APAC Sleep Aids Market

APAC Sleep Aids Market Size (2022 to 2027)

The size of 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 also 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 market in this region is expected to grow as the popularity of over-the-counter medications, which are widely available from pharmacies, grows. Furthermore, the adoption of newly released therapeutic gadgets, particularly in developed and emerging countries, boosts the demand for sleep aids. In addition, the introduction of sophisticated technology for treating sleep problems, such as monitoring and diagnosis, has a significant positive impact on market growth.

The need for sleep products is undoubtedly fueled by ongoing research into generating revolutionary medications of appropriate quality and lowering difficulties. The availability of healthcare professionals who can analyze the negative impacts of sleep problems will also assist in the development of efficient sleep aids. The market is also expanding as the senior population grows and many organizations become more conscious of sleep issues.

However, the sleep aids market growth in the APAC region is expected to be slowly degraded 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 these treatments constituted a market restrain growth. Furthermore, a lack of thorough knowledge of dose forms to manufacture these products restricts the market need for sleep aids in developing nations. The government's strict laws and regulations on pharmaceutical businesses may potentially negatively impact the sleep aids market's growth pace. The main reasons for supporting pharmaceutical firms and patients are insufficient government funding and policies.

This research report on the Asia Pacific sleep aids market has been segmented and sub-segmented into the following categories:

By Sleep Disorder:

• Insomnia
• Sleep Apnea
• Restless legs syndrome
• Narcolepsy
• Sleepwalking

By Product:

• Mattresses & Pillows
• Sleep Laboratories
• Medication
• Sleep Apnea Devices

By Medication Type:

• Prescription-based Drugs
• OTC drugs
• Herbal Drugs

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Geographically, undoubtedly, the APAC region will register the highest growth rate among all the regions in the global market. Due to the increased 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 likely to be a substantial revenue producer throughout the forecast period. Players in the sleep aids market can expect attractive growth possibilities from awareness campaigns, strategic pricing of goods to target price-sensitive customers, and increased research and development in the area. According to the Asia Sleep Association, 50-70 million persons 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.