Technavio market research analysts forecast the global sleeping aids market to grow at a CAGR of close to 6% during the forecast period, according to their latest report.
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Technavio has published a new market research report on the global sleeping aids market from 2017-2021. (Graphic: Business Wire)
The market study covers the present scenario and growth prospects of the global sleeping aids marketfor 2017-2021. The report also lists mattress and pillows and sleep apnea devices as the two major product segments, of which the mattress and pillows segment accounted for close to 47% of the market share in 2016.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global sleeping aids market:
- Increasing technological innovations in CPAP devices
- Growing patient-care services
- Increase in human lifespan and working hours
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Increasing technological innovations in CPAP devices
Technological innovations have resulted in the development of improved continuous positive airway pressure (CPAP) devices. Technological advances have led to the development of lightweight interface masks with soft sealing flange and fewer accessories that are easy to use and more adaptable to different face geometries. These masks will improve the usability of CPAP devices. The integration of IT data systems with CPAP and associated monitoring devices helps in improving therapy for sleep-disordered breathing by reducing cost and time. For instance, the latest CPAP devices by ResMed include integrated humidification with wireless connectivity so that medical equipment providers for home-care and other healthcare providers receive regular reports on the patients' progress.
"CPAP devices backed by IT data will allow improved patient-care and increase the compliance rate of obstructive sleep apnea therapy. These offer a range of opportunities for healthcare providers to stay virtually connected to patients and train them more efficiently. The added benefits of these products offer significant value addition to a consumer's life. The rise of innovative products will lead to increased adoption of these products, resulting in the growth of the global sleeping aids market," says Amber Chourasia, a lead analyst at Technavio for health and wellness research.
Growing patient-care services
Patient-care services are broadly classified into two types which include healthcare-based patient-care services and home-care-based patient-care services. Due to the increased incidence of chronic diseases, lifestyle-related diseases, and medical emergencies, the number of patients undergoing post-treatment patient-care has increased substantially.
During post-treatment patient-care, the patients need to take rest for a long duration, and they are highly prone to various skin infections and bed sores. To avoid these post-treatment complications, pressure-relief mattresses are used as preventive measures. These mattresses aid in supporting the pressure points in the body, specifically the shoulders and the hip, which are often stressed in the side-sleeping position. Older adults are especially prone to get bed sores owing to their vulnerable skin conditions. The increasing recommendations of these mattresses by healthcare practitioners to avoid post-treatment complexities are driving the growth of the global sleeping aids market.
Increase in human lifespan and working hours
The geriatric population is increasing due to the advances in medicine, which is helping people live longer. Countries that have the highest geriatric population include Japan, South Korea, China, Germany, Israel, and the US. The number of people aged 60 years and above is expected to double soon. An increasing number of people prefer to work past the standard retirement age by either launching supplementary careers or working longer because they are not ready for a change. Many nations are raising the age of retirement to reduce the escalating cost of pensions and healthcare for retirees.
Many people experience stress during a normal working week, and it is a major cause of burnout and depression. Also, due to busy schedules, it has become difficult to take out time for exercise and fitness activities. The lack of proper, nutritious meals and increasing workload elevate the level of stress among people. Increased stress levels can raise blood pressure, resulting in faster heartbeats and narrowing of blood vessels. High blood pressure further causes a reduction in blood oxygen levels leading to sleep apnea.
"To relieve stress, patients use products such as foam pressure-relief mattress and special pillows for uninterrupted sleep and a healthy life. The global sleeping aids market is expected to grow during the forecast period owing to the rising stress and anxiety levels in individuals, prompting the need for sleeping aid products in the future," says Amber.
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