According to a new report published by Allied Market Research, titled, “Sleep Aids Market by Product and Sleep Disorders: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global sleep aids market size was valued at $59,815.10 million in 2020, and is projected to reach $111,920.10 million by 2030, registering a CAGR of 6.9% from 2021 to 2030.
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The coronavirus (COVID-19) was discovered at the end of December in the Hubei province of the city of Wuhan in China. This disease is caused by a virus, namely the severe respiratory disease coronavirus 2 (SARS-CoV-2), which is transmitted between humans. In the wake of the COVID-19 outbreak, the outlook for the sleep medicine industry has changed dramatically.
Major Key Players –
Cadwell Industries, Inc.
Compumedics Limited
Drive DeVilbiss Healthcare Inc.
GlaxoSmithKline Plc
Merck& Co., Inc.
Natus Medical Inc.
Koninklijke Philips N.V.
PFIZER, INC.
Sanofi S.A.
SleepMed Inc.
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North America accounted for the largest share of the global sleep aids market in 2020 and is expected to remain dominant during the forecast period. This is due to the increase in sleep disorders such as sleep apnea, the proliferation of sleep aid devices, the availability of high-quality medical facilities and qualified medical professionals, the increasing number of R&D and the presence of significant of the main players and the increase in investment made by the government in the health system.
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