North America dominates the global sleep aids market, according to Reportbuyer. (Reportbuyer defines “sleep aids” as “pills and medical devices which enable a person suffering from sleep disorder to fall asleep.”)
The United States represents the largest market for sleep aids in North America. This is due to rising incidence of sleep disorders due to a growing geriatric population, increasing demand for sleeping pills due to stressful modern lifestyle, and rising initiatives by various health organization to increase awareness about sleep disorders in the country, Reportbuyer states. Asia is expected to experience high growth rate over the next 5 years in the global sleep aids market.
Factors such as side effects associated with sleep aids medications and patent expiration of major sleep drugs are key restraints for the growth of the global sleep aids market.