U.S. Sleep Aids Market Worth $30 Billion as Americans Battle Insomnia, Sleep Disorders - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "The U.S. Sleep Aids Market" report has been added to ResearchAndMarkets.com's offering.

Marketdata LLC, a leading independent market research publisher of “off-the-shelf” studies about service industries since 1979, has released a new 177-page report entitled: The Sleep Market: Sleep Labs, Bedding, CPAPs, Drugs & More.

This new Marketdata study examines the “sleep” market and its components, covering markets for: anti-insomnia medications and OTC supplements, sleep labs, mattresses and pillows, CPAPs (continuous positive airway pressure devices, for those with sleep apnea), and retail sleep aids (earplugs, sleep lamps, sound machines, eye masks, books, smartphone apps).

According to Research Director, John LaRosa: “As obesity rates climb and Americans age, more people are developing sleep apnea, restless leg syndrome and other sleep disorders.

Plus, stress in 2020 related to the presidential election, Covid-19 pandemic and recession are all contributing to more sleepless nights. As a result, a huge industry has emerged to analyze and treat America’s insomniacs-sleep labs and home test devices, CPAP masks, premium mattresses and pillows, Rx and OTC sleep medications, apps, sound machines and more.”

Major Findings:

- Market Size and Growth… Marketdata estimates that the U.S. sleep market was worth $30.66 billion in 2019, up 3.0% from the prior year. The market barely inched up 0.1% in value, to $30.7 billion in 2020, but the total market is forecast to grow 4.8% this year, to a value of $32.1 billion.

- Prescription insomnia drugs market, led by Belsomra, Ambien, and Lunesta, has been declining in value due to the expiration of patents and the entry of cheaper generics. However, OTC supplement sales are growing strongly. The total market of Rx and OTC sleep “drugs” is estimated at $2.1 billion in 2020.

- Sleep Centers… There was a major shift in the mix of in-center vs. at-home sleep studies performed by sleep centers during 2020-from 70% in-house/30% at-home to 30% in-house/70% at-home. This shift to telemedicine, coupled with center closures and lower patient volumes, caused revenues to fall by 27%, to $3.1 billion. A rebound is forecast in 2021. There are an estimated 4,400 U.S. sleep labs.

- CPAP devices - A significant market segment and the one with the highest current growth rates is the CPAP devices market—continuous positive airway pressure devices used for persons with obstructive sleep apnea. This industry remains less than 10% penetrated on a global basis. The market was worth $6.47 billion in 2020, representing a strong 15% gain.

- With consumers more focused than ever last year on comfort and improving their sleep quality, mattress sales held up well, growing by 1.2% to $16.9 billion in retail sales. This market is being disrupted by makers such as Casper and Purple, that have ditched the retail showroom and deliver directly to the customer’s home.

- The sleep pillows market is worth $1.88 billion and is also growing, as new materials and premium-priced and “smart” pillows enter the market

According to Research Director, John LaRosa: “An estimated 70 million Americans have insomnia, and 43 million suffer from obstructive sleep apnea (OSA), mostly undiagnosed. As obesity rates remain high, this problem is not likely to dissipate any time soon. Therefore, there is ample room for future growth of CPAP devices, sleep studies, OTC and prescription medications and other services.”

Companies Mentioned

• Casper
• Foundation Surgery Affiliates
• MedBridge Healthcare
• Novasom
• ResMed
• Respironics
• Simmons-Serta
• Sleep Holdings
• Sleep Number Co.
• SleepMed
• Tempur-Sealy

For more information about this report visit https://www.researchandmarkets.com/r/goit7b

Source: Marketdata LLC