U.S. Sleep Aids Market Expected to Reach $54.7 Billion by 2032

According to a new report published by Allied Market Research, titled, " U.S. Sleep Aids Market by Product, Sleep Disorder, Age, Gender, and Race: Global Opportunity Analysis and Industry Forecast, 2023–2032," The U.S. sleep aids market size was valued at $29.6 Billion in 2022, and is projected to reach $54.7 Billion by 2032, registering a CAGR of 6.3% from 2023 to 2032.

Sleep disorders are the conditions that impair the sleep pattern or disturb the restful sleep and as a result it can cause daytime sleepiness and other symptoms. The common sleep disorders include insomnia, restless legs syndrome, narcolepsy and sleep apnea. Sleep aids are the medications and products used to help individuals with insomnia or other sleep disorders. These aids work by calming the central nervous system, regulating sleep pattern, or addressing various issues that are causing sleep disturbances such as anxiety and depression.

Factors that drive the growth of U.S. sleep aids market include increase in prevalence of geriatric and obese population, surge in prevalence of insomnia, and technological advancement in sleep aid products. Geriatric and obese people are more prone to sleep disorders such as insomnia, sleep apnea, and restless leg syndrome. For instance, according to National Centers for Biotechnology Information (NCBI), 2023, sleep disorders affect around 50 to 70 million Americans, with chronic insomnia being the most common in elderly population. Further, the increase in the number of people seeking treatment for sleep disorders also contribute toward the market growth. For instance, according to the Centers for Disease Control and Prevention (CDC) report, about 8.4% of adults took sleep medication in 2020. This has increased the consumption of sleep medications, which, in turn, contribute toward the U.S. Sleep aids market growth.

In addition, a rise in product approvals and collaboration activities by the key market players to expand the sleep aids business is expected to create lucrative opportunities for market growth during the forecast period. For instance, in February 2020, Merck and Co, Inc., received the U.S. Food and Drug Administration (FDA) approval for BELSOMRA (suvorexant), to treat insomnia in patients with mild-to-moderate Alzheimer’s disease.

However, the side effects associated with mediations used to treat sleep disorders restrain the market growth. For instance, prescription sleeping pills cause dizziness or lightheadedness, diarrhea or nausea, severe allergic reactions, and daytime memory and performance problems. In addition, the complications of sleep apnea devices also limit their adoption in the market and negatively impact the market growth. For instance, CPAP machines are associated with side effects such as claustrophobic feelings, skin irritation or pressure sores, and dry mouth.

On the basis of product, the 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, owing to a high cost of sleep mattresses, increase in awareness about importance of quality mattresses and pillows to achieve good sleep among consumers, and availability of technologically advanced mattresses and pillows. On the other hand, sleep laboratories is the fastest growing segment during the forecast period, owing to an increase in awareness and diagnosis of sleep disorders.

On the basis of sleep disorder, the market is classified into insomnia, sleep apnea, restless leg syndrome, narcolepsy, sleepwalking, and other sleep disorders. The insomnia segment dominated the market in 2022, as insomnia is the most common sleep disorder in the U.S. and the prevalence of insomnia is continuously rising due to stressful modern lifestyle of many Americans. On the other hand, sleep apnea is the fastest growing segment during the forecast period, owing to the increase in number of people suffering from sleep apnea, and technological advancement in sleep apnea devices.

As per age, the market is divided 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 owing to frequent age-related sleep changes in this age group and rising prevalence of insomnia. On the other hand, the 50 to 59 segment is the fastest growing segment during the forecast period, owing to decreased in sleep efficiency in this age group and rise in adoption of sleep aids.

Depending on gender, the market is bifurcated into men and women. The women segment dominated the market in 2022. This is attributed to high prevalence of sleep disorders in women as compared to men. On the other hand, men segment is expected to register fastest CAGR during the forecast period, owing to increasing prevalence of sleep apnea among males.

On the basis of race, the 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 population of non-Hispanic whites in the U.S. and increased consumption of sleeping aids by non-Hispanic whites. On the other hand, Mexican American is expected to be the fastest growing segment during the forecast period, owing to high prevalence of insomnia and depressive symptoms in Mexican Americans.

Key Findings Of The Study

• By product, mattresses and pillows segment dominated the market in 2022.
• By sleep disorder, insomnia segment dominated the market in 2022
• On the basis of age, 70 and above segment dominated the market in 2022.
• By gender, women segment dominated the market in 2022.
• Depending on race, the non-Hispanic white segment dominated the market in 2022.