Sleeping Medications Market Key Findings and Share by 2031
The Sleeping Medications Market is expected to register a CAGR of 6.8% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Product Type (OTC drugs, Prescription Drugs, Others), Sleep Disorder (Insomnia, Narcolepsy, Sleep Apnea, Sleep Walking, Others). The report further presents analysis based on the Distribution channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Sleeping Medications Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Sleeping Medications Market Segmentation
Product Type- OTC drugs
- Prescription Drugs
- Others
- Insomnia
- Narcolepsy
- Sleep Apnea
- Sleep Walking
- Others
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Strategic Insights
Sleeping Medications Market Growth Drivers- Increasing Sleep Disorders: There are increased cases of insomnia and sleep apnea, thereby increasing the demand for sleeping medication. Stress from life changes, along with the distractions brought about by technology, result in poor quality sleep. There are increased levels of awareness among patients, and consequently, there will be a growing trend in treatments using prescription and over-the-counter sleep aids.
- Growing Elder Population:
- An aged population increasingly suffering from sleep disorders due to chronic pain, cognitive decline, and disrupted sleep patterns, adds a huge amount to pharmaceutical companies. Majority of the elder population require medications for insomnia or other sleep-related disorders.
- Increased Awareness and Tolerance:
- Growing awareness for sleep health can enhance the acceptance of somnogenic drugs - a valid alternative for treatment. Public health awareness campaigns and education initiatives about sleep health have mobilized millions of people in search of a cure for sleep disorders. This will expand the market for prescription treatments as well as alternative remedies
- Shift Towards Natural and Herbal Remedies: Another change is the natural and herbal sleep aids, which are fashionable because consumers are getting away from prescription drugs. Products such as melatonin, valerian root, and chamomile have gained massive acceptability due to the perceived safeness and minimum side effects that are associated with the use of such. This is also part of the larger trend toward holistic health solutions.
- Telehealth and Electronic Health Solutions: Telehealth and electronic health solutions transform the way patients address sleep disorders. Self-assessment apps and online portals through these systems personally identify appropriate treatments, including prescription drugs, for patients' conditions. Improvements in access through these systems increase the possibility that more people will look for ways to battle sleep disorders, thereby increasing market share of medications with such conditions.
- Regulatory Changes and Innovations: Regulatory changes of sleep medication, with the view of increasing efficiency in approvals given for novel drugs, is driving innovations in the market. Pharmaceutical giants have been investing their research and development to develop effective and safe sleeping medications. The trend suggests potentially novel therapies that fit diverse consumer needs may enter the market.
- Development of Personalized Medicine : development of personalised sleeping medicine creates extensive scope for companies in the sleeping medications market. Here, with genetic insight combined with sleep patterns, companies will craft their product to satisfy the demand of targeted needs in the patient population. This, in turn, will improve efficacy and reduce side effects, thus offering wide scope for manufacturers to continue to compete strongly in a marketplace that is increasingly moving toward personalized healthcare.
- Expanding in the Emerging Markets With an increase in the pace of urbanization and lifestyle changes, sleep disorders are on the rise in emerging economies. With the growth of awareness related to sleep health issues and huge scope for expanding into markets, companies can take up this opportunity to be prominent in offering affordable and accessible sleeping medications pertinent to the needs of local consumers.
- Sleep Health in Corporate Wellness Programs: Sleep health is the new market integration with regard to corporate wellness programs. Most employers are cognizant of the role that sleep plays in enhancing productivity as well as the overall wellbeing of employees, thus introducing sleep-related initiatives. Businesses that offer sleeping medications or solutions under their wellness programs will benefit from this emerging trend in workplace health management.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Sleeping Medications Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Sleeping Medications Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The sleeping medications market is estimated to grow with a CAGR of 6.8% from 2023 to 2031
Asia-Pacific region is likely to witness the fastest growth rate during the forecast period.
The sleeping medications market majorly consists of players such as Pfizer Inc, Eli Lilly and Company, Sanofi among others
The market drivers include the increasing prevalence of sleep disorders and aging population, and increased awareness and acceptance are driving the sleeping medications market
Shift towards natural and herbal remedies is likely to remain the key trend during the forecast period.
North America dominated the sleeping medications market in 2023
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Sleeping Medications Market - By Product Type
1.3.2 Sleeping Medications Market - By Sleep Disorder
1.3.3 Sleeping Medications Market - By Distribution channel
1.3.4 Sleeping Medications Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. SLEEPING MEDICATIONS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. SLEEPING MEDICATIONS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. SLEEPING MEDICATIONS MARKET - GLOBAL MARKET ANALYSIS
6.1. SLEEPING MEDICATIONS - GLOBAL MARKET OVERVIEW
6.2. SLEEPING MEDICATIONS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. SLEEPING MEDICATIONS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. OTC DRUGS
7.3.1. Overview
7.3.2. OTC drugs Market Forecast and Analysis
7.4. PRESCRIPTION DRUGS
7.4.1. Overview
7.4.2. prescription drugs Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. others Market Forecast and Analysis
8. SLEEPING MEDICATIONS MARKET - REVENUE AND FORECASTS TO 2028 - SLEEP DISORDER
8.1. OVERVIEW
8.2. SLEEP DISORDER MARKET FORECASTS AND ANALYSIS
8.3. INSOMNIA
8.3.1. Overview
8.3.2. insomnia Market Forecast and Analysis
8.4. NARCOLEPSY
8.4.1. Overview
8.4.2. narcolepsy Market Forecast and Analysis
8.5. SLEEP APNEA
8.5.1. Overview
8.5.2. sleep apnea Market Forecast and Analysis
8.6. SLEEP WALKING
8.6.1. Overview
8.6.2. sleep walking Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. others Market Forecast and Analysis
9. SLEEPING MEDICATIONS MARKET - REVENUE AND FORECASTS TO 2028 - DISTRIBUTION CHANNEL
9.1. OVERVIEW
9.2. DISTRIBUTION CHANNEL MARKET FORECASTS AND ANALYSIS
9.3. RETAIL PHARMACIES
9.3.1. Overview
9.3.2. retail pharmacies Market Forecast and Analysis
9.4. HOSPITAL PHARMACIES
9.4.1. Overview
9.4.2. hospital pharmacies Market Forecast and Analysis
9.5. ONLINE PHARMACIES
9.5.1. Overview
9.5.2. online pharmacies Market Forecast and Analysis
10. SLEEPING MEDICATIONS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Sleeping Medications Market Overview
10.1.2 North America Sleeping Medications Market Forecasts and Analysis
10.1.3 North America Sleeping Medications Market Forecasts and Analysis - By Product Type
10.1.4 North America Sleeping Medications Market Forecasts and Analysis - By Sleep Disorder
10.1.5 North America Sleeping Medications Market Forecasts and Analysis - By Distribution channel
10.1.6 North America Sleeping Medications Market Forecasts and Analysis - By Countries
10.1.6.1 United States Sleeping Medications Market
10.1.6.1.1 United States Sleeping Medications Market by Product Type
10.1.6.1.2 United States Sleeping Medications Market by Sleep Disorder
10.1.6.1.3 United States Sleeping Medications Market by Distribution channel
10.1.6.2 Canada Sleeping Medications Market
10.1.6.2.1 Canada Sleeping Medications Market by Product Type
10.1.6.2.2 Canada Sleeping Medications Market by Sleep Disorder
10.1.6.2.3 Canada Sleeping Medications Market by Distribution channel
10.1.6.3 Mexico Sleeping Medications Market
10.1.6.3.1 Mexico Sleeping Medications Market by Product Type
10.1.6.3.2 Mexico Sleeping Medications Market by Sleep Disorder
10.1.6.3.3 Mexico Sleeping Medications Market by Distribution channel
10.2. EUROPE
10.2.1 Europe Sleeping Medications Market Overview
10.2.2 Europe Sleeping Medications Market Forecasts and Analysis
10.2.3 Europe Sleeping Medications Market Forecasts and Analysis - By Product Type
10.2.4 Europe Sleeping Medications Market Forecasts and Analysis - By Sleep Disorder
10.2.5 Europe Sleeping Medications Market Forecasts and Analysis - By Distribution channel
10.2.6 Europe Sleeping Medications Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Sleeping Medications Market
10.2.6.1.1 Germany Sleeping Medications Market by Product Type
10.2.6.1.2 Germany Sleeping Medications Market by Sleep Disorder
10.2.6.1.3 Germany Sleeping Medications Market by Distribution channel
10.2.6.2 France Sleeping Medications Market
10.2.6.2.1 France Sleeping Medications Market by Product Type
10.2.6.2.2 France Sleeping Medications Market by Sleep Disorder
10.2.6.2.3 France Sleeping Medications Market by Distribution channel
10.2.6.3 Italy Sleeping Medications Market
10.2.6.3.1 Italy Sleeping Medications Market by Product Type
10.2.6.3.2 Italy Sleeping Medications Market by Sleep Disorder
10.2.6.3.3 Italy Sleeping Medications Market by Distribution channel
10.2.6.4 Spain Sleeping Medications Market
10.2.6.4.1 Spain Sleeping Medications Market by Product Type
10.2.6.4.2 Spain Sleeping Medications Market by Sleep Disorder
10.2.6.4.3 Spain Sleeping Medications Market by Distribution channel
10.2.6.5 United Kingdom Sleeping Medications Market
10.2.6.5.1 United Kingdom Sleeping Medications Market by Product Type
10.2.6.5.2 United Kingdom Sleeping Medications Market by Sleep Disorder
10.2.6.5.3 United Kingdom Sleeping Medications Market by Distribution channel
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Sleeping Medications Market Overview
10.3.2 Asia-Pacific Sleeping Medications Market Forecasts and Analysis
10.3.3 Asia-Pacific Sleeping Medications Market Forecasts and Analysis - By Product Type
10.3.4 Asia-Pacific Sleeping Medications Market Forecasts and Analysis - By Sleep Disorder
10.3.5 Asia-Pacific Sleeping Medications Market Forecasts and Analysis - By Distribution channel
10.3.6 Asia-Pacific Sleeping Medications Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Sleeping Medications Market
10.3.6.1.1 Australia Sleeping Medications Market by Product Type
10.3.6.1.2 Australia Sleeping Medications Market by Sleep Disorder
10.3.6.1.3 Australia Sleeping Medications Market by Distribution channel
10.3.6.2 China Sleeping Medications Market
10.3.6.2.1 China Sleeping Medications Market by Product Type
10.3.6.2.2 China Sleeping Medications Market by Sleep Disorder
10.3.6.2.3 China Sleeping Medications Market by Distribution channel
10.3.6.3 India Sleeping Medications Market
10.3.6.3.1 India Sleeping Medications Market by Product Type
10.3.6.3.2 India Sleeping Medications Market by Sleep Disorder
10.3.6.3.3 India Sleeping Medications Market by Distribution channel
10.3.6.4 Japan Sleeping Medications Market
10.3.6.4.1 Japan Sleeping Medications Market by Product Type
10.3.6.4.2 Japan Sleeping Medications Market by Sleep Disorder
10.3.6.4.3 Japan Sleeping Medications Market by Distribution channel
10.3.6.5 South Korea Sleeping Medications Market
10.3.6.5.1 South Korea Sleeping Medications Market by Product Type
10.3.6.5.2 South Korea Sleeping Medications Market by Sleep Disorder
10.3.6.5.3 South Korea Sleeping Medications Market by Distribution channel
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Sleeping Medications Market Overview
10.4.2 Middle East and Africa Sleeping Medications Market Forecasts and Analysis
10.4.3 Middle East and Africa Sleeping Medications Market Forecasts and Analysis - By Product Type
10.4.4 Middle East and Africa Sleeping Medications Market Forecasts and Analysis - By Sleep Disorder
10.4.5 Middle East and Africa Sleeping Medications Market Forecasts and Analysis - By Distribution channel
10.4.6 Middle East and Africa Sleeping Medications Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Sleeping Medications Market
10.4.6.1.1 South Africa Sleeping Medications Market by Product Type
10.4.6.1.2 South Africa Sleeping Medications Market by Sleep Disorder
10.4.6.1.3 South Africa Sleeping Medications Market by Distribution channel
10.4.6.2 Saudi Arabia Sleeping Medications Market
10.4.6.2.1 Saudi Arabia Sleeping Medications Market by Product Type
10.4.6.2.2 Saudi Arabia Sleeping Medications Market by Sleep Disorder
10.4.6.2.3 Saudi Arabia Sleeping Medications Market by Distribution channel
10.4.6.3 U.A.E Sleeping Medications Market
10.4.6.3.1 U.A.E Sleeping Medications Market by Product Type
10.4.6.3.2 U.A.E Sleeping Medications Market by Sleep Disorder
10.4.6.3.3 U.A.E Sleeping Medications Market by Distribution channel
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Sleeping Medications Market Overview
10.5.2 South and Central America Sleeping Medications Market Forecasts and Analysis
10.5.3 South and Central America Sleeping Medications Market Forecasts and Analysis - By Product Type
10.5.4 South and Central America Sleeping Medications Market Forecasts and Analysis - By Sleep Disorder
10.5.5 South and Central America Sleeping Medications Market Forecasts and Analysis - By Distribution channel
10.5.6 South and Central America Sleeping Medications Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Sleeping Medications Market
10.5.6.1.1 Brazil Sleeping Medications Market by Product Type
10.5.6.1.2 Brazil Sleeping Medications Market by Sleep Disorder
10.5.6.1.3 Brazil Sleeping Medications Market by Distribution channel
10.5.6.2 Argentina Sleeping Medications Market
10.5.6.2.1 Argentina Sleeping Medications Market by Product Type
10.5.6.2.2 Argentina Sleeping Medications Market by Sleep Disorder
10.5.6.2.3 Argentina Sleeping Medications Market by Distribution channel
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL SLEEPING MEDICATIONS MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Rest of the World
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. SLEEPING MEDICATIONS MARKET, KEY COMPANY PROFILES
13.1. PFIZER
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. SANOFI
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. SUMITOMO DAINIPPON PHARMA CO.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. TAKEDA PHARMACEUTICAL COMPANY LTD.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. TEVA PHARMACEUTICAL INDUSTRIES LTD.
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Pfizer
2. Sanofi
3. Sumitomo Dainippon Pharma Co.
4. Takeda Pharmaceutical Company Ltd.
5. Teva Pharmaceutical Industries Ltd.
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- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
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Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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