APAC Sleep Aids Market

APAC Sleep Aids Market Size (2024 to 2029)

The sleep aids market size in APAC is expected to be valued at USD 19.06 billion by 2029 from USD 13.65 billion in 2024, growing at a CAGR of 6.9% from 2024 to 2029.

The increasing prevalence of sleep disorders among people due to lifestyle patterns propels the Asia-Pacific sleep aids market growth. Sleep disorders are most observed in middle-aged adults. The rising number of senior people and obese people where their bodies do not cooperate in having sound sleep. The lifestyle of working people having night shifts majorly disturbs the sleep cycle of the people. Chronic health conditions may also disturb the sleep cycles, which increases the demand for sleep aids. Medical professionals stated that sleep aids are helpful in inducing sleep, which is fuelling the adoption of sleep aids. There are increasing government initiatives to reduce long working hours among people, such as discussing with the private sector how to balance the working shifts while considering people's health. These factors are increasing the demand for market growth. Many people are undergoing depression stage due to various situations in their lives. The main symptom of depression is a sleepless night. People undergoing psychological treatment face the symptoms of sleep disorders, where sleeping aids are helpful for them, which increases the market growth. The increasing focus of sleep aid manufacturers in R&D activities is to introduce better products for inducing sleep with minimal effects.

Shifting trends to maintain a healthy lifestyle by maintaining a good sleep cycle is one of the promising factors helping the sleep aids market to grow steadily in the APAC region. Furthermore, the growing senior population fuels the APAC market for sleep aids. In addition, people nowadays are suffering from a variety of health problems resulting from a lack of enough sleep, which can be caused by various factors such as hectic work schedules, stress, and other factors, which further contribute to the APAC sleep aids market's rapid growth. In addition, the APAC sleep aids market is expected to be driven by the growing popularity of over-the-counter drugs, which are widely available from pharmacies. The growing adoption of technological developments to manufacture advanced sleep aids favors regional market growth.

The increasing awareness about sleep disorders among the people by many organizations such as the Indian Sleep Disorder Association, Hong Kong Society of Sleep Medicine, and Asia Pacific Paediatric Sleep Alliance is expected to provide opportunities for the adoption of sleep aids, which increases the market revenue. These organizations collide with government bodies and conduct campaigns and programs to raise awareness among people regarding sleep disorders and the management of these conditions. 

The growing need for effective drugs that can ease sleep and increasing R&D activities to develop effective sleep aids, which can boost sleep quality and have fewer side effects, propels the APAC sleep aids market growth. APAC has enough healthcare professionals who analyze and suggest the negative impacts of sleeping less to patients and prescribe appropriate medication, which is expected to fuel the growth rate of the sleep aids market in APAC. In addition, the growing aging population and healthcare consciousness among people are further expected to boost the market's growth rate in APAC.

However, sleep aids market growth in the APAC region, which is expected to be hampered by fluctuations in raw material availability, usually natural items. In addition, the surge in the number of patients experiencing side effects due to long-term usage of sleep aids is inhibiting the growth rate of the sleep aids market in APAC. Furthermore, a lack of thorough knowledge of dose forms to manufacture sleep aids in developing countries is hindering the market growth of the APAC region. The side effects associated with sleep aid medications are majorly hampering the market growth in the Asia Pacific region. Most of the cases left with drug dependence and sudden withdrawal show withdrawal symptoms, which limits the market growth. Side effects such as dizziness and prolonged drowsiness are decreasing the adaptability of these sleep aids. The medications for sleep disorders are not readily available as they need a prescription from a certified healthcare professional.

The increasing dependency on sleeping aids is challenging for market growth. These sleep aids induce sleep-related behaviors in people. People's habituation to these makes them less effective, hindering market expansion.

Impact of COVID-19 on the APAC sleep aids market.

The rise of the pandemic impacted market growth due to the implementation of strict lockdowns, which disrupted the supply chains and distribution channels. Lockdown regulations also decreased the labor count in manufacturing and production units, decreasing sales. The financial instability during the pandemic has made people think about investing in these kinds of products. The overall effect of COVID-19 on the Asia Pacific sleep aids market is damaging as the pandemic had a high impact on the Asia Pacific region.

This research report on the Asia Pacific sleep aids market has been segmented and sub-segmented into the following categories

APAC Sleep Aids Market Analysis By Sleep Disorder

• Insomnia
• Sleep Apnea
• Restless Legs Syndrome
• Narcolepsy
• Sleepwalking

The insomnia segment held the largest share of the sleep aids market revenue in 2023 and is projected to have a significant growth rate over the forecast period. The increasing health conditions and psychological conditions among people are inducing insomnia. The increasing adoption of modern lifestyle patterns. According to a study, 10% of the world's population experience insomnia, which qualifies as a medical condition.

The sleep apnea segment has been increasing in recent years as it is a severe condition in which breathing stops and starts repeatedly. It is becoming common among people and is projected to grow significantly in the forecast period.

APAC Sleep Aids Market Analysis By Product

• Mattresses & Pillows
• Sleep Laboratories
• Medication
• Sleep Apnea Devices

The mattresses and pillows segment dominated the Asia-Pacific sleep aids market in 2023. The arrangement of mattresses and pillows is expected to induce sleep due to comfort and relaxation. The industrial players are working on this to give people a better experience and induce sleep.

The medication segment is also gaining traction as many cases with sleep disorders are recommended to take medications due to psychological issues. The medication segment is projected to grow significantly over the forecast period.

APAC Sleep Aids Market Analysis By Medication Type

• Prescription-based Drugs
• OTC drugs
• Herbal Drugs

The prescription-based drugs segment dominated the APAC market in 2023, as psychological disorders are highly symptomatic with sleep disorders. Medical professionals prescribe drugs for these cases in the process of treatment.

APAC Sleep Aids Market Analysis By Country

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

The sleep aids market in APAC is anticipated to grow at a higher rate among all the regions worldwide during the forecast period.

China is the major country with the highest market share and an increasing patient population. This country provides advanced healthcare systems to almost 90% of its citizens. The number of people with insomnia disorder is growing at a higher rate in China, which is dramatically fuelling the growth rate of the sleep aids market. Around 15% of people are suffering from insomnia disorder. China held the largest share in the Asia Pacific sleep aids market due to its advanced healthcare system. The rate of sleep disorders is increasing among the people in this region, driving market growth.

India is holding the second position in the market share, following China. Increasing number of senior people with chronic diseases is boosting the market rate in the country. Increasing the number of geriatric patients is the primary factor for the market to grow in India. Additionally, the rising popularity of sleep aids in urban areas is enhancing the market share.

Japan is attributed to have prominent growth opportunities during the forecast period. Japan is one of the countries that have a high potential for adopting the latest technologies. Growing expenditure and rapid urbanization are two major factors for market growth. Investments in R&D activities are an additional attribute for the market to grow eventually. For instance, in 2023, Japanese and American scientists collaborated together to do research on sleep disorders. They won a US breakthrough prize for their findings on the cause of narcolepsy. Japan is expected to witness prominent growth over the forecast period due to its increasing technological advancements in the healthcare system, which is providing better solutions to the people. Growing investments in the R&D activities by the manufacturers are accelerating the growth of market value in the Asia Pacific region.

KEY MARKET PLAYERS

Companies playing a leading role in the Asia Pacific Sleep Aids market profiled in this report are Pfizer, Cadwell, Merck & Co., Koninklijke Philips N.V. (Philips), Sanofi, Care Fusion Corporation, GlaxoSmithKline Plc, Natus Medical manufactures, SleepMed, and DeVilbiss Healthcare LLC.