Global Sleep Aids Market Overview, Size, Share and Trends 2021

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Market Highlights

According to MRFR analysis, the global hearing aids market is expected to register a CAGR of ~7% during the forecast period of 2019 to 2025 and was valued at USD 8 billion in 2018.

A hearing aid is an electronic device which amplifies sound so that a person with hearing loss can listen, participate in daily activities, and communicate with others. The three basic parts of a hearing aid are a speaker, an amplifier, and a microphone.

The growth of global hearing aids market is driven by various factors such as increasing incidence of hearing loss, the launch of new products, increasing geriatric population, and raising awareness about hearing loss treatment. However, the low penetration of hearing aids and product recalls are expected to curb the growth of the global hearing aids market.

The global hearing aids market is currently dominated by several market players. The key players are involved in product launches and strategic collaborations to strengthen their market positions.

Regional Analysis

The market has been divided, by region, into Europe, the Americas, Asia-Pacific, and the Middle East & Africa. Europe is expected to be the largest market owing to the rising incidence of hearing loss and sophisticated healthcare infrastructure. The European hearing aids market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The Americas holds the second largest market share. The hearing aids market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The hearing aids market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing awareness regarding the use of hearing aids and increasing population affected by hearing disorders, the market in Asia-Pacific is expected to be the fastest-growing. The hearing aids market in the Middle East & Africa has been divided into the Middle East and Africa and is expected to hold the least market share.

Segmentation

The global hearing aids market has been segmented based on product, product type, type of hearing loss, technology type, and distribution channel.

The market, based on product, has been divided into devices, implants, and accessories, out of which implants is the fastest-growing segment. For instance, the Australia-based manufacturer Cochlear Ltd reported a profit of USD 265 to USD 275 million in first quarter of 2019, 8% to 12% more as compared to that in the first quarter of 2018.

The global hearing aids market has been segmented, on the basis of product type, into wired and wireless. Wireless is the fastest-growing segment owing to technological advancements and product launches. For instance, Sonova, in November 2018 launched products based on SWORD (Sonova Wireless One Radio Digital) chip. The new technology allows hearing instruments to connect with electronic devices such as televisions or mobile phones.

The type of hearing loss segments of the market are sensorineural, conductive, and others. The growth of the segment is due to the high prevalence of hearing loss. For instance, in 2018, around 2 to 3 out of 1000, children in the US are born with a hearing loss in one or both ears.

The technology type segment of the market is segmented as digital hearing aids and analog hearing aids. The digital hearing aids segment is expected to be both, the largest shareholder and the fastest-growing segment owing to its advantages over analog counterparts.

The distribution channel segment is classified into retail stores, E-commerce, and others. The E-commerce segment is expected to be the fastest-growing segment owing to ease of access to products for customers.

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Key Players

Some of the key players in the global hearing aids market are Sonova (Switzerland), Cochlear Ltd. (Australia), GN Store Nord A/S (Denmark), Sivantos Pte. Ltd. (Singapore), Arphi Electronics Private Limited (India), Demant A/S (Denmark), Starkey (US), WIDEX INDIA PRIVATE LIMITED (Denmark), Zounds Hearing (US), SeboTek Hearing Systems, LLC (US), Audina Hearing Instruments, Inc. (US), and Microson (Spain).

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The Sleep Aids Devices Market Research Report Forecast is a valuable source of insightful data for business strategists.

It provides the industry overview with recent trends, size, share, growth analysis, historical, futuristic data, revenue, demand and strategic development.The entire sleep aids devices market has been sub-categorized into sleeping disorders, product, medication.

The report provides an analysis of these subsets with respect to the geographical segmentation.

This research study will keep marketer informed and helps to identify the target demographics for a product or service.Request a FREE Sample Copy of Global Sleep Aids Devices Market Report with Full TOC At: https://www.valuemarketresearch.com/contact/sleep-aids-devices-market/download-sampleBy Sleeping DisordersInsomniaSleep ApneaRestless Leg SyndromeNarcolepsySleep WalkingOthersBy ProductMattress & PillowSleep LabsMedicationSleep Apena DevicesOthersBy MedicationPrescription Based DrugsOTC DrugsHerbal MedicationThe research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.

The major players in the sleep aids devices market include Sanofi, Merck & Co., Pfizer, Koninklijke Philips N.V. (Philips), GlaxoSmithKline Plc, Takeda Pharmaceutical Company Limited, Care Fusion Corporation, Teva Pharmaceutical Industries Ltd., SleepMed, Inc., Natus Medical manufactures, Others.

This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.This section covers regional segmentation which accentuates on current and future demand for sleep aids devices market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Global Hearing Aids Market Research Report: By Product (Devices, Implants, Accessories), By Product Type (Wired, Wireless), By Type of Hearing Loss (Sensorineural, Conductive, Others), By Technology Type (Digital Hearing Aids, Analog Hearing Aids) and By Distribution Channel (Retail Stores, E-Commerce, Others) – Forecast to 2025Global Market – OverviewAccording to MRFR analysis, the global hearing aids market is expected to register a CAGR of ~7% during the forecast period of 2019 to 2025 and was valued at USD 8 billion in 2018.A hearing aid is an electronic device which amplifies sound so that a person with hearing loss can listen, participate in daily activities, and communicate with others.

For instance, it is estimated that as of March 2019, there were around 466 million people with disabling hearing loss worldwide and the number is expected to reach 900 million by 2050Launch of new productsIncreasing geriatric populationRising awareness about hearing loss treatmentMarket RestraintsLow penetration of hearing aidsProduct recallsAvail a Free Sample@ https://www.marketresearchfuture.com/sample_request/8364 Regional AnalysisThe market has been divided, by region, into Europe, the Americas, Asia-Pacific, and the Middle East & Africa.

The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The hearing aids market in the Middle East & Africa has been divided into the Middle East and Africa and is expected to hold the least market share.SegmentationThe global hearing aids market has been segmented based on product, product type, type of hearing loss, technology type, and distribution channel.The market, based on product, has been divided into devices, implants, and accessories, out of which implants is the fastest-growing segment.

For instance, Sonova, in November 2018 launched products based on SWORD (Sonova Wireless One Radio Digital) chip.

The new technology allows hearing instruments to connect with electronic devices such as televisions or mobile phones.The type of hearing loss segments of the market are sensorineural, conductive, and others.

Global Sleep Aids Market is valued at USD 59771.7 Million in 2018 and expected to reach USD 94731.4 Million by 2025 with a CAGR of 6.8% over the forecast period.Increasing geriatric population and stressful work conditions worldwide are anticipated to drive growth of Global Sleep Aids Market.Sleep disorders includes a group of conditions that affect the ability to sleep well on a regular basis.

Lack of sleep is linked to many chronic health problems, such as; heart disease and diabetes.Key Players for Global Sleep Aids Market Report-Sanofi, SleepMed Inc., DeVilbiss Healthcare LLC., Pfizer Inc., Compumedics Limited, Koninklijke Philips N.V., Merck & Co., Natus Medical Incorporated, Cadwell Laboratories Inc., GlaxoSmithKline plc.

and others.Get Sample of This Report@ https://brandessenceresearch.biz/Request/Sample?ResearchPostId=78079=Sample                                                                                                                                                                                                                                                         It can also be a warning sign for medical and neurological problems, such as congestive heart failure, osteoarthritis and Parkinson’s disease.

Sleep apnea devices include facial interfaces, oral appliances and adaptive servo-ventilators (ASVs).

They can make for a better night’s sleep, not only for the individual but for those around them, as their snoring will be reduced, or eradicated completely.Along with these leading players, there is the number of other small and mid-sized players who are coming with huge investment and innovative product launch in the Insomnia industry.The regions covered in this Global Sleep Aids Market report are North America, Europe, Asia-Pacific and Rest of the World.

On the basis of country level, the market of sleep aids is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.Global Sleep Aids Market Segmentation:-By Product Type:Sleep Laboratories, Mattresses & Pillows, Medications, Herbal drugs, Prescription-based Drugs, OTC drugs, Sleep Apnea DevicesBy Indication Type:Insomnia, Narcolepsy, Sleep Walking, Sleep Apnea, Restless Legs Syndrome, OthersIncreasing Aging Population and Stressful Working Conditions are the Major Factors Drive the Growth of Global Sleep Aids MarketThe major factor driving the growth of global sleep aids market is increasing aging population coupled with the increasing prevalence of  sleeping disorders.

According to the Research Report Insights (RRI), titled ‘Global Sleep AidsMarket’: Industry Analysis 2012-2016 and Opportunity Assessment 2017-2025. The global sleep aids market is expected to expand at a CAGR of 4.8% during the forecast period 2017-2025.

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The global sleep aids market, forecasted to be worth US$ 31,315.4 Mn by 2025 end, and is expected to increase at a CAGR of 4.8% throughout forecast period. In terms of revenue,others product type segment-consisting of mattresses and pillows, chin straps and mouth pieces & nasal devicesis projected to remain dominant. By indication type, insomnia segment is expected to be most dominant segments and collectively gain more the 35% market share over the forecast period.Sleep apnea segment is expected to gain more traction than narcolepsy over the next decade owing to rising prevalence of obstructive sleep apnea.Among all distribution channel e commerce segment is the second most dominant segment for sleep aids market which is then followed by hospital pharmacies. Asia-Pacific is the second most lucrative region for the sleep aids market and projected to grow at fastest CAGR over the forecast period.

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On the basis of region, the market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East and AfricaNorth America is the largest market, and is expected to increase at over 4.3% CAGR during the forecast period. Asia-Pacific is the fastest growing marketplace for sleep aids market and projected to grow with CAGR of 6.5% to reach US$ 6,622 Mn by 2025.
The primary factors driving the growth of sleep aids market are increasing prevalence of sleep disorders such assleep apnea, insomnia, narcolepsy, sleep deprivation and others. The healthcare facilities are focusing on the implementation of several educational programme to raise awareness among the general population regarding the ill effects caused due to untreated sleep disorders and this will upsurge the demand for sleep aids drugs and devices products in near future. Other factors influencing growth of global sleep aids market include growing awareness about the sleep related disorders, rise in online sales, and others.
However, lack of awareness in developing countries about the major issues related with sleep disorder is the major factor deterring the growth of sleep aids market.
Some key players in the global sleep aids market across the value chain areResMed Inc., Koninklijke Philips N.V., Merck & Co. Inc., Drive DeVilbiss Healthcare LLC, GlaxoSmithKline Plc., Fisher & Paykel Healthcare Limited, Sanofi SA, and Pfizer Inc.Leading manufacturer are focusing to expand their regional presence in the emerging geographies such as APAC and MEA by collaborating with the distributers.

Report Analysis@https://www.researchreportinsights.com/report/rd/110114935/Sleep-Aids-Market

The global Sleep Aids Market is segmented as follows:

By Product Type
• Drugs
     - Insomnia Treatment Drugs
• Doxepin Hydrochloride
• Eszopiclone
• Ramelteon
• Triazolam
• Zaleplon
• Quazepam
• Others
     - Narcolepsy Treatment Drugs
• Modafinil
• Sodium Oxybate
• Armodafinil
• Others
• Devices
     - CPAP Devices
     - BiPAP Devices
     - APAP Devices
• Others
     - Mattresses and Pillows
     - Chin Straps
     - Mouth Pieces and Nasal Devices

By Indication Type
• Insomnia
• Sleep Deprivation
• Narcolepsy
• Sleep Apnea
• Others

By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• e commerce
• Drug Stores
• Others

 By Region
• North America
• Latin America
• Europe
• Asia-Pacific
• Middle East & Africa

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Medical marijuana, whose use got legalized in 33 out of 55 states, can act as a panacea to all your mental health disorders including the following:InsomniaPeople make use of various traditional sleeping aids to treat insomnia; however, such pills come with severe side-effects.

Medical marijuana has proved its worth and acted as an effective and desirable alternative to such sleep aids.

Simple ingestion of marijuana about an hour before hitting the bed helps the patients to feel the state of tranquility and sleepiness.