Merck & Co., Inc, Pfizer Inc., Koninklijke Philips N.V., GSK plc, Sommetrics, Inc., ResMed, Cadwell Industries, Inc., SleepMed, Inc., Sci Sparc, Natus Medical Incorporated, Therapix Biosciences Ltd, Compumedics Limited, AstraZeneca, Eisai Co., Ltd., Tris Pharma, Inc., Novartis AG, Fisher & Paykel Healthcare Limited, Rotech Healthcare Inc., Idorsia Pharmaceuticals Ltd., StimScience among others.


Read More :  https://www.newsstatix.com/growth-of-sleep-technology-and-digital-health-solutions-to-drive-the-sleep-aids-market/

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