8 May 2017 - - The global sleep aids market was valued at USD 49.543bn in 2016, and is estimated to reach USD 79.851bn by 2022, registering a CAGR of 7.0% from 2017 to 2023, according to a new report from Dublin-based Research and Markets.

Sleep aids are drugs and devices that are used to diagnose and treat sleep disorders, such as sleep apnea and insomnia.

Sleep disorders are caused due to substance misuse, stressful work environment, and inconsistent sleep pattern.

Sleep aids help to improve the quality of sleep by reducing the time required to fall asleep and increasing the duration of quality sleep.

The global sleep aids market is segmented based on product, sleep disorder, and geography. Based on product, it is categorised into mattress and pillows, sleep laboratories, medications, and sleep apnea devices.

The medications segment is further divided into prescription-based drugs, over-the-counter drugs, and herbal drugs.

Based on sleep disorder, it is classified into insomnia, sleep apnea, restless leg syndrome, narcolepsy, sleep walking, and other sleep disorder.

The market growth is attributed to the surge in prevalence of sleep disorders, rise in geriatric and obese population, and change in lifestyle.

A surge in disposable income; increase in awareness about sleep disorders; stressful work issues; enhanced intake of caffeine, tobacco, and alcohol; and technological advancements are expected to boost the sleep aids market growth.

However, adverse effects of sleep aids medication in patient with sleep disorders, such as dizziness, diarrhea, constipation, daytime drowsiness; and expiration on sleep drugs patents are expected to hamper the market growth.