Global Sleep Aids Market Size, Share, Growth rate and Future Analysis

The global sleeping aids market is increasing, due to growing geriatric population and increasing awareness about sleep disorders by various organizations. Older people are more prone to sleep disorders, such as obstructive sleep apnea and insomnia. In addition, the lifestyle changes are leading to sleep disorder, due to the increased usage of caffeine, tobacco and alcohol. This has generated the demand for sleeping aids products. The long working hours and hectic work environment further hampers the quality of sleep, which is leading to an increased consumption of OTC drugs, thus encouraging the growth of the global sleeping aids market.

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The various government and non-government organizations are taking initiatives to spread awareness about the importance of sound sleep and use of sleep aids products. The governments of various countries are taking initiatives to encourage the use of sleeping aids products, as these products help patients to reduce sleeping disorders. The increasing initiative to create awareness about the importance of adequate sleep and educating people about sleep disorders are also driving the growth of the global market.

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However, the side effects of sleeping aids, such as headache, stomach ache, constipation and dry mouth, are hindering the growth of the global market. In addition, the patent loss of the major sleeping aids medications is also restraining the growth of the global market. The rural areas in the developing countries are providing ample opportunities for the growth of the global market. The increasing awareness about sleeping disorders and sleeping aids products (medications and sleep devices) in developing countries, such as China and Brazil, are laying significant opportunities for the growth of the global market.

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Some of the other players in sleeping aids industry are Sanofi, Merck KGaA, Koninklijke Philips N.V., Pfizer Inc., SleepMed Inc., Takeda Pharmaceutical Co. Ltd., Cadwell Laboratories Inc., Natus Medical Inc., and Compumedics Limited.

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