The Asia-Pacific sleep aids market was worth USD 11.95 billion in 2022 and is estimated to be growing at a CAGR of 6.9% to reach USD 16.68 billion by 2027.
Shifting trends to maintain a healthy lifestyle by maintaining a good sleep cycle is one of the promising factors helping the sleep aids market grow steadily in the APAC region. Furthermore, the growing senior population fuels the APAC market for sleep aids. In addition, people nowadays are suffering from a variety of health problems resulting from a lack of enough sleep, which can be caused by various factors such as hectic work schedules, stress, and other factors, which further contribute to the APAC sleep aids market's rapid growth. In addition, the APAC sleep aids market is expected to be driven by the growing popularity of over-the-counter drugs, which are widely available from pharmacies. The growing adoption of technological developments to manufacture advanced sleep aids favors regional market growth.
The growing need for effective drugs that can ease sleep and increasing R&D activities to develop effective sleep aids, which can boost sleep quality and have fewer side effects, propels the APAC sleep aids market growth. APAC has a sufficient number of healthcare professionals who analyze and suggest the negative impacts of sleeping less to patients and prescribe appropriate medication, which is expected to fuel the growth rate of the sleep aids market in APAC. In addition, the growing aging population and healthcare consciousness among people are further expected to boost the market's growth rate in APAC.
However, the sleep aids market growth in the APAC region is expected to be hampered by fluctuations in raw material availability, usually natural items. In addition, the surge in the number of patients experiencing side effects due to long-term usage of sleep aids is inhibiting the growth rate of the sleep aids market in APAC. Furthermore, a lack of thorough knowledge of dose forms to manufacture sleep aids in developing countries is hindering the market growth of the APAC region.
This research report on the Asia Pacific sleep aids market has been segmented and sub-segmented into the following categories:
By Sleep Disorder:
By Medication Type:
Geographically, undoubtedly, the APAC region is predicted to register the highest CAGR among all the regions in the global market during the forecast period. Owing to the increasing incidence of sleep disorders and the growing geriatric population, the Asia Pacific region is likely to be a lucrative region for sleep aids. Furthermore, due to changing lifestyles, increased alcohol and tobacco consumption, and stressful working hours, the Asia Pacific sleep aids market is predicted to grow aggressively. The growing efforts from the key market participants in terms of conducting awareness campaigns, strategic pricing of goods to target price-sensitive customers, and growing R&D activities are anticipated to propel regional market growth. According to the Asia Sleep Association, 50-70 million people in China have a sleeping condition, with 10% of the population reporting chronic insomnia and 30% reporting short-term troubles. Obstructive sleep apnea affects 25 million people in China, India, and Japan, with 24-31 percent of males and 9-21 percent of women suffering from the condition.
KEY MARKET PLAYERS:
Companies playing a leading role in the Asia Pacific Sleep Aids market profiled in this report are Pfizer, Cadwell, Merck & Co., Koninklijke Philips N.V. (Philips), Sanofi, Care Fusion Corporation, GlaxoSmithKline Plc, Natus Medical manufactures, SleepMed, and DeVilbiss Healthcare LLC.
In 2022, the APAC sleep aid market size is expected to value at USD 11.95 billion,
China had the largest share of the APAC sleep aids market in 2021.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: email@example.com