DUBLIN--(BUSINESS WIRE)--The "Sleep Market - Global Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The sleep market by revenue is expected to grow at a CAGR of 6.11% during the period 2020-2026.
Several research studies and government programs help improve awareness explaining the importance of sleep in many countries.
The increasing awareness regarding sleep encourages the sales of preventive care devices such as smart bedding and other related devices. Recent developments in the market are the smartphone-based tracking and sleep management applications gaining high traction across the globe. Almost all the vendors are now producing wearable devices with smart connectivity options and are easy to use by the patients. In the era of customization, the future of the sleep aids market will be dominated by smart bedding devices which can be used as a part of smart homes. It will allow a person to personalize the lighting of their rooms based on their comfort.
The following factors are likely to contribute to the growth of the sleep global market during the forecast period:
- Rising Awareness Towards Sleep as Health Behavior
- Increasing Acceptance Sleep Trackers for Sleep Management
- Growing Prevalence of Mental Illness
- Rising changes in Lifestyle and Urbanization
The study considers the sleep market's present scenario and its market dynamics for the period 2020-2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Insights by Vendors
The smart bedding market is crowded with many vendors. Philips and ResMed lead the sleep apnea and sleep lab services market. Philips is the global leader in consumer use healthcare products and consumer electronics products. In the global sleep industry, Philips performs under the segmented sleep and respiratory care, which accounted for a revenue of USD 3.20 billion in the year 2020. Device manufacturing companies across the globe mainly dominate the industry. Key vendors are gaining growth opportunities to survive in the industry and remain competitive.
Key Questions Answered:
1. How big is the sleep market?
2. Who are the key players in the sleep market?
3. What are the latest technological advancements in the market?
4. What are the factors driving the sleep market?
5. What is the growth of the smart bedding segment during the forecast period?
Opportunities & Trends
- Technological Advances in Wearable Devices
- AI for Sleep Management
- Digital Sleep Framework for Therapy Selection
- Growing Demand for Natural Sleep Aids
- Lifestyle Changes & Urbanization
- Awareness Toward Sleep as Health Behavior
- Using Sleep Trackers for Sleep Management
- Increasing Prevalence of Mental Illnesses
- Accuracy of Sleep Trackers
- Side Effects of Sleep Medications
- Problems with CPAP Masks
- Koninklijke Philips
- Natus Medical Incorporated
- Nihon Kohden Corporation
- Fisher & Paykel Healthcare
- Compumedics Limited
- Itamer Medical Ltd
- Sleep Number Corporation
Other Prominent Vendors
- Apple Inc.
- BMC Medical Co., LTD
- Curative Medical
- Apex Medical Corporation
- Cadwell Industries INC.
- SOMNOMEDICS GMBH
- Advanced Brain Monitoring INC.
- Braebon Medical Corporation
- Cleveland Medical Devices INC.
- Eight Sleep
- Solace Lifesciences
- Sleep Cycle
- Polar Electro
- Pzizz LTD
- Garmin LTD
- Sunovion Pharmaceuticals INC.
- Eisai INC.
- Mallinckrodt Pharmaceuticals
- Teva Pharmaceuticals Industries LTD
- Pfizer INC.
For more information about this report visit https://www.researchandmarkets.com/r/kh0q05