Sleeping Aids Market Opportunities and Strategies to 2034

This report describes and explains the sleeping aids market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global sleeping aids market reached a value of nearly $89.05 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.55% since 2019. The market is expected to grow from $89.05 billion in 2024 to $129.29 billion in 2029 at a rate of 7.74%. The market is then expected to grow at a CAGR of 7.66% from 2029 and reach $186.97 billion in 2034.

Growth in the historic period resulted from the increased prevalence of sleep disorders, rising disposable income, rise in demand for home healthcare and surge in mental health issues. Factors that negatively affected growth in the historic period were high costs of sleep management.

Going forward, increasing prevalence of obesity, increasing healthcare expenditure, increasing aging population and growing penetration of e-commerce will drive the growth. Factor that could hinder the growth of the sleeping aids market in the future include economic instability.

The global sleeping aids market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 39.8% of the total market in 2023. Procter & Gamble Co. was the largest competitor with a 8.53% share of the market, followed by Tempur Sealy International Inc. with 5.82%, Pfizer Inc. 5.5.3%, Eisai Co. Ltd. with 5.06%, ResMed Inc. with 4.45%, Koninklijke Philips N.V. with 3.37%, Boehringer Ingelheim International GmbH with 2.73%, Jazz Pharmaceuticals plc. with 2.35%, Nature's Bounty Co. with 1.01% and Teva Pharmaceutical Industries Ltd. with 0.96%.

North America was the largest region in the sleeping aids market, accounting for 35.54% or $31.64 billion of the total in 2024. It was followed by Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the sleeping aids market will be Asia Pacific and Africa where growth will be at CAGRs of 9.44% and 9.09% respectively. These will be followed by Middle East and South America where the markets are expected to grow at CAGRs of 8.84% and 7.96% respectively.

The sleeping aids market is segmented by product into mattresses and pillows, sleep laboratories, medications, sleep apnea devices and other products. The mattresses and pillows market was the largest segment of the sleeping aids market segmented by product, accounting for 46.21% or $41.14 billion of the total in 2024. Going forward, the sleep apnea devices segment is expected to be the fastest growing segment in the sleeping aids market segmented by product, at a CAGR of 8.8.5% during 2024-2029.

The sleeping aids market is segmented by indication into insomnia, restless leg syndrome, narcolepsy, sleep apnea, sleepwalking and other indications. The insomnia market was the largest segment of the sleeping aids market segmented by indication, accounting for 49.85% or $44.38 billion of the total in 2024. Going forward, the sleep apnea segment is expected to be the fastest growing segment in the sleeping aids market segmented by indication, at a CAGR of 8.38% during 2024-2029.

The sleeping aids market is segmented by distribution channel into hospital pharmacies, retail pharmacies, e-commerce, drug stores and other distribution channels. The retail pharmacies market was the largest segment of the sleeping aids market segmented by distribution channel, accounting for 33.54% or $29.87 billion of the total in 2024. Going forward, the e-commerce segment is expected to be the fastest growing segment in the sleeping aids market segmented by distribution channel, at a CAGR of 9.87% during 2024-2029.

The top opportunities in the sleeping aids markets segmented by product will arise in the mattresses and pillows segment, which will gain $20.87 billion of global annual sales by 2029. The top opportunities in the sleeping aids market segmented by indication will arise in the insomnia segment, which will gain $21.48 billion of global annual sales by 2029. The top opportunities in the sleeping aids markets segmented by distribution channel will arise in the retail pharmacies segment, which will gain $14.01 billion of global annual sales by 2029. The sleeping aids market size will gain the most in the USA at $11.0 billion.

Market-trend-based strategies for the sleeping aids market include focus on offering personalized sleep solutions with smart devices, such as AI integration in sleep technology, minimally invasive neurostimulation devices, focus on developing advanced technologies, like mattress temperature controllers and bioactive blends or natural ingredients aimed at improving sleep quality.

Player-adopted strategies in the sleeping aids market include focus on strengthening its operational capabilities through new product launches and acquisitions.

To take advantage of the opportunities, the analyst recommends the sleeping aids companies to focus on personalized sleep solutions with smart technology, focus on minimally invasive neurostimulation devices, focus on advanced technologies for personalized sleep solutions, focus on wellness solutions with natural ingredients, focus on capitalizing on the sleep apnea devices market, focus on the sleep apnea market, expand in emerging markets, focus on expanding strategic distribution channels, focus on optimizing competitive pricing strategies, focus on strengthening digital and content-driven promotion, focus on expanding healthcare and retail-based promotion and focus on the e-commerce market.

Major Market Trends

• AI-Powered Personalization in the Sleeping Aids Market
• Minimally Invasive Neurostimulation Devices As a Breakthrough in the Sleeping Aids Market
• Advancements in Mattress Temperature Controllers Enhances Sleep Comfort
• Rise of Bioactive Blends and Natural Ingredients For Better Wellness Solution

Key Mergers and Acquisitions

• Sunrise Acquires Dreem Health To Bridge U.S. Sleep Medicine Gap
• Carpenter Co. Acquires Casper Sleep Inc. To Strengthen Market Position
• Indo Count Industries Expands North American Presence With Strategic Acquisition of Fluvitex USA
• H.I.G. Capital Acquires Sleepeezee To Form "the Sleep Group"
• Cosette Pharmaceuticals Strengthens Portfolio With Acquisition of Ambien and Ambien CR From Sanofi
• Sheela Foam Strengthens Acquired Kurlon Enterprises To Enhance Market Presence
• Sleep Solutions Acquires Sleepme Inc. To Enhance Sleep Technology Portfolio